1K over sticker, potentially backing out...

[VoodooV8]

New guy here. Long time lurker.

Have a AG GT350 with tech on order (not built yet) ... been thinking about backing out since I already have another GT350 on order from another dealership. And honestly, I don't think I need TWO GT350's at my house, so I'm thinking about giving it to someone else possibly. Maybe take delivery and sell on craigslist? I dont know!

I did a 1000 dollar deposit for 1000 over sticker...

If I was to back out, what happens with my deposit? What should I do in this situation?

Thanks!

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[krt22]

The dealer should/would simply refund the deposit and move on to a new buyer. PM'd you

 

[VoodooV8]

The dealer should/would simply refund the deposit and move on to a new buyer. PM'd you

They kept mentioning it was "non-refundable".

 

[fuhrius]

They kept mentioning it was "non-refundable".

if you signed up to a non-refundable deposit, I'd guess it's non-refundable.

 

[Bossing]

Advertise it, sell it on fleabay or craiglist like you stated. Be up front on all the conditions.

 

[Rated R]

I'd like to know who this dealer is, Voodoo?

 

[krt22]

if you signed up to a non-refundable deposit, I'd guess it's non-refundable.

In califonia there is no such thing, but this is not a CA car so it might be a bit different. Really depends on what he actually signed (ie a full purchase contract or not).

But at 1k ADM, should be easy enough to transfer it to another person.

 

[VoodooV8]

In califonia there is no such thing, but this is not a CA car so it might be a bit different. Really depends on what he actually signed (ie a full purchase contract or not).

But at 1k ADM, should be easy enough to transfer it to another person.

Yeah it's not a CA deal but get this.. someone just PM'ed me offering a bonus $1,000 for me if I transfer the car. I don't think that's even legal. Is this car really that difficult to get?

 

[derieuz]

Keep it and have it delivered, you will easily be able to get every penny you paid for it back, you might be able to make a little money off of it and still make the buyer happy. If you were to put it on these forums for $2500 above sticker on here, you'd have a buyer instantly and make 1500

 

[L8APEX]

Keep it and have it delivered, you will easily be able to get every penny you paid for it back, you might be able to make a little money off of it and still make the buyer happy. If you were to put it on these forums for $2500 above sticker on here, you'd have a buyer instantly and make 1500

So he should risk over $50k to maybe make 1500?

 

[VoodooV8]

Guys the issue I have is this: if let's say I accepted the 1000 dollar offer for me transferring to him.. is that illegal? Is it possible to transfer allocations at all?

 

[Trackaholic]

I would do the following:

- Find a buyer and have a three-way between them, the dealer, and you. You can probably get the buyer to front a $1000 deposit and have the dealer return yours once they get the new one from the buyer. That way you get your $1000 back, the dealer still gets the $1000 deposit, and the buyer has now fronted the $1000 which makes them more legitimate in the eyes of the dealer.

And I don't think the cars are difficult to find, but finding one without a huge markup is the trick. For $1000 ADM you'll have a ton of interest IMO.

-T

 

[Spa2k]

What makes anyone who backs out of a deal think he has any ownership of the incoming car, unless he's paid for it in full and taken delivery? If I were the dealer, I'd give the guy his deposit back (just for good will, whether he deserved it or not) and call the next local customer in line and make his day. IMHO, placing multiple orders at different dealers is just as slimy as dealers charging ADM.

 

[krt22]

Guys the issue I have is this: if let's say I accepted the 1000 dollar offer for me transferring to him.. is that illegal? Is it possible to transfer allocations at all?

Not illegal, but also up to the dealer to transfer the deal, they could simply cancel it if they knew you want to back out.

The car is still technically unsold, so you are basically just selling your spot in line.

 

[derieuz]

So he should risk over $50k to maybe make 1500?

There is not any risk.... People are paying 10k ADM... The worst that would happen is he sells it for what he paid for it...

And also I am not sure what the OP was saying about something being illegal, but you put the deposit down, its your car once you take delivery. You can do whatever you want with it, whether it means keeping it, selling it for what you paid for it, or flipping it for profit.

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