Buying and Financing a Factory Car

Car shopping takes patience — and lots of it. With a shortage of vehicle microchips and other parts, demand currently outweighs supply, making it even more challenging. It’s rare to visit a dealer and drive home with a new vehicle the same day. Because waiting for the perfect auto is inevitable, you may consider placing a custom order with the factory and getting the vehicle you want. Here’s what to expect if you are considering a custom-ordered vehicle.

How to Place a Factory Order

To start a factory order, you can begin your research online. Only a few manufacturers, like Tesla, allow you to place an order online without involving a dealership. For most manufacturers, you will need to build your order on their site, then contact a local dealership to place the order. The dealership will handle the paperwork and manage your vehicle’s delivery.

You can also start the process with Texell’s Car Buying Service, powered by TrueCar. Start by selecting the vehicle make and your zip code. Then select the model, trim, paint color, interior finishes, and more. Once you complete the specifications, you’ll get a list of local dealerships to place your order. Look through their reviews or get recommendations to make sure you’re choosing a trusted dealership.

Although you don’t have as many opportunities, you can still negotiate pricing with a factory-ordered vehicle at the dealership. Be wary of any dealership add-ons — these are unnecessary with a custom order — and review the invoice carefully before making your deposit. The deposit amount varies, but most dealerships require $1,000 or less to secure your order. Check with the dealership on whether the deposit is refundable if you change your mind about the vehicle.

The dealer should provide a buyer’s order that details your vehicle’s price, options, and fees. The dealer can estimate the delivery, but in our current market, there may be delays.

Finance Your Order with Rate-Lock Auto Loans

Getting pre-approved for an auto loan makes financing a factory-ordered vehicle easier. With Texell’s new Rate-Lock Auto Loan, you can lock in today’s rates even if you must wait weeks or months for your new car to arrive. Your payments will be deferred for up to four months while you wait for your vehicle, and your due date will be set within 30 days of your car’s delivery.¹

With a Rate-Lock Auto Loan, you must know your financing terms and deadlines and get updates from the dealership often. You will need to contact Texell to update the paperwork if there are extended delays before your vehicle arrives. To learn more and to get approved, visit Texell.org/RateLock.

For more information on Texell’s auto loans, fast and easy preapprovals, and payment protection, visit Texell.org/Auto. If you have questions or want to talk with a representative, call or text 254.774.5160.

¹ If your vehicle isn’t delivered within four months, you’ll need to contact Texell and reapply. Visit Texell.org/RateLock for the full terms and conditions.

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