Pre-approval for car loan

[pa308]

Does getting a pre-approval for an auto loan cause a hard inquiry to the credit report? Cap 1 has advise that I can be pre approved and I was thinking of getting a used car, maybe finance 7500 (their minimum) to help re-build my credit. I currently drive a 96 GMC Jimmy and think I could pick up something that would be a little better on gas and repairs.

Cash for Clunkers wont help me since I'm not looking for a brand new car, dont know what I'll get for the Jimmy, I'm thinking maybe i should wait for clunkers to be over before I do anything.

Would like to know what kind of interest rate C1 would offer

[StartingOver08]

Yes, a preapproval is a hard pull on your credit.

[Nicollette]

Does getting a pre-approval for an auto loan cause a hard inquiry to the credit report? Cap 1 has advise that I can be pre approved and I was thinking of getting a used car, maybe finance 7500 (their minimum) to help re-build my credit. I currently drive a 96 GMC Jimmy and think I could pick up something that would be a little better on gas and repairs.

Cash for Clunkers wont help me since I'm not looking for a brand new car, dont know what I'll get for the Jimmy, I'm thinking maybe i should wait for clunkers to be over before I do anything.

Would like to know what kind of interest rate C1 would offer

I just heard on the news that the Government decided to end the "cash for clunkers" deal on Monday, August 24 by 8pm.

[nc73]

thank god they ended that stupid program, sure get more folk into debt and waste more of our money. just so we can save the auto industry. f*** that.