Buying new car cash: Dealer wants a credit check/financing application?

[HoosierDaddy]

Pics!

No pics, need video. Pic won't show which direction the piss was going on the rope.

But @oguruma didn't say if the finance guy followed his instructions, so may not be videos or pics.

Sponsored

 

[Airport]

I ended up telling them to piss up a rope when the finance guy was insistent on running a credit application.

I ended up buying one from a different dealer for about $400 less. The topic of a credit application never came up.

I’m proud of you! Glad you let them know that their stupid “credit check” demands lost them a sale. Stealerships need to learn that customers are more knowledgeable than they were in the 70’s.
I have purchased several vehicles in the past few years without a credit check. However, I only go to dealerships that have transparent policies and practices.

 

[Steelawin]

Hey there! It's interesting that the dealer wants a credit check/financing application even if you're planning to buy the new car with cash. It might be worth asking them about their specific requirements and why they need it in this case.

By the way, if you're looking for a Mortgage Broker in Nuneaton, I'd recommend checking out their services. They could potentially provide some useful insights or guidance on financial matters, including navigating through credit checks and financing options. Good luck with your car purchase and any future home buying endeavors!

 

[emcmtony]

I read through this whole thread and noone really hit on what really should have been done here. Dealers get money for sold loans on cars. They WANT you to finance the car, they get the money for the sale AND the financing so they make more on the car. You never go into any vehicle negotiation saying you are paying CASH. That may make you feel like a tough guy and in control of the situation but you are NOT. Go in their in some shit looking clothes, and really act concerned about payments and the like for the whole negotiation. Stress the top line cost in your negotiation. If you have no debt, let them run a damn credit check....it will not hurt you anyway if you have one or two inquiries. When you agree to a price/payment. Tell them you still want the vehicle but are going to pay cash for it. You will get the very best price possible that way. Yes, this worked better before Covid because they were sitting on inventory, but that is coming back fairly steadily now and the sanity will return to car buying for the buyer.

 

[Ranebowcyxx]

I'm negotiating the purchase of a new 2023 GT. The dealer is in a neighboring state.

I told the dealer I'd be paying cash. He said he'd need to do a financing application. I asked why I'd need to do one if I am paying the entire price of the vehicle with cash.

His response was that he needed one to "prove that I'm the one spending the money." This sounds like BS to me....

How the hell would a financing application prove that "I'm the one spending the money"? Wouldn't the check from me be proof of that?

Is this just a ploy to talk to me into f&cking me with some dealer financing?

If it is dollar bills they required to verify ID. If it is money order, bank check cashiers check let net ne just tell you stories about the fraud those payment devices

 

[HoosierDaddy]

I pay cash other than a few cases where there were extra cash incentives for financing that I could pay off the next bank day without penalty. And the one time a dealer on December 29th said yes to my joke about putting the car on a CC. They did end up requiring some token cash I believe because the bank refused 100% to avoid double warranty/free return coverage, etc. the card offered if 100%. So, effectively I got a 4x to 5x day no interest loan.

Some states must have better law enforcement because the last 2 or 3 (maybe more but don't recall) dealer just took a personal check as full payment. Some even jokingly said they'd visit me in the slammer if it bounced. LoL

For all those dealers I was a first-time customer; I don't have the brand/dealer loyalty gene. Usually, a decade or more before rotation brings me back to a brand.

Sponsored