Signing a contract for a dealer trade.

zmyride · 01-28-2010, 04:09 PM

If you want a particular Z and the dealer doesn't have it but can do a dealertrade ~200 miles away, they make you sign the contract first, and do a credit check before they can start the trade. Is this the normal practice? I asked if i could put down a $500 deposit, they said no. A contract has to be signed first for them to initate the trade.

They said once the car is here and if i don't like it for any reason, i could cancel the contract. It's not that I don't trust them. I just wanted to know if this is the normal practice for a sports car?

ChrisSlicks · 01-28-2010, 04:15 PM

Yes it's normal that you have to sign an "intent to purchase" contract when bringing in a car from another dealer.

You certainly have grounds to terminate the contract if the vehicle was not correctly represented, however you can't just cancel because you changed your mind (without forfeiting the deposit).

mspeasl · 01-28-2010, 04:40 PM

Quote:

Originally Posted by zmyride

If you want a particular Z and the dealer doesn't have it but can do a dealertrade ~200 miles away, they make you sign the contract first, and do a credit check before they can start the trade. Is this the normal practice? I asked if i could put down a $500 deposit, they said no. A contract has to be signed first for them to initate the trade.

They said once the car is here and if i don't like it for any reason, i could cancel the contract. It's not that I don't trust them. I just wanted to know if this is the normal practice for a sports car?

Yes this is normal for any car. It will cost the dealer several dollars for him to get the car for you. He wants a reasonable guarantee that he has a sale in hand before he sends a driver to obtain it for you.

Remember that some old retired guy is going after it for you and that he will be driving it at highway speeds.

If it is a 'Z' I believe that I would insist that it be trailered and not driven...........!

.

RavenRonnie · 01-28-2010, 04:52 PM

Quote:

Originally Posted by mspeasl

Yes this is normal for any car. It will cost the dealer several dollars for him to get the car for you. He wants a reasonable guarantee that he has a sale in hand before he sends a driver to obtain it for you.

Remember that some old retired guy is going after it for you and that he will be driving it at highway speeds.

If it is a 'Z' I believe that I would insist that it be trailered and not driven...........!

.

I had mine trailered! I didn't want anyone driving my car for fear of them over revving the engine during break in or just dogging it period.

The part I didn't hear you say is that you worked out a price for the trade.. ALL ASPECTS of the deal should be written out before any signing takes place... Good luck with your deal

koeppelnissan · 01-28-2010, 06:46 PM

You should be signing a purchase order, not a contract! It just has a price, no payments/rate on it? Make sure he rights the deposit is not refundable!

zmyride · 01-28-2010, 08:34 PM

Quote:

Originally Posted by RavenRonnie

I had mine trailered! I didn't want anyone driving my car for fear of them over revving the engine during break in or just dogging it period.

The part I didn't hear you say is that you worked out a price for the trade.. ALL ASPECTS of the deal should be written out before any signing takes place... Good luck with your deal

No worries. They flatbedded the car. Car has only 10 miles and is currently sitting on the lot for me to pick up.

Yes we worked out the price and all the numbers were already agreed upon before the trade was initiated.

01-28-2010, 04:09 PM	#1 (permalink)
zmyride Track Member Join Date: Nov 2009 Location: SF Bay Area Posts: 631 Drives: 10 Black Sports 7AT Rep Power: 17	Signing a contract for a dealer trade. If you want a particular Z and the dealer doesn't have it but can do a dealertrade ~200 miles away, they make you sign the contract first, and do a credit check before they can start the trade. Is this the normal practice? I asked if i could put down a $500 deposit, they said no. A contract has to be signed first for them to initate the trade. They said once the car is here and if i don't like it for any reason, i could cancel the contract. It's not that I don't trust them. I just wanted to know if this is the normal practice for a sports car?

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01-28-2010, 04:15 PM	#2 (permalink)
ChrisSlicks A True Z Fanatic Join Date: Mar 2009 Location: North East Posts: 6,203 Drives: 09 370Z Sport M6 Rep Power: 653	Yes it's normal that you have to sign an "intent to purchase" contract when bringing in a car from another dealer. You certainly have grounds to terminate the contract if the vehicle was not correctly represented, however you can't just cancel because you changed your mind (without forfeiting the deposit).

01-28-2010, 06:46 PM	#5 (permalink)
koeppelnissan Supporting Nissan Dealer Join Date: Oct 2009 Location: queens Posts: 859 Drives: 14 6MT Trng Spt Nav Rep Power: 17	You should be signing a purchase order, not a contract! It just has a price, no payments/rate on it? Make sure he rights the deposit is not refundable!