C8 allocation For take at MSRP soldl,sold,sold.

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LuczajZ51

LuczajZ51

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You're 5
Jan 21, 2015
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Ottawa
VetteCoins
1,590
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2020 C8
Hi CCF members
Im 3rd in place for a brand new corvette
I have put down 70,000 as my deposit,
From personal reasons ill need that deposit money back asap.
If anyone on this forum is interested in brand new early delivery C8 and can came up with $70,000 for a deposit, ill be happy to give you my spot at MSRP
You can still make all the changes to my original order.
Thanks sold,sold,sold
 
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LuczajZ51 said:
Hi C8Jake
I know $70,000 is a lot of money however when I was selling my 2015 ZF1 and my Z51 Corvette’s both buyers come up with cash money no financing, so some people do buy this cars with cash.
Click to expand...

While I don't disagree with this, $70k for a DEPOSIT is a heck of a lot of cash to put down. To buy, yes, that's no problem for some people, but putting that down and not seeing you car for 6+ months? That's a lot to ask for.
 
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EJChevy said:
While I don't disagree with this, $70k for a DEPOSIT is a heck of a lot of cash to put down. To buy, yes, that's no problem for some people, but putting that down and not seeing you car for 6+ months? That's a lot to ask for.
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Hi EJ Chevy
Yes, I completely agree with you, $70,000 is a lot of money, but if someone is on the market for new c8 and is planing to buy without financing, I think it's a great opportunity to get in 3rd place. I'll only have one week to get that money so if there is no one interested I will buy that car and probably resell it.
 
:Dupe: perhaps not just me but ....

My "Spidey Senses" are going off like crazy ...
not with the writer of this post ... however the part
when having a $70k "deposit" with a dealership.
The way this dealership has this set up, it just feels like the
sleepless nights one can have after lending money to a friend or relative.

Why can't this dealer refund a "deposit"?
That Dealer should be able to find a new buyer for that C8 spot
in no time flat ... pretty much guaranteed if they have the allocation ...
and especially if the allocation can still accept changes.

There really isn’t a factory new car in the world worth that cash risk ... I'd have to insist on attending the "management meetings" if even one of my most trusted dealerships had a $70k cash “deposit" of mine.
 
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REALLY. A $70,000 deposit left at a dealership for an extended period of time???
I could see giving them the minimum and then invest or just deposit the difference even at a low interest rate.
 
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Black 03 Z06 said:
No need to remind anyone this is General Motors you are dealing with. :Banghead:
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As far as I would understand, the Dealership deals with General Motors. The Consumer deals with a Dealership. General Motors invoices the Dealership for their inventory and I really doubt that it would be 100% prepaid by the Dealership. This really appears to be a Dealership doing this and having that much cash in on it, is what we hear about all the time with discretionary business practice creating 0% customer protection (when with cash).

Chance is unlikely, but if this were in Alberta right now, business closures are never out of the question and cash deposits are very difficult to recover. There is just no way to “sugar coat” how my “Spidey Senses” are exploding. It is difficult to see that a customer is in the position of needing to back out of a “cash contract” and it appears the Dealership is leaving no option than for the customer to find someone else take on this risk instead.

I refer a lot of people who are in the market of buying a new car and I would never
make another referral to a Dealer if I found out that a 100% deposit obligation
was required. I would find a higher deposit needed on a discretionary order that
is outside of what the Dealer would normally spec for their on-lot inventory (but not 100%)
 
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I guess that is part of my issue with GM Spence. If I was a manufacturer I would want to have at least some control over the distribution/sales/service network when it comes to issues that may reflect badly on the manufacturer and frankly vice versa. I suspect they do. The buying public, in my opinion, does not see that separation when buying. They go to the Chev or GMC dealer, they may have or not a favourite dealer.

Over the years I have watched and read with interest how the dealer network(s), following your logic, has screwed customers around who have been dead nuts loyal to the Manufacturer, not necessarily the dealer, over the years. Someone in those horror story threads inevitably says call Mary Barra, like she would give a crap. Something new comes along, like the C8, and the "scams" start again (just like the C7 Z06). I was like that with brand loyalty for a long time. No longer.

Just bought a new F150, ordered it and the sales manager asked me for not one cent. Said he would call me when the truck came in and we can sign the documents. His verbally quoted price and vehicle description was exactly what was on the sales contract. That is the kind of person I want to deal with. There are horror stories about some GM dealerships and what they do to customers, they do not in my opinion deserve the loyalty they get. I see the two parties firmly lumped together. You might bitch about the dealer but anyone listening hears Chevrolet.

Admittedly not all dealerships operate in the manner of asking for $70K in deposits but obviously some do. It strikes me in this particular case based on what the OP has stated that the dealership was not going to give him his money back, if he could not come up with another plan he was buying that car. I also believe that there is no guarantee that the dealer will even get three allocations. Then what?

Just MO.
 
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Hmmmm Maybe no law in Ontario? Copy and paste from google search: Since there is no provision for a "cooling off" period in Ontario's law, if the dealer agrees to cancel a vehicle purchase agreement, they are entitled to claim "liquidated damages" and retain a part – or all – of your deposit. Link OMVIC > Consumers > Complaints > Requesting a Deposit Back
 
Black 03 Z06 said:
I guess that is part of my issue with GM Spence. If I was a manufacturer I would want to have at least some control over the distribution/sales/service network when it comes to issues that may reflect badly on the manufacturer and frankly vice versa. I suspect they do. The buying public, in my opinion, does not see that separation when buying. They go to the Chev or GMC dealer, they may have or not a favourite dealer.

Over the years I have watched and read with interest how the dealer network(s), following your logic, has screwed customers around who have been dead nuts loyal to the Manufacturer, not necessarily the dealer, over the years. Someone in those horror story threads inevitably says call Mary Barra, like she would give a crap. Something new comes along, like the C8, and the "scams" start again (just like the C7 Z06). I was like that with brand loyalty for a long time. No longer.

Just bought a new F150, ordered it and the sales manager asked me for not one cent. Said he would call me when the truck came in and we can sign the documents. His verbally quoted price and vehicle description was exactly what was on the sales contract. That is the kind of person I want to deal with. There are horror stories about some GM dealerships and what they do to customers, they do not in my opinion deserve the loyalty they get. I see the two parties firmly lumped together. You might bitch about the dealer but anyone listening hears Chevrolet.

Admittedly not all dealerships operate in the manner of asking for $70K in deposits but obviously some do. I strikes me in this particular case based on what the OP has stated that the dealership was not going to give him his money back, if he could not come up with another plan he was buying that car. I also believe that there is no guarantee that the dealer will even get three allocations. Then what?

Just MO.
Click to expand...
I agree that we can dislike GM for some aspects in the Auto Industry
as we can also dislike other manufacturers too .. but not necessarily
in this “full payment deposit” example.

It is all dealership and not manufacturer with this cash deposit.
Has bad Dealership finances written all over it.

It is 100% speculation on my part - let's consider perhaps the $70k is not held “in deposit trust” for C8 delivery and has been used to pay invoices for on-lot inventory that has become due. After all, if actually held “in trust” then the Dealership should refund and have the next fella drooling at their door, step up to take the C8 allocation and make it their own.

This thought as I also speculate that Dealerships now “own” their new C7s that are for sale on their lots and Corvette Customers are actually lined up for the C8 instead. The auto industry is not our problem. But entrusting a Dealership with a cash up-front obligation is one some might consider being OK to create.

Now, I truly want the writer of this thread to get their deposit back.
I must say this is not a good idea for anyone else on CCF to assume unless they
can afford to lose the money (no different than when lending to family & friends).

Your example of the Ford Truck purchase you just had should be the
same with this C8. Especially as Ford Trucks sell off the the lot and so
will a on-lot C8 in the beginning.
 
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C8Liz said:
delete this thread already...it's embarrassing
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No personal embarrassment is intended when discussing what the Dealership appears to have your hands tied in to - rather respectful awareness in our Forum.
.
I am absolutely a proponent for you to get your deposit back.
My hope is that you can follow-up with good news.

Even if using this discussion example with your dealership for reason
why they should be refunding you - after all we don't know
the Dealership Name ... and they should do the right thing.

Thank you for hanging in there as this is a good topic.
 
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Hi guys
I feel like I have to explain couple of things, first I like to let you know that my allocation is no longer available. The deal with other fellow did not go through and I decided to keep my spot for C8 corvette.
Coming back to the conversation I have absolutely nothing against my dealer, they are great guys
I give them my c7 corvette as a trade in for my C8 corvette, they price my c7 at $70,000 and I decided to leave that money with them as my deposit for C8. Then the thinks got a bit complicated as I was in need to get that money back but my dealer never sell my c7 and now it's advertised even below what they offer me for it. I decided to sell my allocation instead of asking my dealer for my deposit, I was hoping to make someone a happy fellow to get in to 3rd spot but also understood that coming up with 70,000 for down payment might be tuff. Anyway I have figured it out and am still in the line to get my C8. Sorry if I get some of you confused, I apologized.
 
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