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Old 09-24-2015, 02:29 PM   #1
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Check for balance of down payment

next week we are getting our first motorhome! We put 5k down at the RV show and will be bringing an additional 50k to the dealer when we sign. My question is about the bank check we will have for the dealer. Seems a bank check can be made out to the dealer ( that's what they prefer) or to us ( what we prefer) and we would sign it over to dealer. Since we still need to take a test drive and do the PDI I am nervous about having a check made out to a company. What if the deal falls through? I am thinking that dealer wouldn't let the deal fall through just because we have to sign over a bank check to them. Any thoughts?
Thanks!
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Old 09-24-2015, 02:32 PM   #2
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Call the dealer and make sure it's ok.. Also... you mentioned that this is a "down payment," so I would also call the bank that you are mortgaging it with to see if they have any issues.
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Old 09-24-2015, 02:36 PM   #3
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It is quite safe to make the bank check out to the dealer. If the deal does not go through you can take it back to the bank and get the funds converted back to you. We have done that before with property auctions. We take certified finds to use as a deposit if we find something we like. And if not we take the check back to the bank and they put it back in our account.
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Old 09-24-2015, 02:37 PM   #4
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Easy...
Just do not sign anything or give the check to them until YOU are fully satisfied... and ALL todo items are DONE...
Do what we did...
we went to lunch while they fixed the last few items we found on pdi....

No need to be the good guy and lose your shirt by being 'nice'

Amazing how attitudes and effort can change once the check is handed over !
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Old 09-24-2015, 02:38 PM   #5
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Quote:
Originally Posted by VanSully View Post
next week we are getting our first motorhome! We put 5k down at the RV show and will be bringing an additional 50k to the dealer when we sign. My question is about the bank check we will have for the dealer. Seems a bank check can be made out to the dealer ( that's what they prefer) or to us ( what we prefer) and we would sign it over to dealer. Since we still need to take a test drive and do the PDI I am nervous about having a check made out to a company. What if the deal falls through? I am thinking that dealer wouldn't let the deal fall through just because we have to sign over a bank check to them. Any thoughts?
Thanks!
Once they have the money you are at their mercy! If they are ethical you won't have a worry. Few dealers are ethical once the money is in their hands.
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Old 09-24-2015, 03:01 PM   #6
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Thanks for the check help!

Stat geek. Dealers finance guru did say check should be made out to dealer. And they are doing the financing, so that must be they way it has to be.
Patti Brown. I did not know the bank could take back a check made out to someone else and deposit into my account! Learned something new today!
JohnBoyToo. We do plan on driving ( could t do that at show) and doing a through PDI . Like the idea of lunch😄 while waiting!
Gemert. They do seem to be ethical, but that said one never hears the 'whole truth' . The vibes from their Mr Finance made me feel like I was dirt--until the financing go went through at a good rate.
Next week here we come!
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Old 09-24-2015, 03:30 PM   #7
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Stat geek. Dealers finance guru did say check should be made out to dealer. And they are doing the financing, so that must be they way it has to be.
Patti Brown. I did not know the bank could take back a check made out to someone else and deposit into my account! Learned something new today!
JohnBoyToo. We do plan on driving ( could t do that at show) and doing a through PDI . Like the idea of lunch😄 while waiting!
Gemert. They do seem to be ethical, but that said one never hears the 'whole truth' . The vibes from their Mr Finance made me feel like I was dirt--until the financing go went through at a good rate.
Next week here we come!
I have learned the hard way that if something isn't written down than it didn't happen. I would make them write everything down that you find wrong. If they don't write it then get your deposit and run, if it's important to you. I bought the last one with 1k down. They ran the financing and before I knew it they had the money from the company because I signed the paper that they said they needed to even ask for financing. I put my foot down and still had to pay the bank 500 dollars to cancel the loan because it was about 5% more than I got with USAA. At that point they said I owned it. I had to threaten a lawyer before they would take that money off the price and 1k more just to make me stay in their showroom. Then after all was said and done they tried to get me to sign an updated sales order that did not include some of the things they said they would fix. And this was a reputable big dealer. I made out OK because I made them write everything down even though they tried to trick me the whole way through. Not trying to scare you just be cautious. Good luck and enjoy your new coach, I have!
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Old 09-25-2015, 07:34 AM   #8
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[QUOTE=VanSully;2757352]
Patti Brown. I did not know the bank could take back a check made out to someone else and deposit into my account! Learned something new today![QUOTE]
If it is a bank check that YOU purchased, of course they will. It's the same as your tearing up a personal check you wrote and about which you later changed your mind. You gave the bank the money for the check they issued, and if it is uncollected funds they will give your money back to you. Now, they do have a problem if you want them to give you someone else's money...
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Old 09-25-2015, 08:03 AM   #9
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Often, dealers will sit you down and attempt to "get the paperwork out of the way" prior to your PDI, test drive, and repair of issues "uncovered" during your PDI. Make them understand you intend to finalize the deal prior to leaving, when you are completely satisfied with the coach. Keep notes regarding any promises made by dealer personnel, and get them in writing prior to closing. Bottom line, no matter what, do not trust the dealer unless you have it in writing and signed by either a company principal or general manager.
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Old 09-25-2015, 08:38 AM   #10
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When you first walked on the lot and started looking at several rigs, met a salesman, you should have said, "I'd like to test drive his one and that one to compare them." Test drives, even a test over-night, should be done before any papers are signed.
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Old 09-25-2015, 08:44 AM   #11
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Show them the check and a pair of scissors.

Advise they only get check when all is perfect.

Document EVERY THING and add a dealer service warranty...

Specify that anything found during pdi will have "special warranty" meaning that if their repairs fail you get "first in line" status there and they will act as agent to get it serviced fast if on the road.

They may do better job that way...
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Old 09-25-2015, 08:48 AM   #12
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Quote:
Originally Posted by JohnBoyToo View Post
Easy...
Just do not sign anything or give the check to them until YOU are fully satisfied... and ALL todo items are DONE...
Do what we did...
we went to lunch while they fixed the last few items we found on pdi....

No need to be the good guy and lose your shirt by being 'nice'

Amazing how attitudes and effort can change once the check is handed over !

I agree 100%. NO dealer is your friend contrary to what may be said.
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Old 09-25-2015, 09:01 AM   #13
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You are getting lots of great tips here. Don't let it bring you down, but for the most part, dealers are slimy. I did learn that there is a trick to determine whether they are lying to you or not. If their lips are moving, they are lying. Now you have the inside story!

Seriously though.. enjoy the purchasing process as best you can. DO write everything down and get written agreements to whatever you discover needs to be addressed. But DO NOT let the stink of bad-dealer-reputations spoil the entire buying process. It's an expensive purchase--you should at least get some enjoyment out of the process!

(I thoroughly enjoyed both of our RV purchases, and in both cases, my dealers treated me pretty darn well. I discovered a couple of issues after the purchase of our most recent DP, called the dealer that sold it to me OUT OF STATE, and they totally came through for me. Maybe it helps that when I arrived for the purchase I had small gifts for the sales agent and the head of the PDI/service department who helped me from start to finish?)
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Old 09-25-2015, 09:04 AM   #14
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It's big money, and it's business, and listen to Gemert when he says:

"I have learned the hard way that if something isn't written down than it didn't happen."

Ok to be nice, and persistent, at the same time! Also OK for things to not be 100%, say if they have to order a part, at time of deal closing. But, everything that is expected to be done by the seller, should be part of the sales agreement document. Not even some written punchiest, you need something documented and signed, by the manager. Now, that being said, I find that many reputable dealers, go out of their way to honor their agreement.

Oh, and be specific. For example: To include new steer tires. Is not what you want. You want: To include new, less then 6 months old, XXX brand tires. (Specific's count.)

And, don't turn everything over money wise, that last big deposit is your last leverage on dealing, until you feel you have a good grasp on the coach. Test drive it first. If it has not been inspected to validate that all systems are working properly. Do you own full PDI, or high a pro to do so. Get up, get under, get thru - everything!

(You may have done this by sending a pro to perform this PDI already.)

Again, it's business. And don't let the emotions get a hold of you. It is always OK to walk away, and request a full refund of what you have sent already, if the coach is not what you expected.

Best of luck to you, hope it checks out well,
Smitty
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