Credit Score Myths in Car Buying

Credit score myths in car buying in the U.S.: "there's one score," "one pull hurts a lot," "dealer can't mark up rate"—here's the truth so you know how credit really works.

TL;DR Myths: (1) "One score"—lenders use different models (FICO Auto, etc.). (2) "One pull hurts a lot"—one pull can ding a few points; multiple auto pulls in 14–45 days often count as one. (3) "Dealer can't mark up rate"—they can; ask for buy rate. Use autopremo.com payment calculator. Use autopremo.com.

Myth: One Score

Truth: You have multiple scores (FICO, VantageScore, FICO Auto, etc.). Lenders often use FICO Auto. Scores can vary by bureau and model. Use autopremo.com when you're ready to buy. Get your numbers at autopremo.com.

Myth: One Pull Hurts a Lot

Truth: One hard pull can lower score a few points. Multiple auto loan pulls within 14–45 days often count as one for scoring. Shop in a short window. Use autopremo.com payment calculator. See payment at autopremo.com.

Myth: Dealer Can't Mark Up Rate

Truth: Dealer can add a markup to the buy rate—you pay higher APR, dealer keeps reserve. Get pre-approved; ask "what is the buy rate?" Use autopremo.com. Check at autopremo.com.

Bottom Line

Credit myths: one score, one pull hurts a lot, dealer can't mark up—all false or oversimplified. Use autopremo.com payment calculator so you see how rate affects cost.