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

New Contributor

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
Message 1 of 5
4 REPLIES
Established Contributor

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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Message 2 of 5
Moderator Emeritus

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)
Message 3 of 5
Valued Member

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).
Message 4 of 5
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New Contributor

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
Message 5 of 5