Soft INQ

[babbles]

I walked away from a deal today because in the agreed out the door price, the dealer told me I would go to DMV to pay my tax or however it goes, which would have been an additonal $1200 or $1300 on top of the deal .  They said they can't roll in the taxes, and I guess they thought I didn't know any better.  Anyway, i have monitoring through FICO but how will I know if they try to run a "soft Inquiry" anyway??  i made it very clear that no inqury is to be run since no deal was made.  Hope my quesiton makes sense. Thanks!

[Appleman]

Make sure you are specific and have it in writing when negotiating your deal. Ask for final price with all taxes, fees and rebates included.

People do finance taxes all the time. Were you buying out of state by chance? That can be a bit more difficult to do but it can be done. 

There is not an easy way for people to see if a Soft Pull has been done. If they did a Hard Inquiry that should show up with myFICO monitoring. The SP would not make any difference on your score.

Be careful because dealers have to get you to sign the form to pull your credit. Once you sign the form, verbal requests don't mean much. The only way to make it very clear is to not sign the credit release form.

[babbles]

Thanks for the reply and I was not notified of your reply.  It was going to be a deal across the bridge from MO. on the IL side.   Your'e right, we made the deal for "out the door" price but only included preparation fees of $199.  Things were going a little too fast and smoothly and then when he said "you" can pay the taxes in 30 days, everything stopped and they wouldn't move on the price but unfortunately I had already signed to have a credit pull.  Fortunately, they had not done anything with my paperwork which was sitting right in front of me. I sternly and firmly expressed that since there is no deal there is not to be an inquiry.  My monitoring has not relfected a pull and its been about 5 days since but I am watching very closely. 

[MarvBear]

http://www.revenue.state.il.us/Publications/Sales/rntrrc/ST-58.pdf

[Appleman]

I can see where a mis-understanding could take place in an area near a state border. Glad that you caught the tax issue before signing any paperwork.

[babbles]

Thanks for the wonderful chart!  The salesman said taxes would be no more than $300 but I told him they will be upwards of about $1100-1200 or so.  I would say I am surprised they wouldn't give a little more on the price but glad it didn't work out!