Started By
Message
re: car dealer ripoff advice needed
Posted on 8/18/14 at 2:25 pm to deeprig9
Posted on 8/18/14 at 2:25 pm to deeprig9
quote:
The inquiry shouldn't affect your credit score in any meaningful way, unless your score was already borderline
Which mean no damages, so no real recourse (at law anyway). Car salesmen and their ilk are the worst. Dregs on society.
1
Posted on 8/18/14 at 2:25 pm to AUTiger45
Walk away -- don't spend that kind of money with people who treat you like that. Be patient -- they will call you. They are counting on you wanting the vehicle, so you cave. Just act like you DGAS and let them come to you
Posted on 8/19/14 at 9:14 am to Alahunter
quote:
If you're gonna do a loan for a vehicle, get with your bank or credit union and then negotiate a drive off price with the dealer.
I wouldnt be able to save as much as their 0.9% will save me over 60 months.
Posted on 8/19/14 at 9:28 am to NYCAuburn
I usually seek financing from my bank or credit union (we have both) before going to the dealer.
The one time I financed through a dealer, I got 0% financing, so I would have been stupid not to take that deal up.
The one time I financed through a dealer, I got 0% financing, so I would have been stupid not to take that deal up.
Posted on 8/19/14 at 10:06 am to NEMizzou
quote:What the op is not telling you is he has bad credit. The bank is charging the dealer a fee to finance him and they are trying to pass the fee back to the op
unless your score was already borderline
Posted on 8/19/14 at 10:22 am to Rolltide10
wrong gumpster. keep your pathetic bullshite off my thread.
Posted on 8/19/14 at 10:39 am to AUTiger45
quote:I'm not trying to insult you. Just guessing why the figures would change. It's the only reason that makes sense to me. By the way a dealer is not allowed to pass that fee on to you. So if thats the case you have other ammo to fight them with
wrong gumpster. keep your pathetic bullshite off my thread
Posted on 8/19/14 at 12:57 pm to Rolltide10
except I had already addressed my creditworthiness...so either you cant read or were trying to call me a liar. furthermore people with poor credit dont usually keep up with it and damn sure arent the people you find nitpicking over a couple points caused by a hard inquiry which I feel was filed fraudulently. either way, in light of this evidence I find your opinion useless. if you cant fathom a reason a shady dealer would do that there may be no hope for you. it would be as simple as he didnt like the price I offered but couldnt get me to budge and wanted to get me invested the only way he could to change the dynamic of the deal.
Posted on 8/19/14 at 3:17 pm to AUTiger45
quote:then keep shopping man..good luck
in light of this evidence I find your opinion useless
Posted on 8/19/14 at 3:20 pm to The Spleen
Social Media Campaign with both sets of numbers shown. Spread the word.
Posted on 8/22/14 at 8:15 am to novabill
just a follow up to hopefully save someone else a lot of grief. I ended up buying from Brannon Honda. got a great deal and a ridiculous trade, damn near gave me book retail! during the process of buying I learned that whatever Serra did dropped my score 35 points! needless to say it was more than a single inquiry. also learned some interesting info from the finance folks regarding Serra. seems they have been in some legal trouble on numerous occasions in the very recent past for filing fraudulent financial documents. looks like they might be in for some more.
Posted on 8/22/14 at 8:43 am to AUTiger45
sounds like you should wreck some of their cars for them messing with your credit.
Posted on 8/22/14 at 10:13 am to AUTiger45
quote:
yeah the points arent really meaningful its just the principle. doesnt seem legal to be able to do that when it does have an effect like it does.
If I understand credit scores correctly the bureaus treat multiple score checks at car dealerships within a short period of time as one inquiry. Going to more dealerships and getting your score checked shouldn't hurt you. They understand that most people shop around.
Posted on 8/22/14 at 2:10 pm to Goldrush25
That's in correct. ANY Hard pull on your credit hurts you reguard less if your shopping around. You don't shop your credit around. You shop price around until your ready. Dealers and some mortgage companies tell you that shite but it's BS. Any hard pull stays on your report for. 2 years before it falls off. If you have your shite pulled more than 2 times in 2 years, it's going to negatively affect your score.
I'm not sure what happened but the story is plausible. However, there could be a lot of things you aren't seeing or sharing. Fees and interest rates may have moved. Is the sale price of the car. ( the price before TT and L and fees. ) different on the second offer or is it just the note you were told that you would get different ?
I'm not sure what happened but the story is plausible. However, there could be a lot of things you aren't seeing or sharing. Fees and interest rates may have moved. Is the sale price of the car. ( the price before TT and L and fees. ) different on the second offer or is it just the note you were told that you would get different ?
Posted on 8/22/14 at 3:09 pm to AUTiger45
post negative reviews wherever you can online
Posted on 8/22/14 at 3:16 pm to AUTiger45
Did you contact the better business bureau and voice your concern with them?
Posted on 8/22/14 at 3:35 pm to coonass27
quote:
That's in correct. ANY Hard pull on your credit hurts you reguard less if your shopping around. You don't shop your credit around. You shop price around until your ready. Dealers and some mortgage companies tell you that shite but it's BS. Any hard pull stays on your report for. 2 years before it falls off. If you have your shite pulled more than 2 times in 2 years, it's going to negatively affect your score.
First hit is the big one, subsequent hits within a short period of time don't hurt your credit score.
For example, a dealership runs your credit to qualify you for the car, then they send your info out to two or three banks which all subsequently run your credit, it is basically scored as one inquiry. They are all hard inquiries, but the score isn't hurt by the following pulls. The one exception to that is if you have mid range to poor credit and you get pulled by a bunch of banks (like seven to eight) the bankers at the banks that pull after the first three or four will wonder why the other banks are passing on you and will sometimes say no to a loan you may have qualified for due to thinking they're not seeing something everyone else is. However, your score should not differ greatly from the second pull to the eighth.
Source: Pimpin'.
Posted on 9/5/14 at 9:43 am to Mizzeaux
ok so I checked my credit report and got the list of places they ran me, filed some written requests and waited for responses. things I know for sure: after I was approved through honda they ran me through 5 subprime lenders. of the 5, 2 of them could give me documentation of the time it was run. both were a full hour after I left the dealer. I can tell you all with certainty that subsequent attempts DO hurt your score as mine kept dropping every time a new inquiry showed up on my report! I now officially have enough documentation to bury some asses!
here's the scam. they offer you a deal in writing to get you to sign a credit app. then they take that written deal to the credit folks to run you. when youre approved they bring back a modified deal & try to pass it off. if you object & walk out they run you through subprime lenders to reduce you in hopes of you not qualifying at another dealer. then, being the one dealer you have already qualified at they end up your only option. luckily for me my score was high enough that I could spare nearly 50 points & still qualify as a preferred customer.
In summation I would advise anyone to steer clear of Serra, most especially a salesman named Forest who ironically is the epitome of a gump. Brannon took care of me and gave me a smoking deal on the car I bought and my trade as well.
here's the scam. they offer you a deal in writing to get you to sign a credit app. then they take that written deal to the credit folks to run you. when youre approved they bring back a modified deal & try to pass it off. if you object & walk out they run you through subprime lenders to reduce you in hopes of you not qualifying at another dealer. then, being the one dealer you have already qualified at they end up your only option. luckily for me my score was high enough that I could spare nearly 50 points & still qualify as a preferred customer.
In summation I would advise anyone to steer clear of Serra, most especially a salesman named Forest who ironically is the epitome of a gump. Brannon took care of me and gave me a smoking deal on the car I bought and my trade as well.
Posted on 9/5/14 at 9:59 am to AUTiger45
Send everything you've gathered to the BBB. They take shite like this seriously
Posted on 9/5/14 at 12:49 pm to AUTiger45
You are correct that Serra has been under investigation from what I've heard first hand. I used to live in the area and I'm pretty sure a few people were canned due to it. I would be weary of any car dealership being investigate by the government for falsifying financial documents (or whatever the specific reason was).
Glad you got a good deal elsewhere!
Glad you got a good deal elsewhere!
Page 2 of 3
Popular
Back to top
Follow SECRant for SEC Football News