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My question is How can I verify my Paypal account / Get a Discover Card? Thanks in advance for any comment. Another quick question... Is this something I can do easily? And is it a good idea?? Thanks.. |
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I would like to know the answer too. Anyone here know what is the right answer to your question. I'll do some Googling and get back to you if I discover an anything. You should email the people at Discover Card as they probably could give you an answer..
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I would also call around and talk to the credit manager and see which credit reporting agency they use before stepping into them..
Is there some reason why you aren't applying at your local credit union for pre-approval? That would be the best way to go... |
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Agreed, but only so you walk in there with options. Otherwise many of the incentives you can get from captive financing are superior to what a CU can offer...
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What if they ask why the accounts frozen? do I act confused and say try pulling TU or should I just be straight with the salesmen?.
I'm going to see what kind of rates they give me first. The loan is very small so a 1-2% variance from my local 3.99% CU rate won't make a huge difference (especially to save another inquiry). Really? what kind of benefits do they offer over CU financing??. This post has been edited by. Creditcardnoob. : 11 January 2010 - 10:45 AM.. |
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Even if you get them to agree.
VERBALLY. ...they probably won't put it in writing. Even if they do put it in writing...they are not going to pay you anything if a mistake happens. FREEZE. EXPERIAN. ...you lose nothing. The other 2 you can get "B".. |
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The obvious ones. Nobody aside from captive financing is ever going to offer 0% APR on an auto loan. Likewise for any offer that's well below prime rate..
This post has been edited by. Encoder. : 11 January 2010 - 01:19 PM.. |
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If you get financing from your.
BANK or CREDIT UNION. ...the dealer will still pull. They think they must prove who you are by your credit report. Like the credit report will change who you are.. |
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Most often you are better off taking the low APR CU financing instead of the 0% factory financing. Then you can take the cash back option...
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I work at a Ford dealership and we do not pull credit unless someone wants us to and signs the credit app. I have heard of others on here having dealerships insist that they need a credit app. for a cash deal or when the customer has already obtained their own financing...They should get up and run, not walk out of that dealership. The only thing we are required to collect on those types of deals is a valid DL and proof of insurance!.
As far as freezing EX and EQ, you may freeze whatever you wish and tell them that they are frozen...They can pull whichever bureau you want them to, but if you want them to obtain financing for you, you may shoot yourself in the foot. My reasoning is that let's say the finance mngr. has a great relationship with Chase Auto Finance and they have been giving him rates around 4%-5%, he pulls TU, score looks great so he submits it to them, but they only pull EQ. You will have to call Equifax from the dealership and unfreeze it or go with Citizens Auto at 8%.. Over the life of the loan, you'll pay a ton more interest.. Is there a special reason you only want TU pulled?.. |
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SOME SAY IT IS REQUIRED BY THE PATRIOT ACT.
(FALSE). SOME SAY IT PROVES WHO YOU ARE. This post has been edited by. GEORGE. : 11 January 2010 - 03:22 PM.. |
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Well I prefer TU because it's my highest scoring credit report (pulled today, it's now 742), and EQ isn't bad but it hasn't been B*'d yet so there are 12 inquiries (score is 704 or 714 I think). The only one I don't *want* them to pull is Experian, which still has a collection on it that I disputed...the score is 643 and has 15 inquiries..
So like George said, I will probably freeze EX, but I don't know how that plays out during disputes. What do you think will happen????.. |
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Why not go with a CUDL and not allow the dealer to shop you around?.
Why fear inquires? isn't a ride you need/want worth it?.. |
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What's a CUDL???.
I froze EX, and plan to B* everything that comes to EQ and TU. I dont fear them, I just fear too much of them.. |
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I've bought several cars with checks, wires etc and never had to have them pull a credit report at any place. I would have walked out. No idea why some places "require" it...
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When I worked for a Toyoa dealership we took the persons Beacon score (your highest score of the 3). If you have 2 CRA frozen, the dealer wont really care. The dealer is not loaning you money. They farm you out to lenders wanting to take deals..
A dealer is in the business to move vehicles. No financing, no deal....... Thats not want a dealer wants.. Im not saying trust them 100%, just dont be worried about your frozen scores. If they ask, just say, "TU is my beacon and I dont want you pulling anyone else.". Also, the FTC does have opinions on what constitutes a PP from an auto dealership. I have spoke to a few people who have got the dealership to pay up non-pp violations. The problem is that dealerships are so far from understanding what a PP is that they will deny everything.......... |
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Lesson learned, and I am NOT a newbie..
I just went through this and DID NOT freeze my EQ and EX reports, the outcome, 22 Inq's!. The salesperson CANNOT dictate WHO will be pulled neither can the finance manager!!!!!!!!!!!. Depending in what area you live in depends on which CRA is the dominant. I live in La and NO ONE uses TU ALL of them use EQ some use EX.. Freezing them will stop unwanted INQ's but it will also raise questions by the banks and may make it harder for you to get financing.. And BTW, once you sign that app it is OPEN SEASON! By signing the app you are giving them PP to pull not only at the dealership but by ANY and how ever many banks they send your app to.. This post has been edited by. Gdtobefree. : 12 January 2010 - 03:51 AM.. |
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I guess driving a beater is better than having a couple hard inquiries. what is funny is the people who bitch and moan about how we should ignore FICO but then scream about the pain they think inquiries cause...
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"COMPANY POLICY".
The dealer nextdoor will happy to sell you a car. I don't know about all cities...but. Here. There are like 50 dealers in less then a 20 mile drive (maybe more). THE. HARD. IS MORE IMPORTANT THAN A SALE. ...more power to the dealer. This post has been edited by. GEORGE. : 12 January 2010 - 07:22 PM.. |
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Keep in mind that the freeze will slow down the process because people will need your permission to pull your credit. Keep in mind that each lender will pull a different cb depending on the area that customer lives in. In addition, if you have higher scores on one cb verses another, I would have that lender pull that cb to get a better rate. More over, if there is more information on one cb verses another, a credit buyer can pull all three cb..
As a finance director for a dealership group, it not our policy to let a customer walk out with a car with just a cdl and proof of insurance. Even if the customer says that they are pre approved, we need to be able to have a cashable contract in the event that the customer's financing doesn't go thru. If you don't, the dealership is obligated to the financing that customer signs. In california, there's a 10 day rule with a delivery. In the event that the financing isn't approved at the rate written, the dealership must notify the customer in writting before the 10 days is due, if not, the dealership is responsible to finance the contract. It's important to maintain good cash flow with the business. If they don't pay off the car to the flooring company, the dealership is out of trust with the bank.. There are many options the dealerships have that customers may not have. Often times, we can match, or better the rates that customer's may, or may not have. In addition, we may have relationships with local credit unions that give us special rates and/or sales with weekend rates to sign up new customers.. It's best to sit down with the Finance Manager and/or Director where you looking to buy to see what options are best for you to may the best choice... |
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Personally I would run if it was a FORD dealership!.
You can freeze all of them if you would like. If they pull something that is frozen you can always get them a PIN from the CRA. I have personally seen where someone applied at a Dodge dealership and later on discovered they had their report pulled from 20+ different finance places.. The last time I bought a new car (Lexus Dealer), I already had financing in place from USAA. I told the Lexus (Toyota) finance dept, they could pull ONE TIME for factory financing. I also told them that I would pull my own report to make sure of this, as I was not buying the car until the following week. They lived up to their word and pulled once, but still went with USAA. 2 pulls for a new car was acceptable for me.. AND the Lexus is STILL a sweet car... |
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Interesting,.
I once bought a Honda Accord (2005) with a personal check (around $25,000). Would you still pull a report? I did not really keep up with credit pulls then.. Often, you can obtain comparable or better financing through local CU or bank yourself, rather than the factory financing. This way you can also take advantage of any factory incentives at the time (make sure to research these before buying, as well as knowing the INVOICE price).. IME it is better to avoid the Finance Manager (unless you have bad credit, or truly have to have the car right now). Do your financing beforehand and go prepared, both financially as well as knowing what a "good deal" is on the car you are buying (involves knowing the invoice pricing). I once had a young salesman thinking I was going to pay "STICKER" when I bought my Tundra. I hope that he found some other fools to buy at sticker, if he ate that month.. Besides the "Finance Manager" hits you up for that extended warranty, and sometimes that paint and interior protection BS they try to peddle... |
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I want to know how the.
CREDIT REPORT. Does anything for the payment. (like it prevents it from bouncing). I don't care if it is "COMPANY POLICY". Why is it company policy when you are not involved in the financing???. If you. "FEAR". The payment will. BOUNCE. ...hold the car/truck. Or just tell the customer. "WE DON'T NEED YOUR BUSINESS BECAUSE WE HAVE A. FEAR. YOUR CASH WILL BOUNCE". This post has been edited by. GEORGE. : 21 January 2010 - 05:45 PM.. |
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IT WAS RELATED....
This post has been edited by. GEORGE. : 21 January 2010 - 05:54 PM.. |
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To answer your question, yes, we will pull to see one's credit even if they are just writting a check. We want to see that the customer is worthy of the check they are writting. We've seen issues where customer's have written bad checks to other's, as a result, we will request that the customer goes to their bank to get certified funds. However, if the customer is a prior customer and we have a relationship, then we won't because we have a good relationship with them. When a customer comes in pre approved, there have been times where the customer is mis quoted, rates, terms or, the bank approves them differently than what they were quoted. In addition, there were issues in the past where a Cap One draft wouldn't be accepted because there were conditions attached to the check.
Often, we would see a draft not honored by them. As a result, we stopped taking them. On the otherhand, USAA has a simple process where you call, get an authorization, fax the docs and the customer signs the draft. There are often things that have to be taken in on a case by case basis. Customer's may have a credit union that is a member of CUDL, which allows us to sent the papers to the credit union rather than the customer having to go into the dealership, sign a contract, go to the credit union, sign their loan docs, and bring a check back. It's up to the dealership to decide on what they feel is best. However, you want to make sure there are no issues with the financing once the deal is finalized. It's always good to have opions to you so you can feel good about making the best choice for yourself... |
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I've written a check (PIF) for two vehicles, and my credit was never pulled (2005 Honda Accord and 2006 Toyota Tundra). All they did was either cash or deposit the check. If I knew they were going to pull my credit to take a check, or would buy somewhere else. They can call bank and verify or send someone to the branch to cash it, or get certified check...
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I did just this when I bought my last new car and it worked out just fine for me...
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I think it's a ridiculous idea to pull a credit report to see if a check will clear and I'd definitely not buy from a dealer that wanted to pull my credit for a cash/check sale. Totally unnecessary IMO...
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Is the credit report.
More important. Than the sale???. Because you won't get either. If you try to pull. This post has been edited by. GEORGE. : 24 January 2010 - 12:35 PM.. |
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Then hit the road jack and dont come back would be my words. your sale isnt that important..
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+1.
I just bought an Infiniti FX35 a few days ago and they told me the exact same thing - a personal check will require a credit check but a cashiers (bank) check will not. So I said hell no to the pull and drove to the bank and got the official check!!.. |
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Just checking....
They did for me (twice) and they got paid in full by. AMEX. Others have also.... This post has been edited by. GEORGE. : 24 January 2010 - 01:23 PM.. |
