[Gamyr]

I recently put down a $500 deposit and signed a Credit Application for a new 330i (GREAT DEAL) that is inbound to the dealership (ETA is Jan 12). I did not sign a lease order or anything else, other than the credit app. The dealership did send me a copy of their lease order that they only signed (seller), but I did not sign it (buyer). They did not ask me to sign this lease order (which states it's only binding if BOTH seller and buyer sign it). This lease order has my name/info, the car's VIN, price, monthly payment, down payment info, tax, etc. I only signed the Credit Application and put down a separate online deposit.
When I inquired if there is anything else, the dealer salesperson said I am all set and nothing else to do until the car arrives. I just want to make sure the car is actually mine and there will be no issues/swindling? Is there a way to confirm, perhaps through BMW FS or online, etc? How would I determine the status of this car's arrival too? Thanks!

[tturedraider]

The reality is the car is not yours until all of the documents are signed by both sides. It is possible that another buyer could step in with a better offer than yours and they could sell it to him. It wouldn’t be the first time.

[Gamyr]

Originally Posted by tturedraider

The reality is the car is not yours until all of the documents are signed by both sides. It is possible that another buyer could step in with a better offer than yours and they could sell it to him. It wouldn’t be the first time.

Advice?
So what can I do?
Should I sign and send them that one-page lease order then? Thanks!

[TurtleBoy]

Originally Posted by Gamyr

Advice?
So what can I do?
Should I sign and send them that one-page lease order then? Thanks!

There is nothing you can do other than hope the dealer is trustworthy and sticks by the deal you discussed. They can change the pricing if they want to or sell it to someone else. Thankfully the large majority of dealers do not operate that way.

[tracythorne]

Agree… The vast majority of “special order” agreements, are non-binding on both sides.

I suppose there is an upside… You can always walk away from the deal yourself and get your deposit back. I know that’s not what you want.

Good news is that the majority (probably, overwhelming, majority) of dealers stick by the agreements, even with market shifts.

Frankly, I don’t think the dealers want the bad publicity of unhappy customers trashing them to other potential buyers, and BMWs business model involves a lot of special orders.

[drexplode]

Request the dealer send a copy of the vehicle inquiry report with your name on it and priority 1 - customer sold. Usually this is the protocol at dealers which also includes the name of the sales person.

[Dairdevyld]

Originally Posted by Gamyr

I recently put down a $500 deposit and signed a Credit Application for a new 330i (GREAT DEAL) that is inbound to the dealership (ETA is Jan 12). I did not sign a lease order or anything else, other than the credit app. The dealership did send me a copy of their lease order that they only signed (seller), but I did not sign it (buyer). They did not ask me to sign this lease order (which states it's only binding if BOTH seller and buyer sign it). This lease order has my name/info, the car's VIN, price, monthly payment, down payment info, tax, etc. I only signed the Credit Application and put down a separate online deposit.
When I inquired if there is anything else, the dealer salesperson said I am all set and nothing else to do until the car arrives. I just want to make sure the car is actually mine and there will be no issues/swindling? Is there a way to confirm, perhaps through BMW FS or online, etc? How would I determine the status of this car's arrival too? Thanks!

Did you add the car to your garage on the BMW site and app? Not a guarantee of anything, but you can at least assign the car to you in BMW's systems and keep track of the vehicles progress that way.

[tturedraider]

Originally Posted by drexplode

Request the dealer send a copy of the vehicle inquiry report with your name on it and priority 1 - customer sold. Usually this is the protocol at dealers which also includes the name of the sales person.

That is an excellent idea. Wish I’d thought of it myself.

[TurtleBoy]

Originally Posted by tturedraider

That is an excellent idea. Wish I’d thought of it myself.

Still does not ensure that the car won't be sold to someone else. The large majority of dealers don't do things like that but we have had some instances of it.

[tturedraider]

Originally Posted by TurtleBoy

Still does not ensure that the car won't be sold to someone else. The large majority of dealers don't do things like that but we have had some instances of it.

That’s true, but at least if they give you a copy of the VIR showing Priority 1 - Customer Sold, with the customer name on it it creates kind of a psychological feeling of obligation that the car is for that customer.