Credit Application but paying cash and using own credit union

FuszNissan · 12-29-2010, 03:48 PM

I can't control it my man. Believe me it's a waste of time for everybody.

m4a1mustang · 12-29-2010, 03:49 PM

Quote:

Originally Posted by shadoquad

That sounds like a complete and total f*cking waste. How would a consumer not already know that going in or expect anything different? I'm not b*tching at you, buddy. Just seems like a waste of trees and ink.

It's America. Consumer protection laws assume the consumer is dumber than a bag of rocks.

And, in America, the average consumer is dumber than a f***ing bag of rocks.

shadoquad · 12-29-2010, 03:51 PM

Quote:

Originally Posted by FuszNissan

I can't control it my man. Believe me it's a waste of time for everybody.

Oh, I know. A salesman doesn't want to throw a ton of papers at a consumer and spend an hour or so watching them sign. It makes the customer grumpier and takes away from the salesman's time with other customers. So, it doesn't benefit either, except that it legally protects both

Quote:

Originally Posted by m4a1mustang

It's America. Consumer protection laws assume the consumer is dumber than a bag of rocks.

And, in America, the average consumer is dumber than a f***ing bag of rocks.

FuszNissan · 12-29-2010, 03:58 PM

i just hope buying a car doesn't turn into the paperwork when you buy a house.

I think I signed my name 100 times.

Zilverz · 12-30-2010, 10:23 AM

Sorry im not fully grasping... Are you saying everyone has their credit ran even if they are paying cash?

FuszNissan · 12-30-2010, 12:59 PM

Yes, it will soon happen soon......I don't make the rules.

shadoquad · 12-30-2010, 01:24 PM

Quote:

Originally Posted by FuszNissan

Yes, it will soon happen soon......I don't make the rules.

but I am bringing sexy back --- YEAH

Zilverz · 12-30-2010, 09:26 PM

Quote:

Originally Posted by FuszNissan

Yes, it will soon happen soon......I don't make the rules.

So what happens if you dont run someones credit? The sale is invalid? Fine? I see this as a huge negative for the dealerships.. A lot of potential sales are going to walk in sheer disbelief

chops · 12-30-2010, 10:19 PM

as far as i know, the dealership is obligated by law to run your credit regardless if you've payed for your car in cash, check, or any other financing. my family has purchased cars with a check many times, and they've always had their credit pulled.

when i purchased my z i went through an external credit union as the credit union was a percent lower than the best rate nissan financial could offer me and it was explained to me that they needed to run my credit as well

Kenny · 12-31-2010, 06:26 AM

This thread has certainly taken on a life of it's own. To update some of you folks who chimed in, I did go back to the same dealership and signed the credit application. Even though I had zero intention of financing through Nissan or any of their preferred third parties, it's required. It's kinda like applying for a job, some workplaces run credit checks on potential employees.

The reason as it was explained to me and I'm not certain how true it is, the dealership is just making sure the money that I'm paying with isn't funny. They want to make sure I'm not a terrorist or laundering money for drug cartels. Because let's just say I have $50,000 in outstanding credit card debt or I just filed for bankruptcy; wouldn't it be fishy if I suddenly showed up at a dealership with an envelope stuffed with $34k? Perhaps I'm oversimplifying it and someone correct me if I'm wrong.

Ultimately I got what I wanted, my new Z. I'm definitely keeping a closer eye on my credit score on a monthly basis.

m4a1mustang · 12-31-2010, 09:18 AM

New Z

FuszNissan · 12-31-2010, 11:40 AM

It's more for Identity Theft , it's to protect the consumer.

Red__Zed · 01-03-2011, 08:57 AM

Quote:

Originally Posted by kenny

This thread has certainly taken on a life of it's own. To update some of you folks who chimed in, I did go back to the same dealership and signed the credit application. Even though I had zero intention of financing through Nissan or any of their preferred third parties, it's required. It's kinda like applying for a job, some workplaces run credit checks on potential employees.

The reason as it was explained to me and I'm not certain how true it is, the dealership is just making sure the money that I'm paying with isn't funny. They want to make sure I'm not a terrorist or laundering money for drug cartels. Because let's just say I have $50,000 in outstanding credit card debt or I just filed for bankruptcy; wouldn't it be fishy if I suddenly showed up at a dealership with an envelope stuffed with $34k? Perhaps I'm oversimplifying it and someone correct me if I'm wrong.

Ultimately I got what I wanted, my new Z. I'm definitely keeping a closer eye on my credit score on a monthly basis.

I understand the reasoning, but I managed to walk out with my Z without having my credit run. I'm kind of curious as to why they did not require it (though they did request that I let them)

odie99 · 01-03-2011, 09:30 AM

They weren't going to run our credit because we told them we already had a decent rate. We let them run it anyway to see if we could get a better rate (we did). As far as your credit score, if there are multiple inquiries for an auto loan in a two week period it counts as one inquiry. Same with home loans.

kenchan · 01-03-2011, 02:10 PM

Quote:

Originally Posted by detroadster

It's quite simple actually. The dealer gets a kickback from the lender. So, it's in the dealer's best interest to get you to finance through one of the banks they deal with.

this.

12-29-2010, 03:48 PM	#16 (permalink)
FuszNissan A True Z Fanatic Join Date: May 2009 Location: St. Louis Posts: 14,275 Drives: Pure Sex Rep Power: 542	I can't control it my man. Believe me it's a waste of time for everybody. __________________ Mods: Too Many to list! LouFuszNissan ZDAYZ 2012

12-29-2010, 03:58 PM	#19 (permalink)
FuszNissan A True Z Fanatic Join Date: May 2009 Location: St. Louis Posts: 14,275 Drives: Pure Sex Rep Power: 542	i just hope buying a car doesn't turn into the paperwork when you buy a house. I think I signed my name 100 times. __________________ Mods: Too Many to list! LouFuszNissan ZDAYZ 2012

12-30-2010, 12:59 PM	#21 (permalink)
FuszNissan A True Z Fanatic Join Date: May 2009 Location: St. Louis Posts: 14,275 Drives: Pure Sex Rep Power: 542	Yes, it will soon happen soon......I don't make the rules. __________________ Mods: Too Many to list! LouFuszNissan ZDAYZ 2012

12-31-2010, 06:26 AM	#25 (permalink)
Kenny Enthusiast Member Join Date: Nov 2010 Location: Los Angeles, CA Posts: 330 Drives: 2011 Nissan 370Z Rep Power: 14	This thread has certainly taken on a life of it's own. To update some of you folks who chimed in, I did go back to the same dealership and signed the credit application. Even though I had zero intention of financing through Nissan or any of their preferred third parties, it's required. It's kinda like applying for a job, some workplaces run credit checks on potential employees. The reason as it was explained to me and I'm not certain how true it is, the dealership is just making sure the money that I'm paying with isn't funny. They want to make sure I'm not a terrorist or laundering money for drug cartels. Because let's just say I have $50,000 in outstanding credit card debt or I just filed for bankruptcy; wouldn't it be fishy if I suddenly showed up at a dealership with an envelope stuffed with $34k? Perhaps I'm oversimplifying it and someone correct me if I'm wrong. Ultimately I got what I wanted, my new Z. I'm definitely keeping a closer eye on my credit score on a monthly basis. __________________

12-31-2010, 09:18 AM	#26 (permalink)
m4a1mustang A True Z Fanatic Join Date: Feb 2009 Location: Northern VA Posts: 55,385 Drives: on two wheels Rep Power: 6962	New Z __________________ - Steve Zs & Coffee - Saturdays at 10AM in Fairfax, VA and Columbia, MD (Click the banner!) LIKE us on Facebook!

12-30-2010, 10:23 AM	#20 (permalink)
Zilverz Base Member Join Date: Aug 2010 Location: Florida Posts: 32 Drives: 14 Tour/Sport/Nav/AT Rep Power: 14	Sorry im not fully grasping... Are you saying everyone has their credit ran even if they are paying cash?

12-30-2010, 10:19 PM	#24 (permalink)
chops A True Z Fanatic Join Date: Oct 2010 Location: NA Posts: 1,732 Drives: NA Rep Power: 21	as far as i know, the dealership is obligated by law to run your credit regardless if you've payed for your car in cash, check, or any other financing. my family has purchased cars with a check many times, and they've always had their credit pulled. when i purchased my z i went through an external credit union as the credit union was a percent lower than the best rate nissan financial could offer me and it was explained to me that they needed to run my credit as well

12-31-2010, 11:40 AM	#27 (permalink)
FuszNissan A True Z Fanatic Join Date: May 2009 Location: St. Louis Posts: 14,275 Drives: Pure Sex Rep Power: 542	It's more for Identity Theft , it's to protect the consumer. __________________ Mods: Too Many to list! LouFuszNissan ZDAYZ 2012

01-03-2011, 09:30 AM	#29 (permalink)
odie99 Base Member Join Date: Dec 2010 Location: Earth Posts: 89 Drives: flip flops Rep Power: 14	They weren't going to run our credit because we told them we already had a decent rate. We let them run it anyway to see if we could get a better rate (we did). As far as your credit score, if there are multiple inquiries for an auto loan in a two week period it counts as one inquiry. Same with home loans.

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