MSRP GT350

[Trackaholic]

In any case I straightened him out. 56,670k MSRP and I'm absorbing his allocation fee.

$1000 ADM isn't bad at all, IMO. Congrats!

What are the details of your order? Colors, etc?

-T

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[Davey]

As stated by Drum, the law would disagree with you on that one. You need a piece of paper with the full terms of the agreement, exact price including taxes etc., signed by you and the seller/dealer to be a legally binding contract. Most states have codified the statute of frauds that says an agreement for the sale of goods over a certain dollar amount must be in writing or it's voidable.

It is highly unlikely that you signed a binding contract with the full terms of the transaction before the car is even build as those are signed upon delivery or very close to it. You likely signed an estimate or a DORA sheet that has no terms to it. If I go put a deposit to rent an apartment but haven't signed the lease what have I acquired? Nothing as either party can back out until that contract is signed by both parties; even if they quoted me the monthly rent.

This is what I have. Full documentation tax , tags regular contract. Not a dora signed sheet.

 

[krt22]

I know... That's what I told him... He was so confident in what he was saying I can only attribute it to Salesman syndrome. He was trying to sell me on what he believed not what I knew.

He had the ordering guide in front of him with prices but was not translating the information correctly.

Granted when I look at the same information upon first look I see numbers and packages but without knowing what goes where I can see where he can make those pricing mistakes.

In any case I straightened him out. 56,670k MSRP and I'm absorbing his allocation fee. However for the "R" he's got a markup hovering around 10K....But I'm working on him to get real. and throwing some other car makes in his face for that asking price that would net the same fun factor with a ton of more amenities.

Ford really needs to police these dealers. It really tarnishes their reputation to have dealers to hanging their deep pocket paydays on these cars.

Why would you absorb the allocation fee when he is going to make ten fold that on the R

 

[krt22]

This is what I have. Full documentation tax , tags regular contract. Not a dora signed sheet.

Is there a VIN on it?

I'm sure I'd you call the dealer and say you need to cancel the order but that you will need the deposit back, it won't be very hard

 

[Spa2k]

This is what I have. Full documentation tax , tags regular contract. Not a dora signed sheet.

Me too, with a deposit accepted by the dealer - plus the DORA.

 

[Davey]

never backed out of something. As of now in still in for the car.

 

[Blk2015GT]

This is what I have. Full documentation tax , tags regular contract. Not a dora signed sheet.

You're an exception then, most only get a quote/DORA sheet when ordering any Mustang because the dealer cannot accept the full purchase money before the car is even built, that'd be illegal, and typically signing the full contract requires the full price to be paid then (unless you have a friend at the dealer etc of course). They can sometimes do the signing a few days before delivery, but they are "not supposed to" before the car is even built really.

 

[Davey]

You're an exception then, most only get a quote/DORA sheet because the dealer cannot accept the full purchase money before the car is even built, that'd be illegal, and typically signing the full contract requires the full price to be paid then (unless you have a friend at the dealer etc of course).

Nope I had to sign the long sheet like when you typicaly buy a car with full totals.

 

[krt22]

You're an exception then, most only get a quote/DORA sheet when ordering any Mustang because the dealer cannot accept the full purchase money before the car is even built, that'd be illegal, and typically signing the full contract requires the full price to be paid then (unless you have a friend at the dealer etc of course). They can sometimes do the signing a few days before delivery, but they are "not supposed to" before the car is even built really.

I have fully itemized order sheet like this as well, but I know it's still not a legally binding contract, and is still different than the silly 3 foot long carbon copy sales contracts that really finalize the deal. Can't really finalize the deal until a VIN has been assigned and the dealer has formally paid the factory

 

[Blk2015GT]

Nope I had to sign the long sheet like when you typicaly buy a car with full totals.

Odd never heard of that before the car is even built.

I personally (as a lawyer) would be leery signing any formal long (the carbon) contract to pay before the car was even built for lots of reasons, mostly your legal remedies and refusal of delivery if there is damage or an error very weak as you are contractually bound. Typically they'll fix it anyway, but legally it would be a tough spot.

My first Mustang I bought from my dealer the sales guy (friend on the family but still) was like take the car home tonight before I even paid them; couldn't get a check until the next day as it was after bank closing time. Even being told it was ok, and the salesman knowing my family and that I had the money, and the VIN was on my insurance already, I politely refused and picked it up the next day.

I see the worst of the worst go wrong with contractual disputes and deals gone bad in the world so I tend to do things by the book to avoid being one of my clients for another lawyer.

I have fully itemized order sheet like this as well, but I know it's still not a legally binding contract, and is still different than the silly 3 foot long carbon copy sales contracts that really finalize the deal. Can't really finalize the deal until a VIN has been assigned and the dealer has formally paid the factory

I mean I don't think EVERY dealer is going to start backing out of orders to sell for ADM/higher ADM, in fact it will probably be the minority ot scenarios. But I guarantee you will hear at least a few stories around here in the coming months how someone ordered on at MSRP and the dealer sold it to someone else willing to pay an ADM.

 

[Steve68]

So you signed the long form contract with incomplete details such as VIN and amounts? :eyebulge:

 

[Davey]

It says buyers order on it long sheet yellow copy. Yea I believe I did this when I ordered my truck 2 yrs ago. same dealer

 

[Davey]

So you signed the long form contract with incomplete details such as VIN and amounts? :eyebulge:

No the prices are all there and obviously no Vin number.

 

[Davey]

Odd never heard of that before the car is even built.

I personally (as a lawyer) would be leery signing any formal long (the carbon) contract to pay before the car was even built for lots of reasons, mostly your legal remedies and refusal of delivery if there is damage or an error very weak as you are contractually bound. Typically they'll fix it anyway, but legally it would be a tough spot.

My first Mustang I bought from my dealer the sales guy (friend on the family but still) was like take the car home tonight before I even paid them; couldn't get a check until the next day as it was after bank closing time. Even being told it was ok, and the salesman knowing my family and that I had the money, and the VIN was on my insurance already, I politely refused and picked it up the next day.

I see the worst of the worst go wrong with contractual disputes and deals gone bad in the world so I tend to do things by the book to avoid being one of my clients for another lawyer.



I mean I don't think EVERY dealer is going to start backing out of orders to sell for ADM/higher ADM, in fact it will probably be the minority ot scenarios. But I guarantee you will hear at least a few stories around here in the coming months how someone ordered on at MSRP and the dealer sold it to someone else willing to pay an ADM.

As a lawyer. Doesn't the dealership have to sell it when a buyers order is signed. I wouldn't think they could sell it out from anyone at that point.

 

[Blk2015GT]

As a lawyer. Doesn't the dealership have to sell it when a buyers order is signed. I wouldn't think they could sell it out from anyone at that point.

That's the problem with ordering a car (most cars sold overall aren't special order). You get a bad dealership and your legal recourse is pretty limited; unless you want to hire a lawyer at hundreds of dollars per hour to fight them. And they will always have more money to fight. You're better off paying another dealer an ADM at that point to get another as the lawyer may cost more- and without a contract stating prevailing party gets fees/costs as in most states (here in FL for instance) you dont get your legal fees back either even if you "win."

Until you paid the full amount the car belongs to the dealership as they pay (or use credit) to get it from Ford. All that typically a buyer gets is an estimate of the price and taxes etc- it doesnt even meet the legal definition of a contract without major terms of the deal. Estimates/quotes have long been held in the law not to be valid contracts for anything.

Further, if the buyer wants to back out after ordering and not pay and get the deposit back, he/she can. Same with the dealer, it can back out too and sell to someone else if they have someone willing to pay more technically too.

It doesn't happen often as the dealer gets on the news or a bad name that hurts it more than completing the sale not making the $5k ADM or however much. And there are some honest dealerships out there. People hate car dealerships but there are more honest ones out there than not.

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