10 hard pulls for a car loan?

[robtwms]

Ok I just purchased a car from my local honda dealership. I walked into the dealership on 6/9. I finally took delivery of the car on 6/21. I guess the dealership was doing a little shopping around so I expected a few extra pulls.

 

As of today there has been 5 extra hard pulls on TU and EQ. American Honda has pulled 3 different times, And now i see new pulls from Cap1 and a few other no name finance companies.

 

Is this an indication that my loan isnt actually done? Will the dealership call me next week asking for the car back? I've got a bad feeling.

[MarvBear]

One would think that from 06-09 thru 06-21 one would have had enough time to secure the approval.

[robtwms]

One would think that from 06-09 thru 06-21 one would have had enough time to secure the approval.

 

Exactly. Im going by the dealership today to see whats going on. My score dropped 8 points because of all the hard pulls.

[hegemony]

have you considered a CUDL?

[robtwms]

have you considered a CUDL?

 

Does that mean a credit union loan? If so no. I havent been with my CU long.

[hegemony]

have you considered a CUDL?

 

Does that mean a credit union loan? If so no. I havent been with my CU long.

it is a special type of CU loan. when we went the CUDL route it resulted in only one inq, from the CU. Often, a CUDL can be arranged with a CU that you are not a member of.

[robtwms]

Ok. I just went to another honda dealership and they informed me that there is no new loan in my name in Honda's system. I also noticed that the original dealership sent my info to Cap1 and WF.

 

Im gonna get a call next week asking for more of a downpayment or return the car. . Im pissed right now.

[hoapres]

have you considered a CUDL?

 

Credit Union Direct Lending.

 

www dot cudl dot org.

[Guest Bree82]

I had a car for two months while they tried to get me financing. I kept trying to figure out what was going on. They pulled my CR over 30 times!! All hard pulls!!

 

One day I had enough, I went back and gave the truck back and made them give me my downpayment back. Two months I had that thing. I dont understand why companies do that - give you a car without financing...

[robtwms]

I had a car for two months while they tried to get me financing. I kept trying to figure out what was going on. They pulled my CR over 30 times!! All hard pulls!!

 

One day I had enough, I went back and gave the truck back and made them give me my downpayment back. Two months I had that thing. I dont understand why companies do that - give you a car without financing...

[/quote/]

 

Well Im taking them this car back tomorrow. I also filed a complaint with the BBB. This is the second time this happened to me with the same dealer.

[pennypoor]

hey rob,

 

any updates? i hope everything turned out to your benefit.

[robtwms]

Actually it did. i went to another dealership and got immediate approval for American Honda with a lower interest rate 11.58%

[Chris in OK]

Congrats!

[pennypoor]

yay!! congrats!!

[hegemony]

congrats!

[MarvBear]

congrrrrrrrrrrrrrrrrrats.