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Approved but I Disapprove!

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Gerald56
New Contributor

Approved but I Disapprove!

hi,

 

i've been approved for a car through gm financial at a chevy dealer. the finance person i'm dealing with is worthless. i haven't signed any papers yet and i'm wondering if i can just go to a different chevy dealer and have them find my approval so i can purchase from that dealer instead or will i have to go through another check??

Message 1 of 5
4 REPLIES 4
Remember0
Valued Contributor

Re: Approved but I Disapprove!

You might have to go through another check. But all auto related inquiries (if coded properly) will count as one for fico scoring purposes. If the dealership is fishy, I strongly suggest going elsewhere. Do NOT sign unless you're sure you want the car/terms they offer. And don't let them tell you that you *have* to sign somewhere legally. You don't!

Message 2 of 5
Gerald56
New Contributor

Re: Approved but I Disapprove!

thank you! as much as i want this vehicle, i cant stand being treated this way. its suppose to be a happy time not a pain in my rear

Message 3 of 5
Remember0
Valued Contributor

Re: Approved but I Disapprove!

Yep! Also look into negotiating online. You'll usually get a better deal. Here's the guide I wrote up about it (the negotiating part is in the intro, but you may find the part on dealer participation and dealer extras in the financing section useful):

 

http://ficoforums.myfico.com/t5/Auto-Loans/Guide-to-Financing-Leasing-and-Refinancing-a-Car/td-p/289...

 

Since you know you'll be approved by the captive lender, don't worry about that. Just focus on price when negotiating online.

 

What car exactly are you looking to buy?

Message 4 of 5
pizzadude
Credit Mentor

Re: Approved but I Disapprove!


@Remember0 wrote:

You might have to go through another check. But all auto related inquiries (if coded properly) will count as one for fico scoring purposes. If the dealership is fishy, I strongly suggest going elsewhere. Do NOT sign unless you're sure you want the car/terms they offer. And don't let them tell you that you *have* to sign somewhere legally. You don't!


+1.  If you are uncomfortable with the situation then just walk away.  Don't worry about incurring future inquiries, it's better than getting stuck with a bad deal.

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Message 5 of 5
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