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Old 03-03-2016, 01:40 PM   #1
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taking delivery before the loan funds?

About to pick up a new 8329ss tomorrow. The loan, as of this morning, has not been funded (did the deal on Saturday, this past week-end).
Part of the deal is trading in our current trailer.

I am uncomfortable trading in the old trailer and taking the new trailer if the loan has not yet been funded.

Any thoughts?
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Old 03-03-2016, 01:45 PM   #2
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If you do not have the money... I'd hold off. Once they have your trailer and lets say your loan falls through now they have YOUR old trailer and it is up to you to get it back... Is the loan through them or your bank?
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Old 03-03-2016, 01:47 PM   #3
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Thanks Doc, the loan is through them....
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Old 03-03-2016, 01:48 PM   #4
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Without the check from the bank; you have no deal.
Never sign anything until you are ready to close.
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Old 03-03-2016, 01:49 PM   #5
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I'd still be leary.. I am sure it will work out but... They do not get your money until you get theirs..
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Old 03-03-2016, 01:52 PM   #6
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With out a doubt WAIT.

IMO the dealer is pushing it.
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Old 03-03-2016, 01:57 PM   #7
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Wait! Once they have unit and you have theirs, they can come back and tell you they can get the loan, but a higher rate . I would wait. Something does not sound right.
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Old 03-03-2016, 02:03 PM   #8
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I'd wait for your loan to go through. I never buy till I have my loan. Later RJD
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Old 03-03-2016, 02:47 PM   #9
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Thanks everyone, I think waiting and confirming the funding first is the way to go.
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Old 03-03-2016, 02:57 PM   #10
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Quote:
Originally Posted by Flybob View Post
Wait! Once they have unit and you have theirs, they can come back and tell you they can get the loan, but a higher rate . I would wait. Something does not sound right.

X2^^^^

This is usually a process that during business hours is all done electronically and takes less than 20 minutes start to finish from hard pull of credit file until you have a firm approval. Some of the larger banks can do it 24/7 in real time. Something does not sound right or your dealer is using Bedrock Savings and Loan or the Slate Rock Quarry Credit Union?
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