In Feb 2008, my husband and I went to purchase a vehicle. We walked into the dealership with $30,000 in approved financing from our own lender, the dealership said they wouldn't take it so we walked. They had the used car we wanted so we came back in to speak with credit manager to have them reveiw our financing, changed tune said they could take it..BUT At their urging, We authorized them to see if they could get a better interest rate in house. Come to find out they generated 6 maybe more HARD INQUIRIES and the dealership we saw 2 days earlier(also with our own financing in hand) GENERATED 2 also...Over 1 car purchase!! We used our original financing we walked in with too! What can I do...Letter to dealership, finance co?? These would be off March next year but I am working on every point I can on FICO score in order to apply for mortgage financing this spring/ summer. Anything I can do in this situation, or should I wait the 4-5 months for them drop off?? ANY ADVICE PLEASE?
What are your current factors coming up on your credit report?? That is the most important thing because depending on your factors inquiries can have zero impact if there is negative data or balances etc on your report. You don't want to spend all that time for nothing if you know what i mean. Secondly, the company did have permissible purpose to pull your file. Many times in auto or home purchases they send out your file multiple times to try and see who will come in the lowest. Some scoring models will group inquiries within a short period of time (30 days) as a single inquiry for scoring purposes. The most important thing for you know is to look at your factors.
DahliMOMMA Wait 2-3 months, while you are waiting search this board and put together a really good inquiry dispute letter and then mail them to the companies that made the inquiries (you don't have to use CRRR for this). then wait a few weeks and dispute them with the CRA's, most should come off. If you want a more focused way to word your letters you can PM me and I will give you some suggestions about what you MAY want to put in the letter to help your cause. I had about 12 removed over a 2 month period.
