Payment by Check and Credit INQ

[Anonymous]

I think I may be too ethical to own a dealership... no one will want to work for me because I will demand they do what is 'right' not what is expedient.  I would rather have 100 customers who say that they were treated fairly than 300 that are trashing me all over the place.

Message Edited by Lady_Scarlet on 10-27-2007 10:45 AM

[haulingthescoreup]

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@Anonymous wrote:

I think I may be too ethical to own a dealership... no one will want to work for me beacuse I will demand they what is 'right' not what is expedient.

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I don't think you're too ethical to own the business, but you're right, you might be too ethical to keep staff! But if you ever got the reputation for being ethical out, your business would boom. I would buy just about any kind of vehicle from someone that I knew wasn't always wiggling around objections from their conscience. Well, maybe not a used Yugo, but just about anything else.

DH found a three-man Honda repair business who have never once lied or hidden anything from us. We trust them with everything we have with four wheels, Hondas or otherwise, and we recommend them to anyone we can collar.

[Anonymous]

reputation is EVERYTHING in any business.

If your $crew someone over 20 people will know about it
If you treat them right 3 will.

If a company $crews me over EVERYONE and their brother will know about it. I ask for referrals anytime I need a pro.

[Anonymous]

I guess there are some perks to being the boss's wife...

The dealership will no longer do a hard pull to comply with the Patriot Act.  IF they feel a CR is necessary for a check it will be a soft inline with ID verification of the PA (no sig required because no app for credit) plus a 5 liner.

Financing Manager is on vacation this week - dumb GM (which is the one who was saying this)  doesn't know squat but thinks he knows everything - he may not be GM long.

I know I got DH's attention with the $1K fine and attorney's fees plus damages, complaints to FTC, AG, etc - because he knows I would do it. Also,  I told him that we service too many people who work on the Hill (and who would probably know the legislation because they wrote it)

Victory for the consumer on this one.

[haulingthescoreup]

When my '95 Accord finally disintegrates, I may need to Greyhound up to the DC/ Maryland burbs and drop in and say hi!

Whereabouts are you? I used to live on post on Walter Reed. (Way back before they ever thought about outsourcing to Halliburton spin-offs! Grrrr... ) Anyway, our back yard faced Silver Spring. I love that whole area, other than the $$$.

[Anonymous]

Montgomery County along 355

Come on up - DH wil be happy to sell you a car.

Silver Spring has changed soo much - major redevelopement - very Yuppie, lots of high rises, condos, townhouses

Message Edited by Lady_Scarlet on 10-28-2007 11:06 AM

[Anonymous]

Oooh, if you get a 3-4 yr old Cayenne in the next 1-2 years, drop me line! I'm in PA and that is what's been at the top of my list to replace my current vehicle. The lower end (not the S model), even used, the S is just too much for us!

Heh, I'm pretty serious!

[fused]

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Lady_Scarlet wrote:

Someone wants to purchase a car by Check - personal or cashier's - and they are told that the dealer must pull credit (hard INQ).

Legal or Illegal and why?

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No way! No financing, no pulling credit. Dealerships do not have PP in this situation and often say they do for the purposes of identifying you. A DL or a passport is sufficient enough to confirm one's identity. Geez to travel internationally, you show your passport to prove your identity. The airline doesn't yank your credit to confirm your identity.

If a dealership did this to me, I would dispute it with the CRA as not mine, I didn't apply for credit and I would sue the dealership. This subject is obviously an irking one for me.

[ozgirl]

I did quite a bit of research on this subject and wrote a long piece about it in one of the threads--the following covers the issue of the personal check etc...and the Patriot Act--NOTE THAT CASH DOES NOT INCLUDE A CHECK DRAWN ON THE PAYER"S OWN ACCT!!

The Patriot Act does require that financial institutions have Customer Identification Programs in place. To meet this requirement, the financial institution must obtain/verify the customers name, address, social security number, date birth and occupation. Under the Bank Secrecy Act provisions, transactions over a certain dollar amount, which meet certain criteria, must be documented by the financial institution and in some cases reported to the government. These transactions include:
• Transactions > 2000 IF SUSPICIOUS
• Cash in or out transactions >10,000 in the same day
• Money Orders or Travelers Checks in the amount of $3000 - $10000 to the same person in the same day
• Money Transfer of $3000+ to the same customer in the same day

IMPORTANT: Cash does not include a check drawn on the payer’s own account such as a personal check regardless of the amount!

According to www.privacy.org, a credit check is a valid means of meeting the requirements of identity verification under the Patriot Act. However, it does not say ANYWHERE that a credit report must be run on anyone purchasing a vehicle for cash. Additionally, www.Privacy.org “suggests” that you may want to check your credit report as you would not want to be declined credit because of identity theft or CONSIDERED A PERSON OF SUSPICION! That line “PERSON OF SUSPICION” is what really captured my attention! As a side note, Privacy.org also suggests reviewing your ChexSystem report.