Question about downpayment

[sutliffhl21]

I was approved for a 2006 Ford Mustang GT through a ford dealer in another state. I havent even caled him back yet on it. My question is, since they're ordering it from the factory, do I have to give them the downpayment before or after taking delivery of the vehicle? If they order the car from ford, I would pay the downpayment when I pick up the car, right?

[hoapres]

You will need to read the contract. At a minimum, I would insist on a cancellation date which gives me the right to cancell the contract. If the dealer says "I can get you the car in 6 weeks" then I would say "fine, if you insist on getting the downpayment then I want the right to cancell in 10 weeks". If your vehicle is a "hot commodity" then you may have to put the downpayment upfront as the dealer may take the attitude "if you don't do it my way then goodbye". Also, if the dealer does special order the vehicle and you don't take delivery then the dealer has to sell the car to someone else.

[MarvBear]

I was approved for a 2006 Ford Mustang GT through a ford dealer in another state. I havent even caled him back yet on it. My question is, since they're ordering it from the factory, do I have to give them the downpayment before or after taking delivery of the vehicle? If they order the car from ford, I would pay the downpayment when I pick up the car, right?

<{POST_SNAPBACK}>

 

 

For the approval to remain valid, you will have to take delivery before 30 days are up from the time of the approval.

 

As far as the giving of the downpayment, that would need to be worked out between yourself and the dealership, whatever you both feel comfortable with.