Author Topic: Auto financing  (Read 712 times)

Offline Help

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Auto financing
« on: December 10, 2021, 09:25:28 AM »
I purchased a new vehicle and applied for financing through the dealership, and I see on my credit report 5 inquiries.
Is that how it’s usually done and is there anyway I can dispute it?

Offline Pad18

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Re: Auto financing
« Reply #1 on: December 11, 2021, 09:09:18 PM »
Dealership inquiry with a few lender to make sure that at least one will approve you, and also witch one will give them the best offer to them.

Now, regarding your 5 inquiries, for the credit bureau it's count as one if they are done in a period of xx (14 days!?! but nit sure the exact time)

But I agree it's very upsetting that the dealership was not transparent with you. But what exactly did you expect ??

Offline WonderingYid

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Re: Auto financing
« Reply #2 on: December 11, 2021, 10:19:29 PM »
Dealership inquiry with a few lender to make sure that at least one will approve you, and also witch one will give them the best offer to them.

Now, regarding your 5 inquiries, for the credit bureau it's count as one if they are done in a period of xx (14 days!?! but nit sure the exact time)

But I agree it's very upsetting that the dealership was not transparent with you. But what exactly did you expect ??
I purchased a new vehicle and applied for financing through the dealership, and I see on my credit report 5 inquiries.
Is that how it’s usually done and is there anyway I can dispute it?
All the dealers do this without telling you. On a side note, you may get a better rate if you apply yourself thru your own bank.

Offline Help

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Re: Auto financing
« Reply #3 on: December 12, 2021, 10:23:36 AM »
But what exactly did you expect ??
I was expecting 1 pull and using the same credit report for all the lenders, I guess.