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Old 05-18-2020, 04:37 AM   #15
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With the current economic conditions and with a historical perspective of numerous RV dealership bankruptcies during the last economic crisis of 2008, I would consider such a large deposit as risky.



It has been suggested you get a quote from the big 3 Tiiffin dealers in the SE. Personally I would consider this advice and perhaps if I bought from one of them, make a vacation of picking it up and planning a visit to Red Bay on the way home.
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Old 05-18-2020, 10:57 AM   #16
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Thanks for this great info everybody. It's exactly what I was looking for!
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Old 05-18-2020, 11:13 AM   #17
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We ordered a new 2020 in Oct '19 for delivery in May and we put 5% down on it. If you're looking at a $400k+ MH, I think the $20k deposit amount seems fair. Now whether you allow it to be refundable or not is up to you and your negotiation skills.
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Old 05-18-2020, 02:14 PM   #18
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"nsail".....Tell the dealer that you're ready to make the deal, but only willing to put $5K down. At worse, negotiate to $10K.
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Old 05-18-2020, 03:03 PM   #19
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I would consider it if funds were held In an escrow account requiring both parties approval to disperse. Keeps everyone honest and should cover everyone's needs?
I've never bought new but if I did this would be part of the deal. AND if they reqd the deposit be non- refundable I would want the delivery date FIRM and the escrow deposit refundable, at buyers option, if not delivered on time.
Fair is fair if it's ok to hold buyer why not also hold the seller to contingencies.
I'd also require it to be EXACTLY what was ordered not close enough!
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Old 05-18-2020, 03:24 PM   #20
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You may have your heart set on ordering a new off the line rv, but have you considered shopping the country for one like you want already on the lot. I would think the dealership would be more than willing to make a deal on a new one he already has money tied up in. This way, you don't risk loosing any deposit, and you get your rv right away. I don't know about your area, but here in Ontario, it seems every rv dealer was loaded to the max with inventory when this covid hit. I certainly wouldn't risk a nickel for a deposit right now. Salesman will promise the world, but how do you know for sure when production will resume 100%. There could be a shortage of supply parts as well. Who knows. Just my opinion.
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Old 05-19-2020, 09:31 PM   #21
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Yes, a non-refundable fee to place a custom order and hold the product for your purchase for a specific amount of time is normal. 5% is the minimum I've seen but 10% would not surprise.

What I suggest is that you request a written proposal that includes all fees, charges, assessments, etc that the dealer charges, is required by law to collect at the point/time of sale, etc. Kind of like HUD-1 in real estate closings. If you're concerned about the dealer or manufacturer going out of biz, consider using an escrow service to hold the deposit. It will complicate negotiations but if the dealer failed to perform under the contract, you'd get your money back.

Finally, if you're significantly concerned you should consult an attorney in the state in which the transaction will be made. Your rights vary depending on locale.

ps. like doing comparisons in real estate prices - throw out the least and most expensive and average the rest. If the deal still looks "too good" there is something else going on.
Use escrow to CYA.
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