When do payments start when you order a new car?

FordStang

Founding Member

Sep 19, 2002

862

1

0

Orange Park, FL

Mar 24, 2010

#1

• Mar 24, 2010

• #1

Just like the title says.....Im thinking about ordering a 2011 mustang GT and just wondering when do you start making the payments on the vehicle? I've never ordered a car before so I'm kinda clueless how the whole things works? And do they run your credit twice? Like once when you place the order with deposit and then again when u get the car? Also does the down payment need to be given to the dealership when? Thank you!

 

J

Jrodd

New Member

May 18, 2006

29

1

1

Wappingers Falls, NY

Mar 24, 2010

#2

• Mar 24, 2010

• #2

If you finance it through the dealer the payments usually start a month after the day you pick it up. If you go through a bank it could be anytime depending on the bank's policies. Hope this helps.

 

S

stanmckinney

10 Year Member

Mar 30, 2005

1,188

5

49

Mar 24, 2010

#3

• Mar 24, 2010

• #3

They start about a month after you actually get it.

 

SpartaPerformance

10 Year Member

Nov 5, 2006

2,517

61

89

Long Island NY

Mar 24, 2010

#4

• Mar 24, 2010

• #4

One month after you sign the papers

 

G

Gregor111

Member

Sep 23, 2008

95

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6

Spokane, WA

Mar 25, 2010

#5

• Mar 25, 2010

• #5

Often times you have the option to start payments at 30 or 45 days from the date of signing. This allows folks like me with a house payment due on the 1st to have a car payment due on the 15th.

Greg

 

Five Oh Brian

Member

Jun 13, 2007

552

1

16

Pacific Northwest

Mar 25, 2010

#6

• Mar 25, 2010

• #6

When you special order a car, you are typically just giving the dealer a very small deposit. That deposit is typically refundable if you change your mind, or will be added to your down payment when you eventually get the car.

You don't actually pay for - or finance - the car until it arrives. Most loan approvals are good for 30 days, so do not do a credit application until just a couple weeks before the car arrives. Better yet, don't do the credit application until the car arrives.

Most auto loans set the first payment 45 days after the contract is signed. And most lenders will allow you to move the monthly due date to a day of the month that works better for you - if you ask. I almost always pick my own due date, unless it happens to line up okay to start with.

 

FordStang

Founding Member

Sep 19, 2002

862

1

0

Orange Park, FL

Mar 28, 2010

#7

• Mar 28, 2010

• #7

How much does the deposit have to be for the dealer to order this vehicle?

 

walter

Founding Member

Aug 13, 1998

1,054

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46

Houston TX

Mar 28, 2010

#8

• Mar 28, 2010

• #8

One dealer told me the deposit for a special order was one thousand bucks that will be applied to your down payment when the car arrives. Not sure about getting it back if you say no though, I never asked.

 

R

ruffy

Member

Apr 10, 2003

314

0

16

Skopje, Macedonia

Mar 28, 2010

#9

• Mar 28, 2010

• #9

I ordered my late Feb and got the financing done early March. I went through my bank for the financing and they gave me the choice of when I wanted my first payment to begin. I asked for it to start 1 May but, I have already made 3 payments. I want to get it paid off soon as possible. I hate oweing a somebody. I don't know what will happen or what I will do if I get a car I didn't order or some screwy thing happens.

 

M

mfbris

New Member

Feb 18, 2010

12

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0

Mar 28, 2010

#10

• Mar 28, 2010

• #10

My Ford dealer wanted $250 for a deposit which will be applied the the cost of the car when it arrives.

 

FordStang

Founding Member

Sep 19, 2002

862

1

0

Orange Park, FL

Mar 28, 2010

#11

• Mar 28, 2010

• #11

Thanks guys! And last but not least.......Ford will except the "A" plan on this vehicle?

 

Five Oh Brian

Member

Jun 13, 2007

552

1

16

Pacific Northwest

Mar 28, 2010

#12

• Mar 28, 2010

• #12

FordStang said:

How much does the deposit have to be for the dealer to order this vehicle?

Click to expand...

Each dealer is different. Where I work, a regular car like a Mustang V6 or GT is just $100 deposit. Something exotic (SVT or Shelby) is $1,000. Each dealer is different.

 

Five Oh Brian

Member

Jun 13, 2007

552

1

16

Pacific Northwest

Mar 28, 2010

#13

• Mar 28, 2010

• #13

FordStang said:

Thanks guys! And last but not least.......Ford will except the "A" plan on this vehicle?

Click to expand...

Ford is offering A-plan on 2011 Mustang V6's and GT's to eligible A-plan customers, but each dealer can decide whether or not to honor it. We honor it where I work, but there are still dealers out there who don't (although I can't imagine why they wouldn't).