Social Security Number to Pay Cash?

QUESTION: Brad and his wife went to buy an $18,000 car with cash. They were told by the dealership to supply his Social Security number to run a credit check on him (which he didn’t want). Does he have to give that information to pay cash?

ANSWER:
Absolutely not.  They can use whatever procedures are necessary to verify the check with your bank, but there's no reason for them to run a credit report.  If I were you and they were demanding a credit check, I would have walked right off the lot.  Why do they need to check your debt worthiness for you to pay cash?  Next time walk away.  There's plenty of other people who will take $18,000 cash.

Jump-Start Your Goals!

Jump-Start Your Goals!

Get our 8-Day JUMP START series and weekly newsletter that are packed with articles and tools to help you win with money.

Learn to Beat Debt

Take Control of Your Money!

The best way to get out of debt and take control of your money is to make a plan! Financial Peace University is that plan!

Find a Class

Thank You!

Your 8-Day Jump Start is on its way to !