RV News RVBusiness 2021 Top 10 RVs of the Year, plus 56 additional debuts and must-see units → ×


Reply
 
Thread Tools Display Modes
Old 05-31-2015, 07:52 AM   #1
Junior Member
 
Join Date: May 2015
Posts: 10
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
ItsPH8 is offline   Reply With Quote
Old 05-31-2015, 08:05 AM   #2
Senior Member
 
Ford Idaho's Avatar
 
Join Date: Sep 2013
Location: Idaho
Posts: 9,839
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.
__________________
2016 F350 6.7L LB CC Reese 28K 2014 Chaparral Lite 266sab
"Those who would give up essential Liberty, to purchase a little temporary Safety, deserve neither Liberty nor Safety." 2014 19 days camping 2015 17 days camping201620 days camping
Ford Idaho is offline   Reply With Quote
Old 05-31-2015, 08:19 AM   #3
Junior Member
 
Join Date: May 2015
Posts: 10
But if I back out now (which I want to) won't they keep my deposit?

Thanks for info/advice also.
ItsPH8 is offline   Reply With Quote
Old 05-31-2015, 08:25 AM   #4
Senior Member
 
Ford Idaho's Avatar
 
Join Date: Sep 2013
Location: Idaho
Posts: 9,839
Quote:
Originally Posted by ItsPH8 View Post
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....
__________________
2016 F350 6.7L LB CC Reese 28K 2014 Chaparral Lite 266sab
"Those who would give up essential Liberty, to purchase a little temporary Safety, deserve neither Liberty nor Safety." 2014 19 days camping 2015 17 days camping201620 days camping
Ford Idaho is offline   Reply With Quote
Old 05-31-2015, 08:40 AM   #5
Junior Member
 
Join Date: May 2015
Posts: 10
Ok, thanks for the advice. Much appreciated.
ItsPH8 is offline   Reply With Quote
Old 05-31-2015, 09:39 AM   #6
Done with this
 
Join Date: Aug 2014
Location: KY
Posts: 698
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.
__________________

I'm a little too truthful, I guess.
Y'all have fun in "Fantasy Land".
4mula1fan is offline   Reply With Quote
Old 05-31-2015, 09:59 AM   #7
Senior Member
 
iceblaze580's Avatar
 
Join Date: May 2013
Location: Here and there
Posts: 803
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
iceblaze580 is offline   Reply With Quote
Old 05-31-2015, 10:01 AM   #8
Junior Member
 
Join Date: May 2015
Posts: 10
**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.
ItsPH8 is offline   Reply With Quote
Old 05-31-2015, 10:02 AM   #9
Junior Member
 
Join Date: May 2015
Posts: 10
Quote:
Originally Posted by iceblaze580 View Post
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.
ItsPH8 is offline   Reply With Quote
Old 05-31-2015, 10:58 AM   #10
Junior Member
 
Join Date: May 2015
Posts: 10
** This issue has been Resolved**

Thank you all for your info/advice.
ItsPH8 is offline   Reply With Quote
Old 05-31-2015, 11:04 AM   #11
Senior Member
 
Ford Idaho's Avatar
 
Join Date: Sep 2013
Location: Idaho
Posts: 9,839
To your favor I hope!

__________________
2016 F350 6.7L LB CC Reese 28K 2014 Chaparral Lite 266sab
"Those who would give up essential Liberty, to purchase a little temporary Safety, deserve neither Liberty nor Safety." 2014 19 days camping 2015 17 days camping201620 days camping
Ford Idaho is offline   Reply With Quote
Old 05-31-2015, 11:24 AM   #12
Senior Member
 
Join Date: Jul 2010
Location: Waynesville
Posts: 14,305
Did you (BUY) the unit? Yes/NO? Hey I read your story,dont leave us in Mid-Air! Youroo!!
youroo is offline   Reply With Quote
Old 05-31-2015, 11:33 AM   #13
Senior Member
 
CAT-RN's Avatar
 
Join Date: Jul 2014
Posts: 7,228
I hate it when my dog eats the last chapter of a good book!!'

Russell
CAT-RN is offline   Reply With Quote
Old 05-31-2015, 12:31 PM   #14
Member
 
Join Date: Nov 2010
Posts: 37
finance de bockle

well, what did you do
DAPYES is offline   Reply With Quote
Old 05-31-2015, 12:56 PM   #15
Member
 
Join Date: Feb 2015
Posts: 44
Quote:
Originally Posted by ItsPH8 View Post
** This issue has been Resolved**

Thank you all for your info/advice.
If you have credit score over or close
to 800, ask the bank or credit union
for the loan and negotiate int rate,
and offer them direct payment from
your account ( total saving will be around
1 or more % on interest rate ....
Prism 24G is offline   Reply With Quote
Old 05-31-2015, 01:18 PM   #16
Senior Member
 
mike.t's Avatar
 
Join Date: Sep 2014
Location: Western AZ
Posts: 2,338
Quote:
Originally Posted by 4mula1fan View Post
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.
Not what the OP asked.
__________________
2018 Wilderness 2450FB
2021 Chevy Silverado 1500 3.0 Duramax 10 speed
2021 Chevy Traverse LT
2012 Dodge Challenger
If you get to thinkin' you're a person of some influence, try orderin' someone else's dog around.
mike.t is offline   Reply With Quote
Old 05-31-2015, 02:00 PM   #17
Done with this
 
Join Date: Aug 2014
Location: KY
Posts: 698
Quote:
Originally Posted by youroo View Post
Did you (BUY) the unit? Yes/NO? Hey I read your story,dont leave us in Mid-Air! Youroo!!
Quote:
Originally Posted by CAT-RN View Post
I hate it when my dog eats the last chapter of a good book!!'

Russell
Quote:
Originally Posted by DAPYES View Post
well, what did you do
Quote:
Originally Posted by mike.t View Post
Not what the OP asked.
Thank you officer...
__________________

I'm a little too truthful, I guess.
Y'all have fun in "Fantasy Land".
4mula1fan is offline   Reply With Quote
Old 05-31-2015, 02:23 PM   #18
Member
 
Damule's Avatar
 
Join Date: Sep 2014
Location: Mobile, AL
Posts: 37
Just so you know my perspective. Retired military 32years. Been in the car business since 2009. Currently in a non sales management position. The dealer cannot keep your deposit. Nor can they charge you to submit a credit application to the bank. I encourage you to get your deposit back, even if you have to get loud in the sales office, and go to another dealer. I would also recommend you check the interst rates at other sources. Credit unions, your bank. All lenders are not equal. Shop around. Get preapproved for the lowest rate you can. Then if the dealer wants to earn your business in finance maybe they can beat it. Did you know that the bank will pay the dealer for your financing business? Never fall for a sales person wanting to be your friend. A true sales professional wants to earn your business not be your friend.
Damule is offline   Reply With Quote
Old 05-31-2015, 04:50 PM   #19
Senior Member
 
Join Date: Jul 2010
Location: Waynesville
Posts: 14,305
Quote:
Originally Posted by Prism 24G View Post
If you have credit score over or close
to 800, ask the bank or credit union
for the loan and negotiate int rate,
and offer them direct payment from
your account ( total saving will be around
1 or more % on interest rate ....
You Forgot to tell us you write the Handbook for the (IRS) because your reply makes about the Same amount of Sense! Youroo!! I guess some people have a hard time answering a Question with (1) Word! Youroo!!
youroo is offline   Reply With Quote
Old 06-15-2015, 09:36 PM   #20
Member
 
TheDiGs's Avatar
 
Join Date: Jul 2009
Location: Colorado Springs
Posts: 41
OK, is it just me or??? WHY would you give a deposit before you are told the terms of a loan????

Camping World tried that with me, I was only trying to find out if they could beat USAAs rate. When he insisted I needed to put down $1000 deposit BEFORE they told me the terms of the loan...I let them watch my fat behind walk right out the door.
__________________
Me, Him, a bunch of kids and cats, one loud-mouthed parrot, and one spoiled rotten Shih Poo

2009 Chevy 2500HD 4x4 Crew Cab
2014 33' SOB TT
TheDiGs is offline   Reply With Quote
Reply

Tags
dealer

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


» Featured Campgrounds

Reviews provided by

Disclaimer:

This website is not affiliated with or endorsed by Forest River, Inc. or any of its affiliates. This is an independent, unofficial site.



All times are GMT -5. The time now is 12:41 PM.