 TITLE: How to Get a Used Car Loan CONTENT: Shop Around for Used Car Loans\n------------------------------\nAs with any other type of loan, you should shop around for used car loans to get the best rates and terms. It's worth the effort, because comparison shopping can save you thousands of dollars over the life of the loan.\nStart by checking your credit score. A fair or poor credit score doesn't mean you can't get a loan—according to Experian data, in Q4 2019, the average credit score of people getting used car loans was 661. However, improving your score before you apply for a loan can help you qualify for a lower interest rate.\nWill shopping around for used car loans and submitting multiple applications negatively affect your credit? Not if you handle it right. Most credit scoring models count multiple car loan inquiries as one inquiry as long as they are all made within a certain period of time—usually within 14 days, but sometimes longer depending on the scoring model. (Each inquiry will still show up separately on your credit report, however.) A hard inquiry can take a few points off your credit score, but the effect will disappear in about a year. END