Dealership needs to pull my credit for placing order

camarochevy1970 said:

they should only be pulling the credit report if they are financing the deal. If he goes to his credit union or whatever, then the dealer has no right to pull the report. What if he tells them he is paying cash? Not like he is walking in there with a suitcase of $100's at order time, right?

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They want to be sure SOMEONE can finance him. No sense ordering the card then finding out no one will give him a loan.

MJS73 said:

They want to be sure SOMEONE can finance him. No sense ordering the card then finding out no one will give him a loan.

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I mean maybe but I would still walk. I've never had a dealer try that with me.

MJS73 said:

They want to be sure SOMEONE can finance him. No sense ordering the card then finding out no one will give him a loan.

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And honestly dealers have spent the last 2 years boning buyers every way they can, including asking markup for the privilege of buying from them, so if that is turning to where buyers are bailing or now not getting financed, then hope the extra money they got the last 2 years helps them prepare

camarochevy1970 said:

And honestly dealers have spent the last 2 years boning buyers every way they can, including asking markup for the privilege of buying from them, so if that is turning to where buyers are bailing or now not getting financed, then hope the extra money they got the last 2 years helps them prepare

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I'm not sure how someone gets "boned" when they agree to pay an asking price and purchase an item. Or does "getting boned" mean a seller refuses to agree to your price?

I mean you and I aren't going to agree on this. My advice to the OP is find a better dealer and don't let them run your credit. Mjs is of the opinion the dealer is fine to ask for a hard inquiry to order a car. Only you can determine what your comfortable with

I agree with others they want to feel comfortable you can get your financing. You should be able to get a free credit report and ask them if they will accept that. Your free report does not show an inquiry, their pull will show inquiry. Their pull would have very little affect on your credit. But up to you what you are comfortable with.

They are essentially telling you they don't trust the credit rating you told them. They want to know for sure so they can try and get you away from using your credit union and going with them. I would tell them to pound sand if you don't want to trust my word.

N F W! If your giving them a $1K deposit that's all they need to know, other than your name and address. Otherwise find a new dealer because these guys can't be trusted!

RRDon said:

N F W! If your giving them a $1K deposit that's all they need to know, other than your name and address. Otherwise find a new dealer because these guys can't be trusted!

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Exactly right.

Slowpoke387 said:

Current credit pull is irrelevant and useless. If the car takes six months to come in your credit could tank for all they know. And even if it didnt they will need to pull it again to check when the car comes in. Credit should only get pulled the day/week you sign. Two hard hits makes no sense.

Edit: just saw youre using a credit union. NO credit pull ever by the dealer then. Theyre trying to get you to finance with them to get more kick backs.

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Or they're trying to see what kind of ADM you can afford when the car comes in.

R.K.

MJS73 said:

They want to be sure SOMEONE can finance him. No sense ordering the card then finding out no one will give him a loan.

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Exactly and then they have possibly wasted one of their allocations. I'm sure this will happen a lot
with it being the last year but ppl won't talk about it. Would you rather have a credit pull or 15k markup on the car lol

dsb said:

Dealership requires a $1,000 deposit, and also wants to run my credit report for placing a hellcat order, is it normal?

I am not using their finance, not sure whether this is appropriate.

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Just a thought- I monitor my credit, and your own credit report is free to you. All other things being equal, and considering other replies from members, why don't you just give them a copy of your report rather than them doing a credit pull now? It's just as irrelevant as them pulling your credit now, but at least it won't ding your credit and they get the piece of mind that they aren't wasting an allocation.

The dealer that I ordered my 22 Jailbreak from told me up front that they required a credit check at time of order even if I was planning to pay cash. I agreed and understand why they do it prior to placing an order for their one and only Jailbreak allocation. I also paid a $1000 deposit which was refundable if I did not pick-up the car.

If you are worried about what 1 inquiry will do to your credit score you probably should not be buying a $100k car.

When I bought my 2019 Redeye at 1500 below invoice, the deal was done over the phone. They pulled my credit and took a $1k deposit after they ran the credit. This is very normal.

The most important part of them wanting the credit pull is that they are afraid to put a $100k car into inventory. If they were sure they could sell it easily, then they wouldn't care one bit about your credit score. This tells you what the dealers are thinking about their ability to sell these cars if they are in inventory in a few months.

Did you walk into the dealership wearing overalls?

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Radride said:

Or they're trying to see what kind of ADM you can afford when the car comes in.

R.K.

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This is most likely it. When we went to buy my wife’s Camaro they wanted to run a bunch of credit b.s. before we even talked to a salesman or test drove the car. Pissed me off. I personally think it was to see how bad they thought they could screw me. Like if my credit rating was an 800+ we can screw the guy more which is total b.s.

I knew for a fact I was trading in a paid off car and paying cash for the rest of it but I didn’t want to tell them up front or it could affect my bargaining power.

CBRTurbo said:

If you are worried about what 1 inquiry will do to your credit score you probably should not be buying a $100k car.

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Total nonsense. Hard pull will certainly lower your credit score and potentially raise your interest rate regardless of your income (which is, by the way, not reflected by your credit score). So the OP has a valid concern, especially if he ends up buying/financing from someone else.

they should be able to do a soft pull and get a ballpark score and a rough picture of your debt/income ratio etc without doing a hit to your credit rating. BUT If you are going with your Credit Union or bank, they dont have to. Get a letter from your lender stating the $$ amount you qualify for. If they dont like that then find a diff dealer.

Well , I know this is last year model and all and that may change the situation . I walked in my dealership Oct of 2021 and they ran my credit and got locked in at 0% thru Chrysler at time of order . I didn’t have to do anything else . No bank statements or pay stubs or anything . To each their own on opinions on credit check I guess . I had to put down 500 and had the option to have them return it by a check when car arrived 4 months later and that’s what I did .

When I ordered my 2021 every dealer I spoke to in my area would run a credit check to place the order. Even ones I had bought vehicles from in the past.
I wasn't happy, but gave in. They never ran squat. Nothing showed up from the three credit bureaus, at least until the vehicle came in and they changed their rules that I had to finance through them.