Toyota Yaris Forums - Ultimate Yaris Enthusiast Site
 

 


 
Go Back   Toyota Yaris Forums - Ultimate Yaris Enthusiast Site > Second Generation Toyota Yaris Main Rooms > New YARIS Purchase Forum
  The Tire Rack

Reply
 
Thread Tools Display Modes
Old 02-05-2009, 11:26 PM   #1
firebird1999us
 
firebird1999us's Avatar
 
Drives: 2003 Mach 1
Join Date: Oct 2008
Location: Georgia
Posts: 293
Dealer(s) told me they needed to run my credit report even though I'm...

...not financing the car. Several different dealers made reference that they needed it to confirm my identity. I've read in a few places that this is a scam and that the dealer only wants that info to run my credit report so they can run it at several different lenders and make kickbacks from them as aresult for initaiting financing....or soemthing like that??

http://www.carbuyingtips.com/scams.htm

Quote:
Abuse of the Patriot Act?
We are getting complaints from car buyers who have their own car financing from a credit union or an online lender, and the car dealer forces them to sign a credit application anyway, falsely claiming "it's required by the Patriot Act". There is no verse in the Patriot Act that I can find requiring you fill out a credit application, or allowing dealers to run credit checks on you when you bring your own car financing. Their bogus claim sounds believable, but armed with verbiage of the law, you can stop them. Here's a link to the Patriot Act: http://www.lifeandliberty.gov/highlights.htm. Ask the car dealer to tell you which exact section of the Patriot Act requires them to make you fill out a credit application when you have your own financing, and collect your Social Security number, and run your credit report. Since they claim it's required, they should be able to show you the verbiage (HINT: They can't). The Patriot Act (H.R. 3162), Section 326 "Verification of identification" requires banks and financial institutions to verify your ID before you open an account. Since you are not opening an account with the dealer and they are not a bank, they don't need you to fill out a credit application or a Patriot Act form. The Patriot Act form I filled out for my mortgage only asks for your loan number and driver's license number, not your SS#, and it does not say "Credit Application" on it. The Patriot Act specifically calls out driver's licenses or passports for ID verification. Nothing more. Dealers fool you into filling out the credit app, so then can run your credit through a half dozen local banks in an attempt to lead you into the dealer's financing so they can get more commission. But why all the lies?
Anybody got any ideas here? I'm tempted to put up a fight about it when I go to buy tomorrow?
firebird1999us is offline   Reply With Quote
Old 02-05-2009, 11:51 PM   #2
brainless twit
 
brainless twit's Avatar
 
Drives: 2009 base sedan
Join Date: Jan 2009
Location: Kentucky
Posts: 67
I had the same thing happen to me with the first Yaris I looked at purchasing. I was paying cash, yet they insisted they had to have my social security number and all kinds of paperwork to sell me the car. They did mention the Patriot Act when I protested, come to think of it. I ended up leaving, and I financed a new Yaris at a different dealership instead of buying the used LB. It will cost me more, but my privacy is worth more to me - it's one thing for them to use my information if they're providing the financing, but there is no reason for it if you are paying them upfront.

Edited to add: Why do they need to confirm your identity, anyway? It's not like you're going to skip out on payment. Your driver's license should be all the confirmation they need.
brainless twit is offline   Reply With Quote
Old 02-06-2009, 12:00 AM   #3
firebird1999us
 
firebird1999us's Avatar
 
Drives: 2003 Mach 1
Join Date: Oct 2008
Location: Georgia
Posts: 293
Quote:
Originally Posted by brainless twit View Post
I had the same thing happen to me with the first Yaris I looked at purchasing. I was paying cash, yet they insisted they had to have my social security number and all kinds of paperwork to sell me the car. They did mention the Patriot Act when I protested, come to think of it. I ended up leaving, and I financed a new Yaris at a different dealership instead of buying the used LB. It will cost me more, but my privacy is worth more to me - it's one thing for them to use my information if they're providing the financing, but there is no reason for it if you are paying them upfront.

Edited to add: Why do they need to confirm your identity, anyway? It's not like you're going to skip out on payment. Your driver's license should be all the confirmation they need.
Well that's my thinking...I'm getting one hell of a deal on the car, but I don't want my credit pinged for no apparent reason

Anyways, I'm going protest if i comes up...I think I'll call the local BBB tomorrow too!
firebird1999us is offline   Reply With Quote
Old 02-06-2009, 12:47 AM   #4
1NZYaris1
 
1NZYaris1's Avatar
 
Drives: Yaris
Join Date: Oct 2008
Location: New Zealand
Posts: 2,566
Stick to your guns on this one , all they need is proof of drivers licence, and
proof of address (ie power,phone bill etc)
Well thats whats required here in New Zealand anyway.
best of luck .Are you still going for the Yellow One.
1NZYaris1 is offline   Reply With Quote
Old 02-06-2009, 12:55 AM   #5
dvlnblkdrs
Shush!
 
dvlnblkdrs's Avatar
 
Drives: 2007 toyota yaris
Join Date: Jan 2007
Location: orange, ca
Posts: 3,521
Send a message via AIM to dvlnblkdrs Send a message via Yahoo to dvlnblkdrs
copied direct from patriot act: establishing minimum new customer identification standards and recordkeeping and recommending an effective means to verify the identity of foreign customers



so they are full of POOP! tell em to shove that yaris where the sun dont shine.. you can find one at a dealer who isnt gonna run a credit report.. everytime your credit is run, it drops a few points...just so ya know... and people can see where and how many times you have been accessed...
__________________
"Kids sure like the devil these days"




dvlnblkdrs is offline   Reply With Quote
Old 02-06-2009, 09:42 AM   #6
firebird1999us
 
firebird1999us's Avatar
 
Drives: 2003 Mach 1
Join Date: Oct 2008
Location: Georgia
Posts: 293
Got this response:

Quote:
We pull your credit once to verify that you are who you say you are, If your credit score is under 600 we can't except a personal cheque,it would have to be certified cheque.

We make you sign a privacy notice stating we do not share this information with anyone.!!!

It's more a security measure we let you leave with our vehicle and a hold cheque...?

Hope this helps.
firebird1999us is offline   Reply With Quote
Old 02-06-2009, 09:47 AM   #7
mikenacarato
SIPNDEW
 
mikenacarato's Avatar
 
Drives: 15 STI
Join Date: Oct 2008
Location: Brentwood, TN
Posts: 2,281
Send a message via AIM to mikenacarato
i would skip the check part and just pay cash if they are saying its for check reasons.
mikenacarato is offline   Reply With Quote
Old 02-06-2009, 09:56 AM   #8
brainless twit
 
brainless twit's Avatar
 
Drives: 2009 base sedan
Join Date: Jan 2009
Location: Kentucky
Posts: 67
So why not just get a certified check from your bank, then it doesn't matter what your credit score is? Their logic still doesn't make sense to me, but if that's the big deal, get a cashier's check and be done with it. I still don't see any reason why they need to run a credit check.
brainless twit is offline   Reply With Quote
Old 02-06-2009, 10:05 AM   #9
33OH
 
Drives: '08 Yaris
Join Date: Oct 2008
Location: Dover, Ohio
Posts: 7,606
+1 on the certified bank check.
33OH is offline   Reply With Quote
Old 02-06-2009, 10:28 AM   #10
Tamago
Start another Oil Thread!
 
Tamago's Avatar
 
Drives: ZZW30
Join Date: Dec 2006
Location: South FL
Posts: 4,890
Send a message via AIM to Tamago Send a message via Yahoo to Tamago
didn't read the thread, but in short, they DO need your social. they DO need your ID but they don't need to run your credit.

salesmen have to fill out a form for the IRS if someone drops over $10,000 cash on a car IIRC.. keeps people from laundering money through a dealership.
__________________
Quote:
Originally Posted by xnamerxx
I hate people like you (xbgod) because your the reason I don't come to this board. You spout nonsense and lies and people who don't know any better hold you in high regards because they can't tell the wheat from the chaff.
you nailed it sir.
Tamago is offline   Reply With Quote
Old 02-06-2009, 10:55 AM   #11
Bob_VT
 
Bob_VT's Avatar
 
Drives: 08 Yaris LB
Join Date: Oct 2008
Location: Vermont
Posts: 1,704
I would be seeking another dealership
__________________
some people are little slinkies. . . . .they are really good for nothing. . . .but they still bring a smile to your face when you push them down a flight of stairs.


Come to the DARKSIDE..... We have candy
Bob_VT is offline   Reply With Quote
Old 02-06-2009, 11:10 AM   #12
PreciousPups4U
I really LOVE this car!!!
 
PreciousPups4U's Avatar
 
Drives: 08 Bayou Blue LB AT
Join Date: Oct 2008
Location: Lexington, SC USA
Posts: 887
Paid cash, well certified check, for my older daughter's car a couple of years ago. They did not ask for a SSN, just my id.
__________________
Cindy


“If there are no dogs in Heaven, then when I die I want to go where they went.” - Will Rogers

PreciousPups4U is offline   Reply With Quote
Old 02-06-2009, 11:36 AM   #13
otterhere
 
Drives: 2008 Yaris 3-door Meteorite
Join Date: Oct 2008
Location: Southeast
Posts: 398
Quote:
Originally Posted by brainless twit View Post
I had the same thing happen to me with the first Yaris I looked at purchasing. I was paying cash, yet they insisted they had to have my social security number and all kinds of paperwork to sell me the car.
Hmm. Did you pay CASH cash (hard cash), cashier's check, money order, or personal check? I used the last, from a money market account, and I signed some papers; quite likely I also gave them my SSN. If so, I didn't think twice about it; I was just so ready to get outta there and be done with salesmen!

If they ran a credit check on me, I wasn't aware, but why would they have?

otterhere is offline   Reply With Quote
Old 02-06-2009, 11:37 AM   #14
YarisSedan
 
YarisSedan's Avatar
 
Drives: 08 Yaris Sedan
Join Date: Oct 2008
Location: California - Bay Area
Posts: 2,773
Send a message via AIM to YarisSedan
Yeah they have to run your credit report if you are paying with a personal check. Unless your walking in with briefcases full of cash they are looking out for thier best interest. If they pull your credit and they see bad credit with reposetions they would think twice about accepting a personal check and want you to pay with a certified one to entrust they wil be keeping th emoney.
YarisSedan is offline   Reply With Quote
Old 02-06-2009, 12:32 PM   #15
firebird1999us
 
firebird1999us's Avatar
 
Drives: 2003 Mach 1
Join Date: Oct 2008
Location: Georgia
Posts: 293
I talked to a very good friend of mine's dad who is in management at a completely seperate car dealership that I am not buying a car from...he said that that is standard procedure nowadays and that by law they are prohibited from shopping your credit information to anyone. And also that it is purely for security purposes. So considering I've talked to 4 seperate dealers at this point and they all have the same answer I think that's just kind of how it is on new car purchases in Georgia
firebird1999us is offline   Reply With Quote
Old 02-06-2009, 12:51 PM   #16
ddongbap
Banned
 
Drives: yw calls me douche and racist.
Join Date: Aug 2007
Location: hay
Posts: 2,183
Roll up baller style. With a suitcase filled with cash. Except have someone else hold it. Have him wear a suit. When you snap your fingers, have him plop down the cash, harsh style and open it. hahahha
ddongbap is offline   Reply With Quote
Old 02-06-2009, 12:51 PM   #17
ddongbap
Banned
 
Drives: yw calls me douche and racist.
Join Date: Aug 2007
Location: hay
Posts: 2,183
Quote:
Originally Posted by firebird1999us View Post
I talked to a very good friend of mine's dad who is in management at a completely seperate car dealership that I am not buying a car from...he said that that is standard procedure nowadays and that by law they are prohibited from shopping your credit information to anyone. And also that it is purely for security purposes. So considering I've talked to 4 seperate dealers at this point and they all have the same answer I think that's just kind of how it is on new car purchases in Georgia
Well, I think theres the problem right there. You're asking dealers. You've got to ask a non biased person. Maybe a lawyer.
ddongbap is offline   Reply With Quote
Old 02-06-2009, 01:07 PM   #18
PreciousPups4U
I really LOVE this car!!!
 
PreciousPups4U's Avatar
 
Drives: 08 Bayou Blue LB AT
Join Date: Oct 2008
Location: Lexington, SC USA
Posts: 887
Quote:
Originally Posted by ddongbap View Post
Roll up baller style. With a suitcase filled with cash. Except have someone else hold it. Have him wear a suit. When you snap your fingers, have him plop down the cash, harsh style and open it. hahahha
Awesome. Take photos.

Or maybe a tall blonde in stilettos, fishnets and a mini skirt. make it memorable.
__________________
Cindy


“If there are no dogs in Heaven, then when I die I want to go where they went.” - Will Rogers

PreciousPups4U is offline   Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
Problems with bank of america credit card YarisSedan Off-topic / Other Cars / Everything else Discussions 15 12-26-2008 05:05 PM


All times are GMT -4. The time now is 07:32 PM.




YarisWorld
Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2024, vBulletin Solutions Inc.