Joeb427

iTrader: (1)

The 72 hour 'Right of Recision" doesn't come into play with car sales.

LeslieRC

Good for you! Even better, it only "cost" you a few telephone calls!

al503

Because there is a state statute on that controls, you are correct, there is no contract for the deposit or the car. However, in the absence of such a statute, there is an enforceable contract for the deposit to hold the car as outlined above.

Apparently, the car was at a very good price to the OP. It was at such a good price that the OP put a deposit down on the car ensuring his ability to get that car at that price. The dealership agreed to hold the car for his deposit.

The legal requirements of a contract (an offer, acceptance and consideration (of which are all present, and outlined above)) for the deposit are all present. The dealership executed their part of the contract by holding the car for the buyer until the buyer tried to rescind. At that point, the deposit $ was earned and the contract complete. Again, in the absence of a statute, you would have to show the judge that the contract is somehow illegal or defective.

If you can do that and let me know how you would do it, I'll be the first to declare that I am mistaken. If you can't, then you are the one that is mistaken.

slowandlow

a deposite is like a engaguement ring it belongs to the guy till theyget married.

termigator

I understand where you're coming from. The only reason I actually went ahead and rescinded was because I've been told by extremely reliable sources that there was no way they would be able to keep my money. I only started having doubts after I received the email from my neighbor concerning what his lawyer said.
The fact that the sales rep became rude and insulting somehow didn't surprise me at all. Back in 2001, my friend was looking for an 02' TL-S and put down a deposit to hold a car at a dealership. He was assured by the salesperson that it was totally refundable should they not strike a deal. They wound up not striking a deal and he got his deposit back, but not before he got a good reaming from the sales rep's boss. He wound up getting the deal he wanted from a rival dealership and drove the car to the other dealership to show it off!

I probably would have gotten the 07' TL-S had the price been really $33,500. However, after we struck the deal over the phone, he tells me there's a $599 dealer processing fee. I wasn't to crazy about it because he told me after the deal was struck and he only revealed it after me wife insisted I ask him. There was no dealer processing fee at the Lexus dealer (They told me it was a cheap way for dealerships to tack on profit and make it seem legit because it's usually printed on the invoice already). There was no dealer processing fee for my 02' TL-S either. I decided to let it slide and we hung up. Less than five minutes later. He calls back and tells me that the car came with mud guards, wheel locks and a trunk tray. He told me that was an extra $274. I told him to just take it off. He replied that the labor to remove them would cost just as much. I was getting irritated, but I was tired of dealing with the matter, so I just left it. The next day, I started thinking about the extra $$ that was tacked on a the end even before tax and title and all of a sudden, it didn't feel that great of a deal anymore. That's when I decided to call the Lexus guys and see if they would work with me to bring the price closer t what I wanted. They did and the rest was history.

termigator

HA HA! I wouldn't know anything about that. I proposed to my wife and then we went to find the engagement ring. Then we got married. Don't know anything about engagement ring protocol. Hell, I even made the cardinal sin of proposing to her over the phone! Luckily I knew I could get away with it because she's not the sentimental romantic type.

tex2670

Since the UCC is in effect in all states--that's the whole point. No need to analyze further.

tex2670

Are we really going to start a whole new thread that's totally false? Actually, it's not totally false--it really does vary state to state, unlike the UCC. If you are assuming this--beware!!

kensteele

termi, glad you got your credit credit refunded, awesome! as for the rest of you guys about deposits and ring laws: