My husband and I bought a new Toyota on Friday at a local dealership. We decided to go with the Toyota financing (0% woo hoo!). Before the salesman ran the report, I specifically asked him if this was only going to be one hard inquiry on each of our credit reports. He gave an emphatic YES. When he game back and told us that we'd been approved, he also said that he's shopped our loan to a local bank who offered a different rate. Sure enough, I checked my Transunion score today and BAM--two inquiries and my score went down 12 pts. Do you think I should dispute this or just get over it? Is this even worth complaining about? I was only 3 points away from 800 dammit!!
@severine wrote:My husband and I bought a new Toyota on Friday at a local dealership. We decided to go with the Toyota financing (0% woo hoo!). Before the salesman ran the report, I specifically asked him if this was only going to be one hard inquiry on each of our credit reports. He gave an emphatic YES. When he game back and told us that we'd been approved, he also said that he's shopped our loan to a local bank who offered a different rate. Sure enough, I checked my Transunion score today and BAM--two inquiries and my score went down 12 pts. Do you think I should dispute this or just get over it? Is this even worth complaining about? I was only 3 points away from 800 dammit!!
Yeah something to just get over. Not worth complaining about. Sucks though cause is like they either don't know what they're talking about or just dont care. Either way, further efforts wont get you far.
The score drop came from the intial inquiry. Subsequent auto loan inquiries in a short time frame are ignored for scoring purposes.
Starting Score: 515