Question regarding deposit

xfifty · #1 (**permalink**) 02-04-2006, 01:27 PM

I apologize in advance 'cause I know this had been discussed probably many times in here.

I'm thinking about ordering a G-Spyder and I was asked for non-refundable 20k deposit. Is this a norm or the dealer is playing hard ball?

Appreciate it.

raymondo · #2 (**permalink**) 02-04-2006, 01:37 PM

Non refundable is crazy. They are just trying to create hype and make money off your misfortune if something goes wrong. No doubt they could sell it fast if you bailed, IMO.

ltadmin · #3 (**permalink**) 02-04-2006, 01:59 PM

Agree with Raymo 100% !!! there is no such thing as a Non Refundable Deposit, *unless* they also sign a Guranteed Delivery Date with specific options Contract, that penalizes them for Non-Performance!! Also, the standard deposit Nationwide Average is 10K (refundable).

Larry826 · #4 (**permalink**) 02-04-2006, 02:07 PM

Which dealership? $10k and you get it back if you bail for any reason....Period no matter what they tell you.

ltadmin · #5 (**permalink**) 02-04-2006, 02:22 PM

Quote:

Originally Posted by Larry826

Which dealership? $10k and you get it back if you bail for any reason....Period no matter what they tell you.

Well, I've never heard of just giving a check for $10K-$20K shaking hands saying thanks and going home to wait for a phone call. (I'm sure it's probably happened but it's certianly not a good way to do business).

There is supposed to be a Signed Contract...like any Contract *read it* (or have a Lawyer read it for you) before you sign!!!!! Yes there will likely be stipulations of performance, but both sides should have "Performance Rules" that need to be adhered to, not just one side. In any intelligent contract, BOTH SIDES, have Performance and Safety Clauses.

For example: What do you get if the Dealers Sells *your car* out from underneath you to someone (much farther down in the line) that is willing to pay a Premium to userp your position in line?????? So, don't get ahead of youself!!! Shop Different Dealers and get a Contract that Protects YOU & Your Money as well as your place in line!!!

**AlxAmg** · #6 (**permalink**) 02-04-2006, 02:32 PM

Dude... Call Roy and dont sweat it... That non refundable stuff is BS!!!

www.catsexotics.com

Seems like it would be a trouble free experience, and he has a few.

ltadmin · #7 (**permalink**) 02-04-2006, 02:37 PM

Alx,

rightfully so, some guys are concerned about warranty issues and establishing a local Dealer relationship. Nothing wrong with that as long as it's one of the good Dealers, problem is there are still many Bad Dealers around, because the system hasn't cleaned itself fully yet.

**AlxAmg** · #8 (**permalink**) 02-04-2006, 03:12 PM

I know what you mean Itadmin...

I know where thier coming from when they say "non-refundable" and i get the reasoning, but thats no way to treat a real buyer. I mean if the guy is willing ot put up money, no need to start getting into "non-refundable talk". Feeling a customer out is a salesmans resposibility especially on this level car.

Maybe its just me, but i dont really agree with the non-refundable schtick when establishing a relationship with a new guy... Thats why i recc. Roy... but either or, whatever the buyer feels is in his best interest.

Regards!

I agree I would'nt give a car salesman a Non-Refundable amount of anything over a $1000 under any circumstances, especially something based on a vague maybe delivery date!!!

(opps, I hit edit instead of quote, sorry!!

)

xfifty · #9 (**permalink**) 02-04-2006, 05:22 PM

Thank you all for the prompt response. I tried to contact a dealer out of state but they told me I have to purchase it from my regional dealer which is in Texas.

ltadmin · #10 (**permalink**) 02-04-2006, 06:27 PM

Quote:

Originally Posted by xfifty

Thank you all for the prompt response. I tried to contact a dealer out of state but they told me I have to purchase it from my regional dealer which is in Texas.

No Wonder you're getting the BS Non-Refundable Story!!! LoD has a pretty bad reputation so far, and they've only been around for 2 yrs or less (and they already Sold out to Boardwalk Group in Dallas finalized within the last 20 days, hope BW can turn sour milk into butter).

In this case I would DEFINATELY have my own lawyer either draw up the Contract or revue/revise their contract to insure they are Liable for any Non-Performance on their part before giving them a penny!!!!! If they refuse, this is grounds to buy from any Dealer of your choice.

Business is Business works both ways if you protect yourself upfront!!!

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