What to do dealership keeps running my CREDIT???
12-30-2010, 03:36 AM
#1
What to do dealership keeps running my CREDIT??? OK so let me start off by saying that back in september my wife and I were looking to purchase a new silverado. We went to a local dealership and we found a vehicle and were ready to buy. I felt fine with the truck, trade and everything. I had done some number figuring in my head before I had gone there. So we go for it and they come back with some high numbers than I was looking to pay. I tell them I will think about it. My wifes sister's boyfriends dad works for another chevy dealership across town. So we decided to go talk to him and see what we can find. We find the truck again. It seems like a great deal. They come back and say that the other dealership has sent off applications to like 40 different banks. So we couldn't get approved with them for the truck we were looking for. I then get on too free credit report and start to watch my credit for the last 4 months. The second dealer keeps calling me back to take a look at some of these used trucks. He has been calling me back like 20 times in the last 4 months with "Hey check this out". So I listen to him and talk with him. So he calls me back today saying that hey we got your approved with this nice used truck that just came in. I think ok well I haven't even looked at it yet. I check my credit report and sure enought they have pulled my credit again as of that day and sent it off to a bank for financing. My question is I need them to stop and running my credit its killing my score I have 8 hard inquires from just them. I need to know how to fight this with the credit burrows. I never gave them permission in the last 4 months to running or send my credit off any where. I need some help here guys I feel like I am being run with and its killing my credit. Thanks help me out here and tell what I need to do.
12-30-2010, 07:57 AM
#3
FormerVendor
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Go to transunion.com
They have a writeup on what to do in your situation. You can start a case which takes normally a month for them to look into things, but they will decide whether or not their actions were illegal and you can sue for that.
Just my .02 and small amount of experience with it.
They have a writeup on what to do in your situation. You can start a case which takes normally a month for them to look into things, but they will decide whether or not their actions were illegal and you can sue for that.
Just my .02 and small amount of experience with it.
12-30-2010, 09:31 AM
#5
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Go to transunion.com
They have a writeup on what to do in your situation. You can start a case which takes normally a month for them to look into things, but they will decide whether or not their actions were illegal and you can sue for that.
Just my .02 and small amount of experience with it.
They have a writeup on what to do in your situation. You can start a case which takes normally a month for them to look into things, but they will decide whether or not their actions were illegal and you can sue for that.
Just my .02 and small amount of experience with it.
12-30-2010, 09:44 AM
#7
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You need to check all 3 agencies though (equifax, transunion and experian), if they pulled from your others you will have to write and contest them also. Normally just writing them explaining your story will get them taken off in 4-6 weeks or so. But I would complain to the dealer (talk to a manager) as it looks like they might keep doing this.
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12-30-2010, 10:18 AM
#9
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dealerships tend to opperate outside the law as far as credit and credit apps, call authoroties that deal with that in your area, tell them the dealership and send em on in, open you own case at the same time. last time i heard that happenening to a dealership in Florida it was fugly, I was a salesman at the time so we spent all day straiteneing things up but it didnt stay at all.
Other option is walk in to this dealership, state your complaint, mention the word "lawsuit" and then dispute it with the credit companies. No dealership wants bad press in any kind of way, theyll do whatever they have to to make sure it doesnt happen.
Other option is walk in to this dealership, state your complaint, mention the word "lawsuit" and then dispute it with the credit companies. No dealership wants bad press in any kind of way, theyll do whatever they have to to make sure it doesnt happen.
12-30-2010, 05:28 PM
#11
You need to check all 3 agencies though (equifax, transunion and experian), if they pulled from your others you will have to write and contest them also. Normally just writing them explaining your story will get them taken off in 4-6 weeks or so. But I would complain to the dealer (talk to a manager) as it looks like they might keep doing this.
x2
I have a credit monitor program (through Wells Fargo) that helped me out in almost the same case scenario as you. Good luck.
12-30-2010, 06:13 PM
#12
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complaint props to dealer for not blowing you off. They stuck with it to find a situation that works to get you a car on credit. If you are not interested in their help, please make sure they know that. A demand letter can follow that, if you still have problems. Inquiries are really not that big a deal. Payment history on accounts is what is important.
12-30-2010, 06:24 PM
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props to dealer for not blowing you off. They stuck with it to find a situation that works to get you a car on credit. If you are not interested in their help, please make sure they know that. A demand letter can follow that, if you still have problems. Inquiries are really not that big a deal. Payment history on accounts is what is important.
each time your credit is run, it looks "bad" on your credit report/score. i was trying to buy a new car about 2 years a go, i got turned down because "my credit report was pulled to many time within the last 2 months".
OP, i believe it is againist the law for them to keep running your credit without permission. you signed one document to run your credit for a car loan for that one day. not for the next 4 months the dealership is not allowed to repeatedly run you credit without your permission to do so. by them applying for loans on your behalf without authurization, is considered fraud or faulty representation. i would call that dealer ASAP, and tell to stop running your credit. and if they do it again, report it to the authurities.
12-31-2010, 02:17 AM
#17
No I will not as it looks like I will not be buying anything as of right know. I am going to let them know that I am not interested in them looking for anything for me at this time and I don't appreciate them running my credit through so many times. In the mean time I am sure that it will stop from there end. I am going to get ahold of the 3 leading credit agencies and file a dispute for all the unautherized attempts to pull credit and get them off my record. It will take a while but I have to do it so that I can get this cleared up.
01-01-2011, 03:14 AM
#19
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dont allow the dealership to know your social til your are in front of the finance manager and about to sign the title app.
never finance through the dealership, always use your credit union.
*very rare exceptions for this
even if the dealership says "we work with many different banks and we can shop to get you the lowest interest rate" thats bullshit, its just a sales plea to get you to sign an app or get your info so they can see what they can do as far as getting you to finance through them so they can make back end profit
you will always get the best deal at your credit union, if you dont have one, shop around your area and become a member
__________________________________________
if you tell the salesman "im financing through my own bank" it goes through one ear and out the other, they will go tell the finance guy that and return back with a credit app. saying they will try and get you a lower interest rate
if you explain you dont want a lower interest rate and you are happy with your credit union financing it their response will be "well we need you to fill out the app anyways so we can input your info into the system to print your paperwork"
so fill out everything BUT your social and do NOT sign the app, when they see that you didnt sign it tell them "its just info right?" not an application for credit so theres no need for me to authorize anything with my signature..... also when they see you didnt write in your social, respond that you will give your social to the finance manager when all decisions are made and he is ready to print to the paperwork
*let them know that after the F&I guy goes over all back end products and you make your decision thats when you will call your bank and have them fax over drafting instructions so the F&I guy can print the documents and at this time you will share your social for the title app.
this will throw them for a loop, if they give you any hassle after you showing you will not be treated like a piece of meat in a dog pile then tell them you will take your business elsewhere and respectfully do so
this will result in the sales manager getting pissed at the greedy finance guy and more than likely a manager will call you and say they will do what you demanded earlier, or they will lose a sale to their competitor
sad thing is i was a F&I manager, not to brag but i was ranked 6th in the Nation by American Honda Finance Corp. and I didnt get that way by being greedy and treating my customers like a piece of meat, i treated customers like people and people appreciate that
the funny thing is because i treated people so well i made ALOT more money than all the greedy bastards i knew and they just couldn't figure out how i was ranking so high
.
never finance through the dealership, always use your credit union.
*very rare exceptions for this
even if the dealership says "we work with many different banks and we can shop to get you the lowest interest rate" thats bullshit, its just a sales plea to get you to sign an app or get your info so they can see what they can do as far as getting you to finance through them so they can make back end profit
you will always get the best deal at your credit union, if you dont have one, shop around your area and become a member
__________________________________________
if you tell the salesman "im financing through my own bank" it goes through one ear and out the other, they will go tell the finance guy that and return back with a credit app. saying they will try and get you a lower interest rate
if you explain you dont want a lower interest rate and you are happy with your credit union financing it their response will be "well we need you to fill out the app anyways so we can input your info into the system to print your paperwork"
so fill out everything BUT your social and do NOT sign the app, when they see that you didnt sign it tell them "its just info right?" not an application for credit so theres no need for me to authorize anything with my signature..... also when they see you didnt write in your social, respond that you will give your social to the finance manager when all decisions are made and he is ready to print to the paperwork
*let them know that after the F&I guy goes over all back end products and you make your decision thats when you will call your bank and have them fax over drafting instructions so the F&I guy can print the documents and at this time you will share your social for the title app.
this will throw them for a loop, if they give you any hassle after you showing you will not be treated like a piece of meat in a dog pile then tell them you will take your business elsewhere and respectfully do so
this will result in the sales manager getting pissed at the greedy finance guy and more than likely a manager will call you and say they will do what you demanded earlier, or they will lose a sale to their competitor
sad thing is i was a F&I manager, not to brag but i was ranked 6th in the Nation by American Honda Finance Corp. and I didnt get that way by being greedy and treating my customers like a piece of meat, i treated customers like people and people appreciate that
the funny thing is because i treated people so well i made ALOT more money than all the greedy bastards i knew and they just couldn't figure out how i was ranking so high
.
Last edited by Ruthless Robbie; 01-01-2011 at 03:29 AM.
01-01-2011, 10:00 AM
#20
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When I bought my Envoy at West Way Ford last year, it was the worst and best experiences I've gone thru. I had never bought a car thru a dealer with financing. The used car sales guy was the only guy who was honest to me from the beginning. The used car sales managers and the finance manager are the ones who screwed me over. Do like Ruthless Robbie said. 
