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

[Decible]

My experiences in the past was that even bank cannot verify their own cashier checks right away if it's issued out of state.

Definitely there will be a hold on cashier check from bank because i just sold my Corvette with 7 working days hold!

No the issuing branch can verify on the spot. All official checks are logged in a book same day. Depending on the amount the branch manager and an area VP sign the check.

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[Tb8983]

What dealer?

The Findley chevy dealership in bullhead city

 

[hellohello123]

Many dealers have been caught, taking out loans in buyers names that pay cash for the vehicle. Tell them to pound sand, a bank check/cash. they have no need for a credit check. Ask them if they want to sell the car or look at it. and be ready to walk.

In my country if you did that and were caught, youd lose your job, license and be up for criminal charges, possibly jail time

 

[Rapid Red]

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?

No one in picking on you, take a walk in realville, notice all the fraud buzzing around.

You got the cash, write a check, of course they will want a cashiers check, they will call the bank that issued it. That's the way it went for me.

You give them cash for the car that's a fucking lot 100s to swipe a pin over to make sure the money is real, that's a joke but you can get the picture

 

[Sixtus]

Sounds a bit fishy to me. When I bought my 2021 Mach 1 in New York I told dealer I'm paying cash no issues at all. Sticker, Title, Dealer Fee, Tax showed up with Bank check ...deal done

I did exactly that 3 weeks ago

 

[Ironpeddler]

I live in NJ and bought my Mustang in Long Island, NY. Last January….and paid cash. I gave them a deposit on my credit card in December and wired the balance to them via my bank in January. They never asked for any financials during the process.

 

[Ginger1]

Nonsense. And I'd add that if they're willing to feed you that line of horsecrap they will be running more than one application - they're probably working with half a dozen finance companies and you will get multiple inquiries on your credit. They're supposed to count as only one inquiry if they're all done at the same time but it is totally unnecessary in your case.

WTF does that even mean "confirm you're the one spending the money?" Even if you believe that - which I don't for a minute - assuming you're registering the car in your name then you're the one spending the money as far as they need to know.

Tell them you want two grand off the car for the lost points on your credit score.

 

[Bullitt0819]

When I bought my '08 Bullitt the dealer did the same--credit check, loan app, etc.--but when I bought my '19 Bullitt I handed the dealer finance guy a personal check and he didn't even ask for ID. Both dealers in California.

 

[RedSangAust]

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?

Cash is King..End of story. Happy Travels.

 

[Bit_the_Bullitt]

This does sound like a kickback to the sales guy and yes, to get you into the office of the worst person in the dealership, the "financing manager." They want a way to try to sell you on extended warranties etc.

We recently traded our used truck for a newer used truck and upon closer inspection we even noticed that the rate would be higher if we picked their warranties and stuff, just dirty business.
Best decision was wife was on the phone with the finance guy, asked to call me in, I called into a 3-way phone call.
Finance guy tried to spin his extended warranty BS, I patiently let him finish his pitch and then I said "thanks we'll pass."

Cash is king. Yea they won't make as much in kickbacks, but don't let them run a report and be ready to walk away. There should be another one ready to take you up on the deal.

 

[Balr14]

There is always somebody I have to talk to at the dealership when I sign papers, who will try to sell me an extended warranty. I just tell them sure, I will be driving 2500 miles a year, so what have you got for 4 years and 10k miles? That pretty much ends the discussion.

 

[Sig556]

I think this is B/S all you have to do is say "Do you want to sell the car or not"? No one argues with cash.

 

[oguruma]

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.

 

[Bit_the_Bullitt]

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.

Love seeing consumer power giving you the ability to not get bullied into BS deals. Well done and congrats!!

 

[PhillyMike]

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.

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