Does getting a preapproved car loan online lower your credit score just by inquiring?
I want to see how much I can get approved for online for a new car loan. Places like HSBC.com offer online to get you approved for an amount and interest rate. I'm just wondering if this will lower my credit score just like if a few car dealerships inquires will….
years ago, inquiries no matter what they were for would hurt your score, since then they have changed it to where if there were inquiries within a certain time frame for the same type of loan – they would count as one, ie, car loan trying to get the best deal/interest rate – or a mortgage – loan trying to get the best rate as well.
Once you get the loan, you can dispute the inquires that you did not authorize, for example you apply at Joe Smith Ford, well they send it to Ford credit, and so on. You gave Joe Smith Ford authorization but not the others that they send it to.
years ago, inquiries no matter what they were for would hurt your score, since then they have changed it to where if there were inquiries within a certain time frame for the same type of loan – they would count as one, ie, car loan trying to get the best deal/interest rate – or a mortgage – loan trying to get the best rate as well.
Once you get the loan, you can dispute the inquires that you did not authorize, for example you apply at Joe Smith Ford, well they send it to Ford credit, and so on. You gave Joe Smith Ford authorization but not the others that they send it to.
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