One of the pieces of paperwork that a car dealer uses in their business on daily basis is a car buyers order. This is typically a bill of sale before it becomes a bill of sale unless the particular dealership uses a special form. Basically the buyers order is used to write up a potential deal on an automobile and is used for a variety of different reason which I will cover below.
When you visit the auto dealer and you and the salesman agree on a vehicle and the terms to purchase that vehicle it is written up on a buyers order unless you are taking immediate delivery. If you take delivery during your visit you will complete all the paperwork which includes a bill of sale and then a buyers order will not be needed.
Uses for a Car Buyers Order
The buyers order is normally used when you will take delivery of you new vehicle at a later date. When you order a new car or have the dealer locate a new vehicle for you to purchase it is a standard practice to write an order that consists of all of your information, the details of the car including color, make, model, options, selling price and an approximate date of delivery. Then the buyer will be required to leave a deposit which will also be noted on the buyers order. If the purchase is to be financed it should also spell out those details, such as down payment, finance term and interest rate. When you return to take delivery of your automobile the buyers order will be replaced with a bill of sale that is filled out with the same information.
One of the other times that a car buyers order is used is when you are using an outside lender to purchase you new car. If you arrange your auto loan through your local bank or credit union often they will require you to provide them with a buyers order that spells out the conditions of the sale including amount financed and the VIN number (vehicle identification number or serial number) before they finalize your approval and provide the funds to the car dealership. Then after the purchase they will want a copy of the bill of sale and proof that they have a lien on the vehicle you are buying.
It is also common to leave a deposit and sign a buyers order when you are waiting to get your credit approved when you live in a state that does not allow a spot delivery. When there is a spot delivery there is no reason to have car buyers order.Click to See Car Buying Paperwork for Details
When it comes down to answering the question what is a car buyers order it is basically a receipt provided by the dealership to outline the details of your automobile purchase and a document that provides you with proof of your deposit.
Remember, when you leave a deposit with the car dealer you should never give them cash or a check. If there is a disagreement about the transaction you can cancel the deal and request your deposit be returned. Some dealers will threaten to keep your deposit or run you in circles, but if you use a credit card to leave your deposit the card issuer will gladly issue the credit and charge back the dealer. However if you pay by cash or check it may be difficult to get your deposit back and maybe not at all. Read the steps to buy a car to protect yourself.
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