Hello Tony

I did fill out the so called "credit application form."

I asked the salesman "I am not financing, why am I filling out a form entitled 'Credit Application'?" He said "We just have customers fill them out anyway."

Now I feel like I've been deceived into allowing them to run a credit check when I know I'm not going to take out a loan, so my score suffers. The deal was made on Sunday and I was reluctant to fill it out.

I told them "I can come back with a certified check on Monday," but they said "No, you don't need to do that" and demanded I give them my social security number or "we can't do the deal."

The financial part of the form now reads 1 Installment, "N/A" for Rate, "N/A" on Interest Rate after I raised hell at the time, but the part was not left blank. If you meant "truth in lending" form by "loan papers," I wasn't presented with such forms.

I called them expressing my concern that it's been over a week and my check has not been cashed. After that "credit application" and "backup financing plan" I feel that they may be stalling the process for whatever reason.

The finance guy's response was "We send checks to our corporate office, we're not sure how long it will take." It's been 10 days and still my check is not cashed. They're eager to get you to buy and they want the cash flow. What's with this delay?

Thank you

Answer:

Hi Again,

Well, if you signed a credit application this jerk undoubtedly ran your credit. There's no sense worrying about it now. Next time you'll know better.

Always remember, when dealing with a car dealership you are the one who is in total control. All you have to do is get up and walk out. There are plenty of honest car dealers out there who would love to have you as a customer.

Stop worrying about them putting a car loan through on you. As long as you didn't sign an actual loan contract spelling out all the details of the loan then you have nothing to worry about.

As far as the check not being cashed who knows what they are doing. You're right in that cash flow is very important to any business. So I don't get that part of it.

A worse case scenario would be that the finance guy sent your application to a bank and got you approved for a loan. Then he printed out the forms and forged your signature. He never turned your check in to the office, because he's hoping to make a commission on the loan!

Like I said, this is just a worst case scenario. I'm sure he didn't do this, because if he did when the crap hits the fan he will be out of a job and in jail!

Just to play it safe you may want to call the Office Manager and ask if they are processing your check. Don't go through the Finance Manager. The Office Manager keeps track of all the money and paperwork. This person can verify that your deal has been processed as a cash deal.

Good luck and let me know how you make out.

Tony Iorio