Auto loan shopping and credit inquiries

[myb821]

If i want to shop for an auto loan will multiple inquiries in a 2 week period combine into one like they do for mortgage shopping.

[Fan of Dan]

I got 3 pulls 2 years ago when I was shopping around, which did not combine.

[myb821]

this is what I found im not sure what to do

[jaywhy]

I got 3 pulls 2 years ago when I was shopping around, which did not combine.

I got a bunch of pulls as well.

[Smokey Joe Robinson]

this is what I found im not sure what to do

may as well get 9 cards (3 3bm) and make enough dough to buy your car outright 

[CountValentine]

If i want to shop for an auto loan will multiple inquiries in a 2 week period combine into one like they do for mortgage shopping.

FICO will combine the inquires for their score calculation. AFAIK then will not combine on your CR.

[whYME]

FICO will combine the inquires for their score calculation. AFAIK then will not combine on your CR.

+1
IIRC inquiries within 30 days are supposed to count as 1.

[lfas25]

+1
IIRC inquiries within 30 days are supposed to count as 1.

This is correct, or at least that is the way it's supposed to be.

[noturbizniss]

+1
IIRC inquiries within 30 days are supposed to count as 1.

That's for home mortgages. Not sure that applies to auto loans.

[CountValentine]

Not sure that applies to auto loans.

Straight from myFICO:
"most credit scores are not affected by multiple inquiries from auto or mortgage lenders within a short period of time. Typically, these are treated as a single inquiry and will have little impact on the credit score."

They are talking FICO score not your CR. They still all show on your CR.

[lfas25]

That's for home mortgages. Not sure that applies to auto loans.

I was told by a "credit repair" agency that it applies for auto loans as well.

[noturbizniss]

I was told by a "credit repair" agency that it applies for auto loans as well.

Straight from myFICO:
"most credit scores are not affected by multiple inquiries from auto or mortgage lenders within a short period of time. Typically, these are treated as a single inquiry and will have little impact on the credit score."

They are talking FICO score not your CR. They still all show on your CR.

I stand corrected.

[myb821]

Thanks everyone