Tally Ho

Kerbeck made this one easy by using a wire transfer. They sent me all of the paperwork via FedEx overnight. I signed and returned with a prepaid overnight. When I got to the dealer we did the release paperwork and a demo of the car and features, had lunch and was on my way. Best buying experience yet.

falconhulk

How exactly do you lock your credit profiles?

VETJAZZ

Paid for my C7 by check with Mike Furman, no issues. I wrote a check for my CX-5 and they required I fill out a loan application. Once the check cleared I received a letter from the lender stating my loan application was DENIED.

hangman

You can put a fraud alert on yourself. This is what I do for myself and my wife. I have fraud alert put on my profile by the credit reporting agencies. Now if anyone wants to open up any credit, they would have to at least answer a set of questions which they would have to dig pretty deep into my info to be able to find the answers. It's not bullet proof, but makes it that much harder for someone to try to steal your identity.

RMS73

Some dealers will call the bank to verify that the check is good. Maybe this dealer didn't what to call the bank, some folks don't like the dealer checking on them, and was willing to use a good credit score as the way of verifying that the check would be good.

xwing

I think I've paid for all my cars with a personal check. Never had any problem and just drove off the lot... My guess is that specific dealer got burned before w/ a bounced check and was just covering themselves.

Thunder22

Agreed, not by a bank or financial institution, but a dealer could have some kind of SPIF for sales people for some reason.

Vetteman Jack

At this point, just enjoy the car.

Dave@Ciocca

We do this all of the time and the answer, in our case, is no. The dealer doesn't make any money unless the contract is sent to the bank and you make a certain amount of payments are made.

Dave

Kent1999

I'm not sure what the problem is... the Dealer is covering his assets, and it costs you precisely ZERO. "Time wasted" you say??? Not sure where you all are shopping, but I can't remember a time where I took more than 90 seconds filling out a credit app at a dealer in the dozens of car purchases I've made in the past few decades.

In today's world of forged checks, fake cashiers checks, and Walmart-attitude buyers, asking for some security before you drive off with a non-refundable $60,000 purchase is NOT unreasonable. If you don't like it, you are always free to shop elsewhere with dealers who run their business more carelessly.

And if your credit score is so marginal that you are worried about the temporary effect of a single inquiry, perhaps a $60,000 sports car should NOT be at the top of your shopping list.

defaria

In today's world of forged checks, fake cashiers checks, etc. as you put it, what stops you from forging a fake loan?

Certified check are *certified*. A quick, as you say - 90 second phone call to the bank is all you need to verify it. If my 90 seconds aren't worth anything to the dealer then surely his 90 seconds aren't worth anything to me and yes, I WILL take my business elsewhere if he's not interested in it.

Oh and BTW mine as more like $80K.

Kent1999

Much easier to forge a fake check than to forge a fake credit profile on EX/EQ/TU. Nothing is foolproof to a sufficiently-advanced fool, but that doesn't mean a business owner shouldn't try to implement *any* safeguards.

If someone is successful in coercing the dealer to change his business practices to suit their world view, more power to them. Seems like a bit of drama to avoid a 90 second app, but whatever -- we all get to decide how to spend our own time, money and effort.

ZenicaPA

You can have all three bureaus lock the file so it can't be opened by anyone, not a bank, car dealer, mortgage company----no one except you and it must be in advance of when you anticipate the report being needed, usually by 24 hours.

Equifax calls it a security freeze. Here is the letter they sent:

We are writing to confirm that a security freeze was placed on your Equifax credit file on February 26, 2011. In order
to (i) permanently remove the security freeze or (ii) authorize Equifax to release your credit file for a specific party,
parties or period of time, you must provide us with a 10 digit personal identification number ("PIN"). Your PIN is
0000000000. It is for your personal use only and should not be provided to anyone else, including potential creditors.
If you lose or forget your PIN, you may obtain a new PIN by mailing your request mail, together with a payment of
$5.00, to:
Equifax Security Freeze
P.O. Box 105788
Atlanta, Georgia 30348
You may have the security freeze temporarily lifted or permanently removed by contacting us at equifax.com, calling
us at 1-800-685-1111 or mailing your request to the address above. With either request, you must provide the
following personal ID information: (1) complete name, including any suffix (e.g. Jr., Sr., etc.), (2) complete address,
(3) Social Security number, (4) date of birth, and (5) PIN. Your request must also include, as applicable, the date
range (e.g. March 15 - March 21) for the temporary lifting of the freeze or the proper information regarding the third
party or parties who is to receive your credit report (e.g. Sears). We cannot complete your request without all of the
foregoing information. Incomplete requests will be returned.
Note: It is recommended that you temporarily lift the security freeze for a specific period of time rather than for a
specific party or parties, particularly if you are applying for a mortgage, credit card or automobile financing.
Temporarily lifting the freeze for a specific party may delay the credit application and approval process.
Upon receipt of your request, we will provide you with confirmation that your request to lift the security freeze for a
specific period of time has been processed, or, if you request that we lift the freeze for a specific party or parties, we
will issue to you a one-time use four digit PIN(s) for you to provide to that party or parties that will enable same to
access your credit file. It is possible that the use of the PIN(s) will delay the application and approval process.
Therefore, temporarily lifting the freeze for a specific period of time will provide you greater flexibility.
There is no charge to place a security freeze on your Equifax credit file. The charge to temporarily lift the security
freeze for a specific period of time is $5.00. The charge to temporarily lift the security freeze for a specific party or
parties is $5.00. The charge to permanently remove the security freeze from your Equifax credit file is $5.00.
Please include payment by check or major credit card for the appropriate fees. For VISA, MasterCard, Discover or
American Express payment, please include your name as it appears on the card, the card number and the expiration
date.

defaria

Depends on what your skill is - handwriting or technology....

If you have a certified check from a major bank for $X you can easily call up the bank and verify it. If the check is fake this would immediately flush it out. That said, safeguarding this when the procedure is simple and definitive is STUPID! And if my potential dealer wish to expose their stupidity I'll gladly go somewhere else - YMMV.

No, if the business has an unrealistic and stupid business practice then I, for one, will not go along with it. You might but that just encourages stupidity. Again, verifying a certified check should be sufficient. Not accepting a personal check I can understand - many businesses do this. But to turn somebody down who has verified, essentially cash is a foolish business practice.

It's hardly a 90 second app and it hardly has no other impact. The credit check (or at least a enough of them) can cause you harm, especially if you have other large purchases happening soon. My credit score is very high so I have credit points to burn but still, it's not 90 seconds, is totally unnecessary, and tells me right off the bat that my dealer doesn't trust me. All very BAD business practices and worthy of me going elsewhere. Luckily for me Broadwalk Chevy had no problems with my checks.

carsangelop

Bought our GS cash with a personal check It was about 830PM Dealer had not way to check funds
He said he wasnt worried about it he said the dealer had some sort of insurance to protect
themselves
Also every time I bought company trucks I always paid cash with a company check never had to do a credit app.

Vetteram

Found a 2014 z51 on line at a dealer an hour away from my house, went to see the car, wrote a personal check and drove home. In watching my accounts the dealer did not deposit the check for two weeks. No credit apps, don't even remember them asking for ID. They did require proof of insurance.

0Jason.ServiceSpecialist

We do a credit check on every purchase unless it is paid with a wire transfer. There is a lot of fraud going around and it is to protect ourselves. Plus we have to verify we are selling the car to the correct person and not stolen identity. I've had people refuse to do it and I did not sell them a car. With laws and the government, we don't mess around.

Kent1999

The way I look at it is that it's a one-off business transaction, not a marriage. If I'm getting the car I want at the price I want, and the total inconvenience to me is a quickie credit app that will *never* be fulfilled, I'm good to go -- don't really care at that point what the dealer's 'dumb' practices are, as I never have to see him again after I leave with the car if I so choose. I have more than enough margin in my score to not worry about the semi-annual unnecessary inquiry if it affords me some convenience. If it's worth your trouble to vet all the customer-facing practices of each dealer and starting over at a different dealer if you find something dumb, that of course is your choice. Not worth the time to me for minor stuff like 1 extra credit inquiry.

Again, if a single inquiry is going to scuttle your near-future purchases, you may be on the verge of over-leveraging yourself (on average, a hard inquiry causes 2-3 pt hit if you have good credit -- it has a bigger impact if your credit is mediocre or poor). Perhaps you are saying that you make automobile or other major purchases requiring credit apps on a semi-monthly basis? If so, then you are absolutely correct, and you need to avoid hard credit checks as much as possible.

"doesn't trust" you?? Of course they don't. It's a business, not a frat. If they shoved a blank purchase order in front of you, and said 'just sign -- trust us to fill it in later', would you 'trust' them to do it? If not, wouldn't it be a sign that you don't trust them, and thus bad business practice? Of course not -- that would be ridiculous.

Unfortunately, for me, the days of doing deals based on dealership trust a.k.a., smile/handshake deals, ended decades ago -- everything's in writing now, or it doesn't exist. No trust expected.

defaria

And my choice was already described. I "vet" every business and person for that matter, that I encounter and when they start acting odd, doing things for unknown or unreasonable reasons I start to wonder. Perhaps you don't but I do.

I'm not in that situation - but others might be. Have you ever heard the phrase "it's about the principle"? Maybe not...

Yeah, and I'm supposed to blindly trust them should I drop my car off for an oil change. Face it - business relations, contract, etc. are all degrees of trust. Actually so are personal relationships when you really think about it.

Now you're making my case! Both sides, to some degree, must trust the other as the negotiations proceed from offer to delivery (and sometimes beyond).

But I do trust them! Within reason. Just as they trust me - within reason. But when it starts heading towards the unreasonable or at the very least towards the odd, I'm not sure about you but I start thinking "Hey perhaps I don't trust these people as much as I used to". Look a certified check should be enough. If you need additional stuff I start saying WTF!

YMMV