Lustine Dodge Informative - Do not trust this dealer.

Review by Motorcycle guy on 2007-02-08
WOODBRIDGE, VIRGINIA -- Went looking for a car several months ago with my son and he found a Dodge Ram that he liked. I was in the process of refinancing and was taking some cash out but the refinance was not completed at the time. I was going to provide my son the down payment. I told the sales manager and finance person what I was doing and that I did not want any credit inquires on my credit report. This should not have been a problem since I was not going to be on the loan anyway. A week later and before my refinance was finished I was informed by my loan officer that 8 credit inquires were conducted by Lustine Dodge without my consent. This nearly caused me to be declined as the inquires reduced my credit scores. No one at Lustine could provide me with an explanation as to how this occurred. Now I know why Lustine lost their 5 star rating. Don’t trust Lustine to do the right thing.
Comments:6 Replies - Latest reply on 2007-02-09
Posted by Shakra on 2007-02-08:
I'm curious, JayD. Where do you get your information re: the loss of points on a credit report? I'm wondering because I do know that you should not have any credit checks on your report for two years prior to buying a house because it affects your credit standing a lot.
Posted by BobJohn on 2007-02-08: Illinois Attorney General - "inquires affect have a very small impact on your credit score"
Posted by Sail27 on 2007-02-08:
The question is - how did they do a loan inquiry without your social security number or personal information (or did they have it?)? If they did an inquiry without your authorization - you may be entitled to recover damages as it's considered ID theft in some states
Posted by Slimjim on 2007-02-08:
I'd like to know why they did 8 inquires. Whether small or large affect on credit, the dealer knew they do, or at least could, have some impact. Couldn't they have done one and make copies.
Posted by tander on 2007-02-08:
I don't understand why they were making inquiries on you when you weren't buying the truck. And I've noticed that Jay D is always so negative with posters, no matter what they say.
Posted by Shakra on 2007-02-09:
I couldn't get up that site, BobJohn. However, I went to a site that wasn't from a particular state. I still don't know where JayD got his information re: actual pts. because I certainly can't find that information. However, he is correct on the small impact to his credit rating.

Here's what I found -

Do inquiries affect a credit score?
Inquiries placed on your credit report when you apply for new credit can impact your credit score. However, inquiries have a relatively small impact on your credit score. In a credit scoring model, there are stronger indicators of future payment performance, such as past payment history and use of credit. Inquiries are rarely, if ever, the only reason for poor credit scores. They only become significant if there are other issues already lowering your score, such as late payments or very high debt.

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