March 26, 2007

Hi Tony

Am I ever enjoying your site! As a fairly inexperienced car buyer I have found your site to be amazing advice and food for thought.

First off I am in Canada and wondering if you would know about any good auto financing companies that offer competitive rates here. I have average credit at best, but I'm worried about getting too many "hits" on my credit score by applying to different loan companies. Will this affect my credit negatively?

Please let me know of any good Canadian sites you may know of, for any car info as it is hard to find ones outside the US!

Thank you so much,

Best Regards

Crystal, Ottawa Ontario

Answer:

Hi Crystal,

Thank you very much for your kind words about my website. They are very much appreciated.

Loan companies and banks do not like seeing a lot of inquiries in your credit report. It makes them nervous thinking you are applying for multiple loans all at once. Also, your credit score will be affected by numerous inquiries so keep them to a minimum.

One good source for Canadian auto loans is AutoCredit.ca You can also visit CarCostCanada.Com for Canadian car buying information.

All my very best...

Tony Iorio