Pre-approval before the dealer: how not to collect extra hard inquiries

The dealer's finance department earns on the rate spread, so it sends the application to several banks at once. Each one makes an inquiry. In Alexander's case four such inquiries went out without his written consent and were disputed.

1. Get pre-approval at your own bank or credit union before the visit. That's one inquiry and a clear rate.
2. All auto loan inquiries within a 14-day window (up to 45 in newer FICO models) count as one. Don't stretch your search over months.
3. Give the dealer consent to a credit check in writing and only for the banks you name yourself.
4. Negotiate the price of the car, not "how much per month": a long term hides the overpayment.

If inquiries have already appeared without consent, they can be disputed: the bureau will request the permissible purpose from the source under FCRA § 604.