Multiple Inquiries???

Anonymous · ‎01-18-2010

I applied for a loan for a vehicle at an out of state dealership. I was approved but, when I got a credit report a few months later I learned that the dealership had put in multiple inquiries to multiple loan institutions; somewhere around 10-12 inquiries. I didn't buy the vehicle because it sold before I could purchase it but now I have all these inquiries. Will I be stuck with all these inquiries? Is there anything I can do?

Anonymous · ‎01-18-2010

As far as I know INQ's made within 30 days while shopping for a car count all as 1. I do not let dealerships shotgun my CR anymore and actually state to them that I do not want them to do it. It's better to find a place yourself.

Jazzzy · ‎01-18-2010

@Anonymous wrote:
I applied for a loan for a vehicle at an out of state dealership. I was approved but, when I got a credit report a few months later I learned that the dealership had put in multiple inquiries to multiple loan institutions; somewhere around 10-12 inquiries. I didn't buy the vehicle because it sold before I could purchase it but now I have all these inquiries. Will I be stuck with all these inquiries? Is there anything I can do?

You may have to be prepared to explain these inquiries when you app for future credit. Just because FICO counts these inquiries as one does not necessarily mean that creditors' automated systems count them as one. I understand your frustration.