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2019+ BMW 3 AND 4-SERIES FORUMS (G2x Generation) Ordering / Pricing / Order Tracking Forum Car held at VPC due to “CREDIT”

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      05-07-2020, 02:17 PM   #1
Dee1976bx
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Car held at VPC due to “CREDIT”

Need some info if possible

I am in the process of leasing a m340ix. The car was delivered at the vpc in New Jersey on 3/30/20. I put a deposit on the car on 4/17/20. Since then I been waiting for the car to get delivered to the dealer. The car was supposed to be delivered tomorrow 5/8/20. Now the sales rep is telling me its not going to be delivered because it has a hold on it. On the paperwork the hold is for "CREDIT". He told me it has nothing to do with my credit but they have never seen a hold of that type. Does anybody know what this hold might be about?
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      05-14-2020, 06:04 PM   #2
Fugly M3
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I have no idea...but the entire auto business is run on credit. Not just consumers. The dealers don't own 99/100 of the cars on their lots. They are bought on credit. With new cars this is usually provided by the manufacturer. I could see a manufacturer holding a car from a dealer because they haven't paid on the cars they currently have in stock. Hence, a hold on credit. I am purely speculating, but it makes sense. Now, is this fair to you? Absolutely not, and as it's an ordered car, if this is the case, it's bad business for BMW to hold it.
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      05-14-2020, 07:27 PM   #3
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Originally Posted by F82PRETEND View Post
I have no idea...but the entire auto business is run on credit. Not just consumers. The dealers don't own 99/100 of the cars on their lots. They are bought on credit. With new cars this is usually provided by the manufacturer. I could see a manufacturer holding a car from a dealer because they haven't paid on the cars they currently have in stock. Hence, a hold on credit. I am purely speculating, but it makes sense. Now, is this fair to you? Absolutely not, and as it's an ordered car, if this is the case, it's bad business for BMW to hold it.
This is happening to a lot of dealerships because their floorplan is maxed out from all the cars being transported but no sales to pay off the existing cars. Is this why your dealership has a "CREDIT" on your car? Couldn't say but I would make sense.
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      05-28-2020, 06:37 AM   #4
Dee1976bx
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Thanks for the info guys. Both ideas make sense. Still waiting for the car by the way.
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