Comment from John G
Time July 19, 2009 at 2:45 am

Inquiries stay on your credit report for two years, but they only count against your credit score for one year. When you applied for an auto loan at a dealership, they more than likely had several creditors check your credit to get you approved and/or get the best interest rate. However, all auto and mortgage inquiries should count only as only one inquiry if they are all done within 30 days. The only reason I see this could hurt your credit score is if your auto inquiries were spaced apart over 30 days.
Inquiries are not nearly as damaging as late pays, collection accounts, chargeoffs, or bankruptcies. However, if you are applying for a mortgage, one recent inquiry can be enough to put you at a higher interest rate. If you are in the middle of getting a mortgage, it can be enough to get you turned down! If you plan on getting a house, if possible do not apply for credit one year before trying to obtain a mortgage.

Comment from Sgt Big Red
Time July 19, 2009 at 3:06 am

Inquiries will stay on your report for 2 years, but they do not always mean they are bad for your score. They only account for 10% of our credit score.
The score allows for “rate shopping.” If you’re looking for a mortgage or an auto loan, you may want to check with several lenders to find the best rate. This can cause multiple lenders to request your credit report, even though you’re only looking for one loan.
To compensate for this, FICO® scores distinguish between a search for a single loan and a search for many new credit lines, in part by the length of time over which inquiries occur. When you need an auto or home loan, you can avoid lowering your FICO® score by doing your rate shopping within a short period of time, such as 14 days.
Inquiries usually have a small impact. For most people, one additional credit inquiry will take less than five points off their FICO® score. However, inquiries can have a greater impact if you have few accounts or a short credit history. Large numbers of inquiries also mean greater risk: People with six
inquiries or more on their credit reports can be up to eight times more likely to declare bankruptcy than people with no inquiries on their reports.
Hope this answers your question.

Comment from Jon K
Time July 19, 2009 at 7:18 am

Inquiries stay on your report for 2 years, and it all depends on the timeframe between inquiries is. The more inquiries look bad to many lenders, as it says you may be applying for more credit than you can handle, so only apply for what you need.