Think a Credit Check Will Ruin Your Score? Think Again

One of the biggest myths in car buying is:

"I don't want you to run my credit because it'll tank my score!"

The truth? That's usually not how it works.

So, What Is a Credit Inquiry?

A credit inquiry simply means a lender takes a look at your credit report when you apply for financing. It's kind of like an employer checking your references before offering you a job.

There are two kinds:

✅ Soft Inquiries

1. Checking your own credit
2. Pre-approved offers

These don't affect your score at all.

📋 Hard Inquiries

1. Car loans
2. Mortgages
3. Credit cards

These may lower your score a few points—but usually only temporarily.

Here's the Good News 🚗

If you're shopping for a vehicle and several lenders check your credit within a short period (typically 14–45 days), most modern credit scoring models count those checks as one single inquiry.

So if Dealer A, Dealer B, and your bank all check your credit while you're rate shopping, you're generally not taking three separate hits.

Why Do Dealerships Check Multiple Banks?

Simple—we're trying to find you the best deal.

Different lenders offer different rates, programs, and approvals. One bank might save you hundreds (or even thousands) over the life of your loan.

The Bottom Line

Don't let the fear of a credit inquiry stop you from getting the vehicle you want.

A small, temporary inquiry is often worth it if it helps you:

1. Get a better interest rate
2. Lower your monthly payment
3. Build or rebuild your credit
4. Drive home in a vehicle you love

At MAG Chrysler Dodge Jeep Ram, we're here to answer your questions and help you understand the process—without the confusing finance talk.

Because buying a car should be exciting, not stressful.