MBS63AMG

I agree. My score is around 800 right now but at one time it was down to below 600 because I carelessly let merchants pull soft and hard inquiries without thinking about it. I think differently now.

MBS63AMG

That's true too. Much of this has just become effective in the past 3 or 4 years. More common each day.

SW20S

One hard pull will definitely hurt your credit, at least a little. If you happen to have had a few other inquiries lately it might hit it 20 points or so actually.

The dealer just doesnt need to see your SSN or your credit report here.

places

.

emilner

What you experienced is a remote capture. The check didn't clear immediately, they ran the check through a scanner which automatically deposited into their account. The car company does not need to then go to the bank and deposit it. Their bank then does their usual digital true up from the opposing bank- usually in 24/48 hrs with most major banks. You can still cancel the check until it clears.

Mercedes is very strict with this actually. When you purchase a GL you have to sign an agreement that you will not export it for a period of time (usually a year). They are made here in the states and people will buy them and export them for a large profit. Vin #'s don't lie and MB can easily trace it when they go in for service in China. A very good friend/client is blacklisted from buying a Mercedes because his son was doing a few trucks a year. He would go around the country and buy a truck and export it. By the time MB caught on he had exported 5 vehicles, not to mention more BMWs as well. Having the same name as his son and the same previously known address and bam, he's locked out.

superpop

Here is a recent article on straw buyers for all the naysayers.

https://www.caranddriver.com/feature...s-and-porsche/

hyperion667

Being June in Georgia, it was hotter than two hamsters farting in a wool sock.

LMFAO!!

That was a great read, danke!

emilner

I read that when it first came out and just now a second time. Truly one of the best written articles to ever be published in a car rag...

SW20S

I'm not a naysayer, I agree that happens, its just not my problem, its their problem. I'm not going to surrender my SSN and take an inquiry on my credit report to protect them.

superpop

I guess to answer the OP question, this is normal practice at most dealers I have purchased cars from in the past 5 years or so. It is your choice but they also do not have to sell you the car.

claude1225us

if the dealer has doubt then just have your credit union fax over the draft. issue solved.

MacMP

I run a credit union. Trust me, do not fill out the credit app unless you intend to finance the through the dealer. Work out the amount you owe the dealer before hand, and bring an official check from your credit union to pay. An official check is the equivalent of a certified check from a bank. Nearly impossible to commit fraud.

places

This 100%. Period.

hyperion667

What if you know FOR A FACT you don't even have any credit and let the dealer run your credit?

MacMP

First, they will find out you don’t have any credit.

Second, they may choose to trust you less

OR

Third, they may choose to grovel at your feet because you are wealthy.

hyperion667

Ah ha! Interesting. Thank you for your reply

Wolfman

Bottomline. There is no reason to fill out a credit app if no MBFS financing is used. As stated in this thread, this is a hard check that will show up on the credit report for zero reason, wether it impacts the score (which is will as the credit union will do the same later = multiple inquiries plus the financing).

S-Class models are not desirable from an export standpoint so that aspect is not an issue here. Am sure most dealers would like to sell you several I assume the dealer simply wants to pitch a counter offer (once qualified) to grab the profit sharing money that comes with financing/leasing the car with MBFS.
My recommendation would be to walk away if they insist.

SW20S

And they will fold like a ton of bricks when you threaten to walk away

MBNUT1

Yeah I totally didn't get the recommendation to play ball.

emilner

I just have to correct you on the second part of your statement for those who may accept a verified/certified/official check from a bank. They can easily be fraudulent. We have seen numerous times they are stolen by staff, robbers, etc. Once in the wild they can be drafted any way the thief wishes. The best thing to do is call the bank that issued the check (using a phone number accessed online from the banks official site, NOT what is listed on the check). I watched a friend see off his 2 year old 750 with a fake cashiers check. His insurance covered it but he paid in the end.

MacMP

I said “nearly impossible”.

emilner

Which is an incorrect assumption. No damn fool takes one without verifying it. If you don't feel that way, then I feel for ya...

MacMP

Sir, I am not sure what you are on, so I will simply allow you some grace.

Nowhere in my statement did I say anything regarding the process a vendor uses to verify the legitimacy of a Official or Cashier check.

My credit union has strong direct relationships with every dealership in my market. They know how to handle these checks as well as we know how to handle the dealers needs. This isn’t referencing a private-party transaction in any manner. On those, I recommend the seller and buyer come into one of my branches to complete the transaction, together.

So please get off your high horse, or your drugs, or whatever it is and back off.

emilner

?? Sorry guy but you came here and said official checks are almost impossible to fake which in my 25 years of banking experience is one damn dangerously false comment. No where else to go with this, this wasn't anything against you personally, just a factually incorrect thing you said. And I don't want anyone getting hurt by it...

hyperion667

I prefer tea over coffee