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Multiple Auto Loan Inquiries Count Only as One

Dear Experian,

I was shopping for a car recently and multiple lenders checked my credit. I have checked my credit report and all inquiries are showing up. I thought when shopping for a car the inquiries count as one?

– SLA

Dear SLA,

It is very common for an auto dealer to contact multiple lenders in an effort to find the best car loan terms. An inquiry will be added each time a lender checks your report. Experian lists each inquiry to ensure you have a complete record of who has reviewed your credit history.

Credit scoring systems recognize that the inquiries are all for the same purpose and automatically count them as a single inquiry when calculating the credit score. The same is true for mortgage lending.

So, you can shop for the best rates for a car loan or mortgage loan without worrying about the impact of multiple inquiries on your credit scores.

Thanks for asking.
The “Ask Experian” team

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