Credit Inquiry

[Anonymous]

Hi All, 

Yesterday i went to Toyota to finance a new car-- after filling all the paperwork, i was told that my credit would not be used before i told them to go ahead.   After seeing the paperwork and noticing that the deal would not benefit me, i walked away.  Today i saw that there was a credit inquiry from NCCINC/TOYOTA on my credit report.   Can i dispute this?  I did fill out a credit application, however, i reiterated to them that i did not want my credit used until i felt 100% sure.   What can i do in this situation?  My score did not go down though, yet... 

[blindambition]

There's usually wording on documents you signed, that gives them permissible purpose. It's not disputable.

You can try contacting financial manager at dealership. Explain what happened, and ask for removal. There's a good chance they won't, but worth the try.

For future, go in already funded with loan approval, or with reports locked. You can unlock while there, and lock again.

[coldfusion]

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Filing a dispute with the CRA will serve no useful purpose and you won't get the result you seek. This is between you and the dealer as to whether or not you gave permissible purpose, and their probable argument would be that since you completely filled out and signed the necessary paperwork you did give them permissible purpose. 

You have to take this up with the dealer directly to have them withdraw the inquiry - it can be done, they may not know how or want to do it - and if they will not budge file a CFPB complaint since they did tell you that they weren't going to make the inquiry. 

[barca]

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@blindambition wrote:

There's usually wording on documents you signed, that gives them permissible purpose. It's not disputable.

You can try contacting financial manager at dealership. Explain what happened, and ask for removal. There's a good chance they won't, but worth the try.

For future, go in already funded with loan approval, or with reports locked. You can unlock while there, and lock again.

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+100

This is good advice 

[Shooting-For-800]

Typical car sales

[Gladius]

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@Anonymous wrote:

Hi All, 

Yesterday i went to Toyota to finance a new car-- after filling all the paperwork, i was told that my credit would not be used before i told them to go ahead.   After seeing the paperwork and noticing that the deal would not benefit me, i walked away.  Today i saw that there was a credit inquiry from NCCINC/TOYOTA on my credit report.   Can i dispute this?  I did fill out a credit application, however, i reiterated to them that i did not want my credit used until i felt 100% sure.   What can i do in this situation?  My score did not go down though, yet... 

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I'm pretty sure in that paperwork, it probably had a line that said "your signature authorizes us access to your credit report".  I would never take the sales person's word for it.  That's how they get you infortunately....smh  You can talk to the finance guy.

[dunn2500]

yeah lesson learned, dont fill out a credit app until your ready.......going in preapproved is really the best way even if you do use their banks, its just smart and only benefits you so no reason not too......