@sbluejean wrote:I wouldn't count on that, I work for a dealership. Trust me, that deal is on the daily doc's as a "Contract in Transit" or on the daily heat sheet. I can almost assure, everyone from the Comptroller on down is painfully aware of that deal.
Eight years as Finance Director tells me they spot delivered the vehicle without an upfront approval and the application was denied (most likely by their OEM captive finance source because of the 1.9% subvented interest rate), or they had an approval but couldn't meet the lender's stips on the deal approval. Either way, that contract hasn't cashed and these folks are riding free.
I would also add that in most states, and because these contracts are assignable by the dealership, until the contract is assigned to a lender and cashed, the dealership is, for all intents and purposes, your lender and can require that you make your payments to them. Not a position any dealership wants to be in, I can assure you. At the very least, that deal has hair all over it, a Finance Manager's nghtmare.
That's interesting information, thank you sbluejean.
