Local Toyota dealer pre-approved my loan application?
recently, got discharged chapter 7 after divorced wife. in need reliable transportation work. due bankruptcy, credit poor (555). in last couple months, have been improving credit score 640. want buy new car around $20k $4k down payment. went local toyota dealer buy 2011 scion xb. talked sale man, total car's price $19,843 dollars , submitted loan application. waited 15 minutes, finance specialist came out report, asked me few questions finance situation. said, credit score low (577) required large down payment. shocked 640 577?. reviewing application before send bank since have small chance approved. later, sale man showed me estimate quote monthly payment car 17.99% (ouch!) $320 month. signed estimate quotes, told me bank closed pre-approved. contact bank tomorrow asking better rates. walked out door unclear thoughts. monitored credit score everyday truecredit.com. shows ( 640 transunion, 635 experian, 641 equifax) why score dropped much? pre-appoved ? mont...