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Need help- Unauthorized hard Pull- Can I do anything?

Senior Contributor

Re: Need help- Unauthorized hard Pull- Can I do anything?

 


frazman wrote:

Some dealerships have so much corporate bureaucracy, cash customers may walk out, but again that's the talent of the sales staff and management staff too. Most of the time the store has to pull credit with a cash customer to cover its ass.

Customer may have just robbed a bank, he may be under federal indicment (it happened to my store, bad, bad reaction from feds, because the credit report said 'contact US Marshalls office AT ONCE, we didn't ,he had good credit, so we sold the car. Opps.)

And there's the IRS paperwork.

It could be a scam, etc, dealerships have a lot of BS coming at them because of the high ticket items, and because sometimes people are desperate.

There are some wonderful, caring, and honest people in the auto business, and they are some smooth talking socialopaths, who will cheat.

Be an intellent, thinking, buyer, and you will be fine.


 

Come to think of it, my mother taught college English for many years.  One time a student of hers who worked part-time at a car dealership sold a fancy car for cash, not a check which is what I mean when I say "pay cash for a car," but actual engraved portraits of dead Presidents (many engraved portraits of dead Presidents).  Not long after, they saw the customer's picture on the front page of the local paper after he was arrested for being a drug kingpin.  The dealer did not get in any trouble, as they did nothing wrong, but I think a few of them had to testify in court at the guy's trial about his unusual method of payment.

 

TU 791 02/11/2013, EQ 800 1/29/2011 , EX Plus FAKO 812, EX Vantage Score 955 3/19/2010 wife's EQ 9/23/2009 803
EX always was my highest when we could pull all three
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Message 11 of 17
New Member

Re: Need help- Unauthorized hard Pull- Can I do anything?

Like Frazman I have numerous years experience in the Auto Industry.  What happened was the dealership asked for what we used to call a "5 Liner"  Information which included a SS#.  Really slick finance guys could pull credit with names and adresses only.  Like Frazman said their purpose is to see if they should be spending time with the customer or not.  Instead of looking at an Escalade perhaps they should be looking at something else.  Many people are out kicking tires and taking up valuable time.

 

To get them to back off fist investigate yourself.  Pull a FICO report.  See if you can secure financing somewhere else.  If you are above 700, you are GOLDEN in most cases and can qualify for Manufacturer Backed Financing for the VERY LOW interest offers.  Skip the saleman all together when talking about financing.  Many dealerships forbid salesmen to discuss financing.  Go straight to the F&I Guy armed with your FICO Report in hand.  They would rather get a flat commision than nothing.

 

So many variables in automobile financing.  Time is your best weapon.  If you are not in a hurry dealerships do not have a smuch leverage.  End of the month and end of the quarter are good times to buy as well.

 

You give them a SS# and you can count on a hard pull every time.

Message 12 of 17
Highlighted
Member

Re: Need help- Unauthorized hard Pull- Can I do anything?

That 700 doesn't always work either, a Ford dealer pulled my FICO and found I was around 720, then said, "Sorry, I can't give you 'A' paper because you had a bankruptcy 7 years ago." Got hit with 7.9% from FMCC, any way to force these bozos to show you all the bank offers, since they do a zillion at one time, so *I* can choose the best one?

Message 13 of 17
Established Contributor

Re: Need help- Unauthorized hard Pull- Can I do anything?

I think they pulled a fast one on you.  I can understand their reasoning, but it is still sneaky and dishonest.  I purchased a brand new vehicle not long ago.  The first dealership I went to I only went to test drive a couple of vehicles.  I had no intentions of purchasing from them.  Yet, all they required from me was my driver’s license and a copy of my current auto insurance card.  I did not have to sign anything that required my social security number.  Test drove one vehicle since the dealership was close by my home, but I chose another dealership about an hour way to actually purchase the vehicle from.

 

Went to the other dealership to purchase and advised them in advance that I was not going to need financing through them.  They didn’t press the issue and didn’t even speak about financing after I advised them that I would be bringing them a check if we could negotiate on MY terms.  They knew I meant business.  They did ask questions about my job, salary, etc., which I expected since I was interested in purchasing a luxury vehicle.  I did not sign anything beforehand.  After about an hour of negotiations, I got the car for the price I wanted, had them draw up a purchase order, gave them a credit card payment to hold the vehicle and went back a few days later with a check in hand to drive it off the lot.  At that time I signed all the necessary paperwork.  There was no need to pull my credit since they had the check in hand.  My credit was NEVER checked by the dealership. 


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Message 14 of 17
Member

Re: Need help- Unauthorized hard Pull- Can I do anything?

Sorry, you got lied to. That was the F&I (finance mgr) taking a buy rate of 4.9, and bumping you up, because of your shame, embrassment, and making 3 pts profit. That's my guess. EVERY loan is computor scored, but a 720, with good active tradelines 2 or 3 yrs old, over 1500 dollars, is going to be eligible for instant approval. No computor scoring, just send in the contract, etc, and the dealership gets paid. Seven years, that score, and re-established credit, is no problem.

Message 15 of 17
Member

Re: Need help- Unauthorized hard Pull- Can I do anything?

...and don't be too judgemental of car people, most of the old ones would have been robbing banks, or selling drugs, if not for the car business. And you're growed anyway! Be a smart consumer, they are ten times easier to sell if you are an honest saleman, than a dumbass.

Message 16 of 17
New Visitor

Re: Need help- Unauthorized hard Pull- Can I do anything?

A similar thing happened to us, except they had ordered a hard check on our credit before we even came to LOOK at their vehicles. I had told them NOT to run any credit checks, since I found that by shopping around for a good mortgage rate several years ago (20) that each mortgage company I contacted did a hard check even before any paperwork had been filled out. This made it difficult to purchase a house because we had so many inquiries in a short period of time. This was the ONLY negative on our credit report, all else was good.

 

Back to the car dealer.  I was absolutely FURIOUS that a credit check had been run, especially that it had been done without us filling out any paperwork or even arriving to look at their vehicles. I contacted the lot owner/manager and really complained about this.

 

Unfortunately, it seems that it is very easy for negative reports to become attached to your credit report, even when not valid. And yet, to correct something, it is almost impossible to get it removed.

 

Another case in point, several judgements and negative reports were put on my husband's credit report from a person in another city by the same name. The Social Security Numbers did not match, my husband had not even visited the city of the other person, yet HIS judgements ended up on my husband's credit score. It took DAYS of work to get these removed before we could get a mortgage.  When we had been assured that it had been removed.  When we next moved, eight years later, these judgements were STILL on his credit report!  How can this be?  There should be some recorse for irresponsible reporting by businesses and collection agencies.

 

 

Message 17 of 17