买车，dealer都需要查信用# Automobile - 车轮上的传奇
w*t
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刚和dealer交涉，可否不查信用。
即使不贷款，dealer也需要查信用。信用分数会因为hard pull 降低。
查到这个，共享：
Under the Patriot Act and other Federal Laws, a Dealership is considered a
banking institution and MUST establish identity for all of their customers
they do business with.
1- A dealership may Need your SSN for titling and registration.
2- A dealership will need it for cash transactions greater then $9,999.99.
Under the USA Patriot Act, Auto Dealerships were specifically defined as
Financial institutions, and were then forced to maintain a rigorous customer
identification program.
A credit application is the easiest way for a dealership to utilize a
Customer Identification Program- as mandated by law.
http://www.privacyrights.org/fs/fs31-CIP.htm
A HUGE MISCONCEPTION IS:
The establishment of "customer identity" procedures is to establish that the
customer is who he says he is. You are correct that a credit report rarely
has information that makes that easier. That is not the point of the laws.
The reality is that the customer identification protocols are to make sure
that the person is not on a "Banned" or watch list. That the institution is
actually doing business with someone that they are legally allowed to.
Customer Identification Programs were introduced via the USA Patriot Act.
The NIADA tried to get an exemption for car dealerships but it did not go
through.
http://www.fincen.gov/statutes_regs/frn/comment_letters/
The NADA also chimed in
http://www.fincen.gov/statutes_regs/frn/comment_letters/
A nice summary of requirements is here:
http://www.m-s-lawyers.com/CM/Publications/PatriotActImp
A NIADA summary of how/why and what dealerships must do to remain compliant
with federal law is here:
http://www.niada.com/PDFs/Publications/USAPatriotAct.pdf
Information about Customer Identification Programs (CIPs) is available here:
http://www.privacyrights.org/fs/fs31-CIP.htm#2
Please understand that it is MANDATED that EVERY CUSTOMER the dealership
sells a car to be checked against OFAC, and that a dealership maintains
records of not just the person and the transaction bit also that the records
were checked. Not checking on one Customer is a minimum $50,000 fine.
http://www.ofaciq.com/Auto%20Compliance%20Sheet.pdf
Important to note:
If you are bringing your "own" financing it is probable that the dealership
does not truly need to establish identity since the institution you are
using has already done this. By the same thought, since the fine is $50,000
for not obeying federal law I am quite sure the Dealership is doing it to
ensure complete compliance with the law and also to simply to cover their a$
$ets. Either way it is the cost of doing business for both you as a consumer
and the dealership in this day and age. Talk to your congressman or senator
if unhappy.
A credit report costs money, if you were leaving with the car anyway why
would the dealership spend unnecessary money on the deal?
A credit report shows all inquiries. FICO SCORING only counts them as one.
即使不贷款，dealer也需要查信用。信用分数会因为hard pull 降低。
查到这个，共享：
Under the Patriot Act and other Federal Laws, a Dealership is considered a
banking institution and MUST establish identity for all of their customers
they do business with.
1- A dealership may Need your SSN for titling and registration.
2- A dealership will need it for cash transactions greater then $9,999.99.
Under the USA Patriot Act, Auto Dealerships were specifically defined as
Financial institutions, and were then forced to maintain a rigorous customer
identification program.
A credit application is the easiest way for a dealership to utilize a
Customer Identification Program- as mandated by law.
http://www.privacyrights.org/fs/fs31-CIP.htm
A HUGE MISCONCEPTION IS:
The establishment of "customer identity" procedures is to establish that the
customer is who he says he is. You are correct that a credit report rarely
has information that makes that easier. That is not the point of the laws.
The reality is that the customer identification protocols are to make sure
that the person is not on a "Banned" or watch list. That the institution is
actually doing business with someone that they are legally allowed to.
Customer Identification Programs were introduced via the USA Patriot Act.
The NIADA tried to get an exemption for car dealerships but it did not go
through.
http://www.fincen.gov/statutes_regs/frn/comment_letters/
The NADA also chimed in
http://www.fincen.gov/statutes_regs/frn/comment_letters/
A nice summary of requirements is here:
http://www.m-s-lawyers.com/CM/Publications/PatriotActImp
A NIADA summary of how/why and what dealerships must do to remain compliant
with federal law is here:
http://www.niada.com/PDFs/Publications/USAPatriotAct.pdf
Information about Customer Identification Programs (CIPs) is available here:
http://www.privacyrights.org/fs/fs31-CIP.htm#2
Please understand that it is MANDATED that EVERY CUSTOMER the dealership
sells a car to be checked against OFAC, and that a dealership maintains
records of not just the person and the transaction bit also that the records
were checked. Not checking on one Customer is a minimum $50,000 fine.
http://www.ofaciq.com/Auto%20Compliance%20Sheet.pdf
Important to note:
If you are bringing your "own" financing it is probable that the dealership
does not truly need to establish identity since the institution you are
using has already done this. By the same thought, since the fine is $50,000
for not obeying federal law I am quite sure the Dealership is doing it to
ensure complete compliance with the law and also to simply to cover their a$
$ets. Either way it is the cost of doing business for both you as a consumer
and the dealership in this day and age. Talk to your congressman or senator
if unhappy.
A credit report costs money, if you were leaving with the car anyway why
would the dealership spend unnecessary money on the deal?
A credit report shows all inquiries. FICO SCORING only counts them as one.
