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Old 05-31-2015, 08:52 AM   #1
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How long does it take to get dealer financing?

I went to a dealer and gave them 400$ deposit on a new TT and filled out the financing application. The finance guy said we should hear back in a few hours.

That was at 2:30pm on Friday. We heard nothing back from them Friday or Sat. Not even a courtesy call from the sales guy... Who acts like he is my bff.

Anyone know how long it normally takes to hear back from the banks? I don't mind waiting, but it would be nice if the dealer kept me up to date. Thanks
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Old 05-31-2015, 09:05 AM   #2
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Went with the credit union I'm in for the lower rates because of the very short pay off time.

In the past with other dealers word has come down in an hour.

If I was you I'd say thanks but no to the dealers less than courteous CFI and get the monies someplace else.
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Old 05-31-2015, 09:19 AM   #3
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But if I back out now (which I want to) won't they keep my deposit?

Thanks for info/advice also.
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Old 05-31-2015, 09:25 AM   #4
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But if I back out now (which I want to) won't they keep my deposit?

Thanks for info/advice also.
I'm not saying to back out of the deal, just get the monies form some other place.

They keep the deposit you get the TT and perhaps at a lower rate everyone is happy campers....
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Old 05-31-2015, 09:40 AM   #5
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Ok, thanks for the advice. Much appreciated.
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Old 05-31-2015, 10:39 AM   #6
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We get that all that stuff ready before we go into the dealer. We feel we have more bargaining power if we say we have a check to write if we want the camper. A salesman will change his tune real fast when you get up to leave that way.
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Old 05-31-2015, 10:59 AM   #7
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I wouldn't give the dealer the deposit before the papers are signed most cases the dealer knows with in an hour or so if a bank will take the deal
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Old 05-31-2015, 11:01 AM   #8
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**Here is the back story. Sorry its so long.. I will understand if you dont want to read it. But thanks all for the responses. **


The thing that got us was, the sales guy we were dealing with was with a client pretty much all day and did not return our call, so I filled out an online finance application on the companies web site.

Then I called the sales guy and left a message telling him I put an application in for the exact model we wanted. (Which is the exact way I did it for my truck, and they called back within 2 hours to tell me I was approved).

He called later that afternoon and said we were good to go for the price and payment... (Here is where I get stupid), I am thinking awesome they got my application and its good to go.

We go down to the dealer thinking we are good... hes like, paperwork should take no more than 30mins... when do you want to pick up the TT. Again, I am thinking... good to go.

He then passes me off to the financial guy... He starts asking me info for a credit application... I am like, ??? I already submitted one online.. he says he did not receive one. (not getting a warm and fuzzy) but I fill out the info anyway.

He tells me it will take a few hours... have not heard back since... what was Friday afternoon.. its Sunday now.

Wife just texted the sales guy and he like.. "what? The finance guy should have gotten back to you... I will look into it."

The whole thing just does not feel right and I want to run.. but I dont want to lose my deposit (I am assuming if I back out they keep deposit for their troubles).. But I am almost tempted to bite the bullet on this.
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Old 05-31-2015, 11:02 AM   #9
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I wouldn't give the dealer the deposit before the papers are signed most cases the dealer knows with in an hour or so if a bank will take the deal
They said they had to have a deposit to run the financing application... a "good faith" move on our part... and to take that unit off the lot.
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Old 05-31-2015, 11:58 AM   #10
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** This issue has been Resolved**

Thank you all for your info/advice.
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