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G80 BMW M3 and M4 General Topics Pricing, Ordering, Leasing / Purchasing, Delivery

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      09-25-2020, 03:00 PM   #1
shaggy1
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Credit app needed for pre-order?

So I've never done a pre-order/allocation before so looking for some feedback.

I emailed my local dealer about what it would take to pre-order a new G82 and this was the response:

"We don’t have a definitive date yet, but it will probably going to production in November. Please let me know if you would like to jump on this allocation while it is still available. If so, we would need a completed credit application (attached) and your drivers license and insurance card so we can submit for credit approval. Once the configurator is online for the M4, you can send me your build code."

I'm curious, is it normal to run your credit just to pre-order? I could see if they knew exactly what I wanted and we committed to it for those options I want etc., but in my opinion it seems too early for that. I was assuming I'd just put down a deposit or something.
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      09-25-2020, 04:22 PM   #2
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Quote:
Originally Posted by shaggy1 View Post
So I've never done a pre-order/allocation before so looking for some feedback.

I emailed my local dealer about what it would take to pre-order a new G82 and this was the response:

"We don’t have a definitive date yet, but it will probably going to production in November. Please let me know if you would like to jump on this allocation while it is still available. If so, we would need a completed credit application (attached) and your drivers license and insurance card so we can submit for credit approval. Once the configurator is online for the M4, you can send me your build code."

I'm curious, is it normal to run your credit just to pre-order? I could see if they knew exactly what I wanted and we committed to it for those options I want etc., but in my opinion it seems too early for that. I was assuming I'd just put down a deposit or something.
Otherwise you'd have every nut with a 70% DTI and 545 FICO sucking up allocations they'll never qualify for when the unit arrives at the store.
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      09-25-2020, 04:48 PM   #3
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I get that but wouldn't you wait until you can actually know which options are available? I see a lot of other threads on here saying they only have this or that option. Seems kind of premature to pull my credit, but then again I've never ordered one so I didn't realize this is normal at this stage of the process.
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      09-26-2020, 10:35 AM   #4
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Quote:
Originally Posted by shaggy1 View Post
I get that but wouldn't you wait until you can actually know which options are available? I see a lot of other threads on here saying they only have this or that option. Seems kind of premature to pull my credit, but then again I've never ordered one so I didn't realize this is normal at this stage of the process.
It's not normal. Just dealer talk.

You won't be be able lock in any rates so they just want to see if you can "afford" the car.

You will have to submit another credit app when you actually take the car.

Tell them that you are willing to put down a refundable deposit ( I didn't see what state you are in ) so that they hold your place on line. Tell them the app is a waste of a hard inquiry because the car won't be around for a while.

You can also negotiate the price now . I'm assuming msrp. If they want to charge you over msrp it's really time to reconsider your relationship with this store.
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      09-27-2020, 03:05 PM   #5
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Originally Posted by arciga18 View Post
It's not normal. Just dealer talk.

You won't be be able lock in any rates so they just want to see if you can "afford" the car.

You will have to submit another credit app when you actually take the car.

Tell them that you are willing to put down a refundable deposit ( I didn't see what state you are in ) so that they hold your place on line. Tell them the app is a waste of a hard inquiry because the car won't be around for a while.

You can also negotiate the price now . I'm assuming msrp. If they want to charge you over msrp it's really time to reconsider your relationship with this store.
Thanks for the reply. It felt weird to do a credit app now. I'll offer the deposit and see what they say.
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      09-27-2020, 03:59 PM   #6
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By the time you’re ready to sign on the car BMW financial will want another hard pull.
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      09-28-2020, 06:46 AM   #7
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I would do a credit app once they have an allocation.
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      09-28-2020, 08:56 AM   #8
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most will require a deposit. some custom orders and on super hot cars where dealers are unsure of how many allocations they will get they may ask for a credit app. Every dealer has their procedures they follow that works best for them.

side note: also in order to lock in programming you would need to do a credit app also. this locks you in for 60 days east coast dealers and 90 west coast dealers.
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      09-29-2020, 01:20 PM   #9
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Quote:
Originally Posted by GOLFFRR View Post
most will require a deposit. some custom orders and on super hot cars where dealers are unsure of how many allocations they will get they may ask for a credit app. Every dealer has their procedures they follow that works best for them.

side note: also in order to lock in programming you would need to do a credit app also. this locks you in for 60 days east coast dealers and 90 west coast dealers.
Thanks for the info. I think if I had the build I wanted and was locking it in, doing the credit app then makes perfect sense. I bought my 2016 F80 in 2017 and my 2018 F82 in 2019, great deals on barely used cars, but something about ordering a fresh G82 sounds so satisfying this time around.
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      09-29-2020, 03:38 PM   #10
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Quote:
Originally Posted by shaggy1 View Post
Thanks for the info. I think if I had the build I wanted and was locking it in, doing the credit app then makes perfect sense. I bought my 2016 F80 in 2017 and my 2018 F82 in 2019, great deals on barely used cars, but something about ordering a fresh G82 sounds so satisfying this time around.
that is correct, in order to lock in programming the dealer would need to run a credit app
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      09-29-2020, 09:57 PM   #11
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for me ... no credit check when I put the deposit down. Just make sure you communicate and have it in writing that it's a refundable deposit. Was told that credit pull will happen when the system opens for custom orders (i.e. non HEA) in a month or so. All the paperwork will happen at that point too as again nothing in the system right now to order.

But yes at this point you can talk pricing and come to an agreement in principle depends on relationship you have with your SA / dealer. Bit easier here as there are order guides and website configurators online already so these are real numbers to work with.
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      10-05-2020, 05:22 PM   #12
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Quote:
Originally Posted by GOLFFRR View Post
most will require a deposit. some custom orders and on super hot cars where dealers are unsure of how many allocations they will get they may ask for a credit app. Every dealer has their procedures they follow that works best for them.

side note: also in order to lock in programming you would need to do a credit app also. this locks you in for 60 days east coast dealers and 90 west coast dealers.
I disagree with getting a credit app and hard pulling someone just to order a card. When I ordered my last one they didn't even require a deposit. I'm a solid 850+ so if they asked to hard pull my credit before ordering I'd take my business elsewhere. I always go through my credit union anyway and I'm never worried about getting it approved of course. If they want a deposit, sure but it better be refundable incase they mess up.
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      10-05-2020, 07:53 PM   #13
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When I ordered my G20 and G05 they had me do a credit app in addition to deposits. That locked in the rates/incentives with the option to apply new rates/incentives at time of delivery (if they were better than at time of ordering). I did not have to submit a 2nd credit app at time of delivery.

That being said, I placed the order for the 2020 G05 before the online configurator went live, so I simply listed out all the options I wanted using the pricing/ordering guide.
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      10-06-2020, 06:38 AM   #14
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I have never ran credit for a pre-order. They'll need to run it again once it arrives.

Just go to the dealer and show them your credit via Experian.com or similar. If credit is 700+ they won't ask for App. If it's below 700, they might ask you to submit an App for approval.
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      10-06-2020, 08:44 AM   #15
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You will have to do a credit app in order to lock in rates/programming. no way around that. You will also have to go with BMWFS in order to get most incentives.

lock in is 60 days for east coast dealers 90 days for west coast dealers. You will have to take delivery of the car in that locked window in order to take advantage of the locked in period. You will also have to select one of the months you are unable to combine months. Once the lock runs out you will have to re lock (credit app) again if you decide to.

placing a order and locking in programming are different things. Again like I stated earlier in this thread, every dealer does things their way. Some will order on handshake, some will require deposit, some will require credit app, etc.. just have to find out from the sales rep you work with and go from there.
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      10-07-2020, 06:54 AM   #16
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Quote:
Originally Posted by GOLFFRR View Post
You will have to do a credit app in order to lock in rates/programming. no way around that. You will also have to go with BMWFS in order to get most incentives.

lock in is 60 days for east coast dealers 90 days for west coast dealers. You will have to take delivery of the car in that locked window in order to take advantage of the locked in period. You will also have to select one of the months you are unable to combine months. Once the lock runs out you will have to re lock (credit app) again if you decide to.

placing a order and locking in programming are different things. Again like I stated earlier in this thread, every dealer does things their way. Some will order on handshake, some will require deposit, some will require credit app, etc.. just have to find out from the sales rep you work with and go from there.
Since this this the g8x sub forum my comments will be specific to ordering this car.

No point in running credit app now because if you are ordering from an east coast atoe it is highly doubtful you would see the car.

You mentioned January production / March delivery .

If you are taking an HEA car the yes probably good idea to lock what's available .

Everything golffrr said is true and we can trust him.

The OP is new to ordering so we should be clear on our angles .
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      10-07-2020, 02:47 PM   #17
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By the time you’re ready to sign on the car BMW financial will want another hard pull.
ohhhh i'd be livid at this.
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      10-07-2020, 03:50 PM   #18
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Never a credit app or deposit. I email configure then get a production number and wait!
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      10-15-2020, 01:18 PM   #19
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I’ve never had to do a credit app.

And only a couple times was there a deposit, but I was okay with that as it was small.
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      10-24-2021, 07:43 PM   #20
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No credit app to order. Just a deposit. Credit app with hard pull when finalizing paperwork with BMWFS or other lender.
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      10-24-2021, 09:46 PM   #21
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yea they ran my credit got approved now waiting for the car

Last edited by baseboy6; 10-24-2021 at 09:53 PM..
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