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| Car shopping & multiple credit checks Posted by ashy larry I know this has been discussed before but I can't find the thread. anyway...  on 6/4 at 10:32 amI was thinking about using the Capital Blank check for an auto loan, but if the dealership could offer a better rate I have no problem letting them try to beat it. My question is: would it make a difference on my credit score if I had multiple credit checks within a few days of each other for a car loan? It seems like I read somewhere that if it is for the same type of purchase in a short window of time, it wouldn't affect my credit more than the initial check. TIA Reply • Back to Top |
| I'm pretty sure you can have as many as you want in a two week window and it will only show up as 1. Reply • Back to Top |
quote: LINK Reply • Back to Top |
 thanks! Reply • Back to Top |
| OT: I got a car Saturday and had forgotten my check book, so they let me make the down payment with my debit card. I can't so much as go to a gas station out of state without Chase calling me to see if someone stole my card, but a $5000 down payment goes through without a hitch. Reply • Back to Top |
quote:I tried paying with my CC to get points and the dealership wouldn't let me. I guess I could have pitched a fit and all, but I didn't think they would anyways, I was just trying for the hell of it. Reply • Back to Top |
quote: Probably because of the fees. It's a percentage, so the fee on something like $5k for them would be more expensive than it's worth. Reply • Back to Top |
quote: This is correct. Every inquiry will show up on your credit report but supposedly will only affect your score the same as 1 inquiry. Reply • Back to Top |
quote: I keep getting emails from Capital One for this. One of these days I'm going to be bored and fill out the app then end up with a new vehicle.  Reply • Back to Top |
quote: Jeez gas stations wont take CC because the items dont cost enough to justify the fee... Car dealerships won't take CC because the item is too big and will have too high of a fee... Why the hell does anyone use CC Reply • Back to Top |
| You will find that Capitol Blank check hard to use. No dealers want to use it for whatever reason they will all try to finance you themselves through their lendors. I assume they get some type of kickback for using their lendors. Even with the check, the instructions, and all the paperwork that goes along with it the dealers act like they have no idea what's going on or how to use it. They will still run you credit and try to finance you themselves. Reply • Back to Top |
quote: my sister did it a few years ago without a problem. It all depends on the dealership. Capital one actually has 'preferred dealers' now. The finance guy will try to talk me out of it so he can offer me a shitty rate in order to get his commission. however I doubt he can beat 3.37% for 72 months. I don't plan on financing it for that long, but that is the rate i was given. Reply • Back to Top |
quote: That is pretty good. I got 2.4 for 60 months, but when you cross that five year mark they really jack up the rate. Reply • Back to Top • Refresh |
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