Applies to All Model Years Your purchase experience? I have preapproval but dealer wants me to fill out a credit - Page 2

  1. Welcome to Subaru XV Crosstrek Forum – General discussion forum for the Subaru XV

    Welcome to Subaru XV Crosstrek Forum - a website dedicated to all things Subaru XV.

    You are currently viewing our forum as a guest, which gives you limited access to view most discussions and access our other features. By joining our community, at no cost, you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content and access many other special features. Registration is free, fast and simple, Join Subaru XV Crosstrek Forum today!
     
Page 2 of 2 FirstFirst 1 2
Results 11 to 18 of 18
Like Tree10Likes

Thread: Your purchase experience? I have preapproval but dealer wants me to fill out a credit

  1. #11
    Junior Member rotisserie's Avatar
    Join Date
    Feb 2019
    Posts
    13
    Quote Originally Posted by orndog View Post
    Chase can probably beat your CU as they provide special financing. That said, the dealer really wants to try to convince you to roll in some dealer cash cows like warranties with their easy financing.
    The reason they pull credit for cash deals is a separate concern. If you pay cash for a car that exceeds what the government deems feasible for you, expect the IRS to come knocking.
    Thanks for the heads up, of course they will try to sell me to their special deal with Chase. Lol I have a loan with Chase and I don't like them as a lender. I'm very pro-Credit Union all the way, these guys worked with me when I was in financial hardship (because how dare Life throw me a curveball, how dare It!). Big banks could not give less of a fly's fart.
    Last edited by rotisserie; 03-28-2019 at 12:48 AM. Reason: added statement in parentheses

  2. Remove Advertisements
    Subaru XV Forum
    Advertisements
     

  3. #12
    Junior Member rotisserie's Avatar
    Join Date
    Feb 2019
    Posts
    13
    Quote Originally Posted by JustSubn View Post
    My question to the finance individual you're dealing with would be "Why do you need to pull my credit when my financing is set up with my credit union? I'm not interested in anything else." or something along those lines and see what they say. If there is some kind of legal requirement for the credit check they will have to tell you, but if it just sounds fishy like some dealership sales nonsense I would push back and refuse. Ask if your sale is dependent on the credit check and will they lose the sale without it.
    Thanks so much, I'll add that to my arsenal.

  4. #13
    Junior Member rotisserie's Avatar
    Join Date
    Feb 2019
    Posts
    13
    Thanks for the responses, everyone. Hopefully others doing their Subaru Crosstrek research can benefit from the insights in this thread. Feeling like Meghan Trainor's "NO" song will be this week's anthem as I am picking up my Crosstrek this weekend. Or maybe even Ringo Starr's "No No Song," revised for the new car buyer, haaa

  5. Remove Advertisements
    Subaru XV Forum
    Advertisements
     

  6. #14
    Junior Member
    Join Date
    Mar 2019
    Location
    Humboldt, CA
    Posts
    3

    Same thing happened to me

    The same thing happened to me, they actually dinged my wife's credit even though we already had a approval from our own credit union. Needless to say she was not a happy camper.

    I have a preapproval from my credit union and they have my information all set up in a database where dealers just need to look up my info & my credit union’s and I can get my Crosstrek that same day. But the dealer wants me to fill out a credit application anyway and I pushed back, because I’m concerned my credit score will go down again because of the added hard pull.

    Any creditor in the meantime can’t do anything to my info because I have a freeze in place for all of my credit reports. I told them so and they backed down. They said they still want the form filled out and given to them the day my vehicle arrives. And also to bring my pre-approval letter. The dealer confirmed they’ve worked with my credit union in the past with no problems so yeah.

    What’s the deal? Is this standard for dealerships? I’m a satisfied client with my credit union and I’m ok with my rate.[/QUOTE]

  7. #15
    Junior Member rotisserie's Avatar
    Join Date
    Feb 2019
    Posts
    13
    Quote Originally Posted by jasonp64 View Post
    The same thing happened to me, they actually dinged my wife's credit even though we already had a approval from our own credit union. Needless to say she was not a happy camper.
    Hi jasonp good to hear from ya. So it sounds like even though you have credit union approval, the dealer ran her info anyway for credit-related inquiries? That’s my concern too.

    Do you feel comfortable sharing more details and the outcome of your situation, without revealing personal details of course?

    If you and wife are open to this, I highly recommend doing a credit freeze on y’all credits. Anyone wanting to do a credit check will have to run it by you first. I actually did that with my credit union on purpose, to see if the system works. When they called me because they couldn’t run my application because of the freeze, I had my permission ready for them. Rest of that talk was smooth.

    I’m sorry to hear that experience. Good thing the score can be recovered but depending on an individual’s situation, that can take time. So it’s annoying when it happens.

  8. #16
    Junior Member
    Join Date
    Sep 2015
    Location
    new york
    Posts
    2
    Never heard of that. Silly if you are approved if you like the rate. I always get a better rate through the dealer banks. I have never paid more than 1.99 for a new car in 15-20 years. My Crosstrek is 2.5 years old and the dealer rate was 1.89 through a local bank ---if you have good credit you might want to look at that option

  9. #17
    No it's not normal unless they don't believe you when you said you credit union financing. I financed thru my CU but the dealer did all the paperwork. I just told them who to call. Not a problem.

  10. #18
    Junior Member
    Join Date
    Nov 2015
    Location
    Massachusetts
    Posts
    23
    This is probably unrelated but perhaps along the same lines of what's going on.... today I did Capital One's pre-qualification application with their Auto Navigator site, no hard credit pull, and it showed me a 3.99% rate but to complete the financing I would have to fill out a credit app with the dealer who would then pull up my pre-approved rate from Capital One. I re-financed my current cars with Capital One so I'm an existing customer but that doesn't seem to make any difference.

    So this situation might be different than the topic at hand since I wasn't actually approved for a loan with this pre-qual application, but it said the dealer would have to give me all the legal mumbo jumbo and that's why I had to apply through them.

Page 2 of 2 FirstFirst 1 2

Similar Threads

  1. Dealer Experience in SW Virginia
    By Pastor passum in forum Subaru XV General Discussion Forum
    Replies: 0
    Latest Post: 04-13-2015, 01:20 AM
  2. Sorry, I did not see a towing section, but wanted to share my experience
    By Mark Fellows in forum Subaru XV General Discussion Forum
    Replies: 20
    Latest Post: 01-15-2015, 11:44 AM
  3. How do you fill your gas tank
    By redtr6 in forum Subaru XV General Discussion Forum
    Replies: 25
    Latest Post: 08-15-2014, 07:22 AM
  4. I know I could look this up but that takes the fun out of it. Anyone want to tell me
    By SubiDoobyDoo in forum Lighting, Electrical, and EyeSight
    Replies: 11
    Latest Post: 04-22-2014, 02:29 PM
  5. Chase Subaru credit card. If you have one read this!
    By subeman90 in forum Subaru XV General Discussion Forum
    Replies: 4
    Latest Post: 11-21-2013, 08:11 PM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
Powered by vBadvanced CMPS v4.1.2