New Contributor
uptomyneck
Posts: 51
Registered: ‎06-07-2007
Re: Car Dealer Said they LEGALLY have to do a Hard Inquiry Even if paying cash!


MidnightVoice wrote:


uptomyneck wrote:
 
 but it is the law.


Verifying the identity is the law.
 
Running a Credit Check without my permission is not the law.  It is convenient for them, I agree, but is not the law.  I have purchased 4 cars and an engine from my local dealer, and had them do repairs - they know my identity and can verify it via passport, drivers license and their records.


That's why they get you to fill out a credit application.  They can't run your credit to do the verification they need without it.  If they get caught running somebody's credit without a signed app their in just as much trouble.
Now, they would strongly prefer that you finance with them, but that's a different issue.  I wouldn't recommend you do finance with them, unless you already know they have a rate that beats what you can't get elsewhere.  The point of my posts is you can't just walk into a dealership and pay cash to get out of a credit pull, because there are certain legal requirements that have to be met.