BadGirl
I am so very blessed
The new 'burbs are beautiful!!!!!
I just returned a brand-new 'burb that I had as a rental vehicle. It was schweeeeeet!
Isn't This Kinda Cart Before The Horse?
- Thread starter DEEKAYPEE8569
- Start date
I just returned a brand-new 'burb that I had as a rental vehicle. It was schweeeeeet!
kwillia
n/a
I'm so afraid to test drive a new burb... the awesomeness of a burb plus the new car smell will surely give me urges...
GWguy
*
I'm so afraid to test drive a new burb... the awesomeness of a burb plus the new car smell will surely give me urges...
little bit of a leather fetish, eh?
kwillia
n/a
My current burb is all leather... I seriously prefer cloth seats. If I end up with all leather again I'm going to invest in custom seat covers that let me think my seats are all cloth.
GWguy
*
My Sierra is all leather too. I prefer the leather as it's easier to clean and looks nicer, but it does get sticky in the summer. Doesn't breathe.
Chasey_Lane
Salt Life
Both of my vehicles are leather, hubby's is cloth (Jeep), and the convertible is leather. Leather is a must for me!!
glhs837
Power with Control
If you get ventilated seats it does
Really odd to have your seat blowing cool air up your backside though......
DEEKAYPEE8569
Well-Known Member
Well, that's a learned trait. I'm not blaming anybody; but you would just have to meet my Mom to perhaps partially understand why I do that worry into a frenzy thing.
DEEKAYPEE8569
Well-Known Member
I submitted a loan application to my bank with a $ "cushion" and received a call from them yesterday, that I missed unfortunately. I'll call back on Monday. "Good news" was part of the message, so at least it sounds promising. If I get the loan, I'll go see what kind of a deal the dealership is willing to make. :fingerscrossed:
PeoplesElbow
Well-Known Member
If the estimate on taxes title etc has that much weighing on it, did you ever stop to think maybe I can't really afford this?
DEEKAYPEE8569
Well-Known Member
Nope. The resulting monthly payment stopped me for about a second though. I got the loan; found that out this morning.
There's wiggle room between the asking price and the MSRP; the MSRP being the amount I applied and was approved for; so I'm going to see how close to the asking price I can get.
Now.....to figure the monthly payment plus a monthly amount to devote to insurance which will most certainly go UP. I know.....call my agent and find out.
I'm waiting for an answer.
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DEEKAYPEE8569
Well-Known Member
THIS Is New
I received notification that my loan was approved, BUT, the bank wants a purchase order before they will cut me a check. This makes no sense.
If I have a loan for $40K and I finalize a deal @ 25K (Hey dreams are free); that remaining $15K could be used to make payments or pay for insurance, I'd still have to make payments on the $40K as far as the bank is concerned.
I also understand that by not using the full $40K, payments would be lower, so there is one reason; to my benefit; to require a purchase order before granting the loan.
I guess that's just the way my bank does new car loans. 'show us a purchase order then we will cut you a check.' Just doesn't make sense though.
Oh, they also wanted to know if/how much I was putting down. Never mentioned a down payment; not even in the loan app..
I received notification that my loan was approved, BUT, the bank wants a purchase order before they will cut me a check. This makes no sense.
If I have a loan for $40K and I finalize a deal @ 25K (Hey dreams are free); that remaining $15K could be used to make payments or pay for insurance, I'd still have to make payments on the $40K as far as the bank is concerned.
I also understand that by not using the full $40K, payments would be lower, so there is one reason; to my benefit; to require a purchase order before granting the loan.
I guess that's just the way my bank does new car loans. 'show us a purchase order then we will cut you a check.' Just doesn't make sense though.
Oh, they also wanted to know if/how much I was putting down. Never mentioned a down payment; not even in the loan app..
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Chasey_Lane
Salt Life
What doesn't make sense? Bring them the purchase order, they will fund the loan for that amount. Plain and simple.
DEEKAYPEE8569
Well-Known Member
Workin' on it. And thanks Chasey.
DEEKAYPEE8569
Well-Known Member
From E-mail exchange with credit union:
"As per our phone conversation, you are approved for a vehicle loan." "We will not issue the loan until you have provided us with a purchase order from the dealership." (I take this as having to make two more trips to the dealership. One to "negotiate" and/or get a hard copy purchase order; and another trip to pick up the car, after going to the bank and getting a check for whatever amount is on the P.O.).
"As per your request, I have printed an approval letter for you to take to the dealership." (This sounds like something I present at the negotiating table if/when a final sale price is agreed upon).
(Using round numbers, I asked the bank, 'If approved for a $30K loan and manage to negotiate down from that figure, is payment of the full amount still required?' "Correct, you do not have to borrow the full amount if you are putting a down payment on the vehicle." (If I was, it wouldn't be much) "Should you have any further questions,....."
Where on earth..?? This is your very first collateralized loan, I take it? That type of loan (vehicle) is always for the net purchase amount only. If you wanted to borrow 40k to buy a 25k car, you would have to do that using some other form of collateral; home equity being the most typical.
DEEKAYPEE8569
Well-Known Member
No Gilligan, it's not. In 2012 they granted and disbursed a loan I applied for.....without a purchase order. It seems like this requirement to have a purchase order prior to disbursing the loan is a peculiarity/rule.....whatever you want to call it, my bank has. Yeah, it was only three years ago, but I don't remember having to get a purchase order from Wiengardner in L'town; I just filled out a loan app. at the bank for the list price ($16,666.00). I paid $5K at the dealership, signed the papers and that was it; but I'm not walking into the dealership with $5K this time. At the most, my down payment will be $2500.
It appears I am going to have to go to Waldorf, first, to get a purchase order that defines a final purchase price and my down payment amount; because they will not fax me a purchase order. The person at the dealership wants me to go up there and play the negotiate game, then I take that paperwork to my bank; show it to the loan officer who will cut me a check for the written price of the car plus tax, title, tag fees; figures that they (the bank) will compute; then take the check back to the dealership to take delivery of the car; a total of two round trips that can be taken care of from the dealership's perspective with a fax. The car has a "discounted" price advertised. $1916.00 IS less than what the MSRP is. That lower figure is the number I'm shooting for. I applied for the full MSRP amount figuring I could use that $1916.00 difference to pay the fees and just make payments on the full MSRP. Apparently it don't work that way.
Nope.
DEEKAYPEE8569
Well-Known Member
d*mn.....
DEEKAYPEE8569
Well-Known Member
Contacted the bank and was told I could pick up the pre-approval letter and take THAT to the dealership; negotiate and whatever else; get a purchase order and take it to the bank. I wasn't given a dollar figure; I'm guessing it was for the full price of the car, which is what I applied for. If the amount on the paperwork I bring to the bank from the dealer is LESS than what I am pre-approved for, I will be given a check for the lesser amount; including fees/taxes. NOW I think I finally put all the puzzle pieces into the right puzzle.