donaldblake
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Outside financing
- Thread author donaldblake
- Start date
I can’t find anything under 3%. Even credit unions
Things have been fluctuating unpredictably lately including APR, gas, groceries, etc! This is par for the course, unfortunately— Inflation is increasing and there is no relief in sight. Suppliy and demand market has been abnormal. Waiting or being aggressive brings no reassurance! Welcome to postpandemic and war time economy. I just cannot suggest/recommend anything at this time—even to my family and friends! Your present circumstances will dictate your next move—necessity of buying a car. However, just as I mentioned earlier, waiting or rushing doesn’t provide reassurance given our current state of economy (inflation). Thanks.
So I just secured 2.99% through my credit union - however, I am confused - they are asking for the Bill of Sale - but I haven't purchased the car yet - it comes in on the 22nd. When I explained that I haven't purchased yet they said "no problem once you have the bill of sale forward it to us for review and then you can come in to get the check."
How would I get the bill of sale first before getting the check to purchase the car? Also, the dealer is out of town so it's not like I can make trips back and forth. I am confused.
How would I get the bill of sale first before getting the check to purchase the car? Also, the dealer is out of town so it's not like I can make trips back and forth. I am confused.
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No! Obviously the dealer is not going to sell you the car without the check! Your credit union has already approved your loan and therefore they will cut you the check. That fund will be released after the purchase— the dealer will fax or email the bill of sale to your credit union. You must give the dealer the credit union contact person’s call number and email (normally the one who approved your loan). That credit union person will know your case and will be expecting the call or email. Thanks and good luck!
The loan officer said I need the bill of sale then I need to come in and pick up the check. I don’t understand how that can happen unless I get a bill of sale before the sale. I’m traveling 7 hours to buy the car. How does the dealer get the check if I’m not bringing it with me?
Telluride90803
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I live in CA and buying a car in CO. My local credit union said the vehicle has to be registered in CA before they will finance it. I’m guessing I’ll have to use Kia financing then refinance.
Is this just my credit union or is this pretty common with no way around it?
Is this just my credit union or is this pretty common with no way around it?
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I think the dealer is gonna send me paperwork today. I emailed the bank asking what happens if I can’t get a “bill of sale” before the sale, she has yet to respond. Hopefully the dealership will send me what the bank is looking for without any hassle.
I’m still confused as to how I can obtain a bill of sale before buying the car but I guess I’ll find out.
jodo
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I've never heard of financing asking for a bill of sale before purchasing. That seems odd. I financed through Navy Fed at 2.29%. They sent me an envelope with all the documents, blank check, and full instructions for myself and the dealer. Very smooth and simple process.
Maybe it's different if you already have your vehicle "chosen" but I just applied for pre-approval at a certain price point which allowed me to basically buy ANY new vehicle as long as it was no more than the pre-approved amount.
Maybe it's different if you already have your vehicle "chosen" but I just applied for pre-approval at a certain price point which allowed me to basically buy ANY new vehicle as long as it was no more than the pre-approved amount.
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I got it all worked out - luckily the dealership i'm dealing with is no hassle. They sent me the bill of sale unsigned - it satisfied the lender. But i did need to put the lender on my insurance policy with an effective date of tomorrow even though i don't pick the car up or own it until next week (pain in the ass).
The lender said that alternatively if it was going to be a hassle i could finance in-house then re-fi with them. The 2.99% rate i think is the best i was gonna get (at least from the advertised rates I am seeing today) so i wanted to lock it in
The lender said that alternatively if it was going to be a hassle i could finance in-house then re-fi with them. The 2.99% rate i think is the best i was gonna get (at least from the advertised rates I am seeing today) so i wanted to lock it in
