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Old 02-09-2015, 10:46 PM   #15
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Quote:
Originally Posted by alpha99 View Post
I always make sure it says "deposit is 100% refundable"on any large purchase. Gives me time to research and make sure it's the right decision for me. If they won't put that on there, they don't get my money. Have done this on two cars and one motorhome, and got my money back within three days. For future reference.
The OP ordered a new motorhome. Seems to me that if you order a special build and then want to back out of the deal, the dealer could be stuck with a custom-built coach. Not sure your "deposit is 100% refundable" approach would work on a custom order.

Of course, we have never ordered a coach so I don't know how it works.
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Old 02-09-2015, 10:51 PM   #16
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Anyone ever forfeit deposit on new coach

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The OP ordered a new motorhome. Seems to me that if you order a special build and then want to back out of the deal, the dealer could be stuck with a custom-built coach. Not sure your "deposit is 100% refundable" approach would work on a custom order.

Of course, we have never ordered a coach so I don't know how it works.

I too, have never ordered a new, custom built motorhome. I didn't see where the OP said it was "custom built".

You can have anything added to a sales contract that you want. Even on a "custom made" motorhome. You are the buyer, it's your money. If the seller refuses to put in "100% refundable deposit up until delivery date", then you walk away. Believe me, they'll put it in there. You, the buyer, have the power...until you sign on the dotted line.

I always buy used, never new for motorhomes. Let someone else take the 50%+ depreciation hit.

Cheers!
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Old 02-09-2015, 10:59 PM   #17
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Anyone ever forfeit deposit on new coach

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What's the purpose of a deposit if it's 100% refundable. This assumes the dealer is putting a "hold" on that vehicle and won't sell it while you do your research. What happens if another buyer walks in and offers cash to drive out with that rig?

When I sold my WGO View, I asked for a non-refundable deposit to take the rig off the market and not sell it to someone else while the buyers made arrangements to fly in. They had two weeks during which time they could have found another View closer to home and decided not to go through with our deal. If I had turned down a buyer during that time, I would have kept their deposit to "make me whole" on my lost deal.

Refunding a deposit in an emergency is the right thing to do but, if they can just change their mind and take a Mulligan, the dealer may as well not take a deposit and sell it to the next person who has the cash. If the buyer flies in and it's no longer available, too bad.

I think this falls under the heading, "Can't have your cake and eat it, too."

The purpose is that you, the buyer, can walk away while it's on hold. I think the purpose is quite clear and evident in the OP's concerns.

The BUYER has the power and can demand what goes in the contract, not the SELLER. It's called negotiations. If the seller won't agree to a refundable deposit, you walk away. Believe me, they will run after you when you leave, they don't want to lose a "bird-in-hand".

Had this buyer done that, he wouldn't be posting his

New motorhomes are a buyer's market, ripe for negotiations. Can you say "30% off MSRP?"

Cheers!
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Old 02-09-2015, 11:23 PM   #18
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I'm going from a Winnebago to a Newmar. When I asked the dealer how much time I'd have after the deposit/order to make any last minute changes i was told about 4 weeks. When I asked how much time i'd have to change my mind and cancel the order he said it was locked in as soon as he submitted the order. He's a very reputable dealer and I'd hate like heck to cancel as I'd probably never be able to deal with him again.
The deposit was for 5K, which is no small amount but still very trivial compared to the purchase price of something I'll may never be happy with. The only contract was just a list of options and payment price all done over the phone and by mail.
All this may be in vain as I have never cancelled anything before in my life including campground reservations but since I started thinking about it I just had to ask the question in case the situation does come about.
Appreciate all the responses. Will make me feel better knowing that it can happen.
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Old 02-09-2015, 11:45 PM   #19
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Just wondering if anyone has ever forfeited the deposit they made on ordering a new RV after deciding later they made a wrong/bad choice? We were kind of hurried into the order timing so we could get the RV before summer travel started and now the more we compare it to our current coach the more we realize just how much we're giving up in comparison to what we're gaining, other than everything being new.
I know it would be a terrific price to pay but not as much the price of the new one and with all the time a person would spend in the RV and disliking it every trip.
Probably won't refuse the new one, but the thought still lingers in the back of my mine.
My opinion probably won't be popular with some of the posters here but from reading the portion of your post that I highlited above, it would appear you have considerable reservations about the purchase. I would check with the Motor Vehicle laws in OK and in the dealer's state (if different) so that you know your options. As a former dealer I assure you that you won't be the first to have a change of heart. Another consideration is IF the dealer is reputable and maintains a good reputation in the industry he wants a happy consumer.... not someone who dreads the transaction. Good luck, and make the correct decision for YOU.
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Old 02-10-2015, 08:28 AM   #20
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I forfeited on a used one a few years ago. After inspecting, decided to many problems, so walked away and forfeited my deposit.
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Old 02-10-2015, 08:33 AM   #21
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The purpose is that you, the buyer, can walk away while it's on hold. I think the purpose is quite clear and evident in the OP's concerns.

The BUYER has the power and can demand what goes in the contract, not the SELLER. It's called negotiations. If the seller won't agree to a refundable deposit, you walk away. Believe me, they will run after you when you leave, they don't want to lose a "bird-in-hand".

Had this buyer done that, he wouldn't be posting his

New motorhomes are a buyer's market, ripe for negotiations. Can you say "30% off MSRP?"

Cheers!
I guess if you're from the school of, "I win and you lose," a refundable deposit is fine but I prefer a "win-win" scenario. I wouldn't feel right sticking the seller with my lack of research. I was raised "old school" where a man's word is good and a handshake is all that's needed to seal a deal. Just my humble opinion.
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Old 02-10-2015, 12:09 PM   #22
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We put a $1000 on a coach we decided wasn't "the one". When I looked at the contract it stated "no cooling off period". I just made sure the loan didn't go through. They had to refund the deposit.
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Old 02-10-2015, 03:29 PM   #23
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Kind of disturbing and disappointing the "I'm not responsible for my decisions" and "stick it to the dealer" mentality that is being posted here. If you will not keep your word how can your friends and co-workers trust you?

Now we know why dealers reciprocate when they can.
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Old 02-10-2015, 05:50 PM   #24
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Anyone ever forfeit deposit on new coach

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I guess if you're from the school of, "I win and you lose," a refundable deposit is fine but I prefer a "win-win" scenario. I wouldn't feel right sticking the seller with my lack of research. I was raised "old school" where a man's word is good and a handshake is all that's needed to seal a deal. Just my humble opinion.

I must say I am not pleased at all with your insinuation that I am not a man of my word, to put it mildly. I served honorably in the military and have always been a man of my word. If you READ what I posted, I negotiated a 100% refundable deposit. This was part of the negotiation process, and done for good reason. It is a legal and binding contract and this is part of that contract. The "word" is the contract, my friend.

If the dealer will not agree to a refundable deposit, fine. I will find one that will. That is called negotiating a legal and binding contract which is a legal "handshake". That is what is agreed to.


NOONE is "breaking their word" if they are abiding by a legal and binding contract that BOTH parties agreed to. What are you talking about? The contract protects BOTH the buyer and AND the SELLER.


Let me give you one example of why this may be needed - this happened to me: I put down a $2,500 on a new automobile design, to be available one year later. I made it clear I wanted them to write into the contract that it was 100% refundable. Prior to the production date the dealership declared bankruptcy. I was able to get my deposit back before the creditors swooped in and I would have been at the end of the line, and likely never gotten a penny of that $2,500 back had I not had the refundable deposit at anytime prior to production clause written in. It was like pulling teeth trying to get the cash back, until I threatened legal action. This dealer was NEVER going to hold up his end of the deal and deliver the car, and would not have given me my deposit back had I not had the refundable clause written in.

Oh I could have sued them, sure. Along with all the other huge creditors that were owed millions, I would have spent more than $2,500 just on attorney fees, and likely never gotten a penny back.

You may question my legally negotiated and agreed to contract, though I don't know why, but do not question my honesty.

You owe me an apology for your snippy remarks, just MY humble opinion!

Cheers!
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Old 02-10-2015, 06:44 PM   #25
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People kind of talk all around it but actually the OP needs to talk to the dealer and see what the penalties are for canceling the contract. They might depend on several steps. 1. might be a small fee if they have not started building it yet. 2. a hefty fee if they have started to build. 3. you forfeit your entire deposit. In case scenario 1. is applicable they need to talk to them now.

When you talk to the dealer take notes. I am sorry but there are unscrupulous dealers who will tell you that you you cannot cancel the contract when you have option one or a no fee cancelation.

Look for guarantees in the contract. Will your MH be read on a certain date. If that does not happen you have right to cancel. Is it dependent on your getting financing. If so tell your financial person if it is not the dealership that you have buyers remorse and do not really want that coach. I think that will get you a denial on a loan pretty fast.


Let us know what happens. The word is your bond think is a good way to think but I can tell you that there are a lot of sales personnel that do not believe that. How many people believe that if a new salesman tells you a price that the manager will let him sell a MH to you for that price if it is several thousand dollars lower than it should be.

Research state laws. Most states do not have a cooling off period on auto mobiles. Motor Homes are a grey area. If the state does not consider them an automobile then there is a possibility there is a cooling off period

Good Luck with your decision let us know how it turns out.
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Old 02-10-2015, 06:57 PM   #26
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Quote:
Originally Posted by wagonmaster2 View Post
I'm going from a Winnebago to a Newmar. When I asked the dealer how much time I'd have after the deposit/order to make any last minute changes i was told about 4 weeks. When I asked how much time i'd have to change my mind and cancel the order he said it was locked in as soon as he submitted the order. He's a very reputable dealer and I'd hate like heck to cancel as I'd probably never be able to deal with him again.
The deposit was for 5K, which is no small amount but still very trivial compared to the purchase price of something I'll may never be happy with. The only contract was just a list of options and payment price all done over the phone and by mail.
All this may be in vain as I have never cancelled anything before in my life including campground reservations but since I started thinking about it I just had to ask the question in case the situation does come about.
Appreciate all the responses. Will make me feel better knowing that it can happen.
Wagonmaster,
I agree with several folks that think most of your second thoughts are buyers remorse. I really believe you will enjoy your new MH once you get it. Hopefully if you really dislike it you can unload it without too much of a loss but I would really wait till you get in it a drive it around. Hopefully you will look back and see all the worry was of nothing.
Good luck and please let us know how things worked out
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Old 02-10-2015, 06:58 PM   #27
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Kind of disturbing and disappointing the "I'm not responsible for my decisions" and "stick it to the dealer" mentality that is being posted here. If you will not keep your word how can your friends and co-workers trust you?

Now we know why dealers reciprocate when they can.
What I was thinking.
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Old 02-10-2015, 07:00 PM   #28
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Wagon master, perhaps you could find another choice on their lot, telling him you really can't wait for the ordered rig. At least your 5000$ might be absorbed somehow in another purchase.

He may just not want to lose the sale, and as long as your new coach order doesn't have a build date, I could see the dealer maybe cooperating with you on another rig.?
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