Dealer ran my credit despite the fact the car was sold. Credit score has now dropped

[gsxr600k6]

So I have a issue where the dealer ran my application despite the fact that the car was sold, I only wanted to apply for financing for that particular vehicle and they still ran my credit depsite the fact that it was sold. Can I dispute this? I made it very clear that it was for that particular vehicle but the car was sold the day before. my TU dropped from 615 to 598.

-To make a long story short the car was sold yesterday but they still ran my credit before informing me.

[SOGGIE]

Get a copy of your credit reports, if you have not already done so. Send a certified letter (with signature confirmation) to the inquiring company listed on your credit report(s)--informing them 1) of the circumstances, 2) that according to law, the inquiry is considered, "unauthorized," 3) that you request deletion for the unauthorized inquiry.

[gsxr600k6]

Thanks for the response. Is there a template I can use to inform the credit bureau of the unauthroized inquiry. I think it is pathetic that they run my credit when the damn car is sold.

[pizzadude]

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@gsxr600k6 wrote:

Thanks for the response. Is there a template I can use to inform the credit bureau of the unauthroized inquiry. I think it is pathetic that they run my credit when the damn car is sold.

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You mean that it was sold to someone else, correct?

Did you fill out any paperwork at all whilst at the dealership?   Sign anything at all?    If you applied for financing then they have your approval to run your credit.

[ezdriver]

I see no recourse if you signed an auto financing application. By signing that application your authorized them to pull your credit. Sounds like the car may have been sold while they were checking your credit. That happens sometimes. I sell new construction homes and I have sold a home to my buyer while my colleague's buyer was still filling out mortgage application for preapproval. Not much that can be done to undo the credit pull.

This is why I am always encouraging people to gettheir auto financing secured before going car shopping ... just as one would get a preapproval before shopping for a house.

[gsxr600k6]

The car was sold the day before and they failed to inform me prior to running my credit. I had applied for that particular vehicle online and it is in my opinion their duty to inform the customer if a particular vehicle is available prior to running the applicaiton. It was a Credco inquiry.

How the hell does one inquiry drop 18 points considering I rarely do it. I am not under 600 which makes me furious.

[songsofexperience]

Same way a dealer processed an application from my dad a few years back when he was in the early stages of dementia - because many of them (not all!) are cheating bleeeeeepers!

My mom was out of the country at a funeral and my dad went to the dealership - he got financing, but I'm pretty sure he only qualified with both their incomes, but she wasn't there to agree to having her credit run and her income put on the app - he ended up paying $19,000 for a Toyota Yaris. A Yaris! How do you even get a $19k Yaris - it would need to be gold-plated. My mom got back to town a week later and tried to get them to take it back. They wouldn't, even though they couldn't produce his application, which she insisted on reviewing. He said that he told them he wanted a used car for less than $10k and they just put papers in front of him to sign. Well, he's dyslexic too so . . .

I was living across the country at the time so couldn't do much. I called them, furious, and they said, "He knew exactly what he was doing and didn't appear to us to have any comprehension issues." They took advantage. The car was eventually Repo'd and Toyota tried to get them to pay $6000! They didn't. Every now and again they send a letter trying to collect and I call them and sweetly inform them my mom passed away and my dad lives on $1400 a month and that if they want to try to sue him they're welcome to spend their money doing so, but since he now has advanced dementia and SS can't be garnished anyway, they're SOL (and I don't mean Statue of Limitations). It's kinda fun.

I agree, if you see a car and only that car and want to apply for a loan for it, they should tell you it's no longer available. But that's what they do right? You see a great car, great deal, apply for financing and they say, "we don't have that car anymore, but here's another just a bit more expensive and since you already got approved for a loan why don't you buy this one." They think we're idiots! I would fight this and get it off my credit and if they won't help, complain to the BBB and anyone else you need to!

Ggrrrrr. I'm outraged for you!

[gsxr600k6]

Sorry to hear about your parents situation. Must have been tough on them. Should I use the TU online dispute form or send them a mail? or do I do the same thing for Equifax and Experian? Equifax was not affected.

[gsxr600k6]

Can I add another inqury and not worry about having anymore points deducted? I need a car pretty badly and would like to apply for another auto loan, perhaps this time for something cheaper 15-18k. Thanks in advance.

[0REDSOX7]

All inquiries within 30 days of the first that are coded as auto loan inquiries will count as one with regards to your score (this only applies to the FICO score).

Third party sites such as Credit Karma, Credit Sesame, etc, see all of these inquires and act as if they are individual inquiries with regards to their scoring model (FAKO), so take that with a grain of salt...

Good luck car shopping.

Have you considered a credit union so you don't have to deal with the financing at the dealership?