Help w/ Question about applying for Cap1 or CU type of Finance

[Anonymous]

Hi,

I am planning on trying to buy a car next weekend.  I want to follow the suggestions here to try Cap1 and CU financing ahead of time to see what % I will get before I walk into the dealer.  However, I'm afraid by doing so my score will go down on that pull enough to cause an issue when I go to the dealer - will it?  I have 2 inquiries on Equifax and 3 on TU and Experian.  What will that 3rd (or 4th respectively) do to my score? I realize once I go to the dealer and they pull, all of those hits will eventually count as 1.

I will pull my FICO beforehand but right now I have a 746 EX, 650 TU and 689 EQ (regular scores)

Thanks!

[twinRN]

I would go ahead and apply.

About three weeks ago, I went into a Hyundai dealership. Was close to purchasing, they ran my credit, etc.  Today I applied for an auto loan through the Capital One Blank Check program. Neither has impacted my score.

I took the advice I received from the helpful people on here and decided to get outside financing so the dealer can try to beat it when I go later this week.

Good Luck!

[Anonymous]

While on a manual review, a lender might not like multiple inquiries, multiple inquiries for an auto loan within a 15 day period (minimum.. some go up to 45 days) are all counted as one inquiry as far as your FICO score goes, so long as the lender is checking using the correct code. That's why Lending Tree is able to get away with sending your info to multiple banks. Most companies will understand when doing a manual review.