When ordering a car do you talk financial terms/rates right at the moment or when the car arrives?

 

When the car arrives.

 

Thanks. That gives me time to talk to different banks and credits unions. Actually not sure if ordering tomorrow. It all depends if the V6 Performance Package is available for order.

 

Call / surf around and find the best rate before you even step foot in the dealership. It's like buying a house. It doesn't make sense to shop until the money is lined up. Then, once you are satisifed that you have the best financing deal you can get, give the dealership a chance to beat it.

 

Normally I'd agree with that, but with these 2011 Mustangs I'm not sure. I ordered in February, but my car didn't arrive until July. I had to reapply for the loan again since so much time had passed. Certainly you need to make sure your credit is in order before jumping in. I would suggest just requesting a free credit report and pay the $7 or whatever for the score. This lets you know where you stand. Wait until the car is about to arrive before actually applying.

 

Based on my credit score and down payment I know I can get very close 3.5% with my company's credit union if I open a checking and saving account with them. The problem is if I apply now the rate is only locked for 30 days (like must loan, right?) and the car is arriving who knows when. If I shop around now and get a good rate it will expire by the time the car arrives and then I have to do it all over again lowering my score even more. Something wrong with my thinking? You guys know more about these things than me.

 

Thanks. That is exactly what I was thinking. My credit score should be good but I'll better check it just in case.