Anyone do a special contract when ordering an R?

[96cobra]

I have been pounding the ground hard on getting an R order, and I think I have a decent deal landed, but my dealer wants "$5,000 non-refundable!" on a car that I am paying a ADM on. On top of this, the car may not be here for 10 months. So $5K out of my bank, in their bank, with the ever so long waiting game with an unknown market on these cars when the time comes to pick it up.

This got me thinking, with this one-sided deal, I have no protection- they are going to sit on my $5K non-refundable money until they hopefully can deliver, and at that time, who knows what could happen- car could get wrecked on it's way there, whatever, and I'm left with no car and a lot of hurt.

Just curious how you guys are handling your R orders? Are your dealers requiring big chunks of money down? I think I read a thread on here where a dealer did this to someone else. Seems very one sided considering they are getting a very reasonable ADM. On top of that, I am ordering a very safe/sellable color combo, so it's not like they are taking a risk with an orange car or something.. this car is in so much demand, why do they require so worried about losing money?

Makes me want to have my attorney draw up a special contract and am wondering if anyone did anything special as far as a contract goes?

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[VooDoo387R]

I'm curious to see other people's experiences, but with a car like an R, most dealers will want a deposit to lock you into the car. Without one, they can sell it out from under you. I'm not sure how I'd feel about a non refundable deposit and 10 months is forever. You definitely need to have all your ducks in a row on this one to protect your $5k with some sort of contract or documentation. Good luck with the sale.

 

[Tomster]

I put down a 5k deposit over a year ago for an R when the order banks opened. I did not insist on a contract because the deposit was refundable. The sales manager said he would be happy to make the deposit refundable, because he said that he can turn around and sell it immediately.

So, unless you are ordering something off the wall, I would ask that the deposit be refundable. Otherwise, I would ask for a sales contract. The flip side of that is that you are dealing with a fictitious car at this point in time. There is no VIN. At the very least, I would get everything in writing and insist on a confirmation email that the R is sanctioned by ford (an allocation).

 

[CANTWN4LSN]

Ditto. If you are sure you want it at the price and ADM you negotiated, don't see a problem with nonrefundable as long as you have a purchase contract and you are certain they are getting an R. If you find a better deal and want out you lose the $5k. You could still buy it and resell it tho if you have the money.

 

[Tomster]

Ditto. If you are sure you want it at the price and ADM you negotiated, don't see a problem with nonrefundable as long as you have a purchase contract and you are certain they are getting an R. If you find a better deal and want out you lose the $5k. You could still buy it and resell it tho if you have the money.

Here's the kicker.... Give them 5K non-refundable now, they give you no timeframe when the car will be built or delivered. In the mean time, the value of the car stands a good chance of decreasing and the ADM agreed upon will a tough pill to swallow.

Don't forget the next latest and greatest is right around the corner.

I have one now. I will have two soon. Depending on what the GT500 turns out to be, I will probably be down to one again. Not bragging, but I do not expect to extract MSRP out of the car when and if I sell one of them when the 500 comes out and turns out to be desirable.

I strongly suggest you consider the future market of these R's before agreeing to a non refundable deposit and a hefty ADM.

96Cobra, I PM'd you my number, give me a call and I may be able to help you further.

 

[Cardude99]

sounds like a bad deal to me, run dont walk, run

 

[MrCincinnati]

Agree with others. $5k non refundable sounds like dealer knows the agreed price may be unjustifiable nearly a year from now. ADMs for 17s in some areas are already at $5k or lower and the 18s (and 500) aren't even out yet.

 

[Praehotec]

I put down a $7k "nonrefundable" deposit on my R order in 4/2016. The stipulation being obviously that the car be delivered and in good condition (otherwise I would get the money back). I waited a year to take delivery (3/29/17), and paid $15k adm, the lowest I found anywhere within my state (within a reasonable time frame). Not knowing what the market would be like with Rs when the car was delivered, I did ask them for written receipt of payment and the agreed upon price. My expectation being that both parties would honor the agreement despite any changes in pricing.

Everything worked out fine, although I suppose, if anything, the pricing would have perhaps shifted slightly in my favor, with the announcement of the 2018s, and the extended 2017 production run. Personally, I am just enjoying the fact that I actually have such a special car in my garage, and not worrying about the change markups as production goes on (despite paying the adm only because I thought production would end sooner and the absolute number produced lower).

All that being said, I think the market seems to have shifted somewhat, and you probably have more bargaining power/options available than I did in early 2016. I think, in the end, as long as you are comfortable with paying the adm amount, and the dealer is reputable, then it's probably fine to set a price and pay the deposit now. Don't do it though, if you'll be really upset if you see people getting Rs for less cost later, however, as adms may continue to fall.

 

[Kenwood1113]

I ordered my GT350R in April of last year, it has been built, is in transit with an estimated delivery date of 8/19/17 and I have the first allocated Jeep Trackhawk coming into our Jeep dealership. Neither dealership, both of which are owned by the same conglomerate, asked for a deposit.

Maybe you should ask yourself the question, "why are they insisting on a non-refundable deposit if people are truly lined up for this car."

 

[mike.s]

i would walk

 

[JT1]

Walk

 

[PP0001]

I have been pounding the ground hard on getting an R order, and I think I have a decent deal landed, but my dealer wants "$5,000 non-refundable!" on a car that I am paying a ADM on. On top of this, the car may not be here for 10 months. So $5K out of my bank, in their bank, with the ever so long waiting game with an unknown market on these cars when the time comes to pick it up.

This got me thinking, with this one-sided deal, I have no protection- they are going to sit on my $5K non-refundable money until they hopefully can deliver, and at that time, who knows what could happen- car could get wrecked on it's way there, whatever, and I'm left with no car and a lot of hurt.

Just curious how you guys are handling your R orders? Are your dealers requiring big chunks of money down? I think I read a thread on here where a dealer did this to someone else. Seems very one sided considering they are getting a very reasonable ADM. On top of that, I am ordering a very safe/sellable color combo, so it's not like they are taking a risk with an orange car or something.. this car is in so much demand, why do they require so worried about losing money?

Makes me want to have my attorney draw up a special contract and am wondering if anyone did anything special as far as a contract goes?

Just an assumption on my part but I would suggest that your dealership is insisting on a non refundable deposit based on you ordering this car to your liking and if you walk away at the last minute they feel they will be stuck with a car personalized to your taste and not someone else thus a non refundable deposit.

Having said that and as you said earlier you are ordering a safe and sellable color combo but unfortunately many dealerships don't think that way therefore they are insisting on a non refundable deposit.

I have come across your very situation numerous times and just walked away based on the fact that the dealerships that I was working with at the time also wanted an ADM and a non refundable deposit.

Now if a dealership was giving me an MSRP deal and wanted a non refundable deposit then I would probably go with that but certainly not with an ADM as well.

My advice to you would be to either secure an MSRP deal with this dealership and then provide them with a non refundable deposit or I would walk away and look for someone that will.

Good luck and hope everything works out well for you!

;)

 

[Donkey]

I was personally put in a similar predicament, I will tell my story so maybe it can help you or others make a decision. I had been working to get an R since around November of last year, working with several different dealers and searching the net and Ford inventories. Eventually a dealer I had contacted very early on said that if they had a "firm deal" on an R that they could likely get an allocation and since they have a no ADM policy this allocation, if awarded, was MSRP... Now with all the knowledge base I had this seemed very risky, as this "firm deal" was a ten thousand dollar non-refundable deposit. I pondered this for several hours as this meant I would have to sell or trade my '16 track pack. So after much deliberation I decided to take the chance, I did this on Memorial Day and listened to several people and dealers tell me that my dealer wouldn't get a car because all of the allocations had already been given out etc. So I trailered the car 3hr's away took a slight hit on the trade and made my 10k deposit. We went over a small hand written contract on the order that stated it was non-refundable unless they could not get the allocation. In late June I had went from "there is a good chance of getting a '17 model" to "things are promising" to "the owner seemed optimistic after speaking to the regional." Growing a little worried I decided to call the owner of the dealer myself, thankfully he had been working very hard with the regional office to get the allocation, at this time I told him that we needed to decide which point we knew the allocation wasn't happening and I would get my money back and move on. He agreed and said let's give it until the end of July, so that's what we did. The June 23rd was when this conversation took place, he immediately called the regional manager who said at that point there was a 50/50 chance, somewhat discouraged I began searching in my spare time. The following Wednesday I received a call from the owner of the dealer who said "according to the regional things are looking better".. So I was thinking, sweet now I'm at 60/40 or perhaps 70/30.. lol July 3rd I received a call from the owner again, this time telling me they had got the allocation.. needless to say 10 minutes or so of my day was consumed by me running around the house like a small child. The car is due to be built the week of September 11th. While this is a late delivery for a '17 (probably early October) it is well worth the msrp deal ordered to my spec in my opinion.

If you know the dealer has an allocation and you're okay with the 5k over and 5k deposit then do it. This early in the '18 game (have dealers got the R allocations for '18 yet?) I'm not sure I would do it unless it's an msrp deal. Do I think the bottom will fall out of values anytime soon? No. Do I think they'll build 1k for '18? No. I personally was willing to do 5k over for an order to my spec but got lucky and found the msrp deal via the help of a friend.. But I must say the msrp deals still require a bunch of work and you still may not end up with one. They are a long way from just falling out of the sky for these cars. 5k is still what I consider a good ADM (if there is such a thing).

 

[Tomster]

I was personally put in a similar predicament, I will tell my story so maybe it can help you or others make a decision. I had been working to get an R since around November of last year, working with several different dealers and searching the net and Ford inventories. Eventually a dealer I had contacted very early on said that if they had a "firm deal" on an R that they could likely get an allocation and since they have a no ADM policy this allocation, if awarded, was MSRP... Now with all the knowledge base I had this seemed very risky, as this "firm deal" was a ten thousand dollar non-refundable deposit. I pondered this for several hours as this meant I would have to sell or trade my '16 track pack. So after much deliberation I decided to take the chance, I did this on Memorial Day and listened to several people and dealers tell me that my dealer wouldn't get a car because all of the allocations had already been given out etc. So I trailered the car 3hr's away took a slight hit on the trade and made my 10k deposit. We went over a small hand written contract on the order that stated it was non-refundable unless they could not get the allocation. In late June I had went from "there is a good chance of getting a '17 model" to "things are promising" to "the owner seemed optimistic after speaking to the regional." Growing a little worried I decided to call the owner of the dealer myself, thankfully he had been working very hard with the regional office to get the allocation, at this time I told him that we needed to decide which point we knew the allocation wasn't happening and I would get my money back and move on. He agreed and said let's give it until the end of July, so that's what we did. The June 23rd was when this conversation took place, he immediately called the regional manager who said at that point there was a 50/50 chance, somewhat discouraged I began searching in my spare time. The following Wednesday I received a call from the owner of the dealer who said "according to the regional things are looking better".. So I was thinking, sweet now I'm at 60/40 or perhaps 70/30.. lol July 3rd I received a call from the owner again, this time telling me they had got the allocation.. needless to say 10 minutes or so of my day was consumed by me running around the house like a small child. The car is due to be built the week of September 11th. While this is a late delivery for a '17 (probably early October) it is well worth the msrp deal ordered to my spec in my opinion.

If you know the dealer has an allocation and you're okay with the 5k over and 5k deposit then do it. This early in the '18 game (have dealers got the R allocations for '18 yet?) I'm not sure I would do it unless it's an msrp deal. Do I think the bottom will fall out of values anytime soon? No. Do I think they'll build 1k for '18? No. I personally was willing to do 5k over for an order to my spec but got lucky and found the msrp deal via the help of a friend.. But I must say the msrp deals still require a bunch of work and you still may not end up with one. They are a long way from just falling out of the sky for these cars. 5k is still what I consider a good ADM (if there is such a thing).

Well said

 

[Etchhead]

I had the $5 deposit on my car and read the thread "dealer took my R away" and got nervous so paid for entire car before acceptance. So a few weeks on a train plus 5 weeks sorting out a suspension glitch. I had title and plates before the car!

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