Quote:
Originally Posted by Petrol Head
For the OP, never EVER file for a credit app for a car unless and until you've finalized the deal to actually purchase the car. I mean, you have the purchase order written up, you and the salesman both have signed off that you agree on that price, and the car is actually sitting there with the temporary tag on it. When you have your down payment check in hand is the time you apply for credit.
YES not until THAT POINT!
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Here's the thing...
When you have excellent credit and low credit utilization, and you know exactly what your credit score is (and it's above 750), this is 100% feasible. For anyone with a lower credit score or higher utilization, or that has negative comments on their credit report, this may not be completely attainable.
I agree with the premise, and it's exactly how I handle the process myself. There are a lot of car lots that simply won't put that much effort into the deal until they know it will close, and that may require a hard inquiry.