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Odyssey - Vehicle Loan and Impact on Credit History

9 messages, Last post on Oct 28, 2009 at 6:38 AM
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Hello, I searched for similar things in forums but I couldn't find one. I want to buy a Honda Odyssey 07 or 08 model depending upon price. I want to get a Loan from Credit Card companies. Following is my Credit Information: Credit Score: 710 (Transunion) Total Debt: 26,000 Total Credit: 50,000 Credit History: 4 Years Negative points are: 1) High Debt 2) High Debt per Available Credit Ratio 3) Less Credit History (Generally, most of the times, they consider atleast 5-7 years of history) 4) Credit report shows Income = Debt (A Person should have More Income than Debt, in order to get a good credit) My Question is: If I apply for Vehicle Loan in couple of Credit Card companies on the same day: 1) how is it going to impact my Credit History & Credit Score? 2) Does the Credit Companies, view all of them as one or several inquiries?
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Replying to: sunilk_14 (Oct 12, 2007 5:54 am) Not a good idea. The applications should be treated as one but, really, why does it matter? |
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| I agree, with the money that your earning it would not suffice your free car loan search for an odyssey and yes it is treated as one... | |
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Replying to: sunilk_14 (Oct 12, 2007 5:54 am) And I think if you make too many inquiries for credit in a short time period, it will actually lower your credit score, because they're treated as separate credit inquiries. |
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Hi. Would it be possible to re-finance? What is involved in re-financing? Any help would be much appreciated.
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Replying to: rony1434 (Oct 28, 2009 3:50 am) Questions About Financing New Vehicles |
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