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I've never built/ordered a new car before so I apologize if this is a dumb question... So I was in my local dealer the other day, mind you this is where I bought my previous 03 C5 and current 06 C6, inquiring about ordering a C7 vert and talking about what he would need to be able to get one on order for me. He mentioned a $1000 deposit, which I'm fine with, but then he also mentioned that they would need to run a credit check. The credit check kind of surprised me. Not that I would expect any problems if they did run one, I just don't like agreeing to a check if it's not necessary. Obviously they would need to run one when it comes time to purchase the car, assuming I finance through GM, but is this standard practice when building/ordering a car?
They want to see if you are real, still I would not let them do it. But ordering from many dealers is not that simple. They may not be able to get you a car...read the stickys here about ordering and codes.
It's not standard practice but it's not unheard of either. I've factory ordered three cars (including my current Corvette) and don't recall the dealer ever doing a credit check. I suppose they just want to verify that you'll be able to complete the transaction when the car arrives.
I've never built/ordered a new car before so I apologize if this is a dumb question... So I was in my local dealer the other day, mind you this is where I bought my previous 03 C5 and current 06 C6, inquiring about ordering a C7 vert and talking about what he would need to be able to get one on order for me. He mentioned a $1000 deposit, which I'm fine with, but then he also mentioned that they would need to run a credit check. The credit check kind of surprised me. Not that I would expect any problems if they did run one, I just don't like agreeing to a check if it's not necessary. Obviously they would need to run one when it comes time to purchase the car, assuming I finance through GM, but is this standard practice when building/ordering a car?
I assume most dealers run a check but just do not mention it to you. And, if you pay cash at the time of delivery, you can believe the dealer has pinged your checking account a few minutes before you sign the papers.
I assume most dealers run a check but just do not mention it to you. And, if you pay cash at the time of delivery, you can believe the dealer has pinged your checking account a few minutes before you sign the papers.
Unless I'm missing something, they can't legally run a check with out you signing an authorization form.
So based on the fact that it's not completely uncommon, do you guys think it's worth me pushing back on the dealer over this? Also taking into account that I've purchased both of my previous vettes from this dealer.
I assume most dealers run a check but just do not mention it to you. And, if you pay cash at the time of delivery, you can believe the dealer has pinged your checking account a few minutes before you sign the papers.
Mine didnt run a check. I'd be furious if they were running checks without notifying me. Especially if it was a hard inquiry.
...read the stickys here about ordering and codes.
Can someone provide me a good link to code info? I have been wondering about what all those ordering codes mean as far as the factory receiving the order, how far a car is from actual production, estimated delivery, etc...
So based on the fact that it's not completely uncommon, do you guys think it's worth me pushing back on the dealer over this? Also taking into account that I've purchased both of my previous vettes from this dealer.
Purely my two cents. I do not see the problem. You want the car and I assume you can afford it. So, what harm is done by checking you out?
Funny how everyone gets into different situations. 3 of the Forum dealers here wanted deposits when I contacted them. 2 @ $1K 1 who I had just bought a C6 from 3 months earlier wanted $2.5K!!!!
When I ordered my car........ small vette dealer in Columbus Oh... I asked about a deposit and he said your word is good enough for me. No deposit...... no obligation.
Can someone provide me a good link to code info? I have been wondering about what all those ordering codes mean as far as the factory receiving the order, how far a car is from actual production, estimated delivery, etc...
They want to see if you are real, still I would not let them do it. But ordering from many dealers is not that simple. They may not be able to get you a car...read the stickys here about ordering and codes.
Yea, I've followed many of the forum members journeys and seen how long the whole process can take. That's the other thing that worries me too. My dealer assured me that if I gave them the order they would be able to submit it right away. My understanding from all the reading here is that the dealer must have an allocation available in order to place an order. My concern is that once I place the order and give my deposit, my order will just be sitting. Is there anyway for me to find out if the dealer actually has an allocation? Otherwise, should I get something in writing that basically says I can get my deposit back if my order still hasn't been accepted by GM after a couple weeks?
Purely my two cents. I do not see the problem. You want the car and I assume you can afford it. So, what harm is done by checking you out?
Well, as far as I'm aware, each credit inquiry does actually negatively impact your credit. Although it's probably a minimal impact, it's still a negative impact. It's not so much that I have a problem with them running the check, I just wasn't sure if it was a standard practice. The other point I would argue though, isn't that the reason for a deposit. Once the car comes in and it's time to purchase, if I can't get approved, they keep my deposit and turn around and sell the car to someone else.
Anyway, I'll probably end up just letting them run the check, I just wanted to get a little more info before giving them my permission.
Tell them you are bringing your own financing or paying cash (same thing as finacning through a bank/credit union) and that a credit check is not necessary.
Tell them you are bringing your own financing or paying cash (same thing as finacning through a bank/credit union) and that a credit check is not necessary.
I agree, and would go somewhere else if they still insist.
I once cancelled the purchase of a vehicle from a dealer who insisted running a check even though I had my own financing. They claimed it was "because of 9/11." I went to the next closest dealer and bought the vehicle without a cc.