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Dealers are getting greedy, already!!

Old 01-29-2013, 11:02 AM
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Larry/car
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Default Dealers are getting greedy, already!!

Be careful, if you have a verbal commitment with a Dealer on a new C7, you really don't have anything. If it isn't on paper it didn't happen. Evidently some dealers are backing out of their prior commitments to place orders at MSRP. I suggest you check immediately with your dealer and get a purchase agreement in place ASAP. If you paid a deposit read the document again, make sure it details the transaction, item by item. I don't recommend any transaction that doesn't have an actual closing price. MSRP is not a price and is subject to interpretation. GOOD LUCK
Old 01-29-2013, 11:05 AM
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brian98vette
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A lot of the smaller dealers won't even see one this model year. Use the forum dealers - the top 3 Corvette dealers in the US are offering MSRP, and they will have allocations.

I've used MacMulkin (Tommy Jr) for my past purchases and would recommend them - they're the #2 dealer in the US.

Old 01-29-2013, 11:06 AM
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BlueOx
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Originally Posted by Larry/car
Be careful, if you have a verbal commitment with a Dealer on a new C7, you really don't have anything. If it isn't on paper it didn't happen. Evidently some dealers are backing out of their prior commitments to place orders at MSRP. I suggest you check immediately with your dealer and get a purchase agreement in place ASAP. If you paid a deposit read the document again, make sure it details the transaction, item by item. I don't recommend any transaction that doesn't have an actual closing price. MSRP is not a price and is subject to interpretation. GOOD LUCK
The only meaningful commitment that involves buying something for over $50,000 is the one that is on paper.

Where are you getting this information and why is this different than any other dealer transaction?
Old 01-29-2013, 11:23 AM
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Larry/car
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One of our Forum members is evidently having dealer blues. I thought it of high importance so I started this thread.
Old 01-29-2013, 11:31 AM
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FloydSummerOf68
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Originally Posted by Larry/car
Be careful, if you have a verbal commitment with a Dealer on a new C7, you really don't have anything. If it isn't on paper it didn't happen.
Do people actually need to be told that?
Old 01-29-2013, 12:10 PM
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vray
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Shame on the dealers trying to make as much as they can and subscribing to the theory of supply and demand! Capitalist pigs!
Old 01-29-2013, 12:23 PM
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Originally Posted by vray
Shame on the dealers trying to make as much as they can and subscribing to the theory of supply and demand! Capitalist pigs!
Well, yes, actually so - if they are doing so dishonestly by reneging on a prior commitment and raising their price after having agreed to MSRP.

Anybody remember what happened to then Forum sponsor dealer Maxie Price when they had taken deposits on a waiting list for C6 ZO6s at MSRP and then decided they could make more money by selling to others.....?


Karma does happen!
Old 01-29-2013, 12:40 PM
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CaryKen
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Originally Posted by Larry/car
I don't recommend any transaction that doesn't have an actual closing price. MSRP is not a price and is subject to interpretation.
Of course that's true, but nobody should have done a "transaction" yet in the sense of buying something. MSRP is not a price, but it is an objective, publicly disclosed figure that you can base a promise of future relative pricing upon. You certainly could not have put down a deposit based on a hard dollar "price" at this point. Nobody knows what the pricing is going to be!

A refundable deposit with an option to order once you see pricing is not unreasonable. I have no argument with the fact that your deposit should only be given with accompanying paperwork guaranteeing the terms of the agreement, but requiring "an actual closing price" is impossible this month.

That being said, our friend in the other thread got hosed and should give his dealership manager fair warning of the public exposure he plans to give them about his treatment and their business practices and trustworthiness. Then it's up to the dealer which is more important to him... The potential extra profit on one sale or the ongoing damage to his reputation.
Old 01-29-2013, 06:54 PM
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CRABBYJ
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Originally Posted by CaryKen
Of course that's true, but nobody should have done a "transaction" yet in the sense of buying something. MSRP is not a price, but it is an objective, publicly disclosed figure that you can base a promise of future relative pricing upon. You certainly could not have put down a deposit based on a hard dollar "price" at this point. Nobody knows what the pricing is going to be!

A refundable deposit with an option to order once you see pricing is not unreasonable. I have no argument with the fact that your deposit should only be given with accompanying paperwork guaranteeing the terms of the agreement, but requiring "an actual closing price" is impossible this month.

That being said, our friend in the other thread got hosed and should give his dealership manager fair warning of the public exposure he plans to give them about his treatment and their business practices and trustworthiness. Then it's up to the dealer which is more important to him... The potential extra profit on one sale or the ongoing damage to his reputation.
Also, do a credit/debit card transaction or US Cash with dealer receipt for the deposit. A check will only seal the deal when it is deposited by the dealer thus being cashed giving you a record. Otherwise they can just not cash the check then just hand it back to you later on to cancel. Unethical, yes but can be done.

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