topic Re: Disputing Inquiries in General Credit Topics

Disputing Inquiries

Anonymous — Thu, 29 Mar 2018 16:09:22 GMT

Hi. Does anyone known how to dispute auto finance inquiries? When I went to my local dealership they ran my credit a million times before they decided to go their company. Now I have a bunch of inquiries on my report. I never authorized them to run it for anyone other than their company.

Re: Disputing Inquiries

Anonymous — Thu, 29 Mar 2018 16:19:21 GMT

@Anonymouswrote:
Hi. Does anyone known how to dispute auto finance inquiries? When I went to my local dealership they ran my credit a million times before they decided to go their company. Now I have a bunch of inquiries on my report. I never authorized them to run it for anyone other than their company.

You might not be able to dispute those...when you sign to have them run your credit, they run it and the system searches for banks that will approve you. This is why people are always encouraged to go a local credit union.

Sorry OP.

Re: Disputing Inquiries

Anonymous — Thu, 29 Mar 2018 16:31:36 GMT

Ok thanks!

Re: Disputing Inquiries

K-in-Boston — Thu, 29 Mar 2018 17:03:11 GMT

Welcome to the forums! The good news is that for scoring purposes, multiple auto inquiries in a short span of time will usually only count as 1 since it is expected that a consumer will be shopping for the best rate for a loan. That is not always the case, and of course the dealer usually gets a kickback from the lender so you may get a shady dealer that tries to talk you into a specific lender because their commission is larger. And fortunately, I have not been on the receiving end of the "scattergun approach" I've read about here where it might go to 10+ lenders, just generally 2 or 3 lenders that the dealer thinks would offer the best rates. Personally, it's worked out well for me in the past as the dealer has usually been able to provide me a better rate (and nearly free 0.9% manufacturer financing on my last purchase) than I could get elsewhere.