From a BMW dealership, I have already obtained a new car. However, three weeks later, the dealership called me, telling me that they have not been able to open their bank to finance my new car for some reason. If I get disapproved my the bank, in this case, can I still pay cash for the new car without financing it? That way, everything will be clear?
Phil M
If you have enough cash to buy the vehicle, why on earth would you consider financing it?
arther
if you have the cash pay for the car and be done with it. they will take it as you have the car and must like it.
Anonymous
Sure you can pay cash. But don't fall for the "Yo-Yo" scam, it doesn't take three weeks to scare up financing. They want to drag you back in to the office to renegotiate less favorable terms (for you). Examine your situation and contracts carefully. Insist on getting the credit denial letter in writing, stating who is denying you and the reasons for the denial. And don't be so in love with the car that you will do something stupid to keep it.
USAFisnumber1
Go to YOUR bank and get a loan, sounds to me like they will come back with a loan for you, that was "hard for them to arrange" and it will be at a high interest rate.
thebax2006
Knock $2000 of of the price they sold it to you for if you pay cash. It's already titled in your name so the value is much lower if they take it back to sell again and they will lose more then $2000.