I was reading about buy rate and sell rate. Pretty straight forward. However, which rate is directly connected to a customer’s credit score?
Credit inquiries are essentially meaningless, but few are as meaningless as those pulled for auto finance.
FICO models assume certain transactions will be rate-shopped, and as such they score multiple auto pulls in a generous amount of time (generally 45 days) as if there was only one.
Also keep in mind that credit reports aren’t free. It doesn’t make financial sense for the dealer to buy a credit report every time someone takes a test drive.
Most banks have different buy rate tiers based on credit. Credit score is one of several factors that goes into that.
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13 posts were merged into an existing topic: Off Topic Landfill 5
If I do zero DAS, singed and took delivery on June 1, will the first payment be due July 1?
Yes. SInce the first payment, technically due June 1 is rolled into the cap cost.
Ah, gotcha. Thanks!
Has anybody ever attached their credit report on an initial email to the dealer?
Also, who should I email on initial contact? GM, GSM, SM, or salesperson?
Thanks.
If you have been at the store, email the sales person.
If not a SM
Leave the GM alone, they have more important things to do than 1 deal
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Hi, I’m planning to email another round of target quotes near the end of march. Should I bypass the previous salesperson who has blew me off and email the SM directly?
yes. Its part of the SMs job to deal with the shortcomings of his/her staff. We fail to train them/hold them accountable we get the repercussions of having to waste our time doing their jobs
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Don’t forget your birth certificate and diplomas as well.
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Theyre going to have to pull it anyway if they accept your offer.
I always specify in my offer that I’m basing off tier 1 credit and that my offer is obviously contingent on approved credit. Never needed to complicate things further than that.
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No. That is just downright silly and unnecessary.
And to add to the above, if you happen to get a dealer who insists on pulling credit before doing anything, just tell them to assume Tier 1 (unless you only qualify for a lower tier, at which point you should have told them that in your initial offer).
If they still insist then move on to the next dealer.
We’re dancing on the line of having to landfill all these posts because they’re just too troll-ish.
Every single post is more ridiculous than the next
“IDK whether to capp a $175 doc fee or pay it upfront”
“IDK what to say to a salesperson who wanted to keep my DL in their possession during a test drive”
“Should I I attach credit reports to my emails?”
I hope you never get to GM… because then you’ll be too busy to post on LH. And we’ll lose access to all the memes about the CSI survey.
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2 posts were merged into an existing topic: Off-Topic Landfill 6
13 posts were merged into an existing topic: Off Topic Landfill 5
I’m thinking it may be a good idea for you to make a new post in ask the hackrs with your target deal and layout of the offer before sending to dealers.
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Correct. This is not a “deal check” thread. Nor is it a spoonfeeding thread.
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