Auto loan inquiries

[meeklo062704]

When I purchased my car in early March I had 4 inquiries. I ran CapOne blank check, then let the dealer with their lenders. I got 6 inquiries in a 5 day span, and got my loan from the dealer. I was under the impression that all inquiries for an auto loan in a 30 day period count as one inquiry, but my report is showing 11 inquiries. One of them was a credit card that I grabbed to garden with after hoarding my inquiry count to save up for the auto loan.

My question is did something go wrong, do lenders who pull credit see a lower number, or do all of the inquiries show up just when I look at my personal credit report?

[ds3]

They eventually merge into one. It sucks when a dealer shotguns your app at a bunch of banks, but it all works out. As long as you don't keep applying for months on end waiting for the right loan, you will be fine.

[Anonymous]

They don't ever merge into one.  I bought 3 cars in the last year and every inquiry is still there.  It only counts as one inquiry ding on your SCORE if they are all done within 14 days and coded correctly.  They still show as an inquiry.  That alone is the reason I will be taking a check from my credit union from now on to purchase a vehicle or tell them specifically which lender I want to deal with and only authorize them to pull that lender.  All those inquiries have negatively affected me getting approved for some things but I am nearly 3 months from my last car so I am starting to lessen the impact and will not be going threw that again.

[meeklo062704]

I hear you on that one. This will be my last purchase with not so great credit. I was a 668 auto enhanced on the paperwork. I got initially denied from capital one blank check, then approved by them at the dealer for $30,000 @ 8%. Gotta love lenders.

[ds3]

Sorry, that's what I meant when I used the term merge...they only count as one hit. It gets easier when you can just apply at one bank and they don't blow your CRs up.