I ordered my MCS back in april and it arrived at the dealer just over a week ago. In the time between me ordering the car and its arrival, my financing situation fell through. It's taking me a bit longer than I would have hoped to get new financing, so my question is how long will the dealer hold the car for me? Is there a legal time frame or is it at the dealer's discretion?

-nick.

 

Do you have a deposit placed? They'll hold it at least as long as the agreement stated.


If time passes beyond that, you could front the dealer a couple hundred bucks to hold it longer, with the stipulation that after that agreed upon timframe elapses, if you still have not closed the sale, they are free to sell it. Otherwise the money you give goes towards the sale when it closes.

That happens all the time.

 

I put 1000 dollars on it when I ordered it, but no specific time frame was mentioned then. The MA I'm working with said another two weeks would be fine, but its all very informal. I don't think anything was ever put into writing.

-nick.

 

If it were me in this position... I would simply come clean with my MA. They can be surprisingly understanding. They understand that sometimes a guy just needs a little more time to come up with the $$$. If you don't feel you can find new financing within the next week or two then you may want to just tell them. They may try to wait it out with you if they like you and feel that you’re sincere about the purchase. However, if they think you're playing games then they won't help you at all. And probably will sell it without regret . But to answer your question it is at their discretion unless otherwise stated. Remember MA still has to answer to BMW finance dept if things are going to drag on too long, even if you use another finance agency.