I have a lease deal in principle and moving on to getting Hyundai financing approved. If I use the dealer’s online credit application will Hyundai Motors Finance also pull my credit? I want only one credit pull for this transaction if possible.
You should call your Hyundai dealer and find out if they can do a soft pull.
Many dealers are able to do this without incurring a HP.
My Honda dealer recently did a SP for a used Pilot I was looking and they pulled Experian Auto score.
If you are signing the lease with this dealer, you can’t control how many pulls on your credit, and more than one won’t affect your credit score in the newer fico models.
If (for instance) you fill out the credit app today, and sign tomorrow, it’s possible it gets run a 2nd time. If your contract gets returned in a week and needs to resign, for some brands they will rerun it again to ensure no other changes to your trade-lines. As long as you only open one auto lease from these inquires, the impact is the same whether it’s 1 pull or 3.
If a dealer wants to pull credit to quote a lease, tell them to pound sand
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I did this three years ago. And the dealer still pulled credit. So there were two hard inquiries on my credit.
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Do not give them permission to do so, if they do go after them.
Scoring models will merge them to one …so
Operationally, it is standard for the dealer to pull your credit bureau (to verify tier with the lender, identity verification, and other reasons) and then continue to submit you to the bank or banks. It will count as two hits. It makes 0 difference to your credit, let them run it as many times as they please.
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