Auto Loan Shopping

[rdtech]

Just have a quick question.

I want to start shopping online for auto loans through a few different online places in hopes to secure a loan before going into a dealer. Say I get approved for a loan and when I go into the dealership, the finance manager wants to beat it. They will also need to run my credit as well.

I understand that all auto loan inquiries in 14 days are treated as 1 inquiry for fico socring. My questions is how soon is your score impacted?

If I apply for several loans in the next few days and 5-6 days later go into a dealership to have credit run, will my score drop or is it after the 14 day period?

[laz98]

your score is impacted instantly, as soon as the inquiry hits your reports.

[rdtech]

instantly. That's kind of what I was thinking.

I wanted to be absolutely sure though.

Thanks laz98!

[laz98]

glad to be of help!