Looking for a car found out credit was shotgunned!

[Carloscda40]

Went to a dealer tonight and he was the only one to tell me this, I had no idea that my credit was shopped around so much?!

All the way back to 2010 when I was looking for a car. How long with this stay on my credit & how bad has this damaged my credit?

[pizzadude]

Almost every car dealer does this.   Most will have a network of companies that they use, and they want to have the best chance to get your financing approved. 

All of the inquiries will show on your CR individually.   However from a FICO perspecitive they are only scored as one inquiry, within a certain window, like 30 - 45 days or so, depending on the FICO version, and also assuming that the inquires are all coded as AUTO financing inquiries.

All inquires lose their scoring ding after one year.

[Anonymous]

---

@pizzadude wrote:

Almost every car dealer does this.   Most will have a network of companies that they use, and they want to have the best chance to get your financing approved. 

All of the inquiries will show on your CR individually.   However from a FICO perspecitive they are only scored as one inquiry, within a certain window, like 30 - 45 days or so, depending on the FICO version, and also assuming that the inquires are all coded as AUTO financing inquiries.

All inquires lose their scoring ding after one year.

---

+1

But did you get approved for the loan or not???

[Carloscda40]

Well thats good to hear. They had me down visting the same Dealers more than than once? 

[Chaos122]

Happened to me last year too, went to 2 dealershups and ended up with like 14 inquiries total.  Fico only counts as one, but I still got flack for it when talking to underwriters doing manual reviews when i applied for a personal loan.  I learned my lesson, next time ill arrange my own financing through my CU ( ended up financing through them anyways)