how aggressive should i be in applying for auto loan?

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

Digital Federal Credit Union: dcu.org

They are a class act, check them out.  2.24% APR on an auto, minus a half percent with you direct deposit (DD) your entire paycheck into their checking and savings essentially making them your primary bank.

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thanks slipper for the clarification. I found their website and you clarified the DD.

anyhow, how much or how many should at least ill go when applying auto financing? im afraid that my score will drop if  ill apply too much.

i have read that if ill do shop for financing within 14 days, it is considered as 1 inquiry. pleases clarify. thanks

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What you're referring to is called "rate shopping".  If you have your credit report pulled for the same type of loan multiple times within 30 days, it only impacts (decreases) your score once.  However every single inquiry will show on your credit report, which is bad.  Apply at DCU with the intent of securing a loan if you get the 1.74% (or 2.24% without DD). 

[Anonymous]

Just an update guys: i got a pre approval for 1.95% from local credit union.. What you think? 😀

[Anonymous]

Still waiting from DCU.. I also did send an application online.. Crossing my fingers!!!😆

[Anonymous]

Just an update guys. I have applied financing in two credit union. MCU AND DCU. I had 2 ironic results MCU initially approved me 1.99% for a 60 month term and DCU denied my loan application 😏... So i went to the dealership and went to apply for their own in house financinh (did not disclose previos approval) got approved of 2.99%.. Bottomline, i finalized my loan through MCU.. They approved me for 1.95% for a 61,800k car loan for 60 months.. Now my new mb is on its way.. Thanks for all your help here guys.. Also, i used strategies i have learned here in ourchasing new cars and was able to get 5k off msrp... But i decided to get 2016 model which i had 1,8k off its msrp..
😁