Normal turn around time with broker

[squirrel_nut_get]

What is the normal turn around time when dealing with a broker after you have paid their fee and have settled on a price?

[mani_is_kool]

Depending on the broker. Could take a few hours to few days to even a month or more in these times. Brokers don’t have a secret inventory safehouse.

[mllcb42]

Always good practice to ask the broker what their tomeline is like, especially given the current market.

[forbs]

Mine took 10 days from payment to delivery of vehicle.

[squirrel_nut_get]

With the broker I am dealing with the car is in stock - so no need to look for anything. Credit was run but no word if was approved or not. I know it was run because I received an alert from the credit bureau and that was 2 days ago.

I thought it would be more of a seamless transaction but at least I am getting a good deal…I hope.

[mllcb42]

What did the broker say when you asked?

[squirrel_nut_get]

Broker advised it was in process. It’s my first time using a broker and I thought it would be like my last lease with Honda where it was pretty much in and out (albeit hours at the dealer).

[mani_is_kool]

Not saying this for others but lately Honda / Acura Financial has been taking longer than normal times for approvals. At least last month on Memorial weekend it was pretty high. Still if the credit app has been submitted during business hours 24 - 48 hours could be a possibility. Sometimes HFS does ask for residency / visa docs as well (for whom applicable)

[AutoCompanion]

Yeah we’ve had very long times, our GM has stepped in and is expediting things but it’s out of our control atm.

We’ve been going as far as releasing cars without funding after a stupid wait time.

[squirrel_nut_get]

@mani_is_kool

Not saying this for others but lately Honda / Acura Financial has been taking longer than normal times for approvals. At least last month on Memorial weekend it was pretty high. Still if the credit app has been submitted during business hours 24 - 48 hours could be a possibility. Sometimes HFS does ask for residency / visa docs as well (for whom applicable)

Makes sense now because what I am trying to lease is an Acura.

[mani_is_kool]

Oh yes. Best to be patient. I’m sure your broker is also trying to get this sorted out for you at his earliest as no advantage for him to hold off or in better terms, not much he can do in this situation.
Good luck and enjoy your new Acura!

[AA-NJ]

I will preface this post with the statement that: demand on brokers from Leasehackr comes in difficult-to-predict waves.

There are times where business is slow and responses are immediate, and other times where everyone is heads down because leads are just pouring in from every direction.

This type of chaos is just… the nature of the Internet.

Now, that being said, I understand that many people are operating on shorter car-buying timelines. If left to natural forces, it’s easy to be overwhelmed with leads during peak demand curves.

What I’ve learned from this Community is: To operate at scale, the Broker must have a process and/or policy in place to explain how long they expect to hold on to your money. Delays happen, but whatcauses the most stress for customers is: when they’re uncertain about the fate of their broker fee, and their car delivery at the same time.

For example:

@AA-NJ

• I leverage fail-open refunds. Meaning: I have 7 days to service your
  deal before the bank expires the authorization. If I fail to service your
  deal within 7 days of collecting the authorization, I will unfortunately
  have to decline making the vehicle available to you, and recommend that you
  take your business to one of many competitors. I’d rather send you somewhere
  else than give you a terrible experience – and more than 7 days seems to be
  the threshold most customers are looking for!

In my case, I’ve made significant investments in technology and process to enable for a 7-day fail-open refund policy. I can’t always guarantee how long your deal will take, but I can define what my failure to deliver looks like, and how the mechanics of refunding you will work in that situation.

The “Safe Shopping Policy” was not something I realized I needed until after I had been operating for a while, so I appreciate OP for asking this question.

[squirrel_nut_get]

Have to say - that is great customer service.

[aronchi]

you’re not one of my customers right? been going through hell with volvo being down the last few days…

[squirrel_nut_get]

Nope. Not you.

[penone]

@aronchi

you’re not one of my customers right? been going through hell with volvo being down the last few days…

Curious - what problems are you seeing with Volvo?

[Mikemikemike]

Ditch the broker. Assuming the car is in stock and you paid the fee and submitted your credit app there’s no reason why it shouldn’t be a short turn around. If they’re too busy they should let you know.

I bet this is the same broker who I made refund my deposit a couple days ago.

I ended up using Stellar Auto for my XC60. From first contact to picking up the car was about 24 hours. Before reaching out to Stellar and this other shitty unnamed broker, I reached out to Aronchi who was super responsive and offered a great deal on a loaner but I was looking for a new one with a lower MSRP than he had.