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Is credit score FICO needed when buying a car with cash?

DKTVPN 3,505 1,815 October 18, 2015 at 05:53 PM
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Are they gonna make a hard pull even paying cash to buy a vehicle?

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#2
they as in a dealer? If they ask tell them to screw off. Cash = no credit = no credit check.
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#3
There's absolutely no reason for a credit check if you are paying cash. They are not considering extending credit to you.
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#4
Do dealers ask for SS #? Can they pull the credit report with just the driver's license? What infos do I need to provide when paying with cash?
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#5
Quote from DKTVPN View Post :
Do dealers ask for SS #? Can they pull the credit report with just the driver's license? What infos do I need to provide when paying with cash?

By law dealers cannot run credit checks without your explicit consent. When I was "shopping" for a car I made out a sheet with a scan of my license and verbage to the above (and quoted the law):

https://www.consumer.ftc.gov/arti...ng-act.pdf

Access to your file is limited. A consumer reporting agency may provide information about
you only to people with a valid need -- usually to consider an application with a creditor,
insurer, employer, landlord, or other business. The FCRA specifies those with a valid need for access.
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#6
They can't do a credit check unless you fill out the paperwork and you agree to it. If you have cash, use it to buy the vehicle and get a receipt.
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#7
No credit report was pulled the last time I did this for my last (used) car. I even asked them to hold the check for a week (which I think is very typical) and it was no issue at all.
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#8
Do they need to? Absolutely not.
Should they do it? Absolutely not.
Will they do it? They may try.

To the latter, if you go into a dealer and want to pay cash for a car, the dealer may want to try and 'convince' you to get a car that is more expensive with financing. Most dealers/manufacturers make more money on finance charges than they do on the vehicle itself. So make sure you read anything you sign or fill out carefully to ensure that they don't try and run your credit so they can come back and let you know what else you qualify for.
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#9
They may not need to but you still need to fill out irs forms if vehicle is above 10k. Those will have your social etc
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#10
Quote from PRINTABLECOUPON View Post :
They may not need to but you still need to fill out irs forms if vehicle is above 10k. Those will have your social etc
So they will use my SS # to check my FICO no matter what? How to prevent this?
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#11
Quote from DKTVPN View Post :
So they will use my SS # to check my FICO no matter what? How to prevent this?

Sometimes mistakes happen in the back office, one of the biggest auto dealer groups use check box that has to be un clicked otherwise it will run the credit report as well. I'm curious why it matters so much since it will fall off within months
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#12
Quote from DKTVPN View Post :
So they will use my SS # to check my FICO no matter what? How to prevent this?
Quote from PRINTABLECOUPON View Post :
They may not need to but you still need to fill out irs forms if vehicle is above 10k. Those will have your social etc
I bought a new car last year (Honda dealership). I paid with a cashier's check. I told them upfront that I was going to be paying cash and I did not want to give out my social for any reason (due to past issues with identity theft, etc). They were fine with this and did not try to sneak anything under my nose. I most definitely did not give them my SS#. The transaction was above 10K.
(edit for clarity: not saying PRINTABLECOUPON is wrong per se --- just saying there are dealerships out there that will work with you and wont require SS)
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Last edited by Jcaelum October 26, 2015 at 04:17 PM
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#13
Quote from Jcaelum View Post :
I bought a new car last year (Honda dealership). I paid with a cashier's check. I told them upfront that I was going to be paying cash and I did not want to give out my social for any reason (due to past issues with identity theft, etc). They were fine with this and did not try to sneak anything under my nose. I most definitely did not give them my SS#. The transaction was above 10K.

Cashiers check is different so is a personal check if names match and the bank clearing service we used approved it then you were good to go.

I'm thought we were talking about cold hard cash?
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#14
Quote from PRINTABLECOUPON View Post :
Quote from Jcaelum View Post :
I bought a new car last year (Honda dealership). I paid with a cashier's check. I told them upfront that I was going to be paying cash and I did not want to give out my social for any reason (due to past issues with identity theft, etc). They were fine with this and did not try to sneak anything under my nose. I most definitely did not give them my SS#. The transaction was above 10K.
(edit for clarity: not saying PRINTABLECOUPON is wrong per se --- just saying there are dealerships out there that will work with you and wont require SS)
Cashiers check is different so is a personal check if names match and the bank clearing service we used approved it then you were good to go.

I'm thought we were talking about cold hard cash?
Thanks for the infos!

It's with check. And yes, I know any transaction from 10K up needs paper work, I did several times with 9,900 to avoid it. In 2012 I bought a new Toy with a check for almost 28K and they pulled my credit score. Now I know what to do.
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#15
If you are paying cash\bank check, then there is no reason to do a credit check and no reason for a SSN to be given out with the exception of registration as far as I know. Most states will require DL, SSN and proof of insurance to register the car so if the dealer is doing it for you and getting the plates, then you will likely have to give them that info.
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