No Credit Check? Did They Really Just Say That?

No Credit Check Commercial

I was in my car the other day and heard an ad that almost made me drive off the road. It was for a car dealership. The guy on the commercial was saying, no make that practically bragging, that he just sold a car to a woman with a credit score of 518. To make matters worse, he went on to brag even more that he sold her a BRAND NEW car with NO MONEY DOWN!

Are you kidding me? How is this even legal? For starters, if your credit score is that bad you shouldn’t be allowed to so much as buy a pack of gum with a credit card much less finance a brand new car. Heck, I’ve never even bought a brand new car, nor do I intend to. To me selling this woman a new car with no money down is as bad as a bartender selling a few shots to someone who is already passed out. In other words, it’s disgusting.

I can’t imagine the kind of interest rate she was charged. The lower your credit score, the higher your interest rate. Sadly because she now has new debt, her credit score probably dropped even lower. What’s worse is she probably felt like they were doing her a huge favor by letting her buy a car from them. But they weren’t. They were merely handing a really big shovel to someone who is already in a deep hole.

Sometimes I see or hear ads for car dealerships or appliance stores saying, “No Credit Check!” If you hear the words no credit check and are relieved, then the last thing you need to do is go out and get more debt. For a whole lot more information on this, check out my website at http://www.johnfloyd.com.