Need really quick help with auto financing

[Anonymous]

Asking for a friend (really.) She's buying a car and doesn't have alot of experience dealing with dealerships. She has financing through her bank at a really great rate so won't be doing financing with the dealer; she also has the option of putting it on credit cards and paying them off immediately to bank the points.

I seem to remember a post on here written by someone who outlined a "trick" where you don't tell the salesperson that you are essentially paying cash, and when you fill in the form, you only write down your name but not your SS # so they can't run your credit. It was used to increase purchase price leverage. Does this sound familiar to anyone and can anyone send the link? I don't have time to scroll through the search and she's buying it today or tomorrow.

Thank in advance.

[StartingOver10]

Here is one of the threads:  http://ficoforums.myfico.com/t5/Auto-Loans/How-to-buy-a-car-for-the-first-time-buyer/td-p/1923289

Here is another thread on buying:  http://ficoforums.myfico.com/t5/Auto-Loans/Guide-to-Financing-Leasing-and-Refinancing-a-Car/td-p/289...

As for having them run the financing, do not let your friend sign anything because they will run her credit many times - which will drop the score. Even if she puts her name down and not her social, they can run her credit (I have seen this before but I have no idea how they do it). Signing the document they shove in front of her will give them authority to run the credit - so do not sign it.

Don't mention cash purchase at all, act like you are financing through them so you can negotiate price. They will negotiate before it is time to run credit. If they don't have your permission to run credit, they can't run it. Bring up the cash portion when she is ready to commit. I didn't find the exact thread you wanted to see - but I remember it. 

[Anonymous]

This is very helpful. Thanks so much.

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@StartingOver10 wrote:

Here is one of the threads:  http://ficoforums.myfico.com/t5/Auto-Loans/How-to-buy-a-car-for-the-first-time-buyer/td-p/1923289

Here is another thread on buying:  http://ficoforums.myfico.com/t5/Auto-Loans/Guide-to-Financing-Leasing-and-Refinancing-a-Car/td-p/289...

As for having them run the financing, do not let your friend sign anything because they will run her credit many times - which will drop the score. Even if she puts her name down and not her social, they can run her credit (I have seen this before but I have no idea how they do it). Signing the document they shove in front of her will give them authority to run the credit - so do not sign it.

Don't mention cash purchase at all, act like you are financing through them so you can negotiate price. They will negotiate before it is time to run credit. If they don't have your permission to run credit, they can't run it. Bring up the cash portion when she is ready to commit. I didn't find the exact thread you wanted to see - but I remember it. 

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StartingOver10 wrote: ...Don't mention cash purchase at all, act like you are financing through them so you can negotiate price. They will negotiate before it is time to run credit. 

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If asked to fill out a credit app, say "Credit will not be a problem, but I don't want to get into that until we have a deal."