ROYALLY P****D- Can I do anything?

[Bella1980]

I am really really upset. Is there anything I can do about this?

I applied for pre-approval with Capital One and Honda and was approved for 2.54 APR with Capital One.

I went to the Honda dealership and showed them the paperwork I was given by Honda showing I was approved. I said I would go with the Honda financing if it beat 2.54 but if not, I would go with Capital One. I did not give permission for them to apply to other banks for financing.

I ended up getting financing with Honda for 2.34% (I really got 0.9% but they jacked the rate up) and bought a new 2013 Honda CRV. Within one day, the airbag had popped up out of the dashboard and I had to return it to the dealership for it to go into service. My BRAND NEW CAR is still in service AND now I see that I have 3 more inquiries on my Equifax report- wells fargo, suntrust and C & B Motors, on top of the Capital One and American Honda Finance.

I am soo upset and frustrated. I feel like I really got screwed. Who buys a F*g brand new car and it is in service the next day and sees that the dealership F*g ran my credit 3 more times. I am in the state of FL.

Am I just basically screwed with no resources?

[Mike360]

If you go into a dealer asking them to beat rates then you should expect to see alot of INQ on your credit reports. Also it's not usual for a car to go into service like that. My 2013 Sonata had to go in right after i purchased it because the voice recognition system stopped working. they had to replace the whole radio.

[Bella1980]

I didn't ask them to beat the rate. I was already approved by Honda but they told me to go into the dealership to find out the rate. I asked the dealership what rate I was approved for and that was it. I was ready to use my other approval.

Also, thanks for telling me about your car. It is good to hear that I am not the only one something like this has happened to in regards to going into service right away!

[gkgk12]

Don't inquires count as one if they occur within the same general time frame for auto loans?

If so, you shouldn't worry too much.

[SamsungHDTV]

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@gkgk12 wrote:

Don't inquires count as one if they occur within the same general time frame for auto loans?

If so, you shouldn't worry too much.

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right, for scoring purposes it will all count as 1 inq as long as they are in all in a short time frame. The inq from cap 1, honda, and whoever else will count as 1. I'd be a little weird about the car, but dont worry about the inqs

[boomhower]

There's not really anything you can do.  Once you give them authorization to run your credit they are limited to just running Honda.  It's not impacting your score any so don't get worked up abou it.  Given your history you should have demanded the .9% knowing your credit was good enough to qualify for it.