He leído y acepto los Términos y Condiciones.
By clicking "I Accept" and submitting this application, I (the applicant) acknowledge and agree to the following:
1. FCRA Authorization to Pull Credit
In accordance with the Fair Credit Reporting Act (FCRA), I authorize CVT Auto Dealer and its potential lending partners to obtain a consumer credit report from one or more national credit reporting agencies (Experian, Equifax, or TransUnion). I understand this information will be used to evaluate my creditworthiness for an automotive loan or lease.
2. Equal Credit Opportunity Act (ECOA) Notice
I understand that the Equal Credit Opportunity Act (ECOA) prohibits creditors from discriminating against applicants on the basis of race, color, religion, national origin, sex, marital status, age, or because an applicant receives income from a public assistance program.
3. Virginia Spot Delivery Notice (Conditional Sale)
Pursuant to Va. Code § 46.2-1530, I acknowledge that if I take possession of a vehicle before financing is finalized, the sale is conditional. If the dealer is unable to secure financing at the terms agreed upon, the dealer may cancel the sale. I agree to return the vehicle to the dealer within 24 hours of receiving notice of such cancellation.
4. GLBA Privacy Notice & Data Sharing
I acknowledge receipt of the Privacy Notice required by the Gramm-Leach-Bliley Act. I authorize the dealer to share my non-public personal information with third-party financial institutions to process my request for credit.
5. Virginia Processing Fee Disclosure
I acknowledge that CVT Auto Dealer charges a processing fee of $499. As required by Va. Code § 46.2-1530, I am informed that this fee is not required by law.
6. No Liability Insurance Warning
I understand that any insurance included in this transaction does not provide liability coverage for bodily injury or property damage caused to others. I am responsible for maintaining my own valid Virginia liability insurance.
Why the FCRA mention is important:
Permissible Purpose: Under 15 U.S.C. § 1681b, you need a "permissible purpose" to pull credit. Explicitly mentioning the FCRA shows the customer gave you written instructions to do so.
Adverse Action: If you deny the customer credit later, the FCRA requires you to send them an "Adverse Action Notice." Mentioning the FCRA here prepares the legal trail for that process.
