Question about end of the quarter deliveries and the delivery process

[Gurule92]

Hey, thanks for stopping by my post. I was wondering if you could help me out. I am looking to get a LR/DM Model 3 BUT I am closing on my house on June 20. So needless to say I cant get the car and the loan approval before that point. I am crossing my fingers for a June delivery so I don't miss out on the 3,750 tax credit.

Car: White 3 w/ black interior, aero rims and no FSD.

My questions:

Do I need a pre-approval from my bank to place my order?

If I don't need a pre-approval and I place the order a week before my closing and they get the car in before I am ready to actually finalize my loan will they cancel my order?

If not how long with they typically hold onto it?

What have recent turn around times been and is the end of the quarter usually quicker?

 

[ammulder]

You don’t need bank approval to order. They will hold a car for a week after the original delivery date. You seem to be able to ask for a later delivery if that’s too soon, though you go back in the waiting queue again. People are getting deliveries in under a week to over a month (depending on location and color combination), though it’s expected to get better if they again want to move a lot of cars at the end of the quarter.

You may want to be prepared to be a bit flexible on colors and/or trim so you can pick an inventory car after your house closes. Though you can try ordering and just switch to an inventory car if the timing doesn’t work out on the order.

 

[OCR1]

Most banks can approve car loans within 24 hours. You have 7 days to pick up the car once they tell you it’s ready.

 

[Brandonn22]

It took 18 days from order to delivery for me. Placed order end of April 2019.

 

[jjrandorin]

Op you likely know this, but dont do ANYTHING related to credit before your house closes (as in you receive the keys). to order the car you will need to give 2500. If you put that on a credit card I recommend you make SURE your credit card statement wont hit (even if its not due) with that new charge on it.

One of the biggest mistakes people make when buying a house is going out and buying a bunch of furniture or something because they need new furniture. Once you put an offer in on a house, change NOTHING with your credit. The bank can absolutely pull your credit again right before closing, and many do without telling you (you gave prior approval) to ensure nothing new pops up there.

You dont want to change your debt to income ratio, or anything else about your credit, and especially dont want to buy a car or even apply for one with a down payment before your home closes.

#unsolicitedadvice

 

[Gurule92]

Op you likely know this, but dont do ANYTHING related to credit before your house closes (as in you receive the keys). to order the car you will need to give 2500. If you put that on a credit card I recommend you make SURE your credit card statement wont hit (even if its not due) with that new charge on it.

One of the biggest mistakes people make when buying a house is going out and buying a bunch of furniture or something because they need new furniture. Once you put an offer in on a house, change NOTHING with your credit. The bank can absolutely pull your credit again right before closing, and many do without telling you (you gave prior approval) to ensure nothing new pops up there.

You dont want to change your debt to income ratio, or anything else about your credit, and especially dont want to buy a car or even apply for one with a down payment before your home closes.

#unsolicitedadvice

Thanks for the input, yea i plan on waiting for the loan approval for sure. I shouldnt need the credit card for the 2500 but was making sure i coild place the order without an auto loan approval.

 

[jjrandorin]

Thanks for the input, yea i plan on waiting for the loan approval for sure. I shouldnt need the credit card for the 2500 but was making sure i coild place the order without an auto loan approval.

Yeah, you can place the order without a credit approval.

 

[Gurule92]

Most banks can approve car loans within 24 hours. You have 7 days to pick up the car once they tell you it’s ready.

Okay cool this is good to know

It took 18 days from order to delivery for me. Placed order end of April 2019.

Okay thanks, ill try to place my order around the12th then and hopefully i get it after the 20th but before july lol