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Posted in Auto Loans
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JerryBee7

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New car purchase caused tons of hard inquiries are they there for 2 years?

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All these inquiries are valid information and they are probably there to stay, but they're really nothing to worry about. Anyone looking at your report is going to understand the concept of rate shopping and not be alarmed at the number of inquiries done at the same time. Most scoring models will consider the group as only one inquiry. In other words, it doesn't matter if you had one inquiry or ten on that day for the same purpose--the effect on your score will be the same. 

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This often happens with new car purchase

the car dealer "Shopped your loan" meaning that they contacted several lenders to find you a loan.  Some of these may fall off on their own, But i would dispute all the inquiries from companies that you did not get the loan from. you can do it at the websites for the credit bureaus or you can do it in writting.  You may not be able to get them all off but it couldn't hurt. 

Good luck  

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