In the middle of auto loan (Toyota) with EX freeze? Desperate for advice

[Anonymous]

Hi! So about two weeks ago I was notified of two inquiries (kohl’s and Macy’s) that I did not initiate, so I disputed and froze my credit with Experian. I was told I can call anytime and remove it.

Fast forward to this Saturday I went to Toyota and bought a new car, and was able to get a good interest rate. The financial manager asked me to unfreeze experian so I called. I was advised to give a PIN which I haven’t received yet. They told me I’d need to mail information since I didn’t have my PIN? The financial manager seemed like that was fine and they did run TU and EQ. When I was signing my loan documents he told me to still contact EX to unfreeze or it will delay the loan?

I am now home with my car, and worried to death that when EX opens tomorrow I will be told this is going to be a couple week process. Is ALL THREE bureaus really neccessary for Toyota to proceed? And does this mean they will ask for my new car back?


Thanks so much!!

[Loquat]

OP, sorry someone tried to open some accounts in your name.  Thankfully you were able to catch it.

As for your new car, first, congrats!  Buying a new car is always fun...at least for me.  Now, as for the running of credit...do you have any pulls from Toyota Financial?  If so, I wouldn't worry too much.  If you don't and the dealer insist that you unlock EX it could be that he hopes to hang your deal with Toyota Financial but I'm certain he has a backup plan in the instance that you don't or can't.  

The dealer has NO incentive to take that car back...trust and believe any good finance manager will have another card to play.  You'll be fine.  As for the delay, well if his intent is to hang your deal with Toyota and for whatever reason he can't then he'll hang you with someone else and there may be a re-inking of paperwork and possibly a change in rate.  

Don't worry about it too much...just focus on enjoy your new car!  Congrats again and enjoy!

[Anonymous]

Thank you so much for your response! Definitely helps me to feel better! Haha. When we were initially running numbers he said “I need the freeze removed”, when I told him they wouldn’t remove it over the phone he acted very upset.

Then he sort of dropped it, an hour or so later I get back to finance, he tells me going through Toyota (I assume) they ran my TU and EQ and need EX now or it won’t work.

I walked out with the car, now I’m just worried about the credit bureau, they are giving me such a hard time with this.