Fear of a credit inquiry can push a car buyer into accepting the first loan offered. That can be an expensive way to protect a credit score.
Auto-loan shopping is treated differently from repeatedly seeking unrelated new credit. Scoring models can group qualifying auto-loan inquiries made within a shopping window, so several lender checks are treated as one inquiry for scoring. The CFPB describes a window of 14 to 45 days. FICO explains that the period depends on the version of its scoring formula.
The inquiries may still appear individually on your credit report. Seeing several entries is not the same as receiving a separate scoring penalty for each.
Keep the shopping period focused
Review your credit reports before applying and address errors you find. Checking your own credit is different from a lender's hard inquiry. Also find out whether a preliminary quote uses a soft check or whether you are authorizing a full application.
When you are ready for formal offers, group the applications into a short period. Finishing within about two weeks is a conservative way to accommodate the shorter window, though it is not a guarantee about every score or lender decision.
Give yourself enough time to compare real offers. A rushed application to several lenders without knowing which vehicle or amount you need can produce more paperwork than useful information.
A dealer may send an application to multiple lenders. Discuss that process so you understand who is seeking financing and when. If you already have an offer, bring it into the conversation.
The important distinction is between comparing auto loans and applying for several different kinds of credit. The same shopping treatment does not turn a car loan, a credit card, and a mortgage into one application.
Credit effects vary with the scoring model and the rest of your file, so nobody should promise an exact point change. But a sensible comparison of borrowing costs deserves more weight than the idea that every additional lender check is automatically a mistake. Find an offer you understand, compare it, and stop applying once you have made the decision.