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Posted in Auto Loans
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Quibbles

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To many hard inquiries from car dealership when I asked them to only do one.
I recently was approved for an auto loan through my bank for a car I wanted to buy at a car dealership. The salesman convinced me to allow him to check and see if they could beat the interest rate that my bank offered. I didn't want to let him because I was trying to rebuild my credit from a previous bankruptcy and the bank had offered me a 4.75% interest rate and I felt they couldn't beat that with my credit. He said he would knock off $1000 if I financed through them and if they couldn't beat the 4.75% interest rate, he would knock off $500 for allowing him to check it. Reluctantly, I agreed but under the condition that he only check my credit once. The company ran my credit through 8 different finance companies and wasn't able to beat the bank's interest rate. Then on top of that, he said his boss wouldn't let him knock off the $500 either. Needless to say, I found a car elsewhere. My credit took a big hit because of all the inquiries. My question is: Is there a way to get these hard inquiries off of my report or at least get them bundled somehow so that they don't hurt my credit so much?

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This is not such an issue as you think.  Scoring models allow for you to shop loans for cars and homes without the inquiries hurting your score. They look at the timeline and see a bunch pulled within a week (in some models even more) and consider it just one hard pull.

Also inquiries lose their effect on your score rather rappidly, within a few months, and by the time they drop off you generally only see a very small increase in score.

I am sorry you had this happne, but know that they were really trying to get you a better rate, and just be more aware that in a dealership if you give them the info to run a report it WILL be run many times, I have seen people claim over 20 here on the boards.

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In addition to what Nomadre said, I would be writing reviews on this dealership on every forum I could find to warn others of their practices, salespeople like that are complete scumbags.

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