I recently but a car in Sept 09. I checked my CR recently and noticed 5 inquires all on same date from different lenders. I never knew they were going to mass inquiries. Am i just screwed for 2 years until they fall off?
Other creditors will see 5, but they should be able to tell why they happened. It won't be a problem, and if you do run into a snag, it will be easy to explain why you had all those inquiries on a single day.
Next time, when you shop for the car, make sure they dont send out your app to all the banks in the world.
Next time walk in with an approved check from your credit union. This way they won't pull at all. As for the inquiries any lender that sees them in these times is going to see 5 not 1.
