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Need advice on my car shopping experience today

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Regular Contributor

Need advice on my car shopping experience today

Long story short, I went to the dealership today to purchase an Elantra for around 11k. I want to put the car on my Amex but of course that may never happen.

 

Ok, so the first dealership I went to showed me a 2010 Dodge Challenger for $17.4. After the taxes and fees were tact on, it came out to be $18.5. I said heck no. I told my sales guy that I didn't want to pay over $250/month and if he could sell me the car for $16.2 (with taxes and fees included).. we had a deal.

 

He asked if he could do a soft pull on my credit report to see what my score was it and it was a 697. At that same time, I got an alert that my TU score went down 1 point. My question is did he run my credit? Before he got my score, he wanted to know where I worked, how long, monthly income, address, etc. I said are you sure this is a soft pull and he said yes. 

 

After giving me some numbers, I decided to leave because he couldn't get the price where I wanted it. What is the likelihood that they will call me with a better price?

 

Current Scores: Feb 2015 EQ 655, TU 704, EX 682

QS1 1.5k ~ Freedom 2.2k ~ BCE 15K ~ Venture 13K
Message 1 of 6
5 REPLIES 5
Senior Contributor

Re: Need advice on my car shopping experience today

99% chance its a hard pull and there will be many - He figures you went from 11k to 16k "that easy" and now you are a payment shopper - be very careful as would never advise letting a dealer place me in a car based on payments rather than cost of the car and loan.

Message 2 of 6
Moderator

Re: Need advice on my car shopping experience today

Never heard of an auto dealer doing a soft pull

Message 3 of 6
Regular Contributor

Re: Need advice on my car shopping experience today

He called me today and wanted to know if I was interested in another car. I'm going to pass and just keep rolling in my little beater. Pissed about the potential HP's tho.

Current Scores: Feb 2015 EQ 655, TU 704, EX 682

QS1 1.5k ~ Freedom 2.2k ~ BCE 15K ~ Venture 13K
Message 4 of 6
Moderator Emerita

Re: Need advice on my car shopping experience today


@oneblessedchick wrote:

Long story short, I went to the dealership today to purchase an Elantra for around 11k. I want to put the car on my Amex but of course that may never happen.

 

Ok, so the first dealership I went to showed me a 2010 Dodge Challenger for $17.4. After the taxes and fees were tact on, it came out to be $18.5. I said heck no. I told my sales guy that I didn't want to pay over $250/month and if he could sell me the car for $16.2 (with taxes and fees included).. we had a deal.

 

He asked if he could do a soft pull on my credit report to see what my score was it and it was a 697. At that same time, I got an alert that my TU score went down 1 point. My question is did he run my credit? Before he got my score, he wanted to know where I worked, how long, monthly income, address, etc. I said are you sure this is a soft pull and he said yes. 

 

After giving me some numbers, I decided to leave because he couldn't get the price where I wanted it. What is the likelihood that they will call me with a better price?

 


^^^Dead giveaway he was taking an application on you and pulling your credit. Dealers don't do soft pulls no matter what he says - financing a vehicle is a hard pull. The minute he said soft pull you should have walked away because then you know he would tell you anything to get the deal done - true or not.

 

Can't be overstated - never buy on payments, get the vehicle price worked out first.  Once you start talking payments the dealer messes with you for not only the monthly amount but the term too. It is car sales 101 for the sales rep to keep the buyer talking payments.

Message 5 of 6
Regular Contributor

Re: Need advice on my car shopping experience today

We haggled about the price of the loan more than the payment. They kept asking me why I wanted the car to be under 16k with fees and taxes.

 

Anywho, I did get a HP today (only one from TU). So it's not a big deal since my score didn't suffer. Im thinking about picking the car up today. I don't know. I'll upload pics if I get it. Kinda excited..kinda not. Don't know if that is a good sign or what.

Current Scores: Feb 2015 EQ 655, TU 704, EX 682

QS1 1.5k ~ Freedom 2.2k ~ BCE 15K ~ Venture 13K
Message 6 of 6
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