Are Deposits required to be Refundable?

Discussion in 'SRT Hellcat Purchasing' started by good2go, Mar 24, 2015.

  1. good2go

    good2go Gold Member Hellcat Car Club Gold Supporting Member

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    I know this has been discussed before, but does anyone know the definitive answer?

    Dealer wants a $5K deposit to pick up an order for a hellcat where the buyer backed out.

    He says the deposit is non-refundable if I change my mind.

    This is in Missouri if state law matters.

    Thanks!
     
  2. Snappycat

    Snappycat SRT Hellcat Moderator Staff Member

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    There can be a lot of variables to this order. What status is it in? If BX, how many in front of you with older VON dates? Is dealer in compliance with current allocation rules? Is dealer local? Are you dealing with a salesperson or top mgt/ownership? What is cars ETA? Help us help you...good luck
     
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  3. Carnage

    Carnage SRT Hellcat Supercharged Moderator Staff Member Hellcat Car Club Gold Supporting Member HCC Charter Member

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    Make it easy and plain as day for them. Force it in writing like my dealership did. If they can't get you a hellcat then refund your money. If you wrote that down and both parties sign it. Basically it's whatever you wrote both agree to in writing.
     
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  4. good2go

    good2go Gold Member Hellcat Car Club Gold Supporting Member

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    Order is D status. Not sure how many in front of me or if the dealer is compliant with allocation rules. Dealer is in Missouri, Dealing with the General Manager.

    Thanks!
     
  5. MoparProud

    MoparProud Silver Member

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    I would never put a deposit down as non-refundable, never ever ever ever ever.

    Not $500, and sure as hell not $5k. Never.
     
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  6. TIGwelder

    TIGwelder SSDD

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    So the buyer that backed out, did he already give them 5K for nothing?

    So it's not even a custom order by you, you're basically already doing them a favor by taking somebody else's order, and they want you to agree to a non refundable deposit? Umm, no

    How about "I give you a refundable deposit which you return if you don't get me a Hellcat, and in return I'll get it off your lot in less than 5 days so you're eligible again for allocation"

    Like they are going to be stuck with it or something :rolleyes:
     
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  7. 70Cuda

    70Cuda Yep, its got a HEMI

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    Its" probably" refundable if they can not deliver a car or mutual release. But if you find another car or just want out they keep.
    Just don't set the dates out forever for them. Pin them down and stick to those dates and deadlines.
     
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  8. Deputydog

    Deputydog Gold Member

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    I wouldn't give that large of a deposit either without it being refundable.
     
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  9. Steven_sbs

    Steven_sbs Browncoats Unite Gold Supporting Member

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    Read the paperwork they want you to sign. If it's not printed on the paperwork, they can not change the contract by telling you something verbally. Call Missouri's consumer affairs office or attorney general's office and ask them about the law. If the law says one thing and you sign a paper saying something else, you have to follow what you sign. Don't sign anything you haven't read and fully understand. Please report back with your findings.
     
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  10. B5 Blue

    B5 Blue Platinum Member

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    I wouldn't give them 5k for a deposit anyway, shape or form
     
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  11. bfusion

    bfusion Gold Member

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    If it doesn't say non-refundable, he must refund your deposit if no goods or services have been provided. I am not a lawyer, but I may have played one in my own mind.
     
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  12. solo7777

    solo7777 SRT Terminator Hellcat Car Club Western Regional President HCC Charter Member

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    I wouldn't give them anything without something in writing and signed by both parties. Protect yourself. Unless you don't mind losing $5K.
     
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  13. Snappycat

    Snappycat SRT Hellcat Moderator Staff Member

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    If its in D, then it doesn't matter how many in front of you as it has a VIN.....but you gotta have a way out in the deal. The only way I would give a non-refundable deposit is you get a refund if the car isn't delivered by a certain date....in this case perhaps June 1st. If they were local, I would seriously consider this. Because they are out of state, there might be more of a chance for them to play games.But YES, get it in writing and signed by ownership!!
     
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  14. buddyg

    buddyg Gold Member

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    What he said ^^^^

    No way should you have to put down a non refundable deposit especially on such a hot car. If you back out he will have 20 others ready to buy. Run far and run fast.
     
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  15. JBS$

    JBS$ Silver Member

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    If I were the Dealer and a Customer wanted to order a car with odd or unusual features. I would demand an unrefundable deposit in the amount that the car may have to be discounted to be sold to another buyer.
    Second, a reasonable unrefundable deposed, that will be applied to the purchase price, discloses to all that you are a serious buyer. Without this and assume that you have not established history with the Dealer, why should the Dealer waste their time and money?
     
    Last edited: Mar 25, 2015

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