It is very standard to sign papers and give a small deposit. I would not do more than that though. As frustrating as the wait is, it is worth it. I have had my car now for only a few hours, but the November to May wait that seemed unbearable then, now is forgotten. I had a great experience buying it, and it is absolutely amazing. Do not settle for less than what you want.

 

Looks like a whole group of people saw you coming from a long ways away.

No way would I sign loan papers and get insurance for a car that wasn't even ready to be delivered yet, let alone not even being at the dealer yet.

And after about the third month of waiting I would have been finding myself another car.

There are lots of 2012's showing up on dealer lots all over the place. Don't know why they aren't showing up in the pacific northwest but they are in lots of other places.

And almost any dealer in any part of the country will sell you a car and ship it to you so if you want one bad enough you can get one.

 

Just to clarify. Did you just get a preapproval or is the loan in place, ie interest is accruing and you have paid the dealer?

Respectfully,

Roger

 

The bank gave me a cashiers check to give them, no I haven't paid the dealer anything yet.

 

How long is the check good for?

 

Depending on if this was a preapproval check (which accrues no interest), I would go after the dealer for the accrued interest. You are paying interest on something you don't have in your posession. If it was just a preapproval check and you are not accruing interest I wouldn't worry about it. It sounds like they already recorded the sale and took your money, which means they have no "incentive" to make sure you get your expedisciously. I think the guys are just trying to look out for you. Good luck with it and post pics once you receive it!!!!

Roger

 

You are correct; Ford funnelled V8's to the much more profitable F-150's and shorted Mustangs of V8's for awhile a decade ago. Frustrating then - frustrating now.

 

I don't think this was pre-approval. A cashier's check is a negotiable instrument of fixed value. That means he has already done all the contract paperwork at the dealer and they have come up with a final delivery price even though the car hasn't been delivered.

I had one of those pre-approval letters and it's a lot different from a cashier's check. It basically instructs the dealer that I am allowed to sign for a car up to the amount listed on the letter and the bank will issue payment. I was under no obligation to actually buy the car - in fact, I almost walked away on the day of delivery because of not being able to agree on the numbers.

It's a shame nobody explained the process to the OP. For example, assuming you have a currently insured car, you have 30 days to add a newly purchased car to your policy - you don't have to do it before you pick up the car.

 

Until he misses a payment.

I'm waiting to hear about the call saying he doesn't have the car insured so they bought insurance for it and are billing him.