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Old 05-08-2009, 04:27 PM   #1
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Down Payment Question

Hoping to order a new Phaeton in the next few months. First rig and we are planning to full time in a year or so. First question... When we order to build the rig I assume we'll have to put a deposit down? With the way things are in the economy, and especially in the RV business, what happens to our deposit if the dealer goes under or in foreclosure? Any thoughts. Thanks for all the helpful info on this web page. Christine and Alex
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Old 05-08-2009, 05:10 PM   #2
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Hi Christine and Alex,
Welcome to iRV2. Your question is a good one. The only way I know to protect yourself against this situation is to have your deposit held by a third party escrow company. There will be a fee for this service, but your $s will be protected.
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Old 05-08-2009, 05:10 PM   #3
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Ask the dealer to use something like www.escrow.com and both sides will be protected. This is the service endorsed by eBay for high dollar transactions. Both sides agree to the terms, escrow.com holds the money and the paperwork and when both sides agree terms were met, escrow.com releases to the appropriate side.
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Old 05-08-2009, 06:26 PM   #4
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Deposit

Thanks, that confirms what we were thinking. We'll be back with more questions as we get closer to putting in an order. Torn between ordering a 2009 or wait for the 2010. Stephanie at Tiffin motorhomes said the 2010 line should be out by September. Decisions, Decisions. Thanks again. Christine and Alex
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Old 05-08-2009, 11:02 PM   #5
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Christine and Alex,
If you haven't joined, or at least been to the Tiffin Owner's Forum http://www.tiffinrvnetwork.com/ , it would certainly be a worthwhile thing to do. We're in a similar situation as you and have gained a wealth of knowledge by accessing the forum.
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Old 05-27-2009, 10:15 AM   #6
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Thanks Steve and Karen, Already a member.
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Old 05-29-2009, 09:05 AM   #7
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I don't think Tiffin will be going under. Their orders have actually increased. If it were me, I'd wait to see what the 2010's had compared to the 09's. If you don't think there's much difference, you'll get a good deal on a 2009.

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