New Contributor
Posts: 99
Registered: ‎11-12-2013

3 HP's for One Loan? Can I get them removed?

I allowed for a credit inquiry when getting a new car in July. I recently pulled my free annual report through Experian and saw that what I thought would be one HP is actually 3. I had a inquiry from the following three:


- Toyota Motor Corp

- BoA

- Credco (on behalf of the dealership)


Why did the dealer and Toyota need 3 HP's? I thought it would just be one. Is there anyway that I can have some of these removed?



FICO - TU: 752 | EQ: 745 | EX: 734
FAKO - EX: 722 | TU: 723
Chase Freedom Visa Signature: $7k | Amex BCE: $7k | Amex Corporate: NPSL | Discover it: $5.5k | Sears MasterCard: $3k | Barclays Visa Financing (Apple): $2k
Started Gardening: 03/05/2014 | In the Garden 'til: 03/05/2016 | Goal: 750 across the board, all inquires off my CRs
Established Contributor
Posts: 566
Registered: ‎10-25-2011

Re: 3 HP's for One Loan? Can I get them removed?

Nope. Nothing you can do. Dealerships are known to apply at multiple lenders on your behalf.

I'm a personal banker and do a lot of auto loans serving the Houston area.
I suggest first time car buyers to read the sticky guide in the auto loan section.
I try to check these forums often, but if I missed your post, please feel free to message me with a link to it.
New Contributor
Posts: 65
Registered: ‎11-25-2013

Re: 3 HP's for One Loan? Can I get them removed?

Same thing happened to me, except they did even more HPs....but I wouldn't worry too much about it as they technically count as one :smileyhappy:


I just applied for an auto loan and I did some shopping on my own before going to the dealer and had 3 HPs (2 CUs and Cap1 blank check). Then when I went to the dealer the dealer did an additional 5 for a total of 8 HPs :smileysad: I was worried about so many HPs, and I even got denied a credit card based on too many inquiries. I called them to let them know all the inquiries were from buying a car, and they approved me. So if you have any problems in the future just be ready to explain that they are from auto loan shopping and technically only count as one! Quoting this thread:


"Apply at atleast 5+ financial institutions with most being CUs (they offer best rates). Apply at dealership financing last (they love to beat rates). Yes its a lot of Inquires on your credit report, but if you do it all within a short period it counts as 1 inquiry for scoring purposes. How do I know? Here's the link to myfico explaining:"



My dealer did HPs for the following:







Starting Score: 577 (08/2012) Current Score: EQ: 675 (2013) | EX: 686 (04/14) | TU: 700 (Barclay FICO)
Last app: 04/28/14. In the garden until 12/2014 (updated 07/14)

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