New Car - Credit Question

Dillinga

Dillinga

Dillinga

Associate
Joined
6 Jan 2003
Posts
205
Quick question please :)

Picking up a new BMW 116i Sport for the wife on Saturday but had a call from the dealer asking for her to pop in today or tomorrow to sign/accept the credit agreement.

I've purchased a number of new cars and I've never been asked to sign before the day of pickup? Should I be concerned? I did question it but he said BMW have to receive payment i.e. finance before they will deliver.

This is a big main BMW dealer so should be fine but I want to check over the car before signing on Sat. Our last car I made the mistake of signing before looking it over and I found a number of scratches which had to be "composited" at the dealer straight away before driving off :(
 
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Sometimes they just need to get the signatures and then make sure the finance goes ahead with credit checks etc. They can't do that without your signuture and want to get it done the day before so that you can enjoy picking up your car the following day.

Also if there is any issues, they can be sorted out.

Imagine getting there on the day, signing the papers with your new car sitting ready to go, and suddenly there is an issue with the financing ??

Nothing to worry about - normal. Still check the car over before you leave the following day.
 
Your most likely correct but she had already signed the initial documents to enable the credit check which as gone through OK.

I'm sure it will be fine I get edgy went spending any amount of money :)
 
The 116i is the most awesome bottom of the range car ever though, have you seen the performance stats? It is loads quicker than it really ought to be :D
 
[TW]Fox;25255735 said:
The 116i is the most awesome bottom of the range car ever though, have you seen the performance stats? It is loads quicker than it really ought to be :D
Click to expand...

Had to check to see if you were being serious:

0-60 8.5secs
134bhp
iDrive and bluetooth as standard on the sport
50mpg combined

Not bad.
 
Minstadave said:
Had to check to see if you were being serious:

0-60 8.5secs
134bhp
iDrive and bluetooth as standard on the sport
50mpg combined

Not bad.
Click to expand...

Haha, I did the same thing.

to the OP. I'm far from from an expert but if you have already been approved for the credit, I personally would be waiting to see the car before signing on the dotted line. I'm sure it will be fine if it is brand new though? Or is it approved used? If the latter, I'd certainly be looking the car over, then going to sign for it.
 
I wouldn't sign a thing before collection day. The dealer sent me the docs to sign before we picked up my girlfriends Mini and I refused on the basis I hadn't seen it yet.
 
When buying my Audi from a main dealer they made me aware that if I signed the final paperwork on the day it would either go straight through, or take 1-2 hours to be checked so I might have to come back later that day.

I would never sign the final documentation until I have seen the car that day and am happy to take it home.
 
Abyss said:
When buying my Audi from a main dealer they made me aware that if I signed the final paperwork on the day it would either go straight through, or take 1-2 hours to be checked so I might have to come back later that day.
Click to expand...

They don't need a signature to submit the application for approval.
 
Dealers will ask you to sign the finance documents so that they can send them away for payout. This can take anything from 30 mins to a couple of hours dependant on how busy the finance company is.

This is completely normal.

To the people that wont sign until delivery time - If you are happy to kick around for upto a couple of hours then thats a decision you need to make but be aware of it and don't blame the dealer/finance company.

Occasionally there can be problems with the finance company not "paying out". Sometimes it is the finance companys fault, sometimes its the dealers fault and sometimes it can be the customers fault. This then requires more waiting until its resolved.

A dealer normally wont allow the car to be driven away until they have confirmation from the finance company that they are "paying out".

There is nothing stopping anyone from rejecting the car at delivery time even after the finance is paid out as this can be cancelled within the first month. If you sign everything and, on pickup, find a fault then just reject the car.
 
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