Levine confirms 2021 Model Year reservations will be built BEFORE dealer stock

[Ripcurl]

For what it's worth, this is what my dealer told me:

"Most or all of the incoming models will be preordered. So, the only models available to see would be those coming in for customers that ordered them. If a customer drops out of an order, then potentially, that model will be available to test drive and purchase. However, we will not have any stock units to test drive prior to ordered models arriving."

I'm assuming quite a few people will fulfill multiple reservations with different setups and will only take home the Bronco they love. They're only out $100 after all...

Also depends on if you have to put down any non refundable deposits on two separate vehicles, we know some dealers are requiring deposits

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[Russ1Bronco]

Sounds like you've never ordered a car before. I've never had to finance before the order, and that doesn't even make sense (try getting a car loan on a car that has no VIN number). Dealerships will ask for a deposit, but in this case I'm not sure many dealers will even do that beyond the $100 you put down for the reservation because for these broncos they want the initial buyers to not complete the purchase so that the trucks end up in their inventory and they can sell them with a mark up.

..I bought 11 new Fords ....and when you buy a car off the lot,it is simple...the car is there already...when you are ordering a car...the dealer is going to need some information from you...do you really think we are going to walk in a dealership ..sit for a half hour and not talk about money...first thing they will want is your credit score and credit history...to see if you even qualify for a car loan...How many people do you think who are in line for a Bronco,especially the 60k ones ...and when they see their payments of 600 a month say...man,I can't afford that...it's better to find out early,and not walk out disappointed..

 

[fly-cobra32]

Can anyone confirm this?
If I need to finance in December (next month), then I guess I'm giving up my reservation! I have a wedding to finish paying for and it takes priority. The eta of June to August arrival for Bronco was working *perfectly* with my finances

You can always ask your current finance to extend the lease until you get the new Bronco

 

[Vigor]

You can always ask your current finance to extend the lease until you get the new Bronco

My car has been paid off for years

 

[Vigor]

..I bought 11 new Fords ....and when you buy a car off the lot,it is simple...the car is there already...when you are ordering a car...the dealer is going to need some information from you...do you really think we are going to walk in a dealership ..sit for a half hour and not talk about money...first thing they will want is your credit score and credit history...to see if you even qualify for a car loan...How many people do you think who are in line for a Bronco,especially the 60k ones ...and when they see their payments of 600 a month say...man,I can't afford that...it's better to find out early,and not walk out disappointed..

So what do you mean by "finance"?
If just looking at our credit score thats one thing. But you don't mean they're going to ask for the deposit, etc in December do you?

 

[bdub2you]

..I bought 11 new Fords ....and when you buy a car off the lot,it is simple...the car is there already...when you are ordering a car...the dealer is going to need some information from you...do you really think we are going to walk in a dealership ..sit for a half hour and not talk about money...first thing they will want is your credit score and credit history...to see if you even qualify for a car loan...How many people do you think who are in line for a Bronco,especially the 60k ones ...and when they see their payments of 600 a month say...man,I can't afford that...it's better to find out early,and not walk out disappointed..

Thank you confirming that you have never actually ordered a vehicle before and you don't know what you're talking about. Stop typing for a second and think. How exactly are you going to get a secured loan on a vehicle that doesn't exist and doesn't have a vin number.

I've ordered over a dozen cars in my life. Your credit score at the time you place the order is entirely irrelevant because you're not getting the loan then for a vehicle that is being delivered in 6-12 months. Your credit score could easily dive in that 6-12 months, the banks will care what your score is at the time the loan is made, i.e. at delivery. That also affects what interest rates you'll qualify for on the loan.

As far as what you said about estimated payments, the build and price has an estimated payments built right in.

If it helps you wrap your head around this since you don't seem to get it, think of the ordering process as you suggesting to the dealer what car you'd like to see in their inventory and saying you'd buy it in 6-12 months at X price if they had that car with those specs on the lot. Then everything that you've normally experienced with financing happens when the car shows up, i.e. just like when you walk in and buy a car off their lot. You can even go to your own bank and secure a loan then.

 

[Russ1Bronco]

So what do you mean by "finance"?
If just looking at our credit score thats one thing. But you don't mean they're going to ask for the deposit, etc in December do you?

..I believe they will want proof that who ever orders any vehicle..they can pay for it...Ford says they don't want the dealers to screw around and put unwanted units on the lot...how will Ford HQ be able to stop it..if a number of sales can't be consummated...There has to be a time when money is mentioned...and I don't think it will be on the day we go the dealership to pick up the Bronco..

 

[MattECDNdealer]

Under normal circumstances, if you are financing an ordered vehicle, the dealer will want to make sure you will qualify for financing on that vehicle. No, there will be no vin, but they can use one from a similar priced vehicle on their lot as a "test". This ensures that they are not ordering some odd spec high level trim for someone who can't get financing. Again, this is under "normal " circumstances.

Bronco is a different animal entirely, with the reservation system, and Ford stating they won't build stock until after retail orders, dealerships will likely forgo the credit check. The worst case scenario for the dealer is that your retail order Bronco shows up, you can't get financing, and they get a piece to sell for stock they otherwise would not have. Given such high demand and lack of product, even "odd" specs are going to sell.

 

[GoldenKnight]

I'm curious about how they'll differentiate model years. When does the line change over? I can't say I know of any model years that were built in the following year that were the previous MY. When I bought my 2007 Chevy Malibu it was built and delivered in June of 2006. Are we under the assumption they'll all be producing MY '21 broncos into the 2022 calendar year? Sounds strange, but possible I suppose.

I understand they're now a couple months behind schedule but I'm curious to see how this all shake out. I can't imagine them indefinitely making MY'21 Broncos for very long.

 

[Russ1Bronco]

Under normal circumstances, if you are financing an ordered vehicle, the dealer will want to make sure you will qualify for financing on that vehicle. No, there will be no vin, but they can use one from a similar priced vehicle on their lot as a "test". This ensures that they are not ordering some odd spec high level trim for someone who can't get financing. Again, this is under "normal " circumstances.

Bronco is a different animal entirely, with the reservation system, and Ford stating they won't build stock until after retail orders, dealerships will likely forgo the credit check. The worst case scenario for the dealer is that your retail order Bronco shows up, you can't get financing, and they get a piece to sell for stock they otherwise would not have. Given such high demand and lack of product, even "odd" specs are going to sell.

..Didn't Ford say they wanted to avoid dealers getting refused units to put on the lot...I'll be stopping in my dealer with my build sheet this week...I will be asking him some financial questions...I may be wrong..but I'll see what he says...

 

[noahr]

So the 21s will be somewhat of an oddity??? How many total 21s?

However many reservations from before sept 18 get turned into an order and arent canceled before they arrive to the dealership

 

[Nick B]

Just being the devil’s advocate here, but model year 21 doesn’t mean it’s going to be delivered in the year 2021.
Uncle Mike seems to always be speaking in riddles. I think it might just be his sense of humor? I don’t get it.

I wish Ford would put out some sort of statement saying that “all reservations prior to Sep 18th are planned to be built and delivered prior to October of 2021”. Something like that anyways.......

That quote can't be given out yet as no one knows how many reservations made prior to 9/18 will actually convert to an order. Until that figure is known Ford cannot calculate the total build schedule from April 21 to ??.

 

[bdub2you]

Under normal circumstances, if you are financing an ordered vehicle, the dealer will want to make sure you will qualify for financing on that vehicle. No, there will be no vin, but they can use one from a similar priced vehicle on their lot as a "test". This ensures that they are not ordering some odd spec high level trim for someone who can't get financing. Again, this is under "normal " circumstances.

Bronco is a different animal entirely, with the reservation system, and Ford stating they won't build stock until after retail orders, dealerships will likely forgo the credit check. The worst case scenario for the dealer is that your retail order Bronco shows up, you can't get financing, and they get a piece to sell for stock they otherwise would not have. Given such high demand and lack of product, even "odd" specs are going to sell.

This conversation goes back to Russ1Bronco's absurd comment saying that you'll have to finance the loan at the time the order is place, which simply doesn't happen in any dealership (ford or otherwise) in the US.

Car ordering 101 for those that have never ordered a car before (which seems to be a lot of people from the comments). At the time of the order you given them a deposit. If you spec the car weirdly or it's a car the dealership thinks won't sell well then it's typically a larger deposit, and depending on the state it can be a non-refundable deposit which they keep if you don't go through with the purchase when the car is delivered to the dealership. Given the high demand for the bronco I suspect most dealerships will only ask for a token deposit, if any, but still. Contrary to Russ1Bronco's assertions, you do not have secure a loan for the car at the time of the order. The order isn't the same thing as purchasing, it's simply an allocation to a dealer. Watch this interesting video on car flipping GTR allocations, and realize that he's not financing each car when he places the order.

 

[BadSquatch21]

This conversation goes back to Russ1Bronco's absurd comment saying that you'll have to finance the loan at the time the order is place, which simply doesn't happen in any dealership (ford or otherwise) in the US.

Car ordering 101 for those that have never ordered a car before (which seems to be a lot of people from the comments). At the time of the order you given them a deposit. If you spec the car weirdly or it's a car the dealership thinks won't sell well then it's typically a larger deposit, and depending on the state it can be a non-refundable deposit which they keep if you don't go through with the purchase when the car is delivered to the dealership. Given the high demand for the bronco I suspect most dealerships will only ask for a token deposit, if any, but still. Contrary to Russ1Bronco's assertions, you do not have secure a loan for the car at the time of the order. The order isn't the same thing as purchasing, it's simply an allocation to a dealer. Watch this interesting video on car flipping GTR allocations, and realize that he's not financing each car when he places the order.

This. I've order numerous custom order cars that took months to get and never had a credit check or theoretical loan "run." Simple deposit at time of order with a pre-negotiated price of the car and then settle up when vehicle comes in however I wanted to finance/pay. Deposits have ranged from $0(they know they could sell it easily) to $1000.

 

[Rydfree]

..How many people do you think who are in line for a Bronco,especially the 60k ones ...and when they see their payments of 600 a month say...man,I can't afford that...it's better to find out early,and not walk out disappointed..

I'd assume if someone can't pay $600 a month then they probably didn't have a decent down payment either , so I'm more interested in this 60k Bronco that only cost $600 per month !

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