Originally Posted by ericrz
OK, so looks like I'll be the guinea pig here. Ira has been super helpful via email, and it appears as though I'm going to purchase a car from his lot and have it shipped to me here in Birmingham, Alabama.
Having a hard time finding the model I wanted locally -- Titanium hatchback with the 401A package, nav, and a moonroof. Not interested in the parking package or the handling package, but most dealers seem to either have no Titaniums, or loaded-all-the-way Titaniums.
I will update here throughout the process, for those of you who might consider a similar arrangement.
So, this ran into a snag and it looks like this deal won't happen. Ira was very friendly and helpful -- the finance department is where this is hitting the rocks.
I already had pre-approval from Capital One, and I told Ira I'd likely stick with them, since it was a solid rate and I didn't think they could do any better. He agreed it was unlikely.
When the finance guy (Vadim) called me last Friday to work up the papers, he tried to push me into financing with them. I said I'd stick with Cap One. "No problem," he said.
Paperwork arrived via UPS on Monday. Included in the packet was a Phil Long credit app. I chose not to fill it out, since financing was already arranged.
Yesterday, Vadim calls me and tells me they can't do the deal without a credit app. This confuses me, since my financing is pre-arranged. I try to get him to explain why, without much success. Today, Ira calls me and we go around in circles for a bit, me explaining that I don't want an unnecessary credit check, since each check dings your credit score a bit.
So we finally get that resolved. Then, the finance MANAGER has to get involved. He insists that for an out-of-state deal, Capital One has to send me a contract agreement which I can sign and send to the dealer. Cap One insists no such document exists. The manager (Vito) says Colorado law changed January 1 and this is now needed for all out-of-state deals. "Unless, of course, you want to fill out OUR credit app," he says.
So I finally get a Cap One rep, Vito, and myself on a 3-way call. Vito and the Cap One guy go round and round in circles. In the interim periods, when Vito puts us on hold for 10+ minutes at a time, the Cap One guy tells me he's highly skeptical that Colorado changed their financing laws January 1 and Cap One knows nothing about it. He tells me their legal department is usually right on top of things. He suspects that this is a way to coerce me into filling out their credit app and financing through Phil Long Ford.
We bang our heads together a bit longer -- Vito insisting they can't do the deal without this contract, signed by myself and my wife. Ryan from Cap One insisting that no such document exists, except for the note/security agreement contract included in my paperwork, which is an agreement between myself and Cap One. Has nothing to do with the dealer. He highly recommends against sending this to the dealer.
So at the end, we reach an impasse. Vito says they can't do a deal without this document, Cap One says no such document exists, and I start looking again at Foci at local dealers.
I don't know what to recommend for those of you thinking of buying from Ira. He's certainly very friendly, knowledgeable, and responds quickly to emails. There wasn't much haggling to be done, as I'm on an X-Plan deal, so negotiations weren't necessary. Ira provided the X-Plan price per invoice, took off the $2000 Ford rebate, and only added the doc fee and tax.
But, these out-of-state deals may be complicated by Colorado's lien laws, if that part of the conversation was true. If you've got your own financing lined up, I recommend against a deal like this. It seems needlessly complex.
If you're looking to finance through a dealer, Phil Long certainly has a wide selection of cars, and so you might find a hard-to-find vehicle on their lot. That's what drew them to me originally, they had a black Titanium with the 401A package, moonroof, nav, and winter package. I didn't care so much about the winter package, but I was trying (still am) to find a 401A Titanium with roof and nav. (Don't want to pay for the parking or handling packages.) There aren't many of those around.
Looks like I may need to "downgrade" to an SEL with 303A, roof and MFT/nav, which is OK.