Quote:
Originally Posted by LookBothWays
Just got off the phone with a dealership. I was asking about this promotion and the finance credit of $2500 on the 5 series and was told the finance credit to be locked in would be contingent on actually applying for the loan at this time and that any deposit would be forfeited even if the car were delivered with missing options or length of time since ordering if I didn't take the car. Does this sound right?
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Here is my current experience. Granted I have purchased several cars from this Dealer/SA. I believe only time I ever had to do a "token" deposit was when I did ED several years ago, otherwise never had to place a deposit. Dealer does need to run a Credit App to lock in current rates and promotions. If when you pick up your car and rates/promotions are better then dealer should run a new application and apply current rates/promos.... I doubt things will be getting better for the time being. I locked my deal in September and since then programs have gotten worse and MF has gone up twice so far, so it looks like I'll be using Sept Programs at this point.
Local laws might affect "deposit rules" I believe in California dealerships are required by law to give back your deposit (not 100% on that) Personally I would never work with a dealership that would not refund a deposit, especially in this market where Dealerships need and are selling every car they have. Average Days on lot for a new car is sitting at 9 days from my understanding.