Dealer Wants Finance Pre-Approval Before Blackwing Order

[OLoft]

Hi All,

Just curious if anyone has had a dealership request finance pre-approval and $1k deposit to put in an order for a Blackwing? Is this normal? I'm familiar with the deposit, but not sure about the pre-approval. Sales rep couldn't give me answers.

 

[RDATLTE]

Hi All,

Just curious if anyone has had a dealership request finance pre-approval and $1k deposit to put in an order for a Blackwing? Is this normal? I'm familiar with the deposit, but not sure what the pre-approval. Sales rep couldn't give me answers.

That could quite possibly hurt your credit rating if it's not almost immediately followed up by a vehicle purchase.

 

[OLoft]

That could quite possibly hurt your credit rating if it's not almost immediately followed up by a vehicle purchase.

Exactly. I kept explaining that it does not make sense unless I can get vehicle in the next 30 days or so. I also prefer using my credit union for financing anyway. They were trying to push me into using their system to get the pre-approval. Seemed shady to me.

 

[1Evil55]

I'd be searching for a better dealer. They shouldn't care about your credit right now. Worst case for them is they'd get to sell yours as new but with a big mark up.

 

[RDATLTE]

Exactly. I kept explaining that it does not make sense unless I can get vehicle in the next 30 days or so. I also prefer using my credit union for financing anyway. They were trying to push me into using their system to get the pre-approval. Seemed shady to me.

My dealer couldn't even match let alone beat my credit union. Maybe, a preapproval letter from your credit union would suffice.

 

[SIX 40]

Yeah, that's weird. I had a similar experience recently at one of my local BMW dealers. We were talking about submitting an order for a new car and as I left he handed me an option sheet and credit app. I was like "what do you want me to do with this?" I went somewhere else anyway but I did think it was strange. He didn't even have an allocation yet.

 

[Paynster]

Pardon me but your dealer is stupid. Dealers all over America are trying to stock this thing. If you do not qualify when it is delivered then they can ADM it.

 

[Blackwing86]

Makes sense but doesn’t at the same time. They are trying to qualify you. (Make sure you CAN buy it) however it will hurt your chances at an approval later as they are only valid for 30 days

 

[quikag]

Just tell them you are paying cash.

 

[sandstrs]

find a new dealership. pronto.

 

[vblkwng]

You should just use Sewell obviously lol

 

[Tall Steve]

You should just use Sewell obviously lol

They really are taking good care of me for sure

 

[Texas Draped]

Hi All,

Just curious if anyone has had a dealership request finance pre-approval and $1k deposit to put in an order for a Blackwing? Is this normal? I'm familiar with the deposit, but not sure about the pre-approval. Sales rep couldn't give me answers.

Just go through another dealer. Are you young? Think that's the problem? Other dealers aren't doing this. This car is selling and people can't even get their hands on allocations as it is. They're being rediculous.

 

[OLoft]

Just go through another dealer. Are you young? Think that's the problem? Other dealers aren't doing this. This car is selling and people can't even get their hands on allocations as it is. They're being rediculous.

Not too young, 35, and this was over the phone and email as well. I did use a different dealership to put my order in so now I’m just waiting…