Using a broker - information saftey?

Ask the Hackrs
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Hi All,

I am thinking about using a broker for a deal. However I am always worried about my personal information. Are there any tips or advice in assuring the safety of my personal information?

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Insist on using financing company’s credit check application process . Worst case, use dealer’s online form. I would be hesitant to give/enter my SSN to the broker. ( although most SSNs are probably shared by cyber crooks already).

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It’s smart of you to be concerned. The most information you should be giving the broker is contact info (name address city state zip phone - type stuff). If there are any questions about your ability to get A tier lease rates, a screenshot of a recent FICO score (without your entire credit bureau) should suffice.

When it’s time to actually apply for the lease, and handover any financial or Social Security information, you will most likely fill out a secure credit application directly with the dealership and not through the broker. They should never see your credit bureau. The only time they might need proof of income is leasing something more exotic (eg at one time a BMW i8 leases had POI stip). If they don’t ask, don’t worry about it (who needs a Bently Bentayga anyway?)

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never give any info to broker. Never given SSN to dealer or broker. Always apply with company directly first, and walk in with pre approval number. If a leasing company insists they must have the dealer apply for you (i think either volvo or subaru, I just have just walked away). BMW/MB/TFS have never asked for SSN at dealership.

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So if I am looking to do a deal with BMW how do I apply with them directly if using a broker?

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Ask the broker what they do specifically

Some may collect the app and others may have the dealer send it

Of course, if you’re not comfortable with something, that is your choice, but the reputable brokers on this site aren’t in the business of messing w people’s information.

Just remember that all we do on here and on social media is in the public eye.

If a broker were to wrong a customer, it kills business and can be damaging to a reputation. A real broker doesn’t want to take your personal information and do anything with it.

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