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Old 06-06-2013, 04:52 PM
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credit check prior to ordering?

I understand WHY but alot can happen in 2 1/2-3 months interest rates change, offers change, companies change who they do financing with etc.

I asked the requirements to order a 2014 and they want a credit check and $500 deposit. I will be approved so im not worried about that. Just would rather wait until the jeep is ready to be delivered so i can go and find my own financing.

Can I say I will just be providing 3rd part financing through my credit union? seems kind of silly to have a hard pull on my credit 3 months before the jeep comes in and im not even sure if ill be financing through my CU or PNC, whoever has the best interest rates at the time of purchase gets my business. (maybe ally?)

Its not like i get todays interest rate offer of 1.9 right? Its what ever deals are going at the time of delivery, correct?

BTW: its not like i am ordering anything crazy. JKU sport S 6speed manual, ANVIL, Maxtow,connectivity group and hard top. so if life got in the way i can forfeit my deposit and they have a sweet jeep to sell. Not like its some crazy color or off the wall options.

Thoughts?

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Old 06-06-2013, 04:55 PM   #2
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Why would they want to order a Jeep for someone that is not going to be able to pay for it when it arrives? You can lock in a rate now with many folks.

This does not lock you into their financing.

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Old 06-06-2013, 05:35 PM
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well thats my point, im not ordering anything off the wall. and i dont have a problem doing the credit check but seems pretty pointless if im going to be going third party. My CU is offering 1.81 and PNC is offering 1.79 currently beating allys best rate of 1.9.

Why should i have to go through two hard pulls? What if i was paying cash? which I could but money is too cheap to borrow right now

I confirmed with the dealer, Ally does not lock in interest rates. in september when the jeep arrives and the interest is 4% thats what it is.
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Old 06-06-2013, 06:06 PM   #4
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When I ordered my Mustang I secured financing before I went shopping. Then I went to the dealer with a pre approval from CU for an amount about $5k more than I knew it was going to cost me. Then put down my deposit and ordered it. So my credit was only checked by my CU.
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Old 06-06-2013, 06:47 PM   #5
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I ordered with no deposit and no credit check. But the dealer knew I had good financing and I don't believe in deposits over $50. They don't need to do a hard pull on your credit report in order to place an order. And if its Anvil, they KNOW it will sell.
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Old 06-06-2013, 07:04 PM   #6
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Every dealer has different policies. I used to be a manager at a BMW dealer and regardless of what people were ordering we always ran a credit check. Even when someone is paying cash most dealers will require a credit report to check any possible tax liens, past due child support, etc.. If you are adamant about it tell them and see if they waiver...if not try to find another dealer that will work within your request.
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Old 06-06-2013, 07:59 PM   #7
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While a CU will probably give you the best rate, I didn't fare too bad with Capital One. Back in July of 2011, they gave me a rate of 3.75% with their "Blank Check". They gave me 30 days to use up to the max amount they approved me for (I think the minimum was 14k) and the rate was locked in during that time. The dealer didn't require a deposit to place the order. I assume that dealers will vary on that, but I had an existing relationship with them from previous purchases.

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