2007-08-10 18:36:17 · 5 answers · asked by Larry F 1 in Cars & Transportation ➔ Buying & Selling
Your credit rating will make a very very slight dip every time you have a credit inquiry. If you have good credit you should have no worries about the credit inquiry.
2007-08-10 18:43:22 · answer #1 · answered by Calspeed 2 · 1⤊ 0⤋
The finance companies make their money by lending you money. If you are approved for a loan to purchase car, but don't buy it, the loan company has the right to charge you for the cost of researching your credit worthiness and funding the money if it goes that far in the purchase process. This will not show up on your driving record, but may have a slight impact on your next loan application. It depends somewhat on your circumstances and why you cancelled the actual distribution of loan proceeds.
2007-08-11 04:10:37 · answer #2 · answered by Phillip S 6 · 0⤊ 0⤋
Today every person has need of car, because it has become the necessary need for the people and status symbol also. If you have bad credit history or poor credit history and look for purchase a car, then it is very tough for you. Due to bad credit history, lenders are not keen towardyou can take this loan at better rate, because competition among lender.You can reduce your interest rate after talking with the lender
2007-08-13 12:30:44 · answer #3 · answered by Anonymous · 0⤊ 0⤋
your score may go down a couple points if you do that over and over again but it that small change in a score has no relevance to anything really.
2007-08-11 04:10:03 · answer #4 · answered by bigybb 2 · 1⤊ 0⤋
Can't see why it would, you just basically changed your mind about the car.
2007-08-11 01:44:48 · answer #5 · answered by johN p. aka-Hey you. 7 · 1⤊ 0⤋