Wanna file a complaint on a Car dealer who pulled my credit history , we agree on the price?
I went to the car dealer, after I saw the car I liked , and they appraised my car , we agreed on a price difference between my trade in and the car he is selling me , I filed a credit application , they took my information and sent it to 15 different banks and they all did a hard inquiry for my credit report , and then the next day he says that he wanted more money for the vehicle and asked for $3000 more .
So I refused to take the deal , since they changed their word , but they have already pulled out my credit report several times , which hurts my credit score .
What shall I do to report them ? I feel like they fooled me , why would they send my credit application to that many banks and then change their word afterwards ? I wanna get them reported and get the inquiries off my credit report
- SPIFIMAN1Lv 77 years agoFavorite Answer
Auto finance is what I do for a living and you need to calm down.
First of all the F.I.C.O. system knows when people are looking for either a vehicle or home loan and all applications made within a 30-days period are lumped together. They all show but your credit only takes one hit.
Second report them for what? You applied for the loan all they did was try to get you approved which you gave them permission to do. So what exactly is it your going to report the dealer for doing? The price is not even relevant, whatever was told to you was based on a cash price and subject to change based on your credit. Most all special finance lenders charged dealers for taking their high risk deals. This amount is passed on to the customer as much as possible. Nothing illegal just passing on their cost of doing business.
The inquires are true and accurate information so they will show for 24-months. The effect on your credit is only a couple of points for the first 12-months so don't worry.
Good luck.Source(s): Finance manager for a car dealer for over 12-years.
- mccoybluesLv 77 years ago
Good luck. They did absolutely nothing improper. You were buying a car, you filled out the credit application which authorized them to pull the report.
If you buy a car those inquiries will go away. The credit agencies are smart enough to know that when people are car shopping that multiple credit reports will get pulled. As long as a contract is signed they understand the credit inquiries were legitimate and they will go away and not have any long term affect on your credit score.
- StpaulguyLv 77 years ago
The second you filled out the credit application you agreed to let them check your credit. They are perfectly within their rights to check your credit if you're asking for a loan. And they can shop to loan to as many lenders as they want. They did nothing illegal or wrong.
You cannot get the credit inquires off your report since you approved the credit check. If you didn't take out any loans, they don't affect your credit after a few weeks.
You have no complaint coming on the credit issue..
As to changing the price. Did you have it in writing? If so, report them to your state's attorney general office of consumer affairs.
- pmc123Lv 67 years ago
If you asked them to finance the vehicle, you gave them the right to obtain your credit history. You might have the right to contest them raising the price of the car - provided you could obtain your own financing - but otherwise you have no claim. The fact that they inquired at multiple banks could have been in your favor in getting a better rate. Next time, you might want to arrange your own financing to prevent a recurrence.
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- Poisson FishLv 67 years ago
Did you have the agreement in writing? Then you should be able to buy the car for the price agreed upon. Did you forget about that part? Then there was no agreement and you don't have anything you can do.
As for the credit history pull, there is nothing you can do about it. It shouldn't affect your credit score, and won't change anyone's decision to give you credit.
- TiggyWiggyLv 77 years ago
I seriously doubt that they sent it to that many banks. It was probably not more than a couple. Anyway, the credit inquiries are "soft" inquiries and a number of such inquiries in a short period of time only count as one inquiry, which only affects your credit by a point or two. You need not worry so much about this.
- Mad JackLv 77 years ago
Nothing you can do. Read the fine print on the credit application. I bet it says that your signature gives them the right to check your credit. Just what did you think you were signing when you signed this CREDIT APPLICATION!