BKP

I bought a 2008 Ford Edge. Got the employee pricing plus incentives. Was a reasonable price, but was upside down on my 2006 Fusion, which sucked. Got them to go up $1000 on what they offered for trade in, so that helped. I really like it and it will help us in the long run because my husband is almost to the point of needed a wheelchair. This will make it much easier to haul. I am glad it should not hurt my scores. The strange thing was I had alerts on my credit monitoring, but when I ran my credit report, the inquiries don't show. I have to laugh at the denial letter though because it states 'excessive inquiries (I have had two over the last 3 years), insufficient open satisfactory installments (I guess the 5 credit cards with no late payments as aging from 15 years to 10 years didn't help) Anyway, I am satisfied for the most part, was just not expecting all the bank inquiries. Thank you for the detailed answer.

I got my preapproval loan from my bank on 12/27/08. Purchased my vehicle on 12/30/08. At the time they said they had no idea how to process the preapproval letter, I would have to get the money from the bank and bring them a check. I said no, the bank said the dealer handles all the paperwork and I driveaway. It was 7:30 pm and the banks were closed, so they said they would run my credit and let me drive away. They would handle the paperwork the next day. I should have walked, but didn't think it was that big of an issue because I have financed 5 vehicles with Ford over the years and had no idea they were going to submit to a variety of banks, etc. We proceeded with the paperwork on the car, and about 30 minutes later they said they now understood the approval letter and I would not have to have my credit ran, and they would 'tear up the application' On 1/12/09 I received a rejection notice from Wachovia. I logged into my Equifax monitoring and see credit inquiries from three different banks, on two credit reporting agencies. One is Compass bank and the inquiry shows as being done on 1/4/09. Should I be worried about how these will affect my score? I am upset that they proceeded with running my credit after they agreed not to, and then to have it go to three banks. I called the dealer and asked him why and he said, even if someone is coming with cash in hand they have to 'match the identities' so they run credit. I call BS on this. Do I have any recourse, or should I let it slide? Thanks for any advice you can give.