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Several Inquiries for Auto Search. Thought it would only show as one?

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Trudy
Valued Contributor

Several Inquiries for Auto Search. Thought it would only show as one?

Everything I've read says that if different lenders pull your credit during the search for a car it will be considered one inquiry if within a certain time frame.  I have 4 pulls between 2 consecutive days.  Is there a way to have this changed?  I ultimately went with one of the lenders.  Not sure how much it impacts my score but if that's how it's suppose to work, it didn't work :-(.

 

FICO - 8: 05/05/23
Message 1 of 5
4 REPLIES 4
CH-7-Mission-Accomplished
Valued Contributor

Re: Several Inquiries for Auto Search. Thought it would only show as one?

The inquiries are supposed to score as one inquiry but they are all listed separately on your credit report.   There is no way to know how FICO scored them.   Also the companies making the inquiries must code them as auto inquiries from what I've read.   I'm not real clear on how this works but say a credit union did a regular inquiry, it would not merge for scoring purposes.

Message 2 of 5
Trudy
Valued Contributor

Re: Several Inquiries for Auto Search. Thought it would only show as one?

2 are banks and 2 are CU, so this may be the issue.  I guess I will ask if they were coded for auto as that may also be the issue.  I'd been gardening for more than 5 years before needing a new car.  Now it looks like I'm shopping around.  Thanks for your reply.  

FICO - 8: 05/05/23
Message 3 of 5
Anonymous
Not applicable

Re: Several Inquiries for Auto Search. Thought it would only show as one?

As mentioned above, all four inquires will show on your CR, but they are grouped together for scoring pursposes, only affecting your credit as one inquiry. So you will see all four, and anyone who pull's your credit will see all four, but for scoring purposes you are only docked for them as one inquiry, rather than four.

Message 4 of 5
Trudy
Valued Contributor

Re: Several Inquiries for Auto Search. Thought it would only show as one?

Thanks for the clarification.

FICO - 8: 05/05/23
Message 5 of 5
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