Does a dealer still need to run my credit if I got preapproval for a loan?

I got preapproval for a car loan from my credit union. When I went to the dealer, they insisted that I undergo a credit check before buying a car. Do I have to submit to this if I already have financing?

Answer
“Yes, most dealers will want to run your credit unless you have a blank check in hand.
Anything less is taking your word for it, which means that most dealers won’t even consider an offer from you.
You can certainly insist that the dealer call your credit union to verify your car loan preapproval, but you may have to run between the dealer and lender to get the loan completed.
That seems like a lot more effort and stress than it’s worth, but if you can get a good rate and avoid being upside down on a car loan, that hard work might just pay off.
Don’t forget that when you finance a vehicle, lenders will require full coverage.
Full coverage can be pricey, but it doesn’t have to break the bank. Using a smart comparison tool like Jerry makes it easy to save money. Jerry does all the hard work for you, pulling quotes from the top 50 companies and delivers the best deals to your phone in minutes.”
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Eric Schad
Answered on Aug 12, 2021
Eric Schad has been a freelance writer for nearly a decade, as well as an SEO specialist and editor for the past five years. Before getting behind the keyboard, he worked in the finance and music industries (the perfect combo). With a wide array of professional and personal experiences, he’s developed a knack for tone and branding across many different verticals. Away from the computer, Schad is a blues guitar shredder, crazed sports fan, and always down for a spontaneous trip anywhere around the globe.
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