When to apply for financing

[Davel518]

When did everyone start applying for financing? I want to shop around, and have an EDD that's quite soon. But given the goatrodeo, when happens if I find financing and it takes another month? I assuming terms are only locked in for a short time.

 

[Akamai58]

When did everyone start applying for financing? I want to shop around, and have an EDD that's quite soon. But given the goatrodeo, when happens if I find financing and it takes another month? I assuming terms are only locked in for a short time.

I would recommend using a credit union - lower rates and mine was good for 90 days.

 

[jph05v]

I applied for financing a week before my 7/19 build date to get pre-approved. Little did I know that I wouldn't get the car until 10/5 so the application expired 60 days after. Sometimes they can extend for another 60 days but it may hit your credit record again. My situation is more complicated since I purchased out of state so I just got whatever financing the dealer offered (2.7%) to take the car and I'm going to refinance once I get it registered in my state with my credit union which can normally match or beat the dealer's deal. (The CA registration is required by my credit union to get it financed by them). Getting a "pre-approval" is the most important if you are not sure if you're on the edge as far as qualifying so you know what your options are.

 

[Davel518]

Ok makes sense. Didnt realize the offers were good for so long. Guess I'm doing that next week!