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Car buying question, regarding credit report?

Hey guys, I started going around looking to buy a new car. Went to the first dealer the other day and they got a credit report on me. Went to a second dealer today and they wanted to do the same. When they getthe first one, isn't that information in some kind of general website that these dealers access (for a certain amount of time) so I don't have to get my credit checked every single time I go to a dealer? I just don't want for my credit to go down every time they check, or is this the way it is? Thanks!

3 Answers

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  • 10 years ago
    Favorite Answer

    The F.I.C.O. system is designed to know when people apply for either vehicle or home loans so when they do all inquiries made within 30-days are lumped into 1, they all show but your score only takes 1 hit.

    Source(s): Finance Manager for a car dealer for over 11-years.
  • Anonymous
    10 years ago

    Each dealer must look up your credit as you are car shopping so that they don't get you looking at cars that you cant afford. You cant even take in your own credit report because legally they aren't supposed to accept them. (You can apparently fake them.) So Unfortunetly, each dealer you visit, they will do a credit check. Thankfully, they only have to do it on your very first visit.

    Source(s): Father owned and ran a car dealership for 25 years.
  • 10 years ago

    you should not get your credit checked until you are actually ready to buy a car. All auto loan pulls made in a 3 day period count as 1. My neighbor went shopping every week because he likes too but let everyone pull his credit and lost 70 points

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