Hard Inquiries From Auto Dealers || How To Avoid Them || Buying A Car The Smart Way || Financing Tip

Hard Inquiries From Auto Dealers || How To Avoid Them || Buying A Car The Smart Way || Financing Tip


(hip hop music) – So, I’m seeing a lot of people coming to me, lot of hard
inquiries from auto dealers. Do not run your credit at an auto dealer. They’re gonna just run
it and run it and run it and they’re gonna look
and they’re gonna try and find the best way to make
money on you, that’s right. All this inquirers looking for this loan for you ain’t for you. It’s not for you. When you go into an auto dealership, they’re looking to make money on you. They want to shotgun blast your credit to pull out as much as they can to find a lender that
will let them mark up the loan so that they can
make some extra money on it. Yes, that’s right, OK? So they will find the lender
that’s appropriate for them, not for you, that’s what they are doing. That’s what they are constantly
doing, making money on you. So, when you go into that dealership, OK, don’t have them run your credit. All right? You can do whatever you
need to do without them pulling your credit. You can go to your local bank
or credit union or whomever has got the money for you,
hell, you can buy the car in cash. But let’s say you do need a loan. Go to your local credit union, get something that’s
preapproved, something that says, OK, we can get you this
20 grand for your car, whatever it is you’re looking for. Do not put your financial future in somebody else’s hands. There’s a conflict of
interests, by the way, when you think about it, when you go, “Oh, I got this person who
wants to make some money on me “and is just gonna go ahead
and get me the best deal “on the best,” I mean, come on. Let’s be realistic. And not only that. And I said, buying a car is
a depreciating asset, right? It’s more of a liability. So I prefer, and I know this, you know, everyone’s to themselves, do
what you got to do, do you. OK, but I prefer paying for a car in cash. I know. I know. You’re saying, can’t
get a new car in cash. You need a nice new car,
you need a new lease, hey, do you, but if you can afford to pay five grand for a car in
cash, run it ’til the wheels come off, do some repairs,
learn some stuff, you know. It just, do your best, you know? Now if you got to get a new, maybe a pre-owned, all
right, maybe somebody else has done the wear and tear on it already, kind of, you know, pre-owned,
maybe a little bit less or get something in your
price range, you know? I’m seeing people go out
and get cars that may be a little bit outside their price range. Or they just got something
that’s a little bit, you know, they’re barely scraping
by and their jobs change. Things change. You finance a car for four,
five, six years, seven years. There’s no guarantee
it’s gonna be the same. So just be cautious when
you go to these car dealers, because I keep seeing over and over, yeah, they run my credit 80
times, 40 times, 30 times. Cut it out, guys, all right? I want you guys to have
the best possible life. And it’s not worth it, it’s
not worth it, all right? Thanks. Thanks for watching. Give a thumbs up, subscribe. And if you want us to repair your credit, check out the link below, weaverfinancialgroup.com, or
if you want to do it yourself, 609creditrepair.com, link below. Thanks guys. (dubstep music)

About the Author: Michael Flood

25 Comments

  1. so true!!!! i was recently looking for a car and now have 70 inquires on CR because they kept running. I found a used dealership that does no credit check and just got my car from them

  2. I wish I would of seen this video 4 months ago! They slingshotted my husbands application all over the place and dropped our credit scores horribly! Never again!

  3. Man I did that mistake, but I just sent out my first round letters. Hopefully that hard inquiries gets removed. Thanks for the help Brandon! Will post results soon..

  4. Awesome videos, Brandon. I'm taking your advice concerning the challenging of student loans (requesting original instrument of indebtedness in its original form). We have two student loan organizations (3rd or more party) after us. The one was smart and stayed silent when I sent them a debt validation letter and demand to settle account, but the other one keeps sending a copy of a "promissory note," which is no good. I'm gonna hit them one more time with your wording and see how they respond. Did you ever have to threaten to sue any of your "servicers?" It seems that they do not know any better, but I am sure it's them hoping I don't. Thank you in advance, Buddy.

  5. your right cash is king I learn the hard way when I lost my job could pay for some months the repo truck took it at night things change we can never tell the future

  6. I've had very bad experiences buying an used car…On the other hand, I've had great experiences when buying a new car. I agree that credit unions may be able to give you a lower interest rate in most cases. I almost died in an accident cause by a problem with a used car I have bought for exactly $5k.

  7. So true. I wish I knew this when I was just starting out. I lost 5 years working two jobs to pay a car note. Never again. My next car will be under 7k.

  8. i recently went to purchase a brand new car i wish i would have seen this video before i went. and my credit dropped 13 point my question is with your program can you remove hard inquiries??? and other accounts

  9. Do I use the same letters from the 609 website to get rid of hard inquiries; or is there a different route?

  10. Hi. I have a collection that hasnt moved to a 3rd party yet. The original creditor is not open to a pay-for-delete. This creditor is very popular and extremely stubborn based on the reviews of other consumers. My question is, could I dispute the inquiry to have the collection removed?

  11. DARRRRNNNNNNNNNNNN!!!!!!!!! THIS HAPPENED TO ME LAST JULY! THE GUY AT HUYNDAI SAID HE WAS GONNA "CHECK" MY CREDIT SCORE… BUT HE ACTUALLY RAN MY CREDIT WITH 7 DIFFERENT COMPANIES FOR A CAR LOAN! YET I DIDNT KNOW THIS AND HE DIDNT TELL ME , SO WHEN I RECEIVED ALL MY DENIED FINANCIAL CAR LOANS I CALLED HIM BEYOND PISSED AND TOLD HIM I DIDNT ALLOW HIM TO RUN MY CREDIT WITH ANY COMPANY!! I DIDNT GET A CAR I DIDNT EVEN LOOK AT CARS ! so now i have 7 hard inquiries on my credit report!

  12. Hey is it a good idea to print out an up to date credit score and take it to the dealer to stop them from running my credit? Will this work?

  13. Happen to me also. Worked so hard to get my credit score where it is today and now all the hard inquiries have knocked it down. It should be a law against it.

  14. I GOT CRAPPED ON 20 TIMES IN ONE DAY BY ONE DEALER. I SPECIFICALLY ASKED THEM TO SEND IT TO A FEW PLACES BECAUSE I WAS FEARFUL OF WHAT THEY DID.

  15. I joined a credit union got preapproved funds through them. Walked into the dealership knowing what my max was and used that to guide me in what I should get. The salesman I got was awesome once I told him I had my own financing, all we had to was look at cars. I already knew what I wanted, he showed me the invoice and what they paid for the car and negotiated from there, I never told them how much I was preapproved for…not their business. What was funny was their finance manager trying to run my credit…kept saying he could get me a better deal…blah blah. I KNEW my credit situation and I already knew there was no way he was going to beat it. Politely told him no thank you three times. He finally shut up and I left with the car.

  16. I wish I saw your video 4 years ago before I bought my car… your. Videos should be in middle schools cuz this is very important

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