Pulling of the Credit Score by the car dealership guy?

Question

Hi
I went to hyundai car dealership to buy a new car and they pulled my credit score to check out how much APR can be given to me.
and he told that any other dealership(Any Brand - Toyota/GM) can also pull the same and my score wont go down for the next 14 days .

Is that true or will my score come down for every pull made by the dealership?

*** I understand that if i pull my score 10 time..it wont bring it down.

Answer 1

The FICO formula was adjusted to allow you to 'shop' for loans without hurting your score. Multiple inquiries for the same type of loan over a short time are supposed to count as a single inquiry. The current time frame for rate shopping is 45 days.

Answer 2

not sure why interior have been given the great nasty THUMBS DOWN yet he's fairly splendid. Dealership credit assessments are weighted to components affecting vehicle finance. And, as he mentioned, this holds actual on residing house mortgages besides. he's fairly splendid and thusfar ought to be the terrific answer opposite to McCoys enter nevertheless, pulling diverse assessments in a quick timeframe for a particular purchase do no longer decrease your score. The honest-Isaak reportin gadget recognizes this as a signle purchase, and diverse inquiries concerning that purchase, and treats is as a single inquiry. each and every time somebody leaves a broker, they're questioning "rip-off". i'm specific there are some obtainable who nonetheless do business enterprise in the Nineteen Sixties shoot-out style. yet maximum persons are honest and honest companies. we'd want to make a deal and sell a motor vehicle. hence, if I "rip-off" you into questioning you have a decrease score than you fairly do - what ought to I probable benefit?

Answer 3

The dealer was telling you the truth. If you go to www.myFico.com, (the website for Fair Isaacs, it will tell you the same thing as well. Just make sure you keep the credit inquiries within 14 days.