$15000 mark up..help!!!

[blkadr08]

.

Why anyone would just order online and hope for the best is beyond my comprehension.

anytime you buy something on line, you are hoping for the best,

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[scubauke]

Contact Mike Levine. He had my $5000 adm removed within an hour, and paid msrp

 

[Kitten]

FYI. The email from my dealer is copied as follows, back in Feb. 2022 when my car was built, but I am still waiting for delivery (POSTPONED after many delays due to the notorious recall ).

I hope this will be sufficient to hold the dealer countable to honor the MSRP.

==Email from dealer =============

Hello XXX (Mr. Buyer),

I can confirm that your order will be sold at MSRP plus tax, title, license and fees, no mark up.

Your deposit will be applied toward the purchase.

Regards,

Xxx YYY (Sales Person's Name)
Fleet Department

Not to get into legal semantics, but whether or not Xxx YYY is legally authorized to make the deal is probably less relevant in court than was it reasonable for you to believe that he was authorized to make the deal. Which it totally is. I doubt it would ever get to court, because the dealership would probably back down if faced with the prospect and you had this in writing. But I agree with the poster who said you should try and get the whole contract, out the door price in writing (good luck) because yes, I can tell you from experience, they will try every trick in the book to make up the $$$ somewhere.

 

[Godawgs]

Contact Mike Levine. He had my $5000 adm removed within an hour, and paid msrp

You do that through Twitter DM or some other route?

 

[MachE1977]

Just mention the recall….

 

[ahg]

For the sake of OP, I hope that’s how the deposit contract was written, but I doubt it was. The deposit is a contract in itself. The deposit contract is that buyer pays $500, or whatever amount agreed upon, in order to have the ability to complete a subsequent sale, take delivery of a vehicle, or whatever language the dealership’s legal team determined to be most favorable to the dealership. The dealership has no legal reason to make the deposit refundable, unless the state requires refundable deposits (not sure if any states actually require this, but I could imagine some like CA doing it). If the buyer doesn’t end up completing the subsequent purchase/take delivery/whatever language used by dealership, then the buyer has simply not exercised his/her option to do so. In the simplest terms, that’s exactly how a nonrefundable deposit for goods or services is legally enforceable. Since none of us have access to OP’s deposit contract, we’re only speculating, but that’s the deposit contract that would best protect a dealership.

Remember that back before prices went absolutely crazy and cars were readily available, it would not necessarily be good for a dealer to have to have a custom order on their lot. It might be a basic car like a Ford Fusion with a non-desirable package or color and be harder to sell. If a customer backed out, it would be totally reasonable for the dealership to keep a $500 deposit considering they now have extra inventory that they may have to discount to sell - and perhaps even lose the opportunity to sell a more profitable version to the buyer who now took this custom order at a discount instead.

Again, in this market it’s a different story. I definitely hope the dealer at least gives the OP his deposit back. But unless they’re just being nice since they’re gonna make a huge ADM by taking advantage of him OR if they had a crappy lawyer draw up their deposit contract paperwork, I think he’s probably out the money. And personally, I think that sucks for OP and the Ford brand, given these particular facts here.

Normally when you put down a deposit and you both sign you and the seller have a contract to make a purchase at a specific price and sometimes a specific date. Both have made a commitment. When there is no specific price or date I don't see that there is a contract. The seller has committed to nothing so the buyer should get the deposit back..

 

[RedStallion]

A verbal assurance is not sufficient if you really want to protect yourself.

To be precise a verbal contract is just as enforceable as a written one, but there are nuances making it more difficult.

 

[Cm12]

Normally when you put down a deposit and you both sign you and the seller have a contract to make a purchase at a specific price and sometimes a specific date. Both have made a commitment. When there is no specific price or date I don't see that there is a contract. The seller has committed to nothing so the buyer should get the deposit back..

A price or date isn’t necessarily required. A deposit is a contract that allows you the option to purchase a car, or any other good. If a purchase date or a purchase price isn’t specified, then those are not material terms to the deposit contract. That’s where people make serious mistakes because they’re not lawyers whereas the dealerships hire lawyers to write these deposit contracts up. If someone has a deposit on a car and it doesn’t specify any terms, then it’s gives them no protection other than the ability to purchase the vehicle at some point - no price, date, or anything else guaranteed because it wasn’t in the deposit contract.

 

[mkhuffman]

To be precise a verbal contract is just as enforceable as a written one, but there are nuances making it more difficult.

Like going to court and convincing a judge your word is more reliable than the dealership's. A written agreement is black and white. But I do agree a verbal contract is enforceable.

 

[jgrissom]

Not the same situation, but this is what happened to me. My dealer called me a couple weeks ago and told me they had a MME GTP in cyber orange just come in and asked me if I wanted to look at it. I am currently a 2020 Tesla Model X owner. I was curious, but I felt that I would be disappointed when comparing the car to my Tesla. As it turned out, I fell in love with the MME GTP and decided I wanted it. They had the car marked up $10K over MSRP and had added paint/interior protection for $1k (which I understand is all profit for the dealer). I negotiated price at $7.5k over MSRP and they gave me $5k over what I paid for my Bronco with 9k miles on it. With the $7.5k in tax credits I feel happy about the deal. I’ve only had the car for a day (recall preventing delivery), but I really like it so far. I am confident the dealer could have sold that car for $10k over MSRP and I think the trade they gave me for my Bronco is very fair. Very seriously considering selling my model X soon since I assume it has a high resale value right now. To be fair, the MME is not as nice as the X, but it’s darn close!

 

[Rt1AWD]

That's not what I mean. Does she have a signed agreement with the dealership that specifies the amount she agrees to pay and they agree to sell it. That must be done in advance of delivery. If you don't have that, there is really nothing you can do.

Many people think just putting in a order request via the Ford website is sufficient, but you are buying the car from the dealership, not Ford. You need an agreement with them. Ford just matches you with a dealer and then you have to work out the deal with them.

Ford is trying to eliminate situations like that. It should definitely put that dealership in a blacklist

 

[Rt1AWD]

This will probably be an unpopular opinion, but I would try to reason with the dealer. Given you don’t have any legally binding purchase agreement with the dealer, you are out of luck. Trying to threaten the dealer with contacting AG and all that is not going to scare them a bit. You don’t have a case here, they know it damn well and they deal with unhappy (for a variety of reasons) customers with this kind of threats on weekly basis.

My experience, about two months ago I was talking to seven or so local dealerships about taking over someone else’s order. The highest markup I was offered was $15K so your dealer is going all in. I ended up paying $3K markup, the dealer I purchased from was asking for $6K initially. Bottom line, they need to sell the car and already have a buyer (you). I would start with offering them some small markup and see where this goes. I know this is frustrating, but I am trying to be pragmatic.

That is called negotiating. If she does it well She would probably end up with some markup that is slightly lower then everage markup for this model when picking it up from the dealership without ordering it.

 

[Rt1AWD]

Nothing is worth more then MSRP, if everyone keeps doing this in about 24 to 36 months they will be so far upside down in the finance. It will be even worst if the car is totaled and the insurance only pays the value and you are stuck making years of payments on a totaled car.

I believe the Ford will have to raise MSRP soon.

 

[Rt1AWD]

Cars are not an investment, at least not a good one. Looking for the return is not a part of consideration at all.

Ironically, in case of Mach-E there is some limited return in the form of tax credit and gas price savings. If I did not pay the markup ($3K in my case), I would simply not have the car and therefore neither of these two savings.

It is sort of an investment. If you buy a car now, you save yourself from buying it in a year when it might be 10 per cent more expensive.
Thus youve made a 10 percent return

 

[KrazyEd]

I went to look at a Hyundai Ioniq 5 Limited. Showed $56K online, no mark up. I got there, the
sales person told me that he hadn't sold any. I had been to the same dealership a month or so ago
with a friend looking at the lower trims. He also told me that there was a $5K mark up on all of the
electric models. I asked him if this might be the reason they hadn't sold any. Just for grins, I asked
what they would offer for trade on my MME Premium with 12K Miles. He came back with $54K trade
which would have been good since it was $48,100 new and I got a discount from there. Every time
he went to talk to " The Manager " the price on the Hyundai had gone up. by the time all the dust
settled, the Ioniq 5 was right at $70K. Needless to say, I didn't buy it. A few days later I got an email
from a Hyundai dealership with a big Title that said NO MARK UPS EVER. They didn't have a limited
in stock. Of course now that the Ioniq 6 has been displayed . . .

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