There are many commercials on television promoting certain auto sales, such as MK auto sales, which announce that they give auto loans with no money down and bad credit. This is especially true on late night television. I decided to call them one night just to see if they were promoting truth or just using an attention getter.
The person I got on the phone I asked a certain question, “Hello, I just wanted to ask you about the commercial which states no money down for any auto loan regardless of credit problems.”
The response I got started out with a “yes” and within about 10 minutes they asked me for my social security number for a credit check and how much money I would be putting down. You can imagine my surprise. I reiterated the commercial and specific quotes from the advertisement and again they insisted that they had to run a credit check. This was only the first subject I tackled.
“Why would you need to run a credit check if all credit issues do not matter to the eligibility of the loan?” Unfortunately no one could answer this after being transferred to several people.
I was then asked how much I was willing to put down on the auto loan. I did first explain that I was not interested in buying a car, I was merely interested for future reference if there was any truth in the auto sale pitch. They said they could not help me without some percentage on the table as a down payment on the loan.
