Car Dealership Credit Report Scams and the Patriot Act


Know your rights and don't let the car salesman run your credit report without your permission — not even in the name of patriotism.
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Know your rights and don't let the car salesman run your credit report without your permission — not even in the name of patriotism.
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This happened to me yesterday. I CLEARLY mentioned I do not need dealer finance, but he still pursued me to agree for a credit check. I thought it was a norm. He said this will help me!
But nope, all that it did was reject the "finance application" which I did not need, and lower my credit score.
Too disappointed with this vulture-culture.
See http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Workbook-on-Reporting-Cash-Payments-of-Over-$10,000.
They insisted that the dealership needs to my verify identity. I took my keys back and walked out.
Actually, it's not so odd. The other forms of payment are such that it is not possible to trace their source of funds. Since a personal check flows through an account with associated identification, there is tracing built in.