Advice please

[ARK]

If I’m understanding correctly, you ordered an ICE Mustang, gave the dealer your Corvette in exchange for credit against your upcoming order (instead of getting cash), now decided you no longer want an ICE Mustang, you want a Mach-E instead, but the dealer is saying you are committed to the ICE Mustang you ordered and won’t give you the value of your Corvette back to you?

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[67go]

They have the title and own the Corvette. The money is with the dealership and is being used as part deposit waiting balance due when car comes in. Should of just emailed dealer before starting thread. Will try for refund. Sorry for the confusion.

 

[Mach1E]

They have the title and own the Corvette. The money is with the dealership and is being used as part deposit waiting balance due when car comes in.

Selling your Corvette and buying the Mustang are two separate transactions then.

Not sure why you would “trade in” the corvette before the Mustang showed up.

Go back and read the paperwork on your Corvette sale to see what your options are.

You may be stuck, but could try negotiating something with the dealership.

 

[Motomax]

I get you were probably excited to order the new car but you might want to spend a few min thinking about what you’re agreeing to next time. There’s zero reason to let the dealership « hold on » to your money and a ton of reasons not to. What if they claim deposits aren’t refundable and your entire trade in was your deposit… go get your money.

 

[Cm12]

A Toyota Corolla is going for above MSRP. A Mustang 5.0 is a very desirable car that will sell over MSRP probably everywhere. The worst case scenario is that you take delivery and flip it to Carmax, maybe even for a profit. Negotiate from a position of power because the dealership can mark up the Mustang 5.0 if you don’t take delivery. It’s in their best interest to sell it to someone else as an abandoned order. Research the car market right now and you’ll see what we mean

 

[ripperAZ]

Take the car enjoy it for a few weekends do a few donuts and neutral drops and then sell it for 5 to 10 grand more it’s the smart thing to do and it’s gonna be really easy
Jes sayin. It’s a fine car somebody will want it don’t let the dealer make the money. The only downside is you end up with a beautiful ICE car. Who knows you may fall in love with it and keep it till you trade it on something electric

 

[BigMach-E]

Yeah, depending on the time frame of when I was to take delivery of the new car, and how much above the KBB the dealer was giving me for my trade in, I'm pretty certain I would never give would never sign over title at order time, but rather at delivery, kind of for this reason, but mostly because the dealer could turn around, sell my car immediately, and profit. And all I would have is the assurance they would put the balance of my trade towards my new car. The way dealerships generally work is to maximize their short term profit at the cost of anything else, generally. They also tend to not work well with clients that change their minds mid interaction. From time of order to time of delivery, what is the time frame? Did they give you well above KBB?

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