Carmentors4u strongly encourages you protect yourself from Identity Theft and that you do not give your personal information to the dealership unless required. The exception here will be when they must validate your identity.

If you have decided to finance with the dealership's sources, then you will have to give them some personal information so they may pull your credit. Make sure that they only pull the Equifax credit bureau, this is the one that the lenders will use to determine your creditworthiness. The importance of this is that the more that your credit is pulled the lower your credit score may go. The other bureaus are not required-Transunion and Experian.

The expression shotgunning your credit, is one that describes the practice of sending your personal information to several banks at the same time. This practice is used to filter through several bank approvals and get the best buy rate.

The more your credit information that is shared, the higher the probability of ID theft. Though there are many safeguards for this information being exposed to the wrong people, the possibilty still exists.

The federal and state laws speak of the rights of the consumer and the responsibilities that the dealers have and should provide you.

It is a great idea to look at your credit on a regular basis and make sure what is reflected is actually yours. If time passes and the information is not purified, this will cost your Money, Time and Energy. NOT TO MENTION THE HASSLES OF CLEANING IT UP.


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