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AUTO LOAN INQUIRES?

New Member

AUTO LOAN INQUIRES?

I WAS UNDER THE IMPRESSION WHEN I WENT FOR A LOAN FOR MY NEW TRUCK THAT I HAD AN 11 DAY WINDOW FOR THEM TO SHOW UP AS ONE INQUIRE. I RECENTLY CHECKED MY CRA AND EXPERIAN SHOWED THREE FOR ONE DAY EQUIFAX 2 FOR ONE DAY AND TRANS U SHOWED ONE.DO THESE EXTRA INQUIRES BRING DOWN MY FICO SCORE AND DO I HAVE ANY RECOURSE.                                                                                   THANX RED
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2 REPLIES
New Contributor

Re: AUTO LOAN INQUIRES?

As I understand it multiple auto loan requests within a 30 day period count as 1 inquiry that will affect your fico score (same for mortgage loans), even though all of them will show up on your report.
Message 2 of 3
Frequent Contributor

Re: AUTO LOAN INQUIRES?

That is correct every INQ will report on the CR"s the dealership used you do have a 14 day window to do you rate shopping.If done in the 14 day period FICO will only count as 1 INQ toward your scores. Hope this helps .
Message 3 of 3