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Recent Auto Loan Request

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Anonymous
Not applicable

Recent Auto Loan Request

I recently submitted an online "pre-approval" for a used vehicle.  I specified on the application in the "Notes" area the amount I was willing to pay for the vehicle.  I also asked the dealership NOT to pull my credit if they couldn't honor the offer. 

 

Well, they didn't want to accept the offer but they still pulled my credit.  I also called and e-mailed them regarding this.  Can I reject the pull?  Would I deem it as fraudulent? 

 

Thanks for your help!

Message 1 of 4
3 REPLIES 3
Anonymous
Not applicable

Re: Recent Auto Loan Request

Answer, anyone?

Message 2 of 4
moondog7324
Frequent Contributor

Re: Recent Auto Loan Request

I don't see where you would have any recourse, by submitting the loan request you authorized a credit pull. You should have negotiated the price first.

Message 3 of 4
Lel
Moderator Emeritus

Re: Recent Auto Loan Request

The fact that you specifically went to a "pre-approval" site, which identifies it as a loan application site, makes it almost inevitable that your credit will be checked.  I'll bet that if you read through the fine print of the online application, it will indicate that you are giving them permission to pull your credit.

 

Dealers often try to group the purchase price and the loan application together in the the negotiations.  If they run your credit and find that you have a low credit score, they might agree to offer you a lower price because they know they're going to make a killing on interest charges.

Message 4 of 4
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