I"M GOING IN!
12/17/04, 05:45 PM
#1
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I'm going in to the dealer tomorrow to test drive an Auto GT and I want to be prepared. I've never bought a new car before, so I a little nervous. 
I got a list of things to think ask about:
1.) If he photocopies my drivers license, can he run an infinate amount of credit checks on me and ruin my rating?
2.) Is $1000 a reasonable deposit? what if he asks for more?
3.) Does he need to do a credit check before he places an order for me?
4.) Do I need to decide whether or not to go through ford credit or my bank when I place my order, or do I worry about that when the car comes in?
5.) Would he cash the deposit before I get my car?
6.) What should I leave the dealer with when I order a car? VIN? DORA? what kind of paper work? Receipts for the deposit?
I just don't want to get screwed somehow!!
If someone can answer all this for me....AWESOME! Thanks in advance!
I got a list of things to think ask about:
1.) If he photocopies my drivers license, can he run an infinate amount of credit checks on me and ruin my rating?
2.) Is $1000 a reasonable deposit? what if he asks for more?
3.) Does he need to do a credit check before he places an order for me?
4.) Do I need to decide whether or not to go through ford credit or my bank when I place my order, or do I worry about that when the car comes in?
5.) Would he cash the deposit before I get my car?
6.) What should I leave the dealer with when I order a car? VIN? DORA? what kind of paper work? Receipts for the deposit?
I just don't want to get screwed somehow!!
If someone can answer all this for me....AWESOME! Thanks in advance!
12/17/04, 06:02 PM
#2
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1 - No one can run a credit check without your permission. If someone attempts this, leave. Remind them not to do so.
2- 500 to 1000 is reasonable, they should not ask for more
3- No credit check is needed to place an order. But you do still need to have a way to pay for it
4- You can get a credit approval now, but they won't lock in rates for more than 30 days so you will have to do it all again when the car comes in. Just be sure you can get approved or have a cosigner if you can't pay cash.
5- Yes, make sure you sign a document stating the deposit is refundable if something goes wrong or you get one elsewhere.
6- Dealers usually order cars once a week - not 24x7. You won't have the DORA until they do, so you might not get it that day. The VIN will be longer. You should have a receipt for the deposit and get ANYTHING THEY SAY IN WRITING. No promises or could be's, just get it all in writing. It's easy to get excited when you are at the dealer...just remain calm, and know you are free to leave at any time - with out without a Mustang. There are other dealers and other Mustangs to buy!
2- 500 to 1000 is reasonable, they should not ask for more
3- No credit check is needed to place an order. But you do still need to have a way to pay for it
4- You can get a credit approval now, but they won't lock in rates for more than 30 days so you will have to do it all again when the car comes in. Just be sure you can get approved or have a cosigner if you can't pay cash.
5- Yes, make sure you sign a document stating the deposit is refundable if something goes wrong or you get one elsewhere.
6- Dealers usually order cars once a week - not 24x7. You won't have the DORA until they do, so you might not get it that day. The VIN will be longer. You should have a receipt for the deposit and get ANYTHING THEY SAY IN WRITING. No promises or could be's, just get it all in writing. It's easy to get excited when you are at the dealer...just remain calm, and know you are free to leave at any time - with out without a Mustang. There are other dealers and other Mustangs to buy!
12/17/04, 06:21 PM
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Yes actually Ford requires to see that the customer ordering the car has the means to pay for it weather it is cash or credit. So you will probably have to do a credit check when you order.
12/17/04, 06:27 PM
#5
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GO TO YOUR OWN BANK OR CREDIT UNION before you go to the dealer. Get your own financing approved before you negotiate for the car. This way they know that you are serious and you may get a better rate than through a dealer.
On the other hand, if you have dodgy credit, a car dealer is a great place to get credit and rebuild your credit history.
If you have fair to good credit find financing elswhere. Just MHO
On the other hand, if you have dodgy credit, a car dealer is a great place to get credit and rebuild your credit history.
If you have fair to good credit find financing elswhere. Just MHO
12/17/04, 07:10 PM
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Thanks for all the advice...
I know I can definately go to the bank and get a better rate. I'll go to the dealer and get a Invoice for the price of the car and then take it to the bank. Then sink down a deposit of no more than $1000.
When people say cash..do they mean money order from the bank after getting a loan?
This site is awesome!
I know I can definately go to the bank and get a better rate. I'll go to the dealer and get a Invoice for the price of the car and then take it to the bank. Then sink down a deposit of no more than $1000.
When people say cash..do they mean money order from the bank after getting a loan?
This site is awesome!
12/17/04, 08:39 PM
#8
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Originally posted by DJEmert@December 17, 2004, 7:24 PM
Yes actually Ford requires to see that the customer ordering the car has the means to pay for it weather it is cash or credit. So you will probably have to do a credit check when you order.
Yes actually Ford requires to see that the customer ordering the car has the means to pay for it weather it is cash or credit. So you will probably have to do a credit check when you order.
12/18/04, 07:48 AM
#9
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I used to work at a dealership and now work for Ford. You DO NOT have to have a credit check run to place an order.
When I went back to place the order for my 05 GT all they required was a $100 deposit to place the order and hold it in my name. It basically helps the dealer know who's serious.
You can put whatever amount you want as a down payment. The only way they may ask for more is because of your credit score. If you have bad credit the bank may ask that you put a larger amount down to lower the total loan amount and create less risk on a monthly basis.
If no deposit was required customers would come in all day long and place orders and then the dealer is stuck. You are not binded to that car in any way until you sing the final paper work.
Don't let them run any BS on you.
Hope this helps.
When I went back to place the order for my 05 GT all they required was a $100 deposit to place the order and hold it in my name. It basically helps the dealer know who's serious.
You can put whatever amount you want as a down payment. The only way they may ask for more is because of your credit score. If you have bad credit the bank may ask that you put a larger amount down to lower the total loan amount and create less risk on a monthly basis.
If no deposit was required customers would come in all day long and place orders and then the dealer is stuck. You are not binded to that car in any way until you sing the final paper work.
Don't let them run any BS on you.
Hope this helps.