Is SSN really need, if pre-approved by CU?

[Anonymous]

Guys, I posted in someone else's thread and I thought I would start my own.

Basically, my wife was pre-approved by her CU and Honda still ran her credit, when she wanted to buy a car.

I have read that by law, they only need to check OFAC and that the SSN # isnt needed on the credit form, and dont sign it.

Also I have read that, legally, I can put my own terms in the contract, such as, that I dont authorise them to run my credit report, initialling iand dating it.

What is the law and what are the best steps, to avoid dealers running your credit and pulling mutiple HP.

Thanks

[CH-7-Mission-Accomplished]

Never give your social security number and freeze all your reports before walking into the dealership.

They no more need your SS number to sell you a car than the grocery store needs it to sell you eggs.

Driver's licenses and passports are all you need for ID.

[C7LT1]

The short answer is no but dealership like to use their credit application to verify identity and run credit at the same time.

Here is the long answer (copy and pasted from another thread I wrote...

I ran into this a few years back and almost walked away from the deal becaue I would not let them run my credit. I think there is a disconnect at some dealerships and they need better training for their salesman.

What they are referring to is a provision in the Patroit Act. It requires dealers to screen cash buyers to make sure they are not on a government terrorism watch list. However, there is no requirement for them to run your credit to fulfil this requirement. They have to collect your name, address, date of birth, Social Security number and occupation, There is also a require for them to report cash buyer of over $10k to the IRS using form 8300. If you have a check from your bank/CU you are a cash buyer.

In the case of my dealer they were using there credit application to collect this information which I fill out but refused to sign because the fine print stated "by signing this form you consent to a credit check". The sales man tried to ensure me they would not run my credit but I needed to sign to complete the sale. I told him that if I sign that form it does not matter what you tell me your going to do. My signature on that form (legal document) will give them permission to run my credit. If they in fact run my credit, I will have no legal ground to stand on. I ended up talking to the head guy at the dealership and explain the Patriot Act to him and told him I would not sign a credit form however, they had all the information they needed to comply with the IRS and Patriot Act requirement. I also, suggested they create a separate form for this requirement. He agreed and we completed the transaction without me signing the form.

I knew if they ran my credit using a form that i did not sign then I could dispute it with success. You have to be informed on the car buying process because at all sales man or managers at dealership know all the rules. I hope this helps.

If you signed a credit check form there is nothing you can do.

[CH-7-Mission-Accomplished]

I just hate being wrong!  LOL.

So here is the deal.  Poster above is right -- cashier's check over 10K is considered cash.  And you do have to provide your SS number.  Looks like the only way to protect yourself is to make sure your reports are frozen before you go in, unless you want the dealer to find you financing.  I learned something new.  

However, they DO NOT have to run your credit report, and that is a scam.  

See this discussion from Edmunds.com

http://www.edmunds.com/car-buying/car-dealership-credit-report-scams-and-the-patriot-act.html

[Anonymous]

Ok, so pretty much, give them your SSN, but dont sign the credit application IF you have pre-approval AND/OR freeze the reports before walking into the dealership.

ANd if they do force for a credit application, pretty much walk out and find other dealership.