Fiance 2 cars at one time from different dealers and different banks?

So my question is can I finance a car at honda and go finance a car at Toyota in the same month without one bank knowing about the other car purchase? I was told by the dealer that it was legal to do but not to tell bank a I had bought another car from bank b and vice versa. It seems fishy to me but I don't know for sure. We need 2 vehicles and can afford it as we both make around 27 dollars an hour but we have some credit problems. Does anyone know anything about buying 2 cars in the same month from 2 different lenders?

Both banks will pull a credit report and the second bank will see the first loan. It's not a good idea to misrepresent your financial situation when applying for a bank loan. In fact, it is illegal to knowingly provide false information on a loan application. Let your conscience be your guide.

Sure. Obviously, the banks want to know if you have too much debt to be taking on a new loan. If you don't disclose the 1st loan to the 2nd bank, they may think you're OK but, in fact, you may not be OK and will have taken on too much debt. It's up to you to figure out if you'll be able to afford both loans.

It's legal, as long as you disclose it. The 2nd bank will ask if you have any outstanding loans or debts before they lend you the money. If you don't disclose the first loan when they ask, that's fraud, and could end you in all sorts of legal bother.

Because you say "we" it's probably OK for one of you to finance one car, and the other to finance the 2nd? As you are both employed it can be treated as separate transactions.

Not telling one about the other would be fraudulent. And I wouldn't deal with any finance guy who suggests you be fraudulent.

How about go to your bank or credit union & apply for both. Upfront & honest.

If they don't approve you for both, you can't afford both.

That would be fraud.