I just got a really weird call from my dealership. They need me to let them run credit check again because when they did it the first time, they apparently finalized the deal without properly obtaining approval from the car's corporate office, who is the direct lender. The corporate apparently requires credit score pulled from a different credit bureau than the one the dealership pulled. So even though I put down my big down payment and signed the finance term sheet, outlining the months, taxes, and payment on the amount financed, the dealership says it needs to retroactively run my loan application again.
I've never heard of this. What is my recourse here? I don't think they are allowed to hard pull my credit twice. The contract says dealership has 10 days to cancel the contract. I suppose they could exercise that option and take back delivery. But do I have to let them run my credit again? Of course I would not let them bait and switch me with a different interest rate. I'd rather let them take back the car, which I doubt they want to do. But can they do this?
Submitted April 20, 2021 at 06:53PM by towntendie https://ift.tt/2QLkRLp
