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Bit of a pickle… home purchase.

Christopher

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Here is a controversial response and may not apply to you.
If buying a car is going to derail your mortgage financing, you may be overextending yourself financially.
That is not true. It would not be wise to add any more lines of credit before you close or even credit inquiries, regardless of what your DTI is.
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ironpig

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Well financing is like step 3 is the problem. Not sure how long it takes to get there but I’ve heard of a lot of folks insuring and paying for their car long before they ever took delivery.
You will be fine. It will take a couple weeks and just let your guide know you don't want to complete the payment steps until the truck arrives at the service center and you know it doesn't have any issues. You can do it all in 48 hours. There is no reason to pre-pay or pre-complete your steps. It doesn't have any affect on the truck timeline.
 
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loudog3114

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You will be fine. It will take a couple weeks and just let your guide know you don't want to complete the payment steps until the truck arrives at the service center and you know it doesn't have any issues. You can do it all in 48 hours. There is no reason to pre-pay or pre-complete your steps. It doesn't have any affect on the truck timeline.
Perfect. That's the answer I was hoping for.
 

ironpig

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Perfect. That's the answer I was hoping for.
Yeah - my guide actually told me not to complete the steps until he knew the truck was in QC at the service center because at the time there were enough problems that people were pre-paying for trucks that then needed to be in service for a few weeks for Quality Control repairs etc. It's way better now, but still, don't feel the pressure of the 8 steps. Completing them faster doesn't get your truck any faster and same with going slow.
 

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Timo

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Yeah - my guide actually told me not to complete the steps until he knew the truck was in QC at the service center because at the time there were enough problems that people were pre-paying for trucks that then needed to be in service for a few weeks for Quality Control repairs etc. It's way better now, but still, don't feel the pressure of the 8 steps. Completing them faster doesn't get your truck any faster and same with going slow.
Well said.
 

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Here is a controversial response and may not apply to you.
If buying a car is going to derail your mortgage financing, you may be overextending yourself financially.
Disagree. Mortgage companies don’t want to see changes to credit reports because they have to redo the process to DETERMINE if you are overextended, even if you CAN afford it.
 

jphillips97

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Disagree. Mortgage companies don’t want to see changes to credit reports because they have to redo the process to DETERMINE if you are overextended, even if you CAN afford it.
If you have plenty of margin, the mortgage company will not bat an eye.... Being a frequent mover for work, I have personally had 7 mortgages.... The only time there is significant rework is if you are getting close to margins and we as Americans tend to like living close to those financial margins....

For the sake of transparency, I am a guy that only buys cars with cash.... I do not believe in financing cars so I am certainly extremely conservative with finances.....

All that said, if you are worried about a car loan derailing a mortgage, you may want to look at your situation before you get under that car loan..... YMMV
 

zonehawk

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A different question: how many people took delivery within three weeks of starting the Eight Steps?

Maybe just let Rivian do the foot dragging.
Mine was within a week of the 8 Steps opening.
 

domoplaytime

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Mine was within a week of the 8 Steps opening.
I've always wondered about cases like yours. Was it a Shop order? If not, any idea why they waited so long to tell you it was nearing delivery?
 

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zonehawk

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I've always wondered about cases like yours. Was it a Shop order? If not, any idea why they waited so long to tell you it was nearing delivery?
Two things it might be - my understanding is Denver is delivering more vehicles than just about anywhere else so might be limitations in staff pushing account status fast enough, or the opposite... they do notify the same time other service centers do and they are more efficient in reviewing the vehicles and getting them out for delivery. There were two other people there taking delivery while I was taking my delivery which was cool to see. I've seen similar timelines to mine for people also out of the Denver service center.
 

jjwolf120

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No mortgage company wants to see any credit inquiries or changes after an offer is made before the clear to close.
When I was refinancing, the mortgage company freaked out because my AAA memebership renewed on a little used credit card. The credit card went from a zero balance to $55.
 
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loudog3114

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All that said, if you are worried about a car loan derailing a mortgage, you may want to look at your situation before you get under that car loan..... YMMV
Eyeroll. Thanks dad. I’m good.

Like I said, every mortgage broker will tell you not to touch your credit until close and I plan to listen to them.
 

domoplaytime

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my understanding is Denver is delivering more vehicles than just about anywhere else
And Denver is supplied by truck, not rail.
 

jphillips97

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Eyeroll. Thanks dad. I’m good.

Like I said, every mortgage broker will tell you not to touch your credit until close and I plan to listen to them.
As stated earlier, this was not directed at you since I do not know your situation, but in America we have a serious debt problem and I just encourage people to consider their circumstances... As I said, I have had 7 mortgages while moving around in the military so I am very familiar with the process. The reason most mortgage brokers make that recommendation is because most Americans carry a lot of debt and are living at the edge.....

Again not directed at you, but just a general comment from an overly financial conservative person....
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