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Message
Stupid vehicle purchase question
Posted on 1/27/14 at 2:53 pm
Posted on 1/27/14 at 2:53 pm
This has not happened yet but I was curious what the results would be.
Let's say I sign a buy order for a vehicle. It goes to financing but financing falls through...am I liable for the purchase still at that point?
Let's say I sign a buy order for a vehicle. It goes to financing but financing falls through...am I liable for the purchase still at that point?
4
Posted on 1/27/14 at 2:56 pm to lsufanintexas
Normally you only put a deposit up for the vehicle to be built. I would assume they set your financing up before placing the order though.
Posted on 1/27/14 at 2:57 pm to LNCHBOX
No it's a used vehicle purchase.
Posted on 1/27/14 at 2:58 pm to LNCHBOX
quote:
Normally you only put a deposit up for the vehicle to be built. I would assume they set your financing up before placing the order though.
not in my case
i put a 500 dollar deposit down to order my truck
we agreed upon a price (contingent upon current rebates), and nothing else was done until the truck came in
i could have easily chosen not to buy, but would have likely been out 500 bucks.....they would have probably allowed me to use that 500 on another vehicle, though it never came up in conversation
Posted on 1/27/14 at 3:26 pm to lsufanintexas
Not a failed financing issue, but I put a $500 deposit to hold a vehicle oout of town until I could get there on the weekend.
Drove to Atlanta, vehicle was not as advertised so I didn't purchase. Good thing I put deposit on credit card, they weren't going to give me my deposit back.
Drove to Atlanta, vehicle was not as advertised so I didn't purchase. Good thing I put deposit on credit card, they weren't going to give me my deposit back.
Posted on 1/27/14 at 3:46 pm to lsufanintexas
No, you are not.
This happens quite often. You'll walk with the vehicle before the financing is finalized. The next day they'll call you back and say they could not get the rate you agreed to due to X, Y, Z (such as first time buyer restrictions) and you'll have to resign at new rates, or return the car.
This happens quite often. You'll walk with the vehicle before the financing is finalized. The next day they'll call you back and say they could not get the rate you agreed to due to X, Y, Z (such as first time buyer restrictions) and you'll have to resign at new rates, or return the car.
Posted on 1/27/14 at 4:06 pm to LSUtigerME
quote:
You'll walk with the vehicle before the financing is finalized.
Any dealer that does this is out their minds...
Posted on 1/28/14 at 8:38 pm to Coach Guidry
quote:
Any dealer that does this is out their minds...
It's called a spot delivery and is quite common, if not the norm.
Posted on 1/28/14 at 9:04 pm to lsufanintexas
Have your money in order before you go.
I know Capital One has a car loan program and they will approve you for so much. You walk in and speak from cash instead of "what my payment be" crap.
I know Capital One has a car loan program and they will approve you for so much. You walk in and speak from cash instead of "what my payment be" crap.
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