Possible to complete purchase before delivery?

[jazzmanmonty]

Like many of you i have a 60 day rate lock from my credit union, but it expires August 16th. They way things are going, idk if my Pro will make it here by then. Also, the looming interest rate hike is not looking good for us.

Has anyone ever completed the purchase before a vehicle was actually delivered? I wanted to get some feedback before i make the proposal to my dealer.

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[broncoaz]

I doubt the dealer will do it. With as many vehicles being damaged In transit it would be a nightmare if the truck didn’t show up or showed up damaged,

 

[Griddlez]

Feds meet next week.... following this thread.

 

[MapleMan650]

My dealer said no. My loan rate expires on 8/1 and my truck was supposed to be delivered 7/9-7/15. Still a no show with no info from Ford. I think it’s being held up locally by a lack of convoy drivers. Nothing I can do but sit and wait…

 

[Griddlez]

My dealer said no. My loan rate expires on 8/1 and my truck was supposed to be delivered 7/9-7/15. Still a no show with no info from Ford. I think it’s being held up locally by a lack of convoy drivers. Nothing I can do but sit and wait…

And that ^ is exactly the reason why buying before getting is frightening. Beyond the truck getting destroyed in transit.

 

[Bandit216]

There are two different issues here - when you complete the car loan and when you pay the dealer.

I applied for my car loan, it was approved, and I received the bank draft the same week the truck was built. The bank draft was good for 90 days. The truck wasn't delivered for 6 weeks after build so I made one truck payment before I had actually received the truck. The dealer was oblivious to all this. I gave them the bank draft and I got the keys. There would be some inconvience if the truck had been delayed beyond 90 days but I locked in my sub 2.5% loan rate this way. I used Navy Federal Credit Union. You will need see if your lender sends the payment device thru you and see how long the payment method will be valid.

Any good lender will have a procedure if the purchase isn't completed - cars are destroyed enroute, buyers die or change their mind, etc.

 

[DarkAirforce]

I completed the full purchase and my truck has not shipped yet. I was in the same boat as you and the Dealership said they will gladly take my money and if the truck comes damages, then they will have to ship it back to ford and I will have to wait a little longer for my truck. At this rate, I might end up making the first payment before the truck gets here though since it has yet to ship.

 

[RickLightning]

There are two different issues here - when you complete the car loan and when you pay the dealer.

I applied for my car loan, it was approved, and I received the bank draft the same week the truck was built. The bank draft was good for 90 days. The truck wasn't delivered for 6 weeks after build so I made one truck payment before I had actually received the truck. The dealer was oblivious to all this. I gave them the bank draft and I got the keys. There would be some inconvience if the truck had been delayed beyond 90 days but I locked in my sub 2.5% loan rate this way. I used Navy Federal Credit Union. You will need see if your lender sends the payment device thru you and see how long the payment method will be valid.

Any good lender will have a procedure if the purchase isn't completed - cars are destroyed enroute, buyers die or change their mind, etc.

This is exactly the route to take ^^^^

I completed the full purchase and my truck has not shipped yet. I was in the same boat as you and the Dealership said they will gladly take my money and if the truck comes damages, then they will have to ship it back to ford and I will have to wait a little longer for my truck. At this rate, I might end up making the first payment before the truck gets here though since it has yet to ship.

This is exactly the route NOT to take ^^^^

 

[DarkAirforce]

This is exactly the route to take ^^^^



This is exactly the route NOT to take ^^^^

That depends on your bank, my bank pays the dealership not me. So I would not have been able to do option 1.

 

[RickLightning]

That depends on your bank, my bank pays the dealership not me. So I would not have been able to do option 1.

Sorry, you misunderstood my point.

IMO, buying a vehicle that is not yet delivered, not in the dealership's hands, and may in fact never arrive, is a big mistake.

Paying on that vehicle before you have possession is a financial decision. I also don't agree with that, but less of an issue than the first point.

My Mach-E was supposed to be built in December. Then January. Got finished on March 1st. Didn't ship until May. 50.4 weeks. Had I taken title and started paying on a loan in January or February, that would have been a really bad decision.

Also to note - you cannot take the tax credit until you have put the vehicle in service. So anyone thinking they can do this in December 2022 to get the full credit and take delivery in 2023, well that would be tax fraud.

 

[Pioneer74]

I completed the full purchase and my truck has not shipped yet. I was in the same boat as you and the Dealership said they will gladly take my money and if the truck comes damages, then they will have to ship it back to ford and I will have to wait a little longer for my truck. At this rate, I might end up making the first payment before the truck gets here though since it has yet to ship.

Vehicles that are damaged do not get shipped back to the assembly plant. They are fixed by the dealer.

 

[DarkAirforce]

Sorry, you misunderstood my point.

IMO, buying a vehicle that is not yet delivered, not in the dealership's hands, and may in fact never arrive, is a big mistake.

Paying on that vehicle before you have possession is a financial decision. I also don't agree with that, but less of an issue than the first point.

My Mach-E was supposed to be built in December. Then January. Got finished on March 1st. Didn't ship until May. 50.4 weeks. Had I taken title and started paying on a loan in January or February, that would have been a really bad decision.

Also to note - you cannot take the tax credit until you have put the vehicle in service. So anyone thinking they can do this in December 2022 to get the full credit and take delivery in 2023, well that would be tax fraud.

Aww I see what you are saying. Then its all a financial decision. Either way you will get a vehicle, its all about timing and can you afford a car payment without the car.

Vehicles that are damaged do not get shipped back to the assembly plant. They are fixed by the dealer.

Roger, dealer vice ford corporate then.

 

[broncoaz]

Vehicles that are damaged do not get shipped back to the assembly plant. They are fixed by the dealer.

Depending how bad the damage is the vehicles sometimes get scrapped rather than fixed. A group of Broncos were recently totaled by a hail storm.

 

[Pioneer74]

Depending how bad the damage is the vehicles sometimes get scrapped rather than fixed. A group of Broncos were recently totaled by a hail storm.

That is true.

And on another forum, a member stated that their dealer was getting painted parts from the assembly plant to repair shipping damage. That doesn't happen either. The dealer paints them.

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