Waiting room

[ScareCrow]

Got a terrifying "Notice of Adverse Action" in the mail today postmarked as being from my dealership. It was a very obscure notice with nondescript language stating I was declined for my original finance amount and will either be receiving a worse rate or no loan at all. For starters, my credit is excellent and I had no problem strolling up and financing my Big Bend last summer. Secondly, I placed an order for my BL just last month and haven't even dealt with financing yet.
Immediately called my salesman and let him know. He said a bunch of his customers who place orders have gotten them as they're a government requirement whenever a dealership runs your credit and doesn't offer you a loan on the spot. He assured me it won't affect the financing process at all and not to worry about it. Had a bit of a panic moment imagining my dream vehicle being pawned off to the highest bidder because of some error with financing.

Sorry, couldn't resist..........

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[AGLzaca]

Anyone have any idea why I can't track the vehicle today on the ford.ca site? Others cars are trackable, but not the one I'm waiting for. I don't get any error messages, just the same screen again asking for vin and order number.

Does the tracking functionality occasionally go missing and then come back online?

 

[kyle_conrad]

Of course my BS gets delivered to the dealership the night before I have a 5:30AM flight for a weeklong vacation. Sigh. At least it’ll be a nice present when I get back!

 

[thekingprawn]

Anyone have any idea why I can't track the vehicle today on the ford.ca site? Others cars are trackable, but not the one I'm waiting for. I don't get any error messages, just the same screen again asking for vin and order number.

Does the tracking functionality occasionally go missing and then come back online?

It's pretty hit or miss on the tracker working. I could see mine almost all day at work, but now at home it just reloads the blank page.

 

[lateteetime]

Got a terrifying "Notice of Adverse Action" in the mail today postmarked as being from my dealership. It was a very obscure notice with nondescript language stating I was declined for my original finance amount and will either be receiving a worse rate or no loan at all. For starters, my credit is excellent and I had no problem strolling up and financing my Big Bend last summer. Secondly, I placed an order for my BL just last month and haven't even dealt with financing yet.
Immediately called my salesman and let him know. He said a bunch of his customers who place orders have gotten them as they're a government requirement whenever a dealership runs your credit and doesn't offer you a loan on the spot. He assured me it won't affect the financing process at all and not to worry about it. Had a bit of a panic moment imagining my dream vehicle being pawned off to the highest bidder because of some error with financing.

Why would they run your credit at ordering? They should only do that when they’re actually going to offer the financing. That just hits your credit report with zero benefit. They should not be doing that.

 

[Elegance]

Why would they run your credit at ordering? They should only do that when they’re actually going to offer the financing. That just hits your credit report with zero benefit. They should not be doing that.

I have no idea. They asked to run it so they could ensure I'll qualify for financing. Said it was a usual procedure when placing an order. I see the small ding on my Experian report. Just hoping they don't run it again when I pick up the vehicle.

 

[Jrl]

I have no idea. They asked to run it so they could ensure I'll qualify for financing. Said it was a usual procedure when placing an order. I see the small ding on my Experian report. Just hoping they don't run it again when I pick up the vehicle.

Typically a credit inquiry is good for 30 days . This is standard practice. Anything longer than that is not really proper.

 

[Elegance]

Typically a credit inquiry is good for 30 days . This is standard practice. Anything longer than that is not really proper.

Is there any reason they would have done this? Obviously the vehicle won't be on the lot in 30 days. They told me they wanted to give me accurate information on rates, but we didn't even make it to that discussion. They just said they'd try to get it as low as possible.

 

[JerryC]

Is there any reason they would have done this? Obviously the vehicle won't be on the lot in 30 days. They told me they wanted to give me accurate information on rates, but we didn't even make it to that discussion. They just said they'd try to get it as low as possible.

IMHO, it's information for them to use to decide how much effort to put into selling you a car.
Can you afford the car you want, how hard will it be to get you a loan, etc...

We don't spend money on fancy clothes and shoes and the first time I go to a dealer I get treated this way. It used to upset me now I just smile and let them run my credit and wait for them to start sucking up to me when it comes back. It's not just car dealers, I get this at any place with big ticket items, such as appliance, furniture and tv/stereo (when they still existed) stores.

At my local Ford dealer they know me now and if drop by and want to drive a new car they just toss me the keys and say have fun.

 

[Elegance]

IMHO, it's information for them to use to decide how much effort to put into selling you a car.
Can you afford the car you want, how hard will it be to get you a loan, etc...

We don't spend money on fancy clothes and shoes and the first time I go to a dealer I get treated this way. It used to upset me now I just smile and let them run my credit and wait for them to start sucking up to me when it comes back. It's not just car dealers, I get this at any place with big ticket items, such as appliance, furniture and tv/stereo (when they still existed) stores.

At my local Ford dealer they know me now and if drop by and want to drive a new car they just toss me the keys and say have fun.

Just asked the car sales Reddit and got the same answer. That's wild to me that they wouldn't take my word on my credit and only run it when the vehicle comes in. I've gotta get dinged twice because they have trust issues. I figured trading in the brand new Big Bend would be a good enough indicator that yes, I do in fact qualify for financing.

 

[MHUNTOON]

IMHO, it's information for them to use to decide how much effort to put into selling you a car.
Can you afford the car you want, how hard will it be to get you a loan, etc...

We don't spend money on fancy clothes and shoes and the first time I go to a dealer I get treated this way. It used to upset me now I just smile and let them run my credit and wait for them to start sucking up to me when it comes back. It's not just car dealers, I get this at any place with big ticket items, such as appliance, furniture and tv/stereo (when they still existed) stores.

At my local Ford dealer they know me now and if drop by and want to drive a new car they just toss me the keys and say have fun.

Back in the late 80s I had a close friend who was absolutely loaded. He didn't look like he had much to look at him. One day after a softball game, he asked me if I wanted to go for a ride with him to get a new car. I had nothing else to do, so went along. He never had extravagant tastes, so I wasn't expecting anything flashy. We pulled into a Rolls Royce dealership and he looked at a car that was more expensive (at the time) than many houses. Not a single salesperson approached us until one was sent over to shoo us away. My buddy asked him for the best price they could give him and the salesperson said "more than you can afford" and walked away. We went across the street and purchased a top-of-the-line BMW off the showroom floor. He didn't negotiate, he just went in and said he wanted it and wrote a check. The longest part of the process was them confirming the check was good, which it certainly was. Based on the reaction and treatment he got after they called his bank, the bank employee must've given them a hint at his net worth. We had to shoo them away because he was determined to drive it across the street to wave to the people at the first dealership. They knew they messed up. This is 100% true. Don't judge people like my friend and JerryC based on appearances.

 

[JerryC]

Just asked the car sales Reddit and got the same answer. That's wild to me that they wouldn't take my word on my credit and only run it when the vehicle comes in. I've gotta get dinged twice because they have trust issues. I figured trading in the brand new Big Bend would be a good enough indicator that yes, I do in fact qualify for financing.

I don't know that will hurt your credit much if at all. I was shopping for new car at a couple different dealers. First dealer thought that could take me to the cleaners, pulled a few credit reports over two days and inquired at several banks. They kept trying to give a rate 3 to 4 percentage points too high. I think their goal with credit pulls was to trigger an alarm to prevent me from getting my own financing. That didn't work because my bank approved me for the rate I expected to get.

So I called a dealer 3 hours away about a car on their website, they pulled another report got the interest rate I wanted and delivered the car the next day.

Something I read in sci-fi book, there was society that had no concept of trust. Instead they used "mutual advantage" that's how I define a good relationship with a car dealer.

 

[Elegance]

I don't know that will hurt your credit much if at all. I was shopping for new car at a couple different dealers. First dealer thought that could take me to the cleaners, pulled a few credit reports over two days and inquired at several banks. They kept trying to give a rate 3 to 4 percentage points too high. I think their goal with credit pulls was to trigger an alarm to prevent me from getting my own financing. That didn't work because my bank approved me for the rate I expected to get.

So I called a dealer 3 hours away about a car on their website, they pulled another report got the interest rate I wanted and delivered the car the next day.

Something I read in sci-fi book, there was society that had no concept of trust. Instead they used "mutual advantage" that's how I define a good relationship with a car dealer.

That's fair. I checked Experian this morning and it only dinged me about 3 points. Not the end of the world. I'll have earned it back by the time my vehicle actually arrives. The letter was the scariest part. More upset about the unnecessary panic attack than being credit inquiried twice.

 

[thekingprawn]

Instead they used "mutual advantage" that's how I define a good relationship with a car dealer.

That's how I hope to approach things with my dealership. I want them to do good, honest business so they stay in business.

 

[Gartallica]

My dealership offered me 5k more than what I originally paid for my BB, exactly what Carvana offered. I'm also looking to not pay a crazy amount of state taxes again, so trading it directly to the dealer is my best bet. I'll only be taxed on the difference between my trade value and new purchase price. Thank you though! I've been planning this for quite a bit and was excited they gave me a good offer.

When was this? The offer for my '21 OB dropped quite a bit recently compared to even 5 weeks ago. I won't have negative equity, but now it looks like I'll be closer to breaking even than cashing in.

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