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I have a bunch of questions, but first the tale :-)
This is taking place in California.
Beginning this story. A person I know went to RV retailer. Went through
credit app and sales contract for a 2k mi demo Rialta, agreed on approx.
$56k minus 3k trade-in for old 4 cyl Toyota in well-used or well-aged
condition. The Toyota has lots of little problems.
I thought it strange that dealer didn't want to see the trade-in. The
filled-in lines on contract give trade-in's odometer 0 mi, though dealer was
told 65k mi. No description which I'd expect (?) would include mention of 4
cyl.
But one bigger problem. The buyer is not a "car person" and couldn't
remember the year of mfr of the Toyota, suggesting that it's either late
70's, or a decade later. After a little discussion, the sales people decided
it was made in late 80's. But I think dealer would know 4 cyl late 80's
Toyota RV is very rare or non-existent. So, I'm guessing that for $56k
dealer assumed the possibility that the trade-in is worth only the cost of
scrapping?
The door frame shows an actual date of late 70's.
The buyer seems satisfied if contract goes through as it exists, but we
can't predict that will happen after dealer is informed of the late 70's
trade-in??? Buyer is ok if the contract is just cancelled or renegotiated.
Thanks for (anticipated) questions, comments, and suggestions.
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veh@nomail.com! wrote:
I have a bunch of questions, but first the tale :-)
This is taking place in California.
Beginning this story. A person I know went to RV retailer. Went through
credit app and sales contract for a 2k mi demo Rialta, agreed on approx.
$56k minus 3k trade-in for old 4 cyl Toyota in well-used or well-aged
condition. The Toyota has lots of little problems.
I thought it strange that dealer didn't want to see the trade-in. The
filled-in lines on contract give trade-in's odometer 0 mi, though dealer
was told 65k mi. No description which I'd expect (?) would include
mention of 4 cyl.
But one bigger problem. The buyer is not a "car person" and couldn't
remember the year of mfr of the Toyota, suggesting that it's either late
70's, or a decade later. After a little discussion, the sales people
decided it was made in late 80's. But I think dealer would know 4 cyl
late 80's Toyota RV is very rare or non-existent. So, I'm guessing that
for $56k dealer assumed the possibility that the trade-in is worth only
the cost of scrapping?
The door frame shows an actual date of late 70's.
The buyer seems satisfied if contract goes through as it exists, but we
can't predict that will happen after dealer is informed of the late 70's
trade-in??? Buyer is ok if the contract is just cancelled or
renegotiated.
Thanks for (anticipated) questions, comments, and suggestions.
My personal opinion is to find another dealer to work with. This one sounds
shady.
Without knowing the exact year of a trade in...which sounds fishy....the
dealer makes an estimate value without even seeing the vehicle?
"Hello? MacFly? Anybody home?"
Ding ding ding ding ding. Cancel the deal NOW and walk away.
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Richard wrote:
veh@nomail.com! wrote:
My personal opinion is to find another dealer to work with. This one sounds
shady.
Without knowing the exact year of a trade in...which sounds fishy....the
dealer makes an estimate value without even seeing the vehicle?
"Hello? MacFly? Anybody home?"
Ding ding ding ding ding. Cancel the deal NOW and walk away.
The dealer's going to junk the trade-in. A 20 yo car is worthless (even
in CA). He just gave the guy a $3K discount. The buyer probably could
have gotten a bigger discount without the junker.
/dan
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My personal opinion is to find another dealer to work with. This one
sounds
shady.
Without knowing the exact year of a trade in...which sounds fishy....the
dealer makes an estimate value without even seeing the vehicle?
"Hello? MacFly? Anybody home?"
Ding ding ding ding ding. Cancel the deal NOW and walk away.
That's the major question. How easily can buyer cancel 1 day old (or less)
contract.
I see standard text on back of contract under topic "Rescission". But it
refers to dealer canceling contract. I thought there are various "cooling
off" periods that are legally required for various legal dealings, but near
the bottom is
_________________________________________________________
THERE IS NO COOLING OFF PERIOD
Richard wrote:
CALIFORNIA LAW DOES NOT PROVIDE FOR A "COOLING OFF" OR OTHER CANCELLATION
PERIOD FOR VEHICLE SALES. THEREFORE, YOU CANNOT LATER CANCEL THIS CONTRACT
SIMPLY BECAUSE YOU CHANGE YOUR MIND, DECIDE THE VEHICLE COSTS TOO MUCH, OR
WISH YOU HAD ACQUIRED A DIFFERENT VEHICLE. AFTER YOU SIGN BELOW, YOU MAY
ONLY CANCEL THIS CONTRACT WITH THE AGREEMENT OF THE SELLER OR FOR LEGAL
CAUSE, SUCH AS FRAUD.
_________________________________________________________
As required by http://www.dmv.ca.gov/pubs/vctop/appndxa/civil/civ2982.htm
(r) The contract shall contain a notice with a heading in at least 12-point
bold type and the text in at least 10-point bold type, circumscribed by a
line, immediately above the contract signature line, that reads as follows:
[above]
The dealer's going to junk the trade-in. A 20 yo car is worthless (even
in CA). He just gave the guy a $3K discount. The buyer probably could
have gotten a bigger discount without the junker.
yes. Certainly, dealers keep better track of selling and buying prices than
do their customers. I think the dealer got a good profit. Hopefully buyer
will enjoy the product. :-/
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In Florida, right of rescission is only for goods delivered to your home.
Not vehicles and such.
Recently we did a refinance where they did the closing in my home and I had
a 3 day right of rescission.
Something you might look for is a breach of contract section.
Rob Kulp
<veh@nomail.com> wrote in message news:brjfc3$nrt$1@news.wplus.net...
My personal opinion is to find another dealer to work with. This one
sounds
shady.
Without knowing the exact year of a trade in...which sounds
fishy....the
dealer makes an estimate value without even seeing the vehicle?
"Hello? MacFly? Anybody home?"
Ding ding ding ding ding. Cancel the deal NOW and walk away.
That's the major question. How easily can buyer cancel 1 day old (or less)
contract.
I see standard text on back of contract under topic "Rescission". But it
refers to dealer canceling contract. I thought there are various "cooling
off" periods that are legally required for various legal dealings, but
near
the bottom is
_________________________________________________________
THERE IS NO COOLING OFF PERIOD
CALIFORNIA LAW DOES NOT PROVIDE FOR A "COOLING OFF" OR OTHER CANCELLATION
PERIOD FOR VEHICLE SALES. THEREFORE, YOU CANNOT LATER CANCEL THIS CONTRACT
SIMPLY BECAUSE YOU CHANGE YOUR MIND, DECIDE THE VEHICLE COSTS TOO MUCH, OR
WISH YOU HAD ACQUIRED A DIFFERENT VEHICLE. AFTER YOU SIGN BELOW, YOU MAY
ONLY CANCEL THIS CONTRACT WITH THE AGREEMENT OF THE SELLER OR FOR LEGAL
CAUSE, SUCH AS FRAUD.
_________________________________________________________
As required by http://www.dmv.ca.gov/pubs/vctop/appndxa/civil/civ2982.htm
(r) The contract shall contain a notice with a heading in at least
12-point
bold type and the text in at least 10-point bold type, circumscribed by a
line, immediately above the contract signature line, that reads as
follows:
[above]
yes. Certainly, dealers keep better track of selling and buying prices
than
do their customers. I think the dealer got a good profit. Hopefully buyer
will enjoy the product. :-/
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If you are happy with the deal otherwise, don't worry about it. The dealer is
going to wholesale off the trade-in and could not care less what it is.
We did a trade-in recently at a Chevy dealer. When I went back to the dealer the
next morning to get something I had forgotten out of the trade-in, it had
already been hauled off by the wholesaler.
<veh@nomail.com> wrote:
I have a bunch of questions, but first the tale :-)
This is taking place in California.
Beginning this story. A person I know went to RV retailer. Went through
credit app and sales contract for a 2k mi demo Rialta, agreed on approx.
$56k minus 3k trade-in for old 4 cyl Toyota in well-used or well-aged
condition. The Toyota has lots of little problems.
I thought it strange that dealer didn't want to see the trade-in. The
filled-in lines on contract give trade-in's odometer 0 mi, though dealer was
told 65k mi. No description which I'd expect (?) would include mention of 4
cyl.
But one bigger problem. The buyer is not a "car person" and couldn't
remember the year of mfr of the Toyota, suggesting that it's either late
70's, or a decade later. After a little discussion, the sales people decided
it was made in late 80's. But I think dealer would know 4 cyl late 80's
Toyota RV is very rare or non-existent. So, I'm guessing that for $56k
dealer assumed the possibility that the trade-in is worth only the cost of
scrapping?
The door frame shows an actual date of late 70's.
The buyer seems satisfied if contract goes through as it exists, but we
can't predict that will happen after dealer is informed of the late 70's
trade-in??? Buyer is ok if the contract is just cancelled or renegotiated.
Thanks for (anticipated) questions, comments, and suggestions.
-----= Posted via Newsfeeds.Com, Uncensored Usenet News =-----
http://www.newsfeeds.com - The #1 Newsgroup Service in the World!
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veh@nomail.com wrote:
yes. Certainly, dealers keep better track of selling and buying prices than
do their customers. I think the dealer got a good profit. Hopefully buyer
will enjoy the product. :-/
Sounds like the buyer allowed wide open space for some caveat emptor.
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<veh@nomail.com> wrote:
I thought there are various "cooling
off" periods that are legally required for various legal dealings
I believe that there are cooling-off periods in some states. I also
believe that in California, the subject state, there is no cooling off
period in the law.
As far as tradeins go, I don't see this particularly unusual. I traded
in a $100K motorhome (its then nominal value) in March on a $200K+
motorhome. The salesman and an assistant sales manager walked through
the rig for about 5 minutes. Asked a couple of questions about
specific options that needed to be checked on their forms. That was
it. No test drive, no questions about running condition, were never in
it with the engine running, never had a mechanic look at it. I was
last on their lot in July, and it was still there for sale.
Their valuation appeared to be entirely based on blue book, and how it
worked out in the overall scheme of "the deal."
--
Don Bradner
donb at arcatapet dot com
www.arcatapet.net
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Don Bradner wrote:
<veh@nomail.com> wrote:
I thought there are various "cooling
off" periods that are legally required for various legal dealings
I believe that there are cooling-off periods in some states. I also
believe that in California, the subject state, there is no cooling off
period in the law.
As far as tradeins go, I don't see this particularly unusual. I traded
in a $100K motorhome (its then nominal value) in March on a $200K+
motorhome. The salesman and an assistant sales manager walked through
the rig for about 5 minutes. Asked a couple of questions about
specific options that needed to be checked on their forms. That was
it. No test drive, no questions about running condition, were never in
it with the engine running, never had a mechanic look at it. I was
last on their lot in July, and it was still there for sale.
Their valuation appeared to be entirely based on blue book, and how it
worked out in the overall scheme of "the deal."
I traded a pickup in for a full size van once. I told the dealer all I had
done to it mechanically, and he said, "That's all I need to know".
Most of the time they just give the trade in a quick look over, figuring it
got there in one piece and all and maybe a quick look under the hood and
that's about it.
Unless there's something obvious, they don't need all the details to
determine a value.
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They don't want to see your trade-in because you are giving it to them
free....most dealers operate the same way. Lazy Days in Tampa Florida sells
more RVs than any other dealer in the US and they rarely look at a trade-in.
They don't inspect it nor do they do anything to it until a new buyer is
interested in it. The old ones are simply held til their wholeseller picks
them up. These dealers have so much mark-up on the unit they are selling
that they are not going to give you anywhere close to what yours is
worth....no matter how worthless it is....they get yours for free basically.
veh@nomail.com! wrote:
My personal opinion is to find another dealer to work with. This one
sounds
shady.
Without knowing the exact year of a trade in...which sounds fishy....the
dealer makes an estimate value without even seeing the vehicle?
"Hello? MacFly? Anybody home?"
Ding ding ding ding ding. Cancel the deal NOW and walk away.
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