Bought a taco from a dealership, now dealership says hey don't have the truck.

So I went into a dealership looking for a certain car. They looked around and said they got one on the way. I said sure and we agreed upon a price. I signed the contract and they ran my credit score for financing.

Two days later I get a call from them and say that there was a mistake and the car belongs to another dealership. I called the other dealership and they confirmed the car is in their lot and belong to their inventory.

The VIN on my contract that I signed for purchase belongs to the vehicle in the other dealership.

Both dealerships do not have relationships with each other.

What are my options?? Am I obligated to buy from dealer 1 who inadvertently sold me a car not belonging to them? Do I have any legal recourse against them for running my credit?

 

You're making a big problem from a small one. Running your credit means nothing while car shopping. You have zero obligation to finalize the purchase since you have never taken delivery.

 

I don't like my credit score being brought down from them running it without even the final delivery and payment.

 

Not sure where you are but since you didn't receive the product, you technically do not own it yet. This is true for my state (CA). If you don't drive it off the lot, its not yours. No recourse against them for running your credit as most likely you gave them permission. They just did it under false pretense of having the truck incoming to them or could really be an honest mistake.

 

It

Its not going to bring down your credit score. You can have your credit ran as many times as it takes while car shopping. Not an issue, longbas you buy a car that is...

 

Well it sounds like they'll simply just "unwind" the deal since they can't follow through on their end. As for them running your credit score and how it will affect it, don't worry about it...it likely won't be noticeable

http://www.myfico.com/crediteducation/questions/inquiry-credit-score.aspx

 

I work for a dealership and there probably isn't much legal you can do but since they don't have the truck they contracted you on the contract is no good go to the other dealer and buy it from them the reason they contracted you on the truck before they had it was to make sure they had a deal if they we're going to have to go get the veh just more work if you say you changed your mind once the truck was there I understand your frustration though but I'm sure they did everything they could to get it but if that's the one you want just go buy if from the other dealer you can buy mine lol it's all done up bad ass and for sale you would
Just have to come to Utah

 

Hard inquires do bring down your credit if you have too many

 

I would get your deposit back if you made one and see if the dealer with the truck you want will match the other dealers offer.

 

Thanks for the information friends

 

http://www.myfico.com/crediteducation/questions/inquiry-credit-score.aspx

According to the link above, you can have up to 45 credit inquiries for the same loan before it will affect your credit. Dealers can shop around for different lenders for your loan, as long as it's for the same loan it won't hurt you.

For example, I bought my '04 from a Toyota dealership last month, agreed to a certain financing percentage and then it was up to Toyota to find a lender willing to finance me at that rate. I've gotten letters from at least 4 banks telling me that they denied the request (all due to the truck being "too old", even though it only has 25,000 miles on it...go figure) but my credit score has not been impacted negatively by the multiple requests. I have a great credit score too, btw...the loan being denied has nothing to do with my credit, just the age of the vehicle.

 

Not when they're related to the same type of transaction. Now if he gets declined or refused on one then yeah it'll suck.

Same thing with buying a house get as many financial quotes as you need, won't hurt anything. Assuming you close a deal.

 

It's within 45 days you can have as many inquiries. so he will need to get it fixed within 45 days. Or the next time he runs credit for a truck it will count as another inquiry.

 

woops, my bad read it too fast....but the point remains that having a dealer run your credit a few times or more won't hurt you, so long as it's for the same loan