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Posted in Auto Loans
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Question By
Hulk0724

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Multiple inquiries of different types for one auto loan
I just reviewed my scores and the credit karma app is showing 10 hard inquiries in the last 24 months. 8 of which were within 48 hours of each other when purchasing a truck last October. Kicker is they are all reporting as different types of financing. Credit card, personal loan, auto loan, financing and even a small business loan?! I know if they all reported as auto loan, which they should, it would only hit my credit once. But they're not, they're all different. Should I dispute this???? Thanks!

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The types of financing is usually listed based on the firms line of business that made the inquiry.   When you walked into the auto dealer, they ran your credit under their name.  If the information showed a reasonable chance of approval, they started pawning your loan request off to various firms.  This was done until they found someone who would say yes.  You can only dispute hard inquiries if you did not authorize them athough, when you asked the dealership to find you financing, you actually gave them permission which is permission.   You can try to dispute directly with the vendor if you did not authoirzed the hard inquiry and request that they remove it.

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Reply by
faidros

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I was successful in having several removed directly with the lender when a family member applied for a car and listed me as a co-signer.  I had no knowledge of this and never authorized any pulls.   I wrote directly to the companies and was successfuly in having them removed. 

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The inquiries from "rate shopping" may affect your credit scores as one, but each and every single inquiry will be listed on your credit report individually.

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