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Posts: 5,436
Registered: ‎03-10-2007
Re: Car Dealer Said they LEGALLY have to do a Hard Inquiry Even if paying cash!

uptomyneck wrote:

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.


Okay I'm confused, didn't yu say earlier that if you ae paying cash the credit maager has to approve you?  Or some such thing?