topic Re: Salesperson said it'd be a SP but it was a HP :( in Auto Loans

Salesperson said it'd be a SP but it was a HP :(

DH1988 — Wed, 14 Nov 2018 22:02:56 GMT

Hi guys,

Recently I was shopping around for cars. I went to a dealership and began discussing a vehicle. The salesperson assured me he could give me a idea of the price breakdown without putting a hard pull on my credit. I asked him to verify this with his finance manager because it seemed too good to be true. He reassured me, he gets asked everyday about this and there would be absolutely no HP.

I agreed, and instantly all my credit monitoring sites began alerting me about a new inquiry. I emailed the salesperson the next day asking why he told me it would be a SP if that wasn't true. I got a message back from his manager apologizing for his oversight and saying that the saleperson simply made an error that won't happen again.

Okay great, but the HP is still on my credit. Is this something I can dispute? Can HPs be removed from my credit?

Re: Salesperson said it'd be a SP but it was a HP :(

Anonymous — Thu, 15 Nov 2018 00:20:58 GMT

I would dispute this immediately and I'd request his manager to request removal of the HP. If he apologized in the email you should have valid documentation to get removed.

Re: Salesperson said it'd be a SP but it was a HP :(

Gladius — Thu, 15 Nov 2018 09:46:22 GMT

@Anonymous wrote:
I would dispute this immediately and I'd request his manager to request removal of the HP. If he apologized in the email you should have valid documentation to get removed.

Sorry, but it doesn't work like that. He needs something in writing saying the manager will remove it. And this will probably be like pulling teeth for it to actually be removed.

Re: Salesperson said it'd be a SP but it was a HP :(

Anonymous — Thu, 15 Nov 2018 12:10:38 GMT

I’ve had HP’s removed. Sorry but it does.

Re: Salesperson said it'd be a SP but it was a HP :(

Gladius — Thu, 15 Nov 2018 12:37:10 GMT

@Anonymous wrote:
I’ve had HP’s removed. Sorry but it does.

I'm saying by just having him "apologize" is not valid documentation to have it pulled. He has to acually SAY he will do it, and have it in writing/e-mail.

Re: Salesperson said it'd be a SP but it was a HP :(

Anonymous — Thu, 15 Nov 2018 13:32:58 GMT

I'm saying it worked for me. So you are incorrect in your statement that it "is not valid". Just saying.

Re: Salesperson said it'd be a SP but it was a HP :(

Anonymous — Thu, 15 Nov 2018 16:01:13 GMT

Dumb salesperson aside (they often just don't know any better) it's valid, not worth the headache, and it's only an HP. Just move on.

Re: Salesperson said it'd be a SP but it was a HP :(

Gladius — Thu, 15 Nov 2018 18:48:25 GMT

@Anonymous wrote:
I'm saying it worked for me. So you are incorrect in your statement that it "is not valid". Just saying.

YOU had it removed or the SALESPERSON?

Re: Salesperson said it'd be a SP but it was a HP :(

jl4 — Thu, 15 Nov 2018 20:14:30 GMT

Did you fill out a credit application, @DH1988? If so, there's probably not much you could do. If you DIDN'T, then definitely dispute it.

Re: Salesperson said it'd be a SP but it was a HP :(

Anonymous — Thu, 15 Nov 2018 20:27:20 GMT

All me! Very similar situation to the OP! Lots of people think HP's are sooooo hard to get removed but they really aren't depending on the circumstances. They had sent an email basically stating that they were sorry and it wouldn't happen again. Whatever!

I used that "sorry" email and attached to an Equifax dispute - viola! Deleted!

Re: Salesperson said it'd be a SP but it was a HP :(

OmarR — Sat, 17 Nov 2018 01:08:02 GMT

Just another reason for everyone to have all 3 of their reports frozen.

Then when they admit to you that they couldn't HP you, you go and find another dealership. They know exactly what they are doing.

Re: Salesperson said it'd be a SP but it was a HP :(

Ardecko — Sat, 17 Nov 2018 01:48:50 GMT

Unless I'm mistaken, SPs are only allowed to pierce a frozen bureau if they identify as having an established business relationship with you.

While you should still have as many as you can of your reports frozen most of the time, this advice is not useful.

Re: Salesperson said it'd be a SP but it was a HP :(

Gladius — Sat, 17 Nov 2018 14:12:01 GMT

@OmarR wrote:
Just another reason for everyone to have all 3 of their reports frozen.

Then when they admit to you that they couldn't HP you, you go and find another dealership. They know exactly what they are doing.

I understand the purpose of freezing one's reports, but I don't understand your rationale on this. So what if said dealership gives you the "best" deal, wouldn't you allow them full access to your credit report, or would you simply go to the next dealership? A car purchase is a major transaction on your credit profile so I would think you would allow the winning dealership access. It's like you are "hiding" something....just my thoughts.

Re: Salesperson said it'd be a SP but it was a HP :(

Brian_Earl_Spilner — Sat, 17 Nov 2018 14:19:29 GMT

@Gladius wrote:
@OmarR wrote:
Just another reason for everyone to have all 3 of their reports frozen.

Then when they admit to you that they couldn't HP you, you go and find another dealership. They know exactly what they are doing.
I understand the purpose of freezing one's reports, but I don't understand your rationale on this. So what if said dealership gives you the "best" deal, wouldn't you allow them full access to your credit report, or would you simply go to the next dealership? A car purchase is a major transaction on your credit profile so I would think you would allow the winning dealership access. It's like you are "hiding" something....just my thoughts.

Once that first hp comes in it starts the clock for grouping inquiries. If you're not serious about buying a car in the next 2 weeks, the frozen reports will keep that clock from starting. Once you're serious, you can thaw your reports to let them HP you.

Re: Salesperson said it'd be a SP but it was a HP :(

Brian_Earl_Spilner — Sat, 17 Nov 2018 14:20:36 GMT

@Ardecko wrote:
Unless I'm mistaken, SPs are only allowed to pierce a frozen bureau if they identify as having an established business relationship with you.

While you should still have as many as you can of your reports frozen most of the time, this advice is not useful.

Actually, it is useful if you're just casually shopping. See my response above.

Re: Salesperson said it'd be a SP but it was a HP :(

Anonymous — Sat, 17 Nov 2018 14:22:48 GMT

True that Brian. Enables you to dictate when things pops off, on your terms! Smart!

Re: Salesperson said it'd be a SP but it was a HP :(

Gladius — Sat, 17 Nov 2018 14:30:04 GMT

@Brian_Earl_Spilner wrote:
@Gladius wrote:
@OmarR wrote:
Just another reason for everyone to have all 3 of their reports frozen.

Then when they admit to you that they couldn't HP you, you go and find another dealership. They know exactly what they are doing.
I understand the purpose of freezing one's reports, but I don't understand your rationale on this. So what if said dealership gives you the "best" deal, wouldn't you allow them full access to your credit report, or would you simply go to the next dealership? A car purchase is a major transaction on your credit profile so I would think you would allow the winning dealership access. It's like you are "hiding" something....just my thoughts.
Once that first hp comes in it starts the clock for grouping inquiries. If you're not serious about buying a car in the next 2 weeks, the frozen reports will keep that clock from starting. Once you're serious, you can thaw your reports to let them HP you.

I understand that, and understand the importance of keeping a good mix of credit on your profile, but many people act like a HP is like a death notice for their credit report. If you are car "shopping", the point is to get the BEST deal for you. If you play the game of keeping your credit reports frozen, you may miss out on that BEST deal. If you are serious, then stop the "game", and give the dealership what they want to get you in the car you WANT. My last car purchase only gave me 2 HPs on my report, scores didnt change and I don't plan on applying for credit for ANYTHING in the next couple of years and haven't had a "loan" HP in the last 3 years. And while I was "shopping" for my car, I went to 3 dealerships with not one HP, the 4th got my business and the HP.

Re: Salesperson said it'd be a SP but it was a HP :(

Anonymous — Sat, 17 Nov 2018 14:41:11 GMT

Well multiple HP’s are actually pretty terrible for a rebuilder/thin file so there's that. Before purchasing a vehicle my suggestion is to lock up financing prior to visiting the dealership. I prefer to dictate my future.

Re: Salesperson said it'd be a SP but it was a HP :(

Gladius — Sat, 17 Nov 2018 14:38:07 GMT

@Anonymous wrote:
Well an HP is actually pretty terrible for a rebuilder/thin file so there’s that. Before purchasing a vehicle my suggestion is to lock or financing prior to visiting the dealership. I prefer to dicatate my future.

Well I never had to worry about that since I am a very conscience about my credit profile, but yes.

And yes, that should ALWAYS be mandatory for the serious buyer (from your bank of choice).

Re: Salesperson said it'd be a SP but it was a HP :(

OmarR — Mon, 19 Nov 2018 01:42:59 GMT

@Gladius wrote:
@OmarR wrote:
Just another reason for everyone to have all 3 of their reports frozen.

Then when they admit to you that they couldn't HP you, you go and find another dealership. They know exactly what they are doing.
I understand the purpose of freezing one's reports, but I don't understand your rationale on this. So what if said dealership gives you the "best" deal, wouldn't you allow them full access to your credit report, or would you simply go to the next dealership? A car purchase is a major transaction on your credit profile so I would think you would allow the winning dealership access. It's like you are "hiding" something....just my thoughts.

Brian has eloquently explained my rationale.

Plus you need to re-read the OP. They specifically discussed a SP and this wasn't neccesarily the "winning" dealership yet.