Quote:
Originally Posted by garcmol
I talked of this earlier. But JR, how many banks do you have on speed dial in an effort to get that sale? Hope practices have changed but a dealer dropped my score by mass mailing the credit app to 11 banks. This was years ago and I've recovered since. I just don't want Vesi going door to door bank shopping and completely ruin his score. That's all.
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That's shotgunning the credit. Actually we will only submit to one bank at a time at my Dealership. If we have to submit to more than three we let the customer know. But truthfully, I've done this long enough to have a general idea on what going to need from customer to get approved, my sales manager has been doing it long enough to structure deal right, and my finance manager has being doing finance at the same dealership for 32 years and she knows which bank to send to with which structure. Usually get approved first shot.