Hi guys,

Getting ready to place an order for a white C2S - I already have approved loan from my bank so don't need any financing, etc... from the dealership.

However, they want me to fill out a credit application still saying that they need to make sure that I do not export the car, etc....

Is this common practice???

 

Is there another dealer you could buy from? If so, RUN to that alternate dealer.

Sounds like they don't trust that you have the ability to pay for the car and want to run their own credit check on you. WTF? Credit check to make sure you don't export the car? Sounds like they not only think you are broke, but stupid as well.

"Car salesmen are eager to run a customer's credit report and often say it is for the buyer's convenience, and will speed up the car-buying process, says Chris Kukla, senior vice president of the Center for Responsible Lending. "But they really want to know if they can easily finance you," he says. "The result of the credit report has an impact on what the buyer pays for the car, and whether they get a hard sell for additional products in the finance and insurance office."
Marv Eleazer, finance director at Langdale Ford in Valdosta, Georgia, agrees. "This is a ruse and designed to get access to the customer's credit report in order to qualify a customer to various finance sources the dealer uses," he says.
Buy here, pay here car dealers often demand a credit report early in the car-buying process, Kukla says. Often, the car's price isn't even posted on the windshield. After seeing the result of the credit report, the dealer can adjust the price to maximize his profit, Kukla says"

 

they r just trying to bait u so they can try and beat ur banks interest rate ..... if possible.

tell them u got 0.9% financing, and they will prob back off.

on the flip side, if they can beat ur banks interest rate, it will be good for u. the best I got from the dealer was 2.9% x 48 months.

but the crap about exporting is just stupid..... not in the internet age!

 

When I purchased my car they wanted me to sign a security agreement - essentially a chattel mortgage pledging my car - assuring the dealer that I would not export the vehicle within six months of the delivery date. As the agreement of sale imposed no such obligation and they weren't paying me for that security interest I refused to sign it.

The credit check is just more bogus car dealer nonsense.

 

I wrote a personal check for a deposit. That was it. Never filled out any forms or applications.

 

I had to sign the same form rnl mentioned when I purchased mine. My sales rep said it's not un-common for people to buy them specifically for export to China, where the sell for a lot more. I don't know if race had anything to do with it, but I'm white and still had to sign the papers. He told me not too long ago he had a client ordering a brand new car, and after running the credit checks, found that he was ordering a brand new car from each of the area dealerships! They felt that was suspicious and decided not to sell that customer a car. I asked why the dealer would care one way or another about this, and he said if Porsche finds one of their cars in China, they get hit with a big penalty on future allocations.

fwiw - this was in the bay area

 

remember, as they run a credit check your score goes south.

 

That's too funny. I'm on the east coast. Let's see, I suppose I could ditch my law career, solicit some orders, order a few here, and ship them to buyers worldwide and repeat until they stop selling me cars. The dealers around here want to sell sell sell

I'm not quite sure how they could enforce the security agreement as they said they did not intend to file it and it's hardly a purchase money security interest as they would be owed nothing on the purchase price.

Just more Porsche bullsh@t to keep prices of cars and their options high. Then again nobody forced me to write that check to the dealer

 

I paid cash for mine but they insisted that they run credit check...I was confused but in the excitement of getting in to my custom ordered baby quick, I let them do it. This was done at FJ Fremont ...they are the best bunch but stay away from their finance guy AJ...he's a piece of work.

 

Just say no!

 

Thanks for all the inputs - Just call and told the dealership to no deal on the credit check. FYI - the dealership is in So Cal.

 

I wasn't required to sign anything or submit any personal credit info. I ordered my car with a $2500 deposit made with my AMEX card and paid for the car when it came in via wire-transfer. Done & done.

 

I'm in SoCal here too. No credit check for me. Not sure which dealership you used. Originally, they had asked me, but then I said I wasn't interested in a lease. After that, they never asked.

 

$175,000 order. No credit check. Personal check for $10,000 down. Dallas, TX

 

I've dealt with him in recent months and not pleasant. But then again, I've never met a finance guy that's honest.