- Joined
- Aug 29, 2021
- Threads
- 4
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- 160
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- 172
- Location
- Spinderland
- Vehicle(s)
- 2020 Ford Exlporer
- Your Bronco Model
- Badlands
- Thread starter
- #1
Disclaimer - I'm not a lawyer, and I don't play one on TV. Anything and everything I say here is worth exactly what you paid for it - nothing. If you want the real deal info, talk to a lawyer in your state.
The only thing you need to do to ensure you will be happy with the price you pay for your Bronco is to execute a contract with your dealer to buy it at a price you want to pay - BEFORE it's too late to move your reservation/order.
A contract can take on many forms, but the best kind is in writing - and signed by parties who are willing and authorized (important part) to bind themselves.
So many members of this forum are telling tales of "their" Bronco showing up at a dealership and then receiving any number of nasty surprises. If there was a contract, and there was a surprise, then there would be legally enforceable consequences.
Think along the order of "For the sum of $XXX to be used as a deposit against the purchase price of the vehicle, the dealer and purchaser agree to the following: The dealer will sell the vehicle described in Reservation XXXXXX/Order XXXX to the purchaser for a price not to exceed MSRP, plus the actual cost of taxes and other legally required fees, and other dealer costs not to exceed $XXX. The dealer will notify the purchaser within X days of the vehicle being received by the dealer, and the purchaser will have XX days to complete the purchase. The purchaser will be free to purchase the vehicle using any lender or leasing company they choose. Should the purchaser not complete the purchase within XX days of being notified the vehicle is available at dealership, this contract will be void, the deposit will be retuned to the purchaser within X days, and the dealer will be free to sell the vehicle to whomever they choose. Should the dealer not sell and deliver the vehicle under the terms of this contract within X days after the purchaser attempts to deliver payment, the dealer will do <this> (Fill in your desired method of punishment.)"
Don't use what I wrote. If you want a valid contract that takes in all the legally required elements and points you want to consider, spend a couple hundred with a lawyer in your state, and get a legally binding document that will have legal consequences if it is not followed.
And if you choose to go this route, be careful of who signs it for the dealership. It needs to be someone who has the authority to do so, not just the salesman. Usually it is the Finance Manager or Sales Manager, or the like.
Here is a short video from a university that talks about contracts related to a different topic, but hits the major points.
The only thing you need to do to ensure you will be happy with the price you pay for your Bronco is to execute a contract with your dealer to buy it at a price you want to pay - BEFORE it's too late to move your reservation/order.
A contract can take on many forms, but the best kind is in writing - and signed by parties who are willing and authorized (important part) to bind themselves.
So many members of this forum are telling tales of "their" Bronco showing up at a dealership and then receiving any number of nasty surprises. If there was a contract, and there was a surprise, then there would be legally enforceable consequences.
Think along the order of "For the sum of $XXX to be used as a deposit against the purchase price of the vehicle, the dealer and purchaser agree to the following: The dealer will sell the vehicle described in Reservation XXXXXX/Order XXXX to the purchaser for a price not to exceed MSRP, plus the actual cost of taxes and other legally required fees, and other dealer costs not to exceed $XXX. The dealer will notify the purchaser within X days of the vehicle being received by the dealer, and the purchaser will have XX days to complete the purchase. The purchaser will be free to purchase the vehicle using any lender or leasing company they choose. Should the purchaser not complete the purchase within XX days of being notified the vehicle is available at dealership, this contract will be void, the deposit will be retuned to the purchaser within X days, and the dealer will be free to sell the vehicle to whomever they choose. Should the dealer not sell and deliver the vehicle under the terms of this contract within X days after the purchaser attempts to deliver payment, the dealer will do <this> (Fill in your desired method of punishment.)"
Don't use what I wrote. If you want a valid contract that takes in all the legally required elements and points you want to consider, spend a couple hundred with a lawyer in your state, and get a legally binding document that will have legal consequences if it is not followed.
And if you choose to go this route, be careful of who signs it for the dealership. It needs to be someone who has the authority to do so, not just the salesman. Usually it is the Finance Manager or Sales Manager, or the like.
Here is a short video from a university that talks about contracts related to a different topic, but hits the major points.
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