So i finally did it!

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So i finally did it!

Postby paparoach429 » Mon Feb 25, 2013 2:29 am

So after all the months of asking you guys questions and thinking about it over and over again I went and I bought my car! Its a 2013 Jeep Compass Sport. Im really excited because Im the first of my brother and sisters that bought a car and didnt need my parents to cosign. I did alot of rate shopping at different dealers and finally got a price I think I could settle on. I got 8.9% financing which probably isnt bad considering im 20, only have 2 years of history, and have only been at my job for a year and a half. The only downside to all of this is my credit took a huge fall with all the inquiries. It started at 688 and the second to last time it got pulled it was a 670, obviously lower since it got pulled once after. How long does it take to go back up considering now I have an installment loan on my file?

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Postby djrez4 » Mon Feb 25, 2013 9:51 am

Congratulations, mate. That was a much better choice than the Neon SRT.

Your installment loan should report after the first payment. That will give you a bump. All of the inquiries should count as one for scoring purposes, so expect a bump as they age to six months and then a year.
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Postby MemberSince99 » Tue Feb 26, 2013 10:52 am

+1 Congrats

SRT4 is a real sleeper car.

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