Auto loan interest rate shopping

[youdontkillmoney]

I have a hypothetical question. I don't plan to apply for an auto loan, but was curious, if one goes home mortgage rate shopping with a certain period the credit reports do not ding each instance of a check, ut considers all the checks as a whole; what about auto rate shoppnig, if one goes auto rate shopping within a certain time period, say a month, will credit bureaus also not consider the multile hard hits on the report?

[Luscher]

Yes as long as all hard pulls are labeled as "auto" on your report, they will count as one.......within a certain period. I think its somewhere around a month.

[youdontkillmoney]

Thank you.

[bada_bing]

When you get multiple inquiries  for loan shopping, FICO scoring algorithm will lump

all the inquiries into one for scoring purposes, but every inquiry will be individually listed

on your report. There are no guarantees as how those inquiries will be counted by different

in house risk models used by other creditors. You don't want to dump a bunch of inquiries

on your report on a whim because there are circumstances where they are detrimental. For

example, I would hate to try a mortgage application with tons of auto loan inquiries reported

because it is very likely you will be asked to explain each one individually.