[Buckeyes]

If I got my credit approved by BMWFS a few weeks ago, will that credit approval # be good for other dealerships? I’d hate to ping my credit report while already having an approval that’s good until 8/31/23. Thanks

[ChemLab]

Your application will be fine at any dealer - assuming we are talking US as I haven't a clue how that works in other countries.

Your rate may differ, however, as some dealers mark up your rate.

[Berzerker]

Originally Posted by Buckeyes

If I got my credit approved by BMWFS a few weeks ago, will that credit approval # be good for other dealerships? I’d hate to ping my credit report while already having an approval that’s good until 8/31/23. Thanks

Valid for 90 days I believe. Check with BMWFS.

[gs1403]

I’m pretty sure approvals do not transfer from dealer to dealer

[BzsBimmer]

Originally Posted by gs1403

I’m pretty sure approvals do not transfer from dealer to dealer

That’s what I thought as well since the online application asks for a specific dealer but tbh I’ve never tried.

[Melo_F90]

Originally Posted by ChemLab

Your application will be fine at any dealer - assuming we are talking US as I haven't a clue how that works in other countries.

Your rate may differ, however, as some dealers mark up your rate.

They do not transfer dealer to dealer. If OP looks elsewhere to purchase a car they will run his credit again.

[Berzerker]

While the new dealer wouldn't honor the report for that other dealer specifically, if they're getting BMWFS to run the credit again, they may not need another hard pull and BMW can use information if it's within the last 30-60-90-whatever days.

[sullytaylor]

Credit scores are specifically designed to allow you to shop around for the best rate with no additional impact beyond the first hard inquiry:

… FICO® considers similar loan-related inquiries that have occurred within 45 days of each other as a single inquiry in the scoring process.

For example, if you shopped around for an auto loan with five different lenders over a period of 45 days, FICO® would consider those five hard inquiries as one hard inquiry for credit scoring purposes. This is because the inquiries all occurred within 45 days of each other, and FICO® understands that you were rate-shopping for one loan, not five loans.

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