When do you do the paperwork for an ordered car?

beot · 04-14-2009, 09:35 AM

I ordered a new 335 in early April, with an expected delivery date of late May. I was told that my financing was locked in for 60 days (and could be extended to 90 if necessary).

Originally I thought I'd sign all the paperwork in May when the car arrived, but the dealership has now asked me to sign this month--It was suggested I sign this month in case there are any changes by BMW.

I assume that this gets the car on the books for the dealership quicker, and I start paying back my loan sooner (perhaps before I actually get the car), but I can't see what advantage there is to me. I'm don't know what the dealer means by changes by BMW.

What's the general experience? For cars that you ordered, when did you do all the paperwork?

Thanks!

Hyper psi-atic · 04-14-2009, 10:15 AM

This most likely means that you put a deposit on the car that you ordered, BUT you have not signed on the car that you will take delivery when it arrives. Technically, you DONT have to take delivery and would be able to get your deposit back if for some reason your situation changed. They prolly just want to be able to turn in the paperwork to BMWUSA showing that you will in fact take delivery, have your credit app in, and have rates locked in for 60 days. This is the same thing I did. BMWFS does not actually allow for anyone to start paying on any car when it is not in their possession so dont worry about early payments. You would want to lock in the April rates anyways, so this in fact will benefit you more than them.

srcstc · 04-14-2009, 11:03 AM

Are there any downsides to signing before you take delivery?

kgb1637 · 04-14-2009, 12:09 PM

I wouldn't sign the actual paperwork until I saw the car and everything was checked out. All I did to lock in the rates was hand in my credit app and it was good for 60 days, there was no signature and I had every chance to walk away. Talk to your CA and see what he says and see what you're signing.

thegeneral101 · 04-14-2009, 03:21 PM

you do almost everything when you take delivery on the car

beot · 04-15-2009, 09:44 AM

Quote:

Originally Posted by thegeneral101

you do almost everything when you take delivery on the car

Typically, yes, totally agree with you. This is unusual, and I don't completely understand the ramifications. Just trying to figure out if there's any advantage or disadvantage to doing it earlier.

Any idea what changes could be that the dealer is referring to? Could the options available be changed after that car is in production?

I guess the bottom line is that it seems sketchy, but probably innocuous. So, I'm confirming that there's no real advantage or disadvantage to me.

Thanks for the help so far.

2kaccordocoupe · 04-15-2009, 09:45 AM

You do all the signage when you take delivery of the car. When I ordered my car back in November I put down a deposit along with my credit application.

I also put a condition on my deposit that said deal pending test drive. Which means that if I didn't like the car upon delivery and driving I would have a full refund.

04-14-2009, 09:35 AM	#1
beot Registered 2 Rep 4 Posts Drives: None Join Date: Apr 2009 Location: Ohio iTrader: (0)	When do you do the paperwork for an ordered car? I ordered a new 335 in early April, with an expected delivery date of late May. I was told that my financing was locked in for 60 days (and could be extended to 90 if necessary). Originally I thought I'd sign all the paperwork in May when the car arrived, but the dealership has now asked me to sign this month--It was suggested I sign this month in case there are any changes by BMW. I assume that this gets the car on the books for the dealership quicker, and I start paying back my loan sooner (perhaps before I actually get the car), but I can't see what advantage there is to me. I'm don't know what the dealer means by changes by BMW. What's the general experience? For cars that you ordered, when did you do all the paperwork? Thanks!
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04-14-2009, 10:15 AM	#2
Hyper psi-atic Lieutenant 30 Rep 428 Posts Drives: E92 335i M-Sport, 6MT, AW/CR Join Date: Apr 2009 Location: NoVA iTrader: (3)	This most likely means that you put a deposit on the car that you ordered, BUT you have not signed on the car that you will take delivery when it arrives. Technically, you DONT have to take delivery and would be able to get your deposit back if for some reason your situation changed. They prolly just want to be able to turn in the paperwork to BMWUSA showing that you will in fact take delivery, have your credit app in, and have rates locked in for 60 days. This is the same thing I did. BMWFS does not actually allow for anyone to start paying on any car when it is not in their possession so dont worry about early payments. You would want to lock in the April rates anyways, so this in fact will benefit you more than them.
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04-14-2009, 11:03 AM	#3
srcstc Major 82 Rep 1,365 Posts Drives: 2016 Camaro 2SS Join Date: Sep 2006 Location: NJ iTrader: (9)	Are there any downsides to signing before you take delivery?
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04-14-2009, 12:09 PM	#4
kgb1637 Lieutenant Colonel 21 Rep 1,519 Posts Drives: RS5 Join Date: Sep 2008 Location: Baltimore, MD iTrader: (0)	I wouldn't sign the actual paperwork until I saw the car and everything was checked out. All I did to lock in the rates was hand in my credit app and it was good for 60 days, there was no signature and I had every chance to walk away. Talk to your CA and see what he says and see what you're signing. __________________ Retired - '08 E90 335i Sparkling Graphite/Gray Dakota Leather, ZSP, ZCW, ZPP, Navi, ipod, Sat
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04-14-2009, 03:21 PM	#5
thegeneral101 Colonel 77 Rep 2,304 Posts Drives: '15 Z06,'13 750Li,'11 Raptor Join Date: Nov 2006 Location: Miami/Michigan iTrader: (0)	you do almost everything when you take delivery on the car __________________
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04-15-2009, 09:45 AM	#7
2kaccordocoupe Brigadier General 1274 Rep 4,703 Posts Drives: Former ///M Driver Join Date: Nov 2008 Location: The 6ix iTrader: (2)	You do all the signage when you take delivery of the car. When I ordered my car back in November I put down a deposit along with my credit application. I also put a condition on my deposit that said deal pending test drive. Which means that if I didn't like the car upon delivery and driving I would have a full refund.
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