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Question By
Utley41

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4 hard inquiries on the same date for auto loan should count as 1
Why didnt 4 inquries on same day for car loan only ct as 1?

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Different Lenders

I'm guessing you had the dealer find you financing? When you do that, they just submit 4 credit applications to 4 different lenders and then choose whichever one has the lowest interest rate to offer to you. All 4 companies run your credit, so 4 hard inquiries. 

You can avoid this by getting preapproved from a lender and tell the dealer you are buying in cash, then they won't run your credit. But you might not end up getting an optimal interest rate either.

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Reply by
EddyTX

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Just walking into a dealer with a pre-approved loan doesn't prevent them from running your credit check. 

Dealers will run your credit at least twice,  once they have your name and the city you live in. According to Transunion and Equifax,  They don't need you permission to do so because they "pay for the services". 

This happened to me in January. Had a pre-approved loan from my credit union and they still ran the inquiries.

the reality is that the credit bureuas know this is going to happen.  Multiple inquiries in a short period.

After You have secured an auto loan and started making payments, they will generally discard the extra inquiries and only count the one that actually was approved against your score. They will stay on your report though but not count against you.

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