[DeAmazing1]

They want you to back out of the deal, So they can turn around and sell it marketed up 20-30k over sticker. The bank will ask for a bigger down payment if anything. Now asking for a payment before the contract is signed, sounds like a RED FLAG. Dealer/salesman sounds shaddy.

 

[DeAmazing1]

**** no. I paid a $1K deposit to order the car and that was it.

Exactly, same here.

 

[Caddy59]

No way don’t pay them till you get it, that’s just shady business on their part..

 

[HemiMetal]

I know you're paying cash, but request an auto loan consultation with your bank anyway and present the dealership's demand. It would be interesting to hear a response from a lending institution. I think the dealership may be trying to hose you because you possibly indicated to them you'd be paying cash, Sounds like they're trying to rope you in so you won't back out on a cash deal.

 

[Sarna March]

What if the car is stolen, damaged or defective when it arrives?

It sounds like the car IS as described above.
The whole "End of the Hemi" that causes so much rejoicing in the ranks of the criminally insane, evidently, also has seemed to bring out the worst avaricious and dishonest behavior of car dealers.

 

[Houston713]

A deposit is quite normal. A demand for full payment before inspection and delivery is NOT.

 

[HemiMetal]

has seemed to bring out the worst avaricious and dishonest behavior of car dealers

WHAT? Is that even possible? I didn't think there was a layer beyond their normal appetite for greed.

It must be like the Boss level of an FPS game!

 

[Dragon009]

The dealership is full of s**t. I have ordered multiple vehicles and you are not allowed to start paying for them until the vehicle reaches the dealership. My last order was a '21 SS and I was afraid I was going to miss out on the 0% for 72 so I asked if I could do the paperwork and start paying for the car before it arrived. I was told the reason why you can't do the paperwork and start paying for the vehicle before it arrives is because if the car gets damaged in transit or something else happens to it you would be stuck with it. So no bank will do a loan on a vehicle until it arrives at the dealership.

 

[Big Swede]

You have already made at least two big mistakes so don’t make anymore. Never tell them you’re paying cash by the way.

 

[oldjonny]

You have already made at least two big mistakes so don’t make anymore. Never tell them you’re paying cash by the way.

At some point you would have to tell them you are paying cash. Why do you say that?

 

[Rockster]

In November, 2022, I placed an order with an out of state dealer for a 2023 Challenger Hellcat, Redeye, Standard Body. I agreed to pay a modest ADM since the version of the car I wanted was tough to find allocation for. I gave the dealer a deposit for the car and waited.....
My order was processed in February 2023, and scheduled for production in March 2023 with an estimated ship date before the end of March 2023.
The salesperson got in touch with me today and said that dealership policy was that for the 2023 orders, the dealership wants to get paid once the ship date is available, regardless of whether you are paying cash, financing, or leasing. I confirmed this with the sales manager, who was polite, but firm on the policy. I'm paying cash, but essentially this means that someone financing or leasing could possibly make a payment or two before they even get their car.
Is this the new normal? I have bought a few new cars and done custom orders twice before in 2020 for a ZL1 Camaro and 2015 for Jeep Wrangler. Those custom orders never meant I was expected to pay in advance before the car was delivered.
If I pay, I wonder if I can get the car insured ahead of time in case something goes awry?

Some of what the salesperson said is I believe incorrect.

As I'm sure someone has already noted I seriously doubt a bank will finance a car that has only a ship date.

Even if I was paying cash no way I'd pay in full.

Now I just the other day agreed to buy a new car (a 2023 BMW M2 6-speed) that is still on the truck on its way from the port of entry to the dealer which is located around 200 miles from me and in a different state.

Prior to agreeing to buy the car I discussed numbers and trade in and such. Was emailed this info and printed out the attachments and confirmed all the new vehicle details were filled in: Model, VIN, year, color, trim, price; and all my trade in vehicle details were filled in. Checked the math.

Signed the document.

There was a 2nd document which was a partial payment authorization form. I filed this out with my credit card info to submit a $2000 partial payment.

Also requested was a copy of my driver's license and proof of insurance.

When the car arrives and after the official model launch date (April 12) when the factory removes the sales embargo on the new cars (April 15 I'm told) then I drive to the dealership and complete the purchase. I'm paying the balance due on the new car with a personal check so I'm a cash buyer.

(Oh, car is a showroom car only. The car will not be driven except that which is necessary during shipping. This is estimated to be under 1 mile.)

I scanned the documents and sent a PDF of the scanned documents.

Salesman said he received the document just fine and it was what was needed.

I note as of today the there has been no partial payment charge appear on my credit card. I get an alert whenever a card not present transaction occurs. Also, if the amount of the transaction is over $100.

We'll see how this goes...

 

[Rockster]

At some point you would have to tell them you are paying cash. Why do you say that?

Yeah, pretty much a salesman will want to know how one intends to pay for the car and this question will be asked early on.

I am "vague" not committing to one payment method or another but at some point one has to come "clean" and let the dealer know how one intends to pay for the car.

I have an idea of what I should be able to get the car for and what I'm willing to pay for the car (often one and the same thing) so I don't agree to the deal unless I like the numbers.

 

[MJS73]

The whole "End of the Hemi" that causes so much rejoicing in the ranks of the criminally insane, evidently, also has seemed to bring out the worst avaricious and dishonest behavior of car dealers.

What it's brought out is very high demand and limited supply, a condition that results in higher prices and, yes, customer will complain that they have to pay more for their car. It's the opposite of low demand and high supply, where dealers offer to sell cars below MSRP but customers demand to pay sticker anyway.

 

[Slidd]

At some point you would have to tell them you are paying cash. Why do you say that?

Since the dealer gets a kickback on the financing and you want him thinking he is getting this kickback, it is probably best to delay telling him you are paying cash until the last moment and after you have agreed on a price.

If they balk at this or if you can get a better discount by financing through him, then go ahead and do it as long as you can refinance later.



Sent from my SM-N960U using Tapatalk

 

[Big Swede]

At some point you would have to tell them you are paying cash. Why do you say that?

Not until the deal is done. Your salesman doesn’t need to know how you’re paying so get the deal done and once you head back to the finance guy you can tell him cash.

When the salesman asks say you are using your own financing unless you guys have a better rate. They will think they have you because they will have a better rate than most financial institutions will have because they work on volume.

It’s amazing when you tell them you have your own financing how quickly they magically start finding better finance rates. They never give you their best deal up front unless they think you are going with someone else.

When I was younger and still financing I had many finance guys ask me what rate I got so they could barely beat it. No how about you tell me your best rate and we will go from there.

 

[zaimer]

1. Who determines what the payment is, if there are no financing terms? (a payment could be $2,500 or it could be $250)
2. No, it is typically not "normal" to make an actual payment before taking delivery of the car.
3. I believe a vehicle MAY be contracted/sold once a vehicle as been invoiced. However, many dealers will not allow that to take place.. due to the many potential issues with that situation.

 

[Cold Gas]

Just finance it and pay it out after you take delivery. Not likely the finance company will advance funds on a vehicle that’s not there yet. But if they do make sure you have insurance on it because if it falls off the truck you are on the hook for it.

 

[ericedelman]

Since I posted 3 days ago there has been a resolution to my situation.

I insure my cars through Hagerty, and Hagerty's underwriters agreed to insure the car using the VIN and my buyer's order from the dealership. So as of this morning, I was able to obtain stated value coverage for the car, and I went ahead and wired the money for the car to the dealership. They confirmed the wire and will be sending a FedEx package to a notary service for me to sign, take care of sales tax, and title / registration.

And hopefully, the car will get to the dealer by May. Since I'll already own the car and have insurance, maybe I'll fly down and drive the car home once it arrives.

In November, 2022, I placed an order with an out of state dealer for a 2023 Challenger Hellcat, Redeye, Standard Body. I agreed to pay a modest ADM since the version of the car I wanted was tough to find allocation for. I gave the dealer a deposit for the car and waited.....
My order was processed in February 2023, and scheduled for production in March 2023 with an estimated ship date before the end of March 2023.
The salesperson got in touch with me today and said that dealership policy was that for the 2023 orders, the dealership wants to get paid once the ship date is available, regardless of whether you are paying cash, financing, or leasing. I confirmed this with the sales manager, who was polite, but firm on the policy. I'm paying cash, but essentially this means that someone financing or leasing could possibly make a payment or two before they even get their car.
Is this the new normal? I have bought a few new cars and done custom orders twice before in 2020 for a ZL1 Camaro and 2015 for Jeep Wrangler. Those custom orders never meant I was expected to pay in advance before the car was delivered.
If I pay, I wonder if I can get the car insured ahead of time in case something goes awry?

 

[Xylander]

Since I posted 3 days ago there has been a resolution to my situation.

I insure my cars through Hagerty, and Hagerty's underwriters agreed to insure the car using the VIN and my buyer's order from the dealership. So as of this morning, I was able to obtain stated value coverage for the car, and I went ahead and wired the money for the car to the dealership. They confirmed the wire and will be sending a FedEx package to a notary service for me to sign, take care of sales tax, and title / registration.

And hopefully, the car will get to the dealer by May. Since I'll already own the car and have insurance, maybe I'll fly down and drive the car home once it arrives.

Extremely poor performance sir.

 

[Fastcar4me]

I thought all last call redeyes were widebodys?