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Old 09-23-2014, 06:47 PM
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tail_lights
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Default Questions about non-refundable deposits

My local dealer said he will honor supplier pricing. Before he orders he wants a $2500 non-refundable deposit. Now I have been reading up on this 'tactic' and think I am more confused now than when I started. I assumed non-refundable (N-R for short) was exactly what it says, which I don't like simply because I've read horror stories here on the forum of how some dealers change the pricing at the last minute. So with that in mind I am thinking no way. However, I also read that N-R only pertains to if I back out of the sale (change my mind, lack of financing, etc.), but if the dealer changes anything that I can get the money back. So if I get a contract (purchase order?) with our agreed pricing up front with the N-R deposit on it am I covered? I understand that this is probably getting into legal aspects but..... WWCFD?
Old 09-23-2014, 06:55 PM
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John Ulrich
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If you are doing a museum or courtesy delivery you can understand a dealer wanting "commitment". My dealer got a 10% deposit and no refund after 3000 level of production is reached. I had no problem with this......I wanted the car.
Old 09-23-2014, 07:03 PM
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Originally Posted by tail_lights
My local dealer said he will honor supplier pricing. Before he orders he wants a $2500 non-refundable deposit. Now I have been reading up on this 'tactic' and think I am more confused now than when I started. I assumed non-refundable (N-R for short) was exactly what it says, which I don't like simply because I've read horror stories here on the forum of how some dealers change the pricing at the last minute. So with that in mind I am thinking no way. However, I also read that N-R only pertains to if I back out of the sale (change my mind, lack of financing, etc.), but if the dealer changes anything that I can get the money back. So if I get a contract (purchase order?) with our agreed pricing up front with the N-R deposit on it am I covered? I understand that this is probably getting into legal aspects but..... WWCFD?

I ordered from Les Stanford because they offer supplier pricing and no dealer in Florida would, especially on a Z51. The deposit was $1000 and FULLY refundable, even after the car was produced.

David
Old 09-23-2014, 07:08 PM
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Since the majority, if not the vast majority of dealers don't have a non-refundable deposit policy, this description you are giving means something else to me. My opinion is this dealer doesn't know, or doesn't have a good allocation, doesn't understand the constraints, etc. and wants YOUR money in the event they mess up for weeks or months and YOU decide to walk away. They then get to keep your deposit.

I'd say most vendor dealers on CF do not require a non-refundable deposit because they know they can sell the car if you walk away from the deal. They also know how to get the car, and tell you in advance what is going to happen re a bona fide timeline until delivery.

It has very little to do with where you get it delivered---to your dealer, another dealer or the Museum delivery program.

I'd say while you might like to stay and buy local, this is not a good deal for you unless you want to get a lawyer on your side and at your expense. Even then, your local dealer may not budge. Choose another dealer would be my suggestion.
Old 09-23-2014, 07:13 PM
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tail_lights
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I appreciate the input so far and the PMs!
Old 09-23-2014, 07:58 PM
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tail_lights, just save yourself the stress of losing your deposit and order from the forum vendors (Les Stanford if you want supplier pricing across the board, Criswell and Kerbeck for some discount under MSRP).
I've had nothing but a smooth experience with Dennis Tap @ Les Stanford and my car is getting courtesy delivered to sunny WA ;-)
Old 09-23-2014, 08:31 PM
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Originally Posted by fizzman
tail_lights, just save yourself the stress of losing your deposit and order from the forum vendors (Les Stanford if you want supplier pricing across the board, Criswell and Kerbeck for some discount under MSRP).
I've had nothing but a smooth experience with Dennis Tap @ Les Stanford and my car is getting courtesy delivered to sunny WA ;-)
We also take a Supplier Pricing across the board.

Also, we do take a non-refundable deposit but with a drop off date for the order. If you order a Stingray (no Z06) this week, our order says that the deposit is non-refundable provided we have the car ready for you to pick up by 12/31/14. If not, then it's your choice if you want to wait it out or get your money back, but that hasn't happened in years.

Dave
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Old 09-23-2014, 08:36 PM
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Greg00Coupe
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Gee my dealer deals and never requested a deposit. Said he trusted me and asked I do the same with him. Worked out well.
Old 09-23-2014, 08:55 PM
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Originally Posted by Dave@Kerbeck.com
We also take a Supplier Pricing across the board.

Also, we do take a non-refundable deposit but with a drop off date for the order. If you order a Stingray (no Z06) this week, our order says that the deposit is non-refundable provided we have the car ready for you to pick up by 12/31/14. If not, then it's your choice if you want to wait it out or get your money back, but that hasn't happened in years.

Dave
I have your site bookmarked There are two that I am currently contemplating, one in stock and one ordered. I may be in touch!
Old 09-23-2014, 09:24 PM
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My dealer wanted a deposit, but until it goes to 3300, "Scheduled for production," it is refundable. After that, it's not if I back out, as they don't want a stock Z06 in the configuration I ordered.
Old 09-23-2014, 09:30 PM
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Default Call Dennis at Les Stanford

Originally Posted by tail_lights
I have your site bookmarked There are two that I am currently contemplating, one in stock and one ordered. I may be in touch!
Call Dennis at Les Stanford, fully refundable $1000 deposit, plenty of allocation. There is no reason to put up with the treatment you are getting from your current dealer.
Old 09-23-2014, 10:30 PM
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zbrett
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I added language that stated the deposit was refundable if the dealer failed to perform as agreed, and the dealer signed off on it. I got the impression they wanted to make sure I didn't try to back out, rather than planning shenanigans at delivery. We'll see...
Old 09-23-2014, 10:36 PM
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Originally Posted by fdxpilot
My dealer wanted a deposit, but until it goes to 3300, "Scheduled for production," it is refundable. After that, it's not if I back out, as they don't want a stock Z06 in the configuration I ordered.
That sounds reasonable to me.
Old 09-23-2014, 10:48 PM
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Originally Posted by Dave@Kerbeck.com
We also take a Supplier Pricing across the board.

Also, we do take a non-refundable deposit but with a drop off date for the order. If you order a Stingray (no Z06) this week, our order says that the deposit is non-refundable provided we have the car ready for you to pick up by 12/31/14. If not, then it's your choice if you want to wait it out or get your money back, but that hasn't happened in years.

Dave
Sounds good! If you still want to custom order, we have allocation available this Thursday.

Dave
Old 09-24-2014, 12:10 AM
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Originally Posted by Vetteman Jack
That sounds reasonable to me.

I thought so. I signed the contract and gave them a check, anyway.
Old 09-24-2014, 12:19 PM
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I didn't give my dealer a dime, when I brought up supplier pricing later on he accepted it.

I guess it all depends on who you deal with and the trust level of the dealer.

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