nocclocster asked:
I was a local dealership a month ago trying to trade in my used car for another pre owned car. They ran a credit check and I qualified for an auto loan with a credit score of 571, but because of the high interest rate I couldn’t afford the car. A month later, I tried the same thing another dealership out of town and after hours of wating, the salesman told me that I was denied by 5 different banks for a loan. Then later that day I went home to check my credit score on freecreditreport.com and my score was 515.
So my question is, did my credit drop because I was denied by five banks for an auto loan? or did my first local dealership did not give me my real credit score?
Marion
I was a local dealership a month ago trying to trade in my used car for another pre owned car. They ran a credit check and I qualified for an auto loan with a credit score of 571, but because of the high interest rate I couldn’t afford the car. A month later, I tried the same thing another dealership out of town and after hours of wating, the salesman told me that I was denied by 5 different banks for a loan. Then later that day I went home to check my credit score on freecreditreport.com and my score was 515.
So my question is, did my credit drop because I was denied by five banks for an auto loan? or did my first local dealership did not give me my real credit score?
Marion