Need Advice after being approved through Subaru/Chase

[Anonymous]

Hello all,

Found the perfect used/certified vehicle to buy. Long story short, I allowed them to pull my credit over the phone, I qualified for the certified rate at 1.9% for 60 months, and left a deposit over the phone. On my way to pick up the vehicle, wouldn't you know it, someone hit it in the lot! I just couldn't stomach it. No amount of money at the time would make me feel better after seeing it. We scrapped the deal, and I got refunded my deposit. So I looked, they pulled Chase automotive, and Capital One or "COAF" as well.

Here is my main question, if I go to another Subaru Dealership, I know that they can see the approval through Chase/Subaru, so will a new Subaru Dealer also NEED to pull my credit? Should I fight this Capital one pull on my credit? I never signed anything to pull my credit, although I gave a verbal agreement over the phone.

Thoughts?

[Anonymous]

I doubt another dealer will be able to use the pull but it is possible depending on how the preapproval was done.  If you applied through the Subaru site it would probably work but it sounds like you applied through the dealer so I am guessing it won't work.  Having said that an HP within close proximity for an auto loan isnt going to hurt you so I wouldn't lose sleep over it.  Bummer about the car getting damaged but there are plenty of great used Subarus out there.  Because they hold their value so well you might want to consider buying new.  The price difference between a newly used and new Subaru is generally not a whole lot.  Same thing with Hondas.

[Anonymous]

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@Anonymous wrote:

I doubt another dealer will be able to use the pull but it is possible depending on how the preapproval was done.  If you applied through the Subaru site it would probably work but it sounds like you applied through the dealer so I am guessing it won't work.  Having said that an HP within close proximity for an auto loan isnt going to hurt you so I wouldn't lose sleep over it.  Bummer about the car getting damaged but there are plenty of great used Subarus out there.  Because they hold their value so well you might want to consider buying new.  The price difference between a newly used and new Subaru is generally not a whole lot.  Same thing with Hondas.

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Thank you very much for this information. I did apply through the dealer. You're absolutely right, the way they hold their value is stupid!