topic Re: How is it that you can get mail from auto dealerships say... in Mortgage Loans

How is it that you can get mail from auto dealerships say...

hipgal0825 — Mon, 03 Sep 2007 05:33:17 GMT

How is it that you can get mail from auto dealerships saying you've been approved for X amount with their dealership? Do they do some kind of "soft" credit check or something? I've gotten a couple of those in the last year and a half or so and they're not dealerships I'd inquired with for anything. :smileywink:

Re: How is it that you can get mail from auto dealerships say...

bren39 — Mon, 03 Sep 2007 17:08:38 GMT

I dunno ,but I have received several and was wondering the same thing.:smileyindifferent:

Re: How is it that you can get mail from auto dealerships say...

Timothy — Tue, 04 Sep 2007 03:49:51 GMT

I have been tracking this as best as I can-

Seeing soft pulls on CR and looking for "pre-approved" item in the mail.

I also get a ton of pre-approved auto stuff from companies I have done business in the past the is just "CRM" stuff.

I know that GMAC just pulled a soft on my Aug 10th -
I have a current loan 3 years old with them and I expect an offer soon (not that I am taking them up on it)

Re: How is it that you can get mail from auto dealerships say...

urlosin — Tue, 04 Sep 2007 21:43:04 GMT

Those are not from the dealer, they are usually from a company like Capital One that works in "cahoots" with one dealer at a time to try and generate business. They do a soft pull to find qualified candidates and usually have a lending rep on the premises for the weekend listed in the flyer. They guarantee the dealer that everyone that gets a letter can get financing on something (although income and other factors may require money down).

Re: How is it that you can get mail from auto dealerships say...

hipgal0825 — Tue, 04 Sep 2007 21:53:59 GMT

Thanks urlosin. Good to know. They should look a little harder for me cause I owe Capital One money that is under "debt consolidation" now. :smileyvery-happy: