[shiftdnb]

Finally getting ready to pick up my car and we hit a little snag today. Was going to pick it up tomorrow and was getting everything in order when my dealer let me know they only accepted certified checks and not drafts. My bank only does drafts unless buying at a European dealership (I'm assuming ED) so I thought I was going to have to walk away from the deal because BMW financing wasn't even going to come close to the rate I was able to get. We have since worked it out where I will just have to wait until the draft clears to take delivery.

I've never ran into this problem before so I looked into it and it seems like it is something that does happen and most dealerships are setting up financing for others in case the draft doesn't clear or some banks will give you a check but only if you re-apply for the financing, which in my case the rate has gone up with the recent increase in the interest rates in March.

Just something to be wary of if you're waiting on your ship to come in with a pre-approved draft.