Having several inquiries can reduce your overall credit score and affect your RV or boat loan approval. Lenders use your credit report to conduct a risk assessment. Inquiries can affect their decision to offer a loan to you. Too many hard inquiries in a short period of time can be concerning to lenders. That's because multiple hard inquiries may add up to numerous new accounts. This may make the lenders feel you are taking on too much debt or having financial difficulties. A credit inquiry would typically remain on your report for 24 months.