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Old 03-21-2016, 12:52 PM   #1
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Default Car dealers and CREDIT checks......

This morning I saw a dealer car ad that said, "Click here for special internet price to be called or e-mailed to you". OK, I clicked and gave my e-mail address and false name/phone number.
What came back within a few hours was
Hello Mr. xxxxxxx

Thank you for giving us an opportunity to fulfill your vehicle need.
I want to help ! ... COMPLETING a CREDIT APPLICATION is necessary.
If you would like to proceed you can complete the Online Credit Application at the link below.





There was no price in the response. Is this normal? What's changed, that dealers want to pull credit before even saying hi?
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Old 03-21-2016, 12:54 PM   #2
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Sub prime buyer dealing with a sub prime lender. He is going to get screwed its just a matter of how much and most places will want to know how bad his credit is before they work with him. Your best bet would be to work with one of the larger dealers or a place that specializes in sup prime buyers. When your credit is bad you loose the luxury of shopping around.
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Old 03-21-2016, 01:06 PM   #3
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Or they advertise one price cash and one price finance. I don't do sub prime lending because the "lender" takes out a fee which jacks the price of the car up and then charges the customer crazy amounts of interest. Id rather sell one a little back of retail through the credit union then sell one through the sub prime lenders. Essentially they're paying to sell you a car.

When I did do it you scare good credit buyers off cause the price is too high and if your price is good then you cant make any money if you have to finance it then take the "chop". The car business isn't as glamours or profitable as everyone thinks it is,
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Old 03-21-2016, 01:08 PM   #4
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Or, they are fishing for your ssn by using a link for you to click...

Be careful.
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Old 03-21-2016, 01:26 PM   #5
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Its just that dealers style of business. A lot of dealers want to only focus on payments no matter how the buyer wants to pay. Its usually that way if the store is focused on sub prime business and not prime business. If you would have filled it out they would email back with a payment or tried to get you to come by the store to talk to finance without ever discussing pricing. Just find another dealer or ask the question again and mention your not interested in financing terms yet. If they don't back off unsubscribe to the email and move along. Good luck.
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Old 03-21-2016, 01:31 PM   #6
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Originally Posted by agallant80 View Post
Sub prime buyer dealing with a sub prime lender. He is going to get screwed its just a matter of how much and most places will want to know how bad his credit is before they work with him. Your best bet would be to work with one of the larger dealers or a place that specializes in sup prime buyers. When your credit is bad you loose the luxury of shopping around.
I understand that, but what I don't understand is why they want a new credit app when they're told exactly what the credit history is; accurate within days. What's in it for them to want a new app?
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Old 03-21-2016, 02:05 PM   #7
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Or, they are fishing for your ssn by using a link for you to click...

Be careful.


Beware!
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Old 03-21-2016, 02:10 PM   #8
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They need to know what your credit look like so they will know what to sell you. If its great, move up to higher price vehicles. If its awful, move you to something they may sell with dealer recourse. They never want to miss a sale, no matter how low or how high it may be.

When you go to a dealership and want to test drive, the first thing is they need a copy of your license. Not to know if you can drive, but for the finance and insurance guy to check you out while you do your test drive.
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Old 03-21-2016, 02:27 PM   #9
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The effort by car dealers to sell financing can be unbearable. Last time I test drove a car the salesman spent the entire 20 minutes talking about how I'd be stupid not to take the special financing deal they were offering because I could get "such a better return...blah blah..." He was 100% more focused on this than selling the CAR!
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Old 03-21-2016, 03:10 PM   #10
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They need to know what your credit look like so they will know what to sell you. If its great, move up to higher price vehicles. If its awful, move you to something they may sell with dealer recourse. They never want to miss a sale, no matter how low or how high it may be.

When you go to a dealership and want to test drive, the first thing is they need a copy of your license. Not to know if you can drive, but for the finance and insurance guy to check you out while you do your test drive.
You and Belrose hit the nail on the head, except for one thing. When we show them the credit report and scores (530-570) it isn't rocket science to know that the target car will be low priced.

The problem is that they don't seem to care that we're telling them the whole shebang, and it ain't pretty, so we aren't lying.

WHY do they insist on wanting their own credit check? What's in it for them? Don't these pulls cost money?
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Old 03-21-2016, 03:20 PM   #11
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You and Belrose hit the nail on the head, except for one thing. When we show them the credit report and scores (530-570) it isn't rocket science to know that the target car will be low priced.

The problem is that they don't seem to care that we're telling them the whole shebang, and it ain't pretty, so we aren't lying.

WHY do they insist on wanting their own credit check? What's in it for them? Don't these pulls cost money?
bout $3 a pop, and i do have the ability to do a soft pull, no social required, reason being you'd be surprised how many times i've spent 30+ minutes with someone, went on test drives, got beat up on my price then pulled a report and they couldn't finance a stick of gum.
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Old 03-21-2016, 03:28 PM   #12
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Originally Posted by bamaboy473 View Post
You and Belrose hit the nail on the head, except for one thing. When we show them the credit report and scores (530-570) it isn't rocket science to know that the target car will be low priced.

The problem is that they don't seem to care that we're telling them the whole shebang, and it ain't pretty, so we aren't lying.

WHY do they insist on wanting their own credit check? What's in it for them? Don't these pulls cost money?
Am I getting this right, you are trying to get financing for a vehicle with a 530 to 570 credit score?
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Old 03-21-2016, 03:54 PM   #13
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From what my brother who works for a dealership in internet sales tells me, his department's main goal (and how commissions are made) is to make as many appointments (i.e. lead generation) as possible for the sales people on the floor. The internet department may help you by answering a few basic questions but once you start to get into the weeds, they will try to get you in the door.

This was basically my experience last summer when I was shopping for my wife's car. All I basically got after sending online inquiries and chat sessions was info I could find online myself and asking when I could come into the dealership for a test drive.

After a couple weeks, I finally just went local and hashed out the best deal I could with them. I figured, even if I didn't get the best deal, at least I wasn't wasting my time driving around the entire state and sending emails/talking on the phone for who knows how long just to save a few hundred bucks. My time and sanity are worth more to me than that.
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Old 03-21-2016, 04:23 PM   #14
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Am I getting this right, you are trying to get financing for a vehicle with a 530 to 570 credit score?
yes, you got that right.

As much as I have a give-a-chit attitude about many things, its because I've been lucky my whole life. Having tenants with real-world crisis problems brings it home how lucky so many of us are. here's the drift:

Single parent, two kids to raise, no family help at all, sporadic child support and zero alimony. No education, so menial jobs. Kids or her get sick, go to ER or hospital, rack up tens of thousands of dollars in medical bills. She's white, not going to catch a break about med bills, so they all get thrown to collection. Credit score reflects multiple medical bills, not one late payment, judgment, other type of collection.

Now she needs a second car because daughter works. Zero savings, living paycheck to paycheck, I give her breaks on rent for doing things around the properties.

The girl is good as gold about honoring commitments (except to hospitals that charged $32,000 for a two-day stint one time) and has repaid several loans the admiral and I made to her, so I'll try to help get a car for her.

New cars get 6 year financing, late model used gets 5 years. older the car, fewer years for a loan, Nothing for 10 year old cars, and that's what she can really afford.

That's why I'm a finance guy and can't wrap my mind around the mentality of a car dealer that can't come up with a financing plan when he's given 100% of the information he's wanting to extract. Honestly, they act deer-in-headlight anymore if I tell them I won't let them pull credit first-off.

If she can't get a car, she might lose her job. Not good. If I find her a $3000 car and finance payments from her, I end up with a tenant that, if she has a job problem, I end up taking her roof and her ride. Homeless isn't going to happen when we (wife and I) are that up close and personal to the problem. She can't get a bike because distances around here are too great.

No, pictures won't get any of you guys to contribute, lol.
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Old 03-21-2016, 04:25 PM   #15
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bamaboy, nothing to add except you are a stand up guy.
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Old 03-21-2016, 04:41 PM   #16
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I'm not coming to your dealership if I don't see a price on the vehicle I'm thinking of buying.
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Old 03-21-2016, 06:03 PM   #17
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Originally Posted by dihrah View Post
They need to know what your credit look like so they will know what to sell you. If its great, move up to higher price vehicles. If its awful, move you to something they may sell with dealer recourse. They never want to miss a sale, no matter how low or how high it may be.

When you go to a dealership and want to test drive, the first thing is they need a copy of your license. Not to know if you can drive, but for the finance and insurance guy to check you out while you do your test drive.

Hmm, I have never been asked for a drivers license when we test drive a car.
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Old 03-21-2016, 06:44 PM   #18
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I'm not coming to your dealership if I don't see a price on the vehicle I'm thinking of buying.
Yeah...If it says "call for price" I just go to the next website. Not a chance in hell I am calling....
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Old 03-21-2016, 06:45 PM   #19
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Hmm, I have never been asked for a drivers license when we test drive a car.
Really??
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Old 03-21-2016, 06:48 PM   #20
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Yeah...If it says "call for price" I just go to the next website. Not a chance in hell I am calling....
Sometimes system doesn't update price, 95% of mine are on mine.
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