Quote:
Originally Posted by MrChrisLS3
A credit application is good for 30 days, so there would be no need for another inquiry. As I mentioned, when a customer has great credit, has always had great credit, there is never a problem getting the best rates and terms. A few inquiries isn't going to effect that when buying a car. Now, if the credit was marginal or poor, then, yes, there might be an issue, but again, the credit profile is the tell all to the bank.
As far as dealer locates, yes, it is more difficult for us now, especially on higher trim vehicles, but it's still being done.
|
But it's only good at the same place that did the original inquiry. If he goes to a new dealer (because this one seems shady), then it has to be run again. I closely monitor my credit score and credit report and always see an increase when the hard inquiries drop off (although not a lot as my score is good in its own right).
Dealers in my areas are NOT doing locates because of the shutdowns and restrictions. And lack of inventory to begin with. And losing out on the back-end cash for what they trade away (well, not losing, but significantly delaying). They'd rather sell it themselves. Digital sales has NEVER been a strength for car dealerships and the current situation is finally forcing them to re-evaluate their approach (or be stuck with miserable sales).