I went to my local dealer to buy a new X3, ready to pay in full with a personal check and a preapproved loan draft from my credit union. After agreeing to buy the car, both the SA and the Finance Manager said I had to also agree to a credit check so they could set me up for backup financing with BMW Financial Services in case my checks didn't go through. They said this is standard practice, even if paying full cash.
As we went through the paperwork I realized they did a hard credit inquiry and were asking me to sign a number of forms for this unwanted loan which would kick in if they didnt get funding from my credit union in a few days.
Both my bank and credit union vouched fully for both checks with them by phone. Am I to believe one is unable to buy a new BMW nowadays without getting backup BMW financing?
My credit score has now dropped because of the back to back car loan inquiries. BMW is sending their post sale survey soon and I am not happy. Thoughts?
As we went through the paperwork I realized they did a hard credit inquiry and were asking me to sign a number of forms for this unwanted loan which would kick in if they didnt get funding from my credit union in a few days.
Both my bank and credit union vouched fully for both checks with them by phone. Am I to believe one is unable to buy a new BMW nowadays without getting backup BMW financing?
My credit score has now dropped because of the back to back car loan inquiries. BMW is sending their post sale survey soon and I am not happy. Thoughts?
0 commentaires:
Enregistrer un commentaire