2 Hard Inquiry from car dealer.

[Anonymous]

Hey guys
I signed as a CO signer on my wife’s car that she financed.
After a year I just paid attention that there is 2 hard inquiry from that dealership that I never was aware of they told me it will be only one.
One inquiry is Automotive and that is the dealership
And the other one is Finance and that from the credit place who gives me the loan.
Is that how it’s working? It’s ok?

[Girlzilla88]

If you only got 2 that's pretty good     I have seen people with over 70 hits from a Dealership before YIKES!!

[RSX]

I have always received the double hit.  Dealer and FS company

they are supposed to be counted as 1 by the underwriters.  

[RobertEG]

It is common and acceptable.

When you initiate any request for credit by applying, that becomes a permissible purpose for parties involved in the application for credit to obtain and use your credit report.

Each inquiry that is filled by a CRA will still show in your credit report.

However, for scoring purposes, they are treated in the scoring algorithms as only a single inquiry, and then only for a period of one year.

[Anonymous]

When I bought my car four years ago, I had thirteen hits on my credit. Not doing that again! I will shop for car loan first. I had no idea that would happen. I am a much more informed car buyer now. Sorry that happened to you.

[Mv350]

I had this happen to me last year when I purchased my car, 14 HP from them. They are 11 months old right now. Hopefully not scorable starting next month.

Last time I ever give the ok for the dealer to pull anything. I'll walk in with a pre approval next time.

[Girlzilla88]

It's usually a month AFTER the 12 months so if November they are 12 then December you should be sitting a LOT better

[Girlzilla88]

@Musiclover YES this is something I wish a lot LOT more people knew about to get financing BEFORE so they Don't run a bunch of times OR to ASK THEM to only run it X amount of times and get that SIGNED stating that....people don't know you can ask a dealership hey I dont' want my credit run more than X times....as long as you get it written/signed they can't go over that

[OmarR]

I would also think that the lower the credit score, the more HP's will exist.

Since the dealer is throwing out a shopper's profile out to as many finance companies as it can to see what sticks and gets approved.

[FireMedic1]

Look at it this way. Less HP's than applying for a Cap One card.