Buying the 2017 50th anniversary in another state

Haoie · 05-04-2019, 07:16 PM

I'm a resident in Florida and planning on buying a vehicle over at Tennessee. I’ve got a co-signer and are financing the vehicle through the bank but the salesman asks for my bank lien holder information as well as address and number, what's the reason why for that? I haven’t even gotten to negotiating the price of vehicle nor checked it out in person. Should I still give the salesman the info without discussing on final price?

Joshinator99 · 05-04-2019, 09:36 PM

Quote:

Originally Posted by Haoie

I'm a resident in Florida and planning on buying a vehicle over at Tennessee. I’ve got a co-signer and are financing the vehicle through the bank but the salesman asks for my bank lien holder information as well as address and number, what's the reason why for that? I haven’t even gotten to negotiating the price of vehicle nor checked it out in person. Should I still give the salesman the info without discussing on final price?

Probably looking to make sure you do have funding lined up. Little odd to be asking for that now, but as long as your bank does not send him money yet, you should be good. Your bank should be waiting to see an executed Purchase & Sale Agreement before paying the dealer.

Wvdirtroads · 05-05-2019, 02:17 AM

I wouldn’t give it to them. Get a preapproval letter from your bank and send that to the dealer.

Joshinator99 · 05-05-2019, 06:48 AM

Quote:

Originally Posted by Wvdirtroads

Get a preapproval letter from your bank and send that to the dealer.

Which gives them the exact info they were looking for...

Haoie · 05-05-2019, 09:23 PM

Quote:

Originally Posted by Joshinator99

Which gives them the exact info they were looking for...

Does the bank lein holder information contain a certain code? Because as of right now the check is with my cosigner so I only told the salesman the bank from where I obtained the check from in my email

Joshinator99 · 05-05-2019, 10:33 PM

Quote:

Originally Posted by Haoie

Does the bank lein holder information contain a certain code? Because as of right now the check is with my cosigner so I only told the salesman the bank from where I obtained the check from in my email

No, but the dealer will probably call your bank to verify you’re approved. Not a big deal.

05-04-2019, 07:16 PM	#1
Haoie Drives: 2017 50th Anniversary SS Join Date: May 2018 Location: Florida Posts: 83	Buying the 2017 50th anniversary in another state I'm a resident in Florida and planning on buying a vehicle over at Tennessee. I’ve got a co-signer and are financing the vehicle through the bank but the salesman asks for my bank lien holder information as well as address and number, what's the reason why for that? I haven’t even gotten to negotiating the price of vehicle nor checked it out in person. Should I still give the salesman the info without discussing on final price?

05-05-2019, 02:17 AM	#3
Wvdirtroads Drives: Silverado Join Date: Nov 2018 Location: West Virginia Posts: 82	I wouldn’t give it to them. Get a preapproval letter from your bank and send that to the dealer.

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