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Old 10-14-2013, 07:54 AM   #1
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Default consumer credit application requirement

I am buying a audi s4, I am paying it off full and do not need financing, is it required for me to still fill out a audi consumer credit application? My dealer is saying that it is required but I am unsure. Does anyone know if it is a requirement?

Thanks
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Old 10-14-2013, 08:50 AM   #2
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Are you trying to launder drug money? I woulds assume that your money would be good. Don't know why you would need to fill out a credit application if you are not using credit. Money talks . Bull$hit walks. If the dealer wants the sale, I think he can work around it.
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Old 10-14-2013, 09:07 AM   #3
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That seems pretty silly. My dealer asked me up front if I was paying cash or wanted financing, so I know you don't *need* to fill out any forms

Besides, you don't want too many credit checks showing up on your record.
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Old 10-14-2013, 09:27 AM   #4
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Are you sure it's a credit application?

They ARE required to submit forms to the government for any cash purchases above a certain amount (I think it was like 10K?) which prevents illicit sales from folks who have obtained the money through less than legal means...

This was, the government can see your cash spending at year end, and it will flag if you have a lot of cash purchases, but relatively low income without justification.

This IRS link goes into more detail:

http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Report-of-Cash-Payments-Over-$10,000-Received-in-a-Trade-or-Business-Motor-Vehicle-Dealership-Q&As
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Old 10-14-2013, 09:36 AM   #5
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If it a credit application, you do not need to fill out. I had a dealer tell me i needed to fill credit paperwork out. I was using a credit union to pay the dealer. I had an approved loan through them, buy the dealer told me i still needed to do their paperwork. I told them that if that was the case i would go elsewhere to buy a car. All i needed them to do was fax the purchase agreement to my credit union. The salesman did not know that if i already had financing elsewhere i didnt have to fill out paperwork

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Old 10-14-2013, 09:36 AM   #6
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Quote:
Originally Posted by Hiyo528 View Post
I am buying a audi s4, I am paying it off full and do not need financing, is it required for me to still fill out a audi consumer credit application? My dealer is saying that it is required but I am unsure. Does anyone know if it is a requirement?

Thanks
I paid cash at delivery for my S4. No credit application was required...just drivers license and Michigan insurance.

i can't think of a reason this information would be needed and i wouldn't provide it.
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Old 10-14-2013, 11:39 AM   #7
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What state are you located in? I'm in California and I paid off the car as well but they still had to run that credit check. But I didn't fight them too hard on it.
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Old 10-14-2013, 01:12 PM   #8
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I'm in CA too, and had to complete a credit app in order to write a personal check in full for my last car.
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Old 10-14-2013, 02:55 PM   #9
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If paying with a certified bank check, no credit app should be required anywhere, just a drivers license and possibly proof of insurance. And unless you're paying with $20 bills, I can't imagine the govt. would care one whit how you're paying for your car.
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Old 10-14-2013, 09:32 PM   #10
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There is a law that requires the dealer to report any cash transactions above $10,000 to the federal government. It's been that way for decades for the banks, but more recently they expanded it to include other things like cars.

That said, the dealer doesn't need you to fill out any forms for this whatsoever. It's their responsibility, not the buyer's.
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Old 10-14-2013, 09:32 PM
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