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Established Member
ryguyasu
Posts: 16
Registered: ‎08-27-2007
0

Motorcycle / Recreation loan Question -

searched in the stickies and couldn't find it. 
 
I know for home and auto loans, you have the 2 week period to shop around and it only counts as one pull, and doesn't affect score for 30 days.
 
question is, do these rules apply the same for a motorcycle loan.  Some credit unions lable it a recreation loan.  I plan on getting a bike, but want to make sure i'm allowed to shop around for loans without it hurting me.
Super Contributor
ShanetheMortgageMan
Posts: 8,254
Registered: ‎09-28-2007
0

Re: Motorcycle / Recreation loan Question -

I'm not sure of the answer but you could always call the banks/CU's you intend to apply with and ask what they consider it.
Moderator Emeritus
fused
Posts: 16,373
Registered: ‎03-12-2007
0

Re: Motorcycle / Recreation loan Question -

If all of the inquiries are coded as auto related, FICO's "de-duplication" window would count them as one. If not, your scores will take a bigger hit.
Credit Profile -
FICO 08 Scores (11-08-2014): EQ 818, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 26+ years ~ AAoA: 12 years ~ Util: 1% ~ Inqs: EX 1


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