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Hello all, Sorry if this isnt the correct place to post but here is my question(s). Back on February 8th 2015 I went to my local Kia dealer to just look. Long story short I agreed to let them pull my credit as i did want to lease a new car. Well they came back and told me my credit was so good that i could have any car i wanted with no money down. Ok fine, I signed all the papers and was told to come back in 1/2 an hour and my car would be ready. So went to lunch came back did the handshack and off i went. Checked my reports the next day and saw they pulled all 3. Ok Im fine with that. Well 8 days later I checked again and was shocked to see that they pulled again from EQ. Thats 2 inquiries on it now, (just 2 on EQ and 1 each on EX and TU no other inquiries) I called and was told that the the leasing company (with is KIa mind you had to pull it. WHY couldnt the dealership just fax the report to them the same day they pulled it. Now i feel those 2 inquiries are hurting my credit as opposed to 1. Now i refuse to take my car to that dealership for any service it may require. They cant force me to bring it there for service can they? Even when the lease is up I am not returning it to that dealership. They messed with the wrong person.
When you let a dealership pull your credit, you are very, very lucky if you only walk away with four pulls over three bureaus! You should hear the horror stories from people who've naively allowed their credit to be pulled by a dealer, only to have the dealership hit them with 10 or 15 inquiries.
The two pulls you had on EQ are perfectly legit even if you don't like them. ALSO, if they are properly coded as auto loan/lease pulls, two will still be counted as one for scoring purposes.
You are working up a very big grudge over a very small matter. Take a deep breath and enjoy your new car.
You have a legitimate issue. They should have used the ones they pulled. See if you can have them retract the additional one. I doubt they will.
Dealers don't know or probably don't care that pulling a lot of HPs do cost a fair number of points. Why? Most of the time the HPs are not all coded correctly. I bought a new car last November. I learned the hard way that they will pull as many HP as they can. I'll never do that again. I'll head to my credit union first, get the best deal from them and take their check with me. I had 10+ pulls. I was pissed too once I saw all those pulls. It's going to be interesting for me to see how many points I get back once the 1 year mark passes.
I'm not sure there is much you can do now. Don't be too pissed. Enjoy your new car. Enjoy your good credit. Have a great weekend. And chalk this up as a lesson learned.
Stuff happens.
@Anonymous wrote:You have a legitimate issue. They should have used the ones they pulled. See if you can have them retract the additional one. I doubt they will.
Dealers don't know or probably don't care that pulling a lot of HPs do cost a fair number of points. Why? Most of the time the HPs are not all coded correctly. I bought a new car last November. I learned the hard way that they will pull as many HP as they can. I'll never do that again. I'll head to my credit union first, get the best deal from them and take their check with me. I had 10+ pulls. I was pissed too once I saw all those pulls. It's going to be interesting for me to see how many points I get back once the 1 year mark passes.
I'm not sure there is much you can do now. Don't be too pissed. Enjoy your new car. Enjoy your good credit. Have a great weekend. And chalk this up as a lesson learned.
Stuff happens.
This is incorrect. Kia financing is not the kia dealership. The dealership picks your best score, then tells the financing company to use that, but they will always pull your credit. I had a similar experience with Ford financing recently, my EX was highest, so the dealer sent that info to Ford Motor Credit, who also pulled my EX. If they just listened to the dealership a whole lot of fraud would occur to get people into nicer/more expensive cars than they could really afford.
2 inquiries is nothing, will have no effect on your score, is totally valid in this situation, and is nothing to worry about at all. This site overvalues inquiries sometimes, you have nothing to be concerned about. Enjoy your new car.
This is exactly why I will get financing before I go to a dealership. I have heard horror stories from friends. I had it happen to me a couple of years ago with 6 inquiries.
@Anonymous wrote:
@Anonymous wrote:You have a legitimate issue. They should have used the ones they pulled. See if you can have them retract the additional one. I doubt they will.
Dealers don't know or probably don't care that pulling a lot of HPs do cost a fair number of points. Why? Most of the time the HPs are not all coded correctly. I bought a new car last November. I learned the hard way that they will pull as many HP as they can. I'll never do that again. I'll head to my credit union first, get the best deal from them and take their check with me. I had 10+ pulls. I was pissed too once I saw all those pulls. It's going to be interesting for me to see how many points I get back once the 1 year mark passes.
I'm not sure there is much you can do now. Don't be too pissed. Enjoy your new car. Enjoy your good credit. Have a great weekend. And chalk this up as a lesson learned.
Stuff happens.
This is incorrect. Kia financing is not the kia dealership. The dealership picks your best score, then tells the financing company to use that, but they will always pull your credit. I had a similar experience with Ford financing recently, my EX was highest, so the dealer sent that info to Ford Motor Credit, who also pulled my EX. If they just listened to the dealership a whole lot of fraud would occur to get people into nicer/more expensive cars than they could really afford.
2 inquiries is nothing, will have no effect on your score, is totally valid in this situation, and is nothing to worry about at all. This site overvalues inquiries sometimes, you have nothing to be concerned about. Enjoy your new car.
This post is spot on. I've seen customers come in trying to buy "too much" car for their income and complain about all the pulls other dealers had done on their credit. When we pulled their credit, each pull was from a different dealer. Also too, customers who "shop" for cars at different dealers trying to get a great deal. There is a reason for every pull, and a good CA will notice and understand a trend. Congrats on the new car!
@Anonymous wrote:This is incorrect. Kia financing is not the kia dealership. The dealership picks your best score, then tells the financing company to use that, but they will always pull your credit. I had a similar experience with Ford financing recently, my EX was highest, so the dealer sent that info to Ford Motor Credit, who also pulled my EX. If they just listened to the dealership a whole lot of fraud would occur to get people into nicer/more expensive cars than they could really afford.
2 inquiries is nothing, will have no effect on your score, is totally valid in this situation, and is nothing to worry about at all. This site overvalues inquiries sometimes, you have nothing to be concerned about. Enjoy your new car.
This is spot on. There is INQs from the dealer and one from the captive lender. That is just the way it works.
OP - the dealer did nothing wrong, neither did Kia finance
I understand your frustration but I wouldnt get too worked up about it. The dealers pull scores to see if you are qualified in a tier which has preagreed criteria, I am not too surprised that the leasing company might want to pull it themselves as part of their final approval process. It is unfortunate but it is not going to ruin your credit. You can dispute those pulls and see if they will remove them.