Process to order a new truck?

[Svt40]

I am not familiar with the process of ordering a new truck. I have heard you put $1k down and it goes on order. Since I want something that I cannot find on a lot anywhere in the country.

Supercab, 6.5ft bed, XLT, Iconic Silver, 302a Sport, 3.5 EB, 4x2, sliding rear window, bed liner, B&O audio.

When does the financing and other paperwork get completed?

What would happen if they did not want to give me what I was asking for my trade in? For me that's usually a deal breaker as I'm not asking crazy money and it's paid for. ($4k on a 2004 XLT with 107k miles in great shape). Can you walk away or would that initial $1k be lost?

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[Bryan Simon]

I am not familiar with the process of ordering a new truck. I have heard you put $1k down and it goes on order. Since I want something that I cannot find on a lot anywhere in the country.

Supercab, 6.5ft bed, XLT, Iconic Silver, 302a Sport, 3.5 EB, 4x2, sliding rear window, bed liner, B&O audio.

When does the financing and other paperwork get completed?

What would happen if they did not want to give me what I was asking for my trade in? For me that's usually a deal breaker as I'm not asking crazy money and it's paid for. ($4k on a 2004 XLT with 107k miles in great shape). Can you walk away or would that initial $1k be lost?

I just sold my Ranger on Facebook Market Place last Saturday.
2005 w/130k on it. V6/5spd XLT Ext cab
130k down in S Texas is considered a low miles.
I bought it new and it had a couple of minor issues
Never babied nor abused
Got over 4 without the guy even trying to haggle.
I had no intention of letting it go for less than 4 so I padded the price.
(Paid for, did not NEED to sell, and I’m on acreage so I have a place to put it)
Not only that, but it was gone within 3 days.
Might consider that option
I don’t think that trading it will get you anything more, but won’t hurt to ask when you go in.
I had no intention of trading, so I didn’t even ask about it.

I fully get not finding what you want on a lot
I was adamant about an 8 ft bed and SuperCab
That left Ford as my only option and yet none on a lot anywhere in the state (XLT trim), so I ordered.

 

[PGA]

I was only required to deposit $500 to order my truck. All financing and final paper work is completed on delivery of your vehicle. Talk to your dealer up front regarding your trade. Most dealers will not keep a 2004 on their lot for resale, they will wholesale your vehicle at auction so they will not be motivated to make a good offer. your best bet will probably be to sell it yourself.

 

[Trashman]

I didn't have to put anything down but it's small town and he knows where I live.

 

[Pedaldude]

You’re almost always better off selling yourself, especially if you took good care of your vehicle and don’t mind dealing with an idiot or two before selling it. Also, watch out for all the new scams going on. The only time that I have ever encouraged people to trade in to the dealer is when their vehicle has had a lot of deferred maintenance. Shocks, tires and brakes can add up in a hurry these days and most private buyers will be looking at those things, while dealers tend to just follow the blue book prices and wing it, especially when you show up at the end of the month and they’re itching for a sale.

I sold my truck privately to a friend for what the dealer had offered me when they were hard selling me on a truck that I really didn’t want, I spent five hours test driving trucks and went through with their Kabuki Theatre sales drama afterward because I was the only customer there at the time and it’s good practice for all involved. They gave me a very fair trade-in price after I balked at their first offer. I knew that the situation would be very different once I ordered though, because it’s hard to pretend that the truck you custom ordered isn’t quite what you wanted.

I ordered with X-plan, they wanted $500 deposit and checked my credit. I usually would have balked at the latter but I had had a dispute six months earlier on a card that I hadn’t sign up for, so I was a bit curious if it had shown up. Some dealers won’t even require a deposit, especially if your build is something that they can easily sell. It does pay to research the dealers in your area and there’s no rules against getting quotes from multiple dealers, even though your not too likely to get one with supply and demand these days. At the very least, it will show who actually wants your business.

You can get approved for financing any time through the dealers or Ford’s website, though I believe it’s only good for a certain period of time. It’s also worthwhile to see what your bank or credit union can offer.

I don’t believe that they can complete the sale until the dealer physically has the truck and it’s a good idea to test drive and scrutinize it before going through with it in any case!

Good luck!

 

[05RubiconLJ]

I just recently ordered a truck. Here is how it went:
- Given a price on the truck with and without Ford Credit financing ($65,000 vs. $66,600, for example)
- $1,000 deposit due when the truck is ordered.
- No discussion on the trade until the truck is built and/or arrived. Your trade may be worth more or less at the time of delivery, based on actual market conditions.
- No credit run, not interest rate discussion, no monthly payment numbers given until the truck has arrived. Again, credit rates are a moving target.

If your dealer works along the same lines as mine, this can play out in your favor. Expert say that buying/trading should be considered two transactions. Set the price of the new car, then set the price of the trade. Don't do them at the same time. The numbers tend to work in your favor and your payments are lower on the new vehicle.

Here is what I am going to be doing. Once I have verification that the truck has been built and possibly even shipped, I will head over to the dealer and talk about trade numbers. Whether we come to an agreement or we do not, I know what to expect when the truck arrives (trade offers are generally good for 500 miles). I have to factor in the discount on my taxes burden, as well as, in the trade amount. If we don't come to an agreement, I will likely have up to 2 weeks to sell my current truck before the new one arrives. In your case, a $4,000 trade in Texas reduces your tax burden by $250 dollars. Put it on Facebook Marketplace for $4,500 and have the cash in hand.

 

[Plat_2021]

if you are required to place a deposit, make sure that it is a fully refundable deposit. I was not even asked to place a deposit on my order but I have been leasing a new truck from the same dealer every 2 years for 16 years. In my case the purchase / lease is a A/Z plan deal so my price on the new truck is fixed by Ford regardless of dealership.

If you have a Costco Membership then can give you a price on the new truck and provide a list of dealers that have agreed (usually less than X-plan) to that price. There is also a number ways to secure a X-Plan (Friends / Family / etc.) deal on the new truck but in all cases the trade is between you and the dealer.

 

[LA1401]

I just ordered a supercab lariat yesterday. I was required a $1000 deposit because the dealer said that he didn't want a supercab lariat sitting on his lot for 6 months! I have 6-10 weeks to sell my truck that I own now & I shouldn't have any problem! You're going to get more money for your truck selling it instead of trading it in.

 

[05RubiconLJ]

I just ordered a supercab lariat yesterday. I was required a $1000 deposit because the dealer said that he didn't want a supercab lariat sitting on his lot for 6 months! I have 6-10 weeks to sell my truck that I own now & I shouldn't have any problem! You're going to get more money for your truck selling it instead of trading it in.

I completely agree you can get more selling privately. However, at least in my case, my Tacoma will bring $36,400 according to KBB, but realistically $35,500 based on what is current on the market in my area. Prior to deciding on ordering a 2021, I almost purchased a 2020 KR. The dealer was going to give me $34,500 for my Tacoma.

In that situation, in order to recoup the tax difference, I would have to sell my Tacoma privately for $36,742. Privately selling at my $35,500 number, If the dealer will give me $33,500 or better, I will come out of the deal on the plus side.

Not all states adjust the tax basis based on the trade, like mine does. But, it is worth doing the math. In addition, my friend just sold his BMW to Carvana and got top dollar for it. Their overhead is so much lower in comparison to a brick and mortar dealer, that the can pay more to get the inventory (keep it out of competitors hands) and sell for less to gain market share. I will absolutely have a Carvana quote with me when I talk to the dealer about the trade.

 

[Viper1010]

I completely agree you can get more selling privately. However, at least in my case, my Tacoma will bring $36,400 according to KBB, but realistically $35,500 based on what is current on the market in my area. Prior to deciding on ordering a 2021, I almost purchased a 2020 KR. The dealer was going to give me $34,500 for my Tacoma.

In that situation, in order to recoup the tax difference, I would have to sell my Tacoma privately for $36,742. Privately selling at my $35,500 number, If the dealer will give me $33,500 or better, I will come out of the deal on the plus side.

Not all states adjust the tax basis based on the trade, like mine does. But, it is worth doing the math. In addition, my friend just sold his BMW to Carvana and got top dollar for it. Their overhead is so much lower in comparison to a brick and mortar dealer, that the can pay more to get the inventory (keep it out of competitors hands) and sell for less to gain market share. I will absolutely have a Carvana quote with me when I talk to the dealer about the trade.

This is the perfect response... The tax credit needs to be counted as cash in your pocket if trading in. Therefore unless you are going to ask for and get more in a private sale, the trade-in is better. This is in most states and also in most provinces in Canada as well.

When I order my truck, I asked what their trade value would be. In my case, every dealer asked how much I had owing since I financed. The first 2 dealerships I told them, the next 3 I told them to shove it. Lol Told them the amount owing has nothing to do with the value. Tell them to give you their trade-in price before negotiating any deals on the truck, and don't tell them what you owe until it's time to sign the contract. The first 2 dealers gave me a roughly 5K price above what I owed (I knew well enough that they were really undercutting me). The next three quoted me between 7-8K—a big difference. We agreed on a number with the understanding that the market and extra mileage/km could cause it to go up or down by the day of delivery, or I could trade it on the spot. They'd pay me out and hold the tax credits for the day of purchase (don't do that as if you want to walk away, you lose that credit).

With that info and my market research, I knew I needed a total value of roughly 30,500 in trade value and tax credit combined (29k +1.5K credit) in a personal sale to go that route. I also knew that my truck was valued at between 30-33 on the private market, so I put it up for 34.5k and sold it for 32.5. The bottom amount I would have taken was 31.5k as the extra 1k would not be worth the hassle of the paperwork and making sure I wasn't going to get hosed in some fraudulent transaction/forged check.

P.S. Everyone is different, and depending on the type of money you are talking this might not apply, but at $32.5K I wasn't taking any chances. Told the buyer that we would go to his bank together to get the checks made out so that I knew they were legit. I also went with him to register the truck into his name, out of courtesy for agreeing to go to the bank with me present.. gave him some piece of mind as well.

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