Guarantees Credit Approval. Financing Guaranteed. We finance Anyone. We will Get it Done.

Guaranteed Credit Approval

Consumer Fraud and False Advertising:

Guaranteed Credit Approval. Financing Guaranteed. We finance Anyone. We will Get it Done.

Guarantee Credit Approval.  Be wary and get help if you see this advertisement

You hear those advertisements all the time on the radio and TV. Credit Guaranteed. All you need is a job and pay stub. Rebuild your credit. Any deal.
There is no such thing as guaranteed credit. There is no such thing as guaranteed credit approval. Each and every transaction must be reviewed by a bank or lending source. The bank or the lending source make a decision to extend credit based on the credit score, your job and any one of numerous other items that might be applicable to the bank’s lending standards.

So when you hear the aforementioned promises or representations that there is guaranteed credit approval and all you need is a job or some type of pay stub this is quite frankly more likely than not false. Does it make sense that the bank would lend you money when you are not qualified to borrow the money. Absolutely not. Banks have lending standards. They do not lend money to anybody.

Banks make money by lending money and they rely upon the dealer to have a credit application created.  The dealer really cannot guarantee anything – nothing at all, it is not their their job to get eh financing done expcept for buy here pay here.  So why would the dealer advertise such an advertisement.  They do this to get you into the dealer and make a deal with you and a deal that get them profit and gets them paid.  That is how that make money and that is how they profit on the deal and this si why they make this advertisement.

Have you ever seen a lender make these promises?  NO WAY, as a true lender would never make these promises  to anyone, ever because you really cannot make such a promise in good faith. It makes no sense to make this false advertisement to anyone ever.  It is really that simple.  Generally this is something you should ignore when doing you car shopping.  This is something you should ignore when planning you budget and your financing.

 

So when you hear:

Guarantees Credit Approval. Financing Guaranteed. We finance Anyone. We will Get it Done.  Run run away because if a promise is too good to be true it usually is.

So use your best judgement when shopping and you see one of these advertisement by a car dealership.

 

 

 

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