Financing and factory order process??

[RobPaulson]

So i ordered my 3.5SE MT coupe on the 6th of this month (at least thats when the dealer called to confirm the order actually went in). The only problem is a big part of why i bought this car is because of the financing they are offering.

the 3.9% financing is only available until the end of the month the dealer tells me. And they cant 'lock in' an interest rate without the VIN# of the vehicle.

I still dont have a delivery date, and the end of the month is dangerously close, i NEED This 3.9% rate or i almost wont be able to afford this car. Anyone have any ideas?

I was hoping the dealer could check for when the car is actually produced and get a VIN# before it actually arrived. But all i can think is this is a GREAT opportunity for the dealership to twiddle thier thumbs while my clock counts down and they nail me with a 8% interest rate when my car comes.

so is there ANY way to lock in this rate since the car has been ordered and ive already put money down on it?

[JAFO]

Yes, just tell the dealer that you will not purchase the car unless they give you the agreed upon finance rate. It's as simple as that.

If they can't "lock-in" your rate (which is total horse**** to begin with) right now, then ask for your deposit back and leave. You only ordered the car because you thought you were getting the 3.9%, so don't buy the car unless they offer it to you.

And, if you do walk, don't let them take ANY of the "deposit" you put down either (don't know why you put down a deposit in the first place...).

[RobPaulson]

oh no . . . i was afraid i was gona get a response like this . . . damn damn damn.

. . . anyone else on whether this story of the VIN# they fed me was horse-**** or not?

[{WBK}Viper]

My dealership told me the same thing about the vin...but I told them thatthey had to agree to my terms or I wouldn't take delivery. They said therewas no way that they could guarentee the terms, but they were happy tolet me walk if we cant when the delivery date arrives.

Gotta do this stuff ahead of time, or they'll try to screw you. BTW...there isno way that they can keep your deposit, unless you already signed something.

[hopetriumphs]

this is a classic dealer A$$hole scenario if you really want the car and they want to raise your rate then find a lawyer to threaten with. if you dont want to go through the trouble then walk away. start negotiating with another dealer in your area and do let tem know your situation. the dealer mght very well just let you go because they know they will sell the car within a couple weeks of arrival because the coupe is a HOT car.

you could also threaten and go to the better business bureau. but all of these options are worst case scenario, if you had a good experience so far then stay cool and talk a lot to the manager, not your salesman.

[RobPaulson]

My dealership told me the same thing about the vin...but I told them thatthey had to agree to my terms or I wouldn't take delivery. They said therewas no way that they could guarentee the terms, but they were happy tolet me walk if we cant when the delivery date arrives.

Gotta do this stuff ahead of time, or they'll try to screw you. BTW...there isno way that they can keep your deposit, unless you already signed something.

OK im gona say this now, this was my FIRST new car purchase, i thought i did my homework and was safe but these guys still found a way to trick me.

I signed something with a price on it . . . (the price we negotiated, which was damn good 29,000 for a fully loaded 3.5 6MT) and left $500 there down on it. The reason i did this is because i (idiot) didnt believe how long it was going to take for delivery, I was absolutely convinced it wasnt going to be THAT hard to get my car in a month. But i was wrong.

My salesman also keeps trying to get me to change my mind and go for the CVT every time i call them to check on a delivery date. So i get the feeling im not locked into anything yet . . . but i signed something (not at work so i cant look at the actual paper).

I am definitely going to the dealership today and discuss this with the sales manager . . .
Modified by RobPaulson at 11:02 AM 6/24/2008

[JAFO]

If they don't have the VIN yet, then you haven't committed to anything. The form you have to fill out to make your purchase "official" is the long form with all of the information on it (make, model, VIN, pricing, options, taxes, a bunch of crap to initial, etc.). Basically, until you and the dealer sign that form AND you drive the car off of the lot, the dealership is still the owner of the vehicle.

They probably made you fill out some other internal document to say that they money you put down is toward ordering the car (although most dealerships order cars weekly. I don't see why they couldn't include the vehicle that you wanted in their order!). Anyway, there is no way they can hold you liable for that vehicle until you meet with the finance guy and fill out the official, legal paperwork. If you have a good finance guy, he will take his time to explain everything you are signing to you. If he doesn't do this, ask him to explain everything to you. If you're unsure of something he says (e.g. "Just sign it now and we'll lower the rate later!"), make him put it in writing and sign his name to it!

[Driftcardotnet]

Sounds like they are talking out of their ***... I work at Surf City nissan in huntington beach, ca. I am wondering they even ran your credit because those super low interest rates are usually given to people with "well qualified" credit, i think that means around a 700 or more.

Also, in order to buy a car, you need a stock number, vin, yada yada, i am not sure yet if they can get that. but if i were you i would go in there, speak to the finance manager, find out what is going on. further more, i would have them put what ever your 3.9% rate guarantee in writing. but meanwhile i would call another dealer.

if you're financing , its good to have 1/3 down because the prefered bank will give you a lower interest, and a lower monthly, the more you paydown the lower that monthly will get.

figure its $260/month per $10,000 borrowed.

[quick_shift]

I order my car in April and they told me they needed a VIN also, didn't get the VIN until a week before it was suppose to arrive.

Honestly though I think the financing will still be there when the car comes in, if not better. They just started offering financing last month in prep to get rid of the '08 to make room for the '09, I'm assuming, but I'm not sure.

[RobPaulson]

Sounds like they are talking out of their ***... I work at Surf City nissan in huntington beach, ca. I am wondering they even ran your credit because those super low interest rates are usually given to people with "well qualified" credit, i think that means around a 700 or more.

Also, in order to buy a car, you need a stock number, vin, yada yada, i am not sure yet if they can get that. but if i were you i would go in there, speak to the finance manager, find out what is going on. further more, i would have them put what ever your 3.9% rate guarantee in writing. but meanwhile i would call another dealer.

if you're financing , its good to have 1/3 down because the prefered bank will give you a lower interest, and a lower monthly, the more you paydown the lower that monthly will get.

figure its $260/month per $10,000 borrowed.

I did meet with the finance guy, and he did 'approve' me for the 3.9% rate. He took all my info like SSN, license etc, and said i was approved for the 3.9%, but he could not lock it in since they do not have the VIN. UGH yesterday was busy so I didnt get to the dealership . . . but today im going straight there from work

UPDATE: just walked with my dealer, he said if i stick with my special order im most likely going to have to wait for an 09. october. awesome.
Modified by RobPaulson at 7:48 AM 6/25/2008