I did something so stupid - any way out???

[BungalowMo]

I believe only EQ allows you to dispute hard inq's anyway.  But...to try & get rid of them, you'll do best to call the dealership.  If they won't remove them, then it's time for a letter to your  local bbb and/or your state's atty general.  3 in 2 days is beyond excessive.

[Minato08]

I'm glad you got out of it and I'm happy to see that my suggestion regarding the financing helped get you out of the deal. 

[Tazman81]

DeeDee, I am glad you were able to get out of that.  As far as the inquiries, do you know if they were from the same company?  Many dealerships run your credit through a number of lenders at the same time, thus causing multiple inquiries.  I do not think they are hurting you as much as you may think.  From what I've read, the FICO scoring system is smart enough to know when a person is "shopping" for a large purchase such as a home or a vehicle and thus takes into account there may be many inquiries within a short period of time.  I would just count your blessings regarding the vehicle and move forward.  Keep doing what you are doing.

[DeeDee642]

I gave them permission. Does that mean they have unlimited permission? They have run it three times already. Shouldn't they just be allowed to run it for the one purchase. One of the inquiries was 3 days after I told them I had no intention of buying a car from them. I'm sorry but I've never heard of a fraud alert? What exactly is that.

Thanks,

Janice

[DeeDee642]

Minato, Thrasher, BungalowMe Tazman:

Thanks again for all of your helpful advise and encouragement. By the way, all three of the inquiries were by Nissan. I hope that it doesn't hurt too much. I am enrolled in a couple different programs to track these kinds of things and I haven't seen an alert regarding a drop yet. I have seen the multiple inquiries being reported.

Minato - you gave some great advice. It pretty much was what the woman at the Department of Motor Vehicles was telling me. They have a department that monitors dealerships. It's funny because at first she sort of was like "there is no grace period or cooling off period". That's when I started to panick. But, I kept on emailing her and sort of bugging her and that's when the information regarding the financing clause came out.

These forums are so helpful. Especially when it is the middle of the night and you can't sleep because you just signed a purchase contract for a vehicle you now realize you can't afford.

Thanks,

Janice

[SirMKnight]

Hi

Very happy that you were able to get that worked out.

Frustration can sap one who is already tired of good judgment.

Was Nissan going to provide the financing?

Because if they were then they would have to run a check themselves.

And if they needed to revise their financing deal, say the dealer was trying to advocate

your statement that the contract was unacceptable then maybe they pulled it again to revisit the subject.

Just a thought. But definitely worth disputing and we all learnt with you.

[Anonymous]

Hello.  I hate dealing with car salemen, period!  Do you have a relative or friend who can come with you to the dealership and give you support.  I am very good at saying no to a saleman, but my partner is not.  It helps to have a person who is not emotionally attached to the outcome present.  I hope this works out for you.  Nothing is worth losing so much sleep over. 

[Anonymous]

Hello Janice,  I wish I would have joined this thread earlier.

I worked in the automobile industry for 10 years.  Starting with a Honda Dealership, then an Automobile Finace Company that specialized in taking over dealerships finance departments to make them more profitable, to American Honda Sales Division and finally a high volume Mercedes dealership.

I would have like to known exactly what paperwork you signed and what you did not.  People back out of deals all the time.  Buyers Remorse is the classic case and you fell victim to some high pressure sales guys.  They sounded like scum to me.  Since they have no trade, did not  "dehorse you" (take your car from you) and no title they really don't have much.  I did not see anywhere if there was a balance owed on your 93 Olds.

When they start pressuring you.  Skip the Sales Dept all together.  Go to the GM or owner if it is not coporate owned.  You could have also told them that that you would shred them on their CSI (Customer Service Index) Evaluation.  Believe me, that is important to them.  Bonuses from the manfuacturer are paid to the dealerships based on those scores.  Local TV love this stuff too.  Especially if you are a teacher.  I am a teacher as well for the last nine years.

You had more recourse that you thought you had.  Bottom line is you are free and clear of the deal.  Good Luck and take care of your car.

[Anonymous]

 Janice, I have heard that while shopping for a car, you are allowed several hits in a two-week period that only count as one. The theory is that credit grantors understand that people shop around for the best car deal and may visit several deaslerships and lenders.That is probably true. I'm not positve enough of that to encourage others to risk that without checking, but I think it's cause for you to rest a little easier. I was a car salesman for 6 years, there are some shady, dishonest people in that business, that's for sure.) All the best on your credit building. This my Fico site can help. Also, may I suggest getting on Stephen Snyder's emailing list. He was the author of the book Life After Bankruptcy. Snyder says the info in the book is now outdated because of changes that have occured since he wrote it, so now he does a free email letter. You can go to lifeafterbankruptcy.com for his website. It opens up with a picture of him (a blond guy, be sure to spell it right to get to his site). He sells a few things, but his newsletter emalings are completely free. Whether you've ever filed bankruptcy on not, the info in these weekly newsletters can really help. I had a death and a sickness in my family a few years ago and I filed bankruptcy. Since then, my good payment history and his advice now has all three of my credit scores in good shape. In fact, my Transunion is an 802. They are all above 700. He was the also the one who steared me to this myFico site. All the best, Bryan