Quick Answer: Is It Bad To Apply For Multiple Car Loans?

Quick Answer: Is It Bad To Apply For Multiple Car Loans?

Looking for new credit can equate with higher risk, but most Credit Scores are not affected by multiple inquiries from auto, mortgage or student loan lenders within a short period of time.

Typically, these are treated as a single inquiry and will have little impact on your credit scores.

Can I apply for multiple car loans at once?

Often, the customer can pick the car they want, apply for credit, get approved and drive off the lot within a matter of hours, all without leaving the dealership. Because credit scoring systems count multiple auto loan inquiries as a single inquiry, shotgunning does not affect a person’s ability to qualify for credit.

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