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New Contributor
Posts: 83
Registered: ‎08-18-2007
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How is it that you can get mail from auto dealerships say...

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. Smiley Wink
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Established Contributor
Posts: 673
Registered: ‎07-22-2007
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Re: How is it that you can get mail from auto dealerships say...

I dunno ,but I have received several and was wondering the same thing.Smiley Indifferent
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EX 643
Moderator Emeritus
Posts: 9,252
Registered: ‎03-19-2007
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Re: How is it that you can get mail from auto dealerships say...

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)
Valued Member
Posts: 29
Registered: ‎08-24-2007
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Re: How is it that you can get mail from auto dealerships say...

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).
New Contributor
Posts: 83
Registered: ‎08-18-2007
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Re: How is it that you can get mail from auto dealerships say...

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. Smiley Very Happy
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