Question by Lost in Texas: How can I be sure to get the best auto loan rate without lowering my credit score?
I am about to purchase a new vehicle and I have checked my credit score and applied for a loan through my bank. They offered me 4.25%. My embossed mentioned I should go through the base credit union because they have better rates, but is it likely that I would since my score is what determines the rate? And I’m worried about trying too many places, because that will just lower my score.
Best answer:
Answer by Huntsman
Go to the credit union. They have rates as low as 2.99% – worth it.An inquiry affects your rating only by 1 or 2 point.It only affect your fico score for 1 year, even though it shows up for 2And.. all inquiries done in a 3 week window are treated as one.This is to allow the customer to shop around for a good rate/loan
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