Questions about ordering a new 2024 GT

[Rfox]

So, I have my build plan printed out to go to the dealer, and I have these questions for you guys. Should I have the final out the door price from the dealer first before ordering the car???? Will I have to do all of the paperwork such as financing before ordering, or can I order and then do all of the paperwork when the car comes in??? I know they have said I will need to put down $500 So, will I be legally obligated to take the car when it comes in????? If I can't get it due to something on my part, can I get my $500 back??? I plan on putting say 20 percent down and finance for 24 months or 36 months. I will immediately within 10 to 15 days call Ford Motor Credit and ask for the payoff and pay it off. Does this sound like a good ideal??? Is there a penalty for paying it off early like that????

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[fraziersc]

I can't speak for all dealers, but the one I was potentially going to custom order with did want to go over price and have me sign off on the build sheet/price before they officially placed the order. The price ended up being way more than I was willing to pay because of non-negotiable dealer add-ons, so I canceled the whole process with them at that point.

All financial paperwork (based on the dealers I spoke to) will largely be handled at the time of delivery/purchase of the vehicle since things such as interest rates, your credit score, etcetera can change between now and the time of purchase.

You won't be legally obligated to take the car, but as for getting your deposit back, it depends. Some dealers don't require deposits, and some do. Some will refund your deposit and others won't. The one I spoke to said that there was no deposit to place the order, but should I choose not to take delivery of the car when the time came, then there would be a cancellation fee. They never told me what the fee would be exactly despite me asking repeatedly. I also doubt there would be a penalty for paying the car off early, but then again I am not sure.

 

[Gr8ful]

I ordered a Mustang in Dec and it showed up in Mar. I refused the car car because the tech drove it badly and broke the windshield. They can not force you to buy the car. It may take some phone calls to get your deposit back.

 

[Sofa King]

I ordered a Mustang in Dec and it showed up in Mar. I refused the car car because the tech drove it badly and broke the windshield. They can not force you to buy the car. It may take some phone calls to get your deposit back.

How the heck did they do that?

 

[roadpilot]

I've purchased several dozen new vehicles in my life, and have ordered many of those. I've never had to put a deposit down to order a vehicle. Some do, but NEVER buy from a dealership who refuses to provide a fully refundable deposit. Get it in writing up front!

Cancelation fee? Tell them to pound sand and go elsewhere. Dealerships who try to pull that BS are clowns.

Unless you sign a contract stating otherwise, no, you are not obligated to purchase a vehicle, nor are they obligated to sell it to you.

Finally, unless your loan agreement has a prepayment penalty (most don't, and I'd never sign one that does), you can pay your loan off at any time. I've lost count of the number of vehicles I've initially gone through Ford Credit to get a financing rebate (usually $1K up front), then paid the loan off with my very first payment (usually with proceeds from refinancing it through my credit union).

 

[Skye]

[Q1] Should I have the final out the door price from the dealer first before ordering the car????

[Q2] Will I have to do all of the paperwork such as financing before ordering, or can I order and then do all of the paperwork when the car comes in???

[Q3] So, will I be legally obligated to take the car when it comes in?????

[Q4] If I can't get it due to something on my part, can I get my $500 back???

[Q5] I plan on putting say 20 percent down and finance for 24 months or 36 months. I will immediately within 10 to 15 days call Ford Motor Credit and ask for the payoff and pay it off. Is there a penalty for paying it off early like that????

https://www.mustang7g.com/forums/threads/guide-for-newcomers-ordering-vehicles-at-the-dealer.157583/

A1. It's in your best interest to do so. At a minimum, you should have the price of the car, administrative fees and dealer add-ons (none, unless you want them) negotiated before committing to an order. You should also confirm the dealer supports Price Protection. You and the salesperson are getting all the messy stuff out of the way and avoiding any surprises. Once the order is placed, you can then shake hands and take a break for a few months.

If during talks the salesperson is not clear, end the conversation and begin researching other dealers.

A2. I'd discuss financing options, without committing to or signing anything. Do not let them start an application; they do that sometimes as part of their "process". Maybe Ford is offering a good deal. Maybe not. I'd shop around and get a feel for things from at least one other provider. Without a car on the horizon or even a VIN, the process shouldn't go too far.

A3. No. I've never heard of anyone being held to anything on a car order. Life happens.

A4. Probably. Some states have laws on deposits. If it was a really weird or unique build, something that would potentially be a hard sell to another buyer, they might want to keep it, as a PITA fee. Otherwise, no.

The deposit is one way for the dealer to ensure people are not placing multiple orders and then picking one of many when they arrive. We're looking for a straight shooter when making a deal. The salesperson is looking for the same from us. But they do understand things change, and yes, 99% of the time, you'd get it back.

A5. It's good not to make assumptions. I'd confirm the topic, yes. Some loans do have pre-payment penalties or weird rules when paying back. If they can give you a blank agreement to take back and study, that'd be great.

Edit: Talks at the dealer is probably going to go through any number of things. All your questions and topics, write all those down and take with. You can check them off as things move along.

The new and used car markets currently favor the buyer. If things don't seem right or are moving too fast, end the discussion to return at another date (or not).

 

[Zengineer]

A fully refundable deposit is simply a way to see if you actually have any money at all. Otherwise, what exactly is the point? I paid a grand when ordering my $70,000 BMW with some pretty rare options but the Ford dealer has never asked for one.

 

[GO FSTER]

They should give you an out the door price before you order, that locks in all of the Ford programs that are available at that time, ie financing rates, rebates etc. The benefits being, if these change between ordering and picking up to benefit you, they can redo the deal and get the new programs. I put $500 on my order and the dealer would have let me walk away if I wanted and get it back. You do the financing paper work at delivery since the programs may change in your favor.

 

[Rfox]

https://www.mustang7g.com/forums/threads/guide-for-newcomers-ordering-vehicles-at-the-dealer.157583/

A1. It's in your best interest to do so. At a minimum, you should have the price of the car, administrative fees and dealer add-ons (none, unless you want them) negotiated before committing to an order. You should also confirm the dealer supports Price Protection. You and the salesperson are getting all the messy stuff out of the way and avoiding any surprises. Once the order is placed, you can then shake hands and take a break for a few months.

If during talks the salesperson is not clear, end the conversation and begin researching other dealers.

A2. I'd discuss financing options, without committing to or signing anything. Do not let them start an application; they do that sometimes as part of their "process". Maybe Ford is offering a good deal. Maybe not. I'd shop around and get a feel for things from at least one other provider. Without a car on the horizon or even a VIN, the process shouldn't go too far.

A3. No. I've never heard of anyone being held to anything on a car order. Life happens.

A4. Probably. Some states have laws on deposits. If it was a really weird or unique build, something that would potentially be a hard sell to another buyer, they might want to keep it, as a PITA fee. Otherwise, no.

The deposit is one way for the dealer to ensure people are not placing multiple orders and then picking one of many when they arrive. We're looking for a straight shooter when making a deal. The salesperson is looking for the same from us. But they do understand things change, and yes, 99% of the time, you'd get it back.

A5. It's good not to make assumptions. I'd confirm the topic, yes. Some loans do have pre-payment penalties or weird rules when paying back. If they can give you a blank agreement to take back and study, that'd be great.

Edit: Talks at the dealer is probably going to go through any number of things. All your questions and topics, write all those down and take with. You can check them off as things move along.

The new and used car markets currently favor the buyer. If things don't seem right or are moving too fast, end the discussion to return at another date (or not).

Great information Skye. I will remember it.

 

[Rfox]

Thanks for all of the input on this. Very informative.

 

[roadpilot]

Again, unless you're ordering a unicorn, NEVER put down a deposit without having it fully refundable in writing. Otherwise, walk away - you don't need to do business with snakes.

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