Reservation Under Wife's Name, Not mine - Anyone experiencing this?

[TyGuy40]

I'll try to keep this short.

On Day 1, me and my wife were spamming the reservation system like mad trying to get in to reserve a Bronco last summer. She made it first, and booked the reservation. So I stopped trying.

Fast-forward to today, and my Bronco has arrived at my dealer! Only issue is this:

• They claim the reservation holder MUST BE ON THE TITLE, and the LOAN. (The Bronco is for me).
• My financing rate through my CU is 1.7%. My dealer's will be higher, but both of us have to be on the loan, or my dealer will not let me buy the vehicle

They claim they get dinged by Ford if the Vehicle is sold and titled under a different name other than what is on the reservation, despite this person being my wife. I just am not sure my CU will give me a good deal with her name on the loan. Trying to figure that part out now.

Anyone else experience this when trying to purchase your reservation? Curious to know how to navigate this. Or if my dealer is FOS.

Thanks!

-Ty

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[billybong420]

I'll try to keep this short.

On Day 1, me and my wife were spamming the reservation system like mad trying to get in to reserve a Bronco last summer. She made it first, and booked the reservation. So I stopped trying.

Fast-forward to today, and my Bronco has arrived at my dealer! Only issue is this:

• They claim the reservation holder MUST BE ON THE TITLE, and the LOAN. (The Bronco is for me).
• My financing rate through my CU is 1.7%. My dealer's will be higher, but both of us have to be on the loan, or my dealer will not let me buy the vehicle

They claim they get dinged by Ford if the Vehicle is sold and titled under a different name other than what is on the reservation, despite this person being my wife. I just am not sure my CU will give me a good deal with her name on the loan. Trying to figure that part out now.

Anyone else experience this when trying to purchase your reservation? Curious to know how to navigate this. Or if my dealer is FOS.

Thanks!

-Ty

TRUTH,

 

[Raptor911]

Just finance it through the dealership in your wife's name then refinance it under your name with your CU.

 

[BlueOvalBandit]

Here's the policy FAQ, knowing Ford it's probably changed but same household is/was considered a valid exception.


https://www.bronco6g.com/forum/thre...-policy-violations-exceptions-and-faqs.11717/

 

[ProudestMonkey]

Strange. I reserved and ordered our Bronco for my wife, who actually purchased it. Her name is on the title, loan and registration.

 

[flip]

This should not be a problem with name match policy. Easiest thing for all involved is put both names on the deal/financing. There may be a good reason you may not want her on there but it still shouldn't cause dealer to get dinged on NMP. There's literally a selection for other family member. All they have to do is upload some docs to show address and other stuff is same as yours.

 

[Little Foot]

I'll try to keep this short.

On Day 1, me and my wife were spamming the reservation system like mad trying to get in to reserve a Bronco last summer. She made it first, and booked the reservation. So I stopped trying.

Fast-forward to today, and my Bronco has arrived at my dealer! Only issue is this:

• They claim the reservation holder MUST BE ON THE TITLE, and the LOAN. (The Bronco is for me).
• My financing rate through my CU is 1.7%. My dealer's will be higher, but both of us have to be on the loan, or my dealer will not let me buy the vehicle

They claim they get dinged by Ford if the Vehicle is sold and titled under a different name other than what is on the reservation, despite this person being my wife. I just am not sure my CU will give me a good deal with her name on the loan. Trying to figure that part out now.

Anyone else experience this when trying to purchase your reservation? Curious to know how to navigate this. Or if my dealer is FOS.

Thanks!

-Ty

Put both of you on the registration and call the Credit Union and have her as the co-signer. Done!!!!

 

[pan-y-cerveza]

Just finance it through the dealership in your wife's name then refinance it under your name with your CU.

This is the good answer.

Looks like Ford has something in place for this, as mentioned in another post, but looks to be something the dealer has to apply for.

I had the same situation but unless your wife has terrible credit you should be ok for your CU rate. But if not, like quoted above, just refinance it by yourself.

 

[TyGuy40]

This is the good answer.

Looks like Ford has something in place for this, as mentioned in another post, but looks to be something the dealer has to apply for.

I had the same situation but unless your wife has terrible credit you should be ok for your CU rate. But if not, like quoted above, just refinance it by yourself.

So how does that work. I finance through Ford, then goto my CU and re-fi through them at a lower rate, and pay off the Ford Loan?

 

[Efthreeoh]

Okay, wait a sec. How you pay for the vehicle and who it is titled to are different things. I can sort of understand the title situation because of the reservation rules, but the financing thru your credit union is a separate business transaction not under the control of the dealership. If you were financing thru Ford Credit, or another institution via the dealership, then I guess they can make it a requirement. But using your credit union is the same as bringing cash to the dealer and purchasing the Bronco outright.

Did you ask your credit union about it? It sounds like the dealership is pulling a fast one so you'll back out of the purchase so the dealer can sell your order to someone else at ADM.

 

[Efthreeoh]

So how does that work. I finance through Ford, then goto my CU and re-fi through them at a lower rate, and pay off the Ford Loan?

Yes. Check if there is a transaction fee. But to my response above, if you are pre-quified by your credit union, just get the pre-qual paper from the CU and walk into the dealer and say FU, here's the money.

 

[TyGuy40]

Okay, wait a sec. How you pay for the vehicle and who it is titled to are different things. I can sort of understand the title situation because of the reservation rules, but the financing thru your credit union is a separate business transaction not under the control of the dealership. If you were financing thru Ford Credit, or another institution via the dealership, then I guess they can make it a requirement. But using your credit union is the same as bringing cash to the dealer and purchasing the Bronco outright.

Did you ask your credit union about it? It sounds like the dealership is pulling a fast one so you'll back out of the purchase so the dealer can sell your order to someone else at ADM.

That is the weird thing. Which I did not understand. They can have her on the title, but if I go through my CU, and get the cash, there is no reason for the dealer to need her name on the loan too.

 

[Raptor911]

Yes. I have done this a few times where the dealer required me to finance through them to get whatever incentive they were offering. Then 1 month later goto your CU and refinance the loan at a better rate.

Just ask your CU if you can do this and the answer will be YES!

So how does that work. I finance through Ford, then goto my CU and re-fi through them at a lower rate, and pay off the Ford Loan?

 

[NateDogg]

If your dealership is really bumping up against the 80% name match, clearly there is an appeals/exception process that is listed in the policy above. With the last names being the same, this is a slam dunk. I’m doing the same thing at Granger and they haven’t batted an eye. I definitely wouldn’t run my credit again at the dealer and they should also not want you to refinance a loan a month after origination. That will impact their relationship with the lending agencies as well.

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