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Originally Posted by Taekwondo Guy
a slight warning though; applying for loans and being rejected leaves a temporary mark against your name.
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Yeah someone told me it can last up to 3 months, which is why I've been leary of actually applying for a loan at the moment. That's why I've talked to lenders before submitting any loan applications. I highly doubt anyone would finance me at this point anyway since they all seem to have minimum monthly income requirements. I guess I'll just have to wait till I get a bigger down payment. Then I'll have some bargaining power on my side, or so I was told by a car dealer.
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Here in the uk all the credit companies use the same info database and they can see if you have previously attempted to get credit. If you try everywhere and get rejected, the other loan company will see this as a red flag.
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They basically do the same here, though some will still give you the credit card/loan/whatever if they're feeling lucky...lol.
Haha thanks.
