How do Auto Loan Inquiries Impact your Credit Score?
Are you hesitant to go windowing shopping for a car loan because you don’t want multiple inquiries to hit your credit score? Or have you returned from a trip to a dealer to find out there are multiple inquires on your credit score?
Well good news, Credit Scoring Systems don’t look at all of those as individual inquiries. Dealerships send out your information to multiple lenders to try to get you the best rate. Credit Scoring Systems know this so they group together multiple inquires over a period of time (generally 14–30 days) so that only 1 inquiry is being considered against your credit score.