How much of a deposit do folks put down?
#16
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That said, there are some dealers who demand a credit check prior to the test drive in order to determine - or so they say - if the test-driver has the wherewithal to pay for the car should he ball it up. I don't believe that. I think they do the credit check so when you return from the test drive, the finance manager can tell you the "great news" that you can "get in the car for just $xxx/mo."
#17
Three Wheelin'
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You may or may not get the whole story if you ask a salesman at the dealership.
#18
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I've run both Experian and Equifax credit reports in the last 30 days, and I don't have any dings from test drives, and I've test-driven cars in some sketchy locales in my day
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#19
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I never asked a salesman, I know for a fact. Could you explain how one could even pull credit using a DL? It's just not possible as DL has ZERO to do with your credit. Why do you think it is that when you apply for auto insurance they ask for your SS#? So they can check your credit. They have your DL as well, if that was all it took they wouldn't ask for SS#.
Your info is wrong.
#20
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Yeah a credit hit means that you are applying for credit. It has a negative effect (potentially) on your score. If you could be hurt by a test drive, just imagine how skewed everyone's credit would be. Seeking credit and seeking a better understanding of a car that you may in fact pay cash for are two different things.
The credit score can not be meaningful if it considers the latter.
The credit score can not be meaningful if it considers the latter.
#21
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If I understand correctly, there's no way to obtain a person's credit report/info without a social security number. However, I believe you can get just the credit score with only the driver's license. The dealer doesn't care so much about the details of your credit history, but rather your ranking within the scale. Checking the credit score isn't the same as applying for credit, so there's no resulting impact whatsoever on your credit score.
#22
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Back to the original subject, my sales mgr told me he needed a $2,500 deposit on my 95k MSRP C2S order and he would not take less - I asked. He did tell me that he would apply my deposit toward the purchase of an '09 car if I changed my mind and wanted to order an '09. Unless I hear of some amazing changes to the facelift car, I'll be sticking with what I've got.
#23
Burning Brakes
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#25
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About credit it is my understanding that there are two types of inquiries. One is a solicited inquiry where you apply for credit. The other is unsolicited. That is when some cc company runs a basic report to send you a "You've been approved" letter. The latter has NO affect on your score. If you want more information, myfico.com has a forum where you can answer all (or many) of your credit score questions.
BTW, if a dealer ran my credit without my written permission and it impacted my score, I would sue them.
BTW, if a dealer ran my credit without my written permission and it impacted my score, I would sue them.
#26
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We take a copy of your drivers license and you SIGN a document stating you'll be a good driver and will not break the law. And if you get into an accident you're responsible-not us. So it's purely for insurance purposes.
Any dealer who pulls your credit with OUT your consent is a shady one IMO. And I'd run like hell outta there.
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#27
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Because I had a paint to sample car my dealer required 5k which he kept for 9 months while I waited. I did not have any problems with that as I had Porshe fever really really bad.