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Multiple Auto Loan Inquiries still impacting score

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Multiple Auto Loan Inquiries still impacting score

I was under the impression that when shopping around for an auto loan that even though it is multiple inquiries, it will reflect as 1 since you were shopping around for the same thing. However, my score is still being negatively impacted several months later saying i have too many inquiries. Has this changed?? How can i fix this?

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Re: Multiple Auto Loan Inquiries still impacting score


@choochgrim84 wrote:

I was under the impression that when shopping around for an auto loan that even though it is multiple inquiries, it will reflect as 1 since you were shopping around for the same thing. However, my score is still being negatively impacted several months later saying i have too many inquiries. Has this changed?? How can i fix this?


Theoretically this is true but in practice it isn't.  Nothing you can do about it.  This is one of many reasons I always bring my own financing to the dealership via a credit union.  If I let them try to beat the rate I only allow them to shoot the app to one lender.  Most dealers shot gun apps to 4-7 lenders and every lender runs a report so they add up quickly.

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