Dealer question: OFAC and Credit Report?

He came out of his office to talk down to me about this at the open sales area.
He was a complete dick and I gave it back to him in spades.
At least 4 salespeople discreetly thanked me for putting him in his place.

 

Thanks for the suggestion. I've purchased well over 100 new vehicles. I know how to deal with the process.
Typically I just log in my banking app, show them the balance and they ask me if I want to buy a couple more cars.

 

Wouldn't matter how much money you'd have in said account.

Money can quickly and easily be transferred same day, etc.

You come off like a real tool, and you'd be the person that'd get kicked out of a dealership.

Treat everyone with kindness as everyone is fighting their own battle. And humble yourself.

You don't exhibit either of the two.

 

As I think I saw was mentioned before….go to each of the credit bureaus and establish a freeze. It takes 10 min to freeze and about 2 min to unlock it when you need to.

With it frozen, a hard credit inquiry, which are the ones that matter on your credit report, will be denied. It won’t matter if they have your info and try to pull any $hi? without your authorization because they won’t get it. As a matter of fact, one or two of them (don’t remember which) will email you if it’s attempted so you’ll know.

when you need to do a legitimate inquiry, authorized by you, simply ask the creditor which bureau(s) they use and unlock that one for a specific amount of time or day. I’ve done this for over a decade for my financial needs

 

Trust me, this guy was a dick! We will call him "Todd."
I may or may not be ok with it. However, if i wasn't- I wouldn't talk down to the person and treat them like a thief.
I walked away from a custom ordered, loaded F250 diesel solely due to how the dealership handled things after I wrote the check. They called and begged me to come back, I didn't.
I now have the dealership principles cell #, he advised me who to deal with for service or sales. He plays golf every week with my BIL.
When I took the F250 I bought elsewhere for service- service mgr treated me like a valued customer. That's all I really ask for.
I live in a southern city and it would not be difficult to determine my family writes good checks.

 

Back at ya! And with Vette in your user name...
We could all always handle things differently. Again, my actions, attitude and words were a reasonable reaction to the way I was being treated (IMO).

 

They actually block soft pulls too, which is a good thing.

I can understand a dealership wanting to cover themselves by not accepting a personal check for that amount of money. Telling the customer they need to have certified funds or do a wire transfer makes more sense than requiring a credit application if that's what they are truly trying to do. I was a mortgage banker for many years and saw lots of people with tons of cash and not so great credit. OFAC you can't get around but that doesn't require a full credit app.

 

I can handle what I dish out, no worries.

But if the whole thing did start with their staff, then you should've just walked out altogether. Sucks that bad staff like that continue to follow the old stereotype.

 

ok bye......

 

I can agree with that

 

If somebody wrote me a personal check for $45,000, told me “hey man, it’s cool, don’t you know who I am?” I’d tell him to get the hell out, too.

There is so much check fraud I would probably not even trust a cashier’s check.

 

I didn't act that way. Nor did I say anything like that.
Nor was I asked to leave. It was a local bank. Drove there, wrote them a check and they gave me a bank check.
I'm just one of those people that doesn't let F&I guys push me around. When treated fairly I reciprocate. Probably shouldn't let stuff like that bother me. Will work on that.

 

I'm not seeing any tin foil hattage in the thread, just healthy skepticism but I guess that is a matter of perspective. As for a car dealer wanting to run a customer against the OFAC database, that is their prerogative and compliance with Treasury Regulations for any US business is prudent but, as others have stated, a social security number is not needed to check a customer against OFAC. Follow the money. The dealer wants the SSN to run credit for financing deals. That is where their money is: they get commissions on business written with banks.

Your post on your employer having your SSN is a different scenario. Your employer needs your SSN for tax purposes and health benefits. You are receiving both pre and post tax benefits that are required by law to be reported to the government. The only thing that needs to be reported to the government in the sale of the car is sales tax. I don't give my SSN out when I buy a soda and flaming hot doritos at the mini-mart and I wouldn't give it out when I was buying a car unless I was financing the vehicle. Then I would because the bank has to make a credit decision.

• OP isn't relying on the dealer for financing so no SSN needed to check his credit or apply for financing
• OP doesn't need to give his SSN to satisfy OFAC, the dealer can run his name against their database without the SSN
• The dealer needs to make money and their highest margins are on labor for service and commissions from financing deals. They are asking for the SSN so they can ring the register.

It is now, yes. Thanks. Spend more time here and you will find if you are specific in your first post and quote the posts it makes it easier for the community to follow along.

I disagree 100%. The only thing a social is needed for is to run credit. Everything this dealership is asking for could be used to steal his identity which puts him (in my mind) as being a healthy skeptic, not unreasonably or obsessively anxious or mistrustful. Go ahead and post a pic of your DL and Social Security card in this thread for all to see if you think OP is paranoid.

 

I have never worked for or purchased a car where OFAC wasn’t required. Maybe if you buy a car once every 7,869 days it may come as a shock. But everyone I know has purchased a car in the post 9/11 era. You may wanna check out the tin foil hat collection on Amazon and pick one up.

 

That's hilarious. At what point in your car buying process do you get out the ruler?

I hope you're not keeping these giants sums of money in a checking or savings account.

 

Again, I'm unclear on why you continue to reference tin foil hats in the context of OFAC. Please note that nowhere in my responses have I gotten personal; I'm just trying to understand your argument and it doesn't hold up. Nowhere on the OFAC Sanctions List Search is there a requirement to enter your SSN. Please note that I never said the dealer shouldn't comply with OFAC regulations or they weren't warranted. Again, the only reason a dealership should be asking for an SSN is for a credit application. That is it.

Please note that fields marked with an * are mandatory. Note the absence of SSN. Source



Edit: On a separate note, your quote game needs tightening up. Keep what I said between the quote brackets and what you say outside.

 

OFAC? My SSN? Stay outta my private business!

Meanwhile, OPs new truck rolling to the Russian frontline

 

Disagree?

When did I ever state a social was required for an OFAC?

In fact, here's a post within minutes of the one you quoted.

See?

There is one reason why a social would be needed though, which I clarified here -

The pot calling the kettle black.

 

The correct question to ask would have been, "If I fill this out is there a way to designate that it's only for the OFAC check and not for a credit check?" It doesn't take much searching to discover that many dealerships run these processes through a single piece of software or service.

The several days of delay would probably be from having someone manually run the OFAC check and then feed the results back into whatever system they use to document compliance.

I don't blame you for being wary. Dealers love financing kickbacks and I wouldn't put it past some dealers to go right ahead and run your credit to try to sell you financing. For me, I'm just very clear that I don't agree to it and credit hit is a small price to pay to discover who I'm dealing with.