I just want to add a little clarification on this topic. Contracts are
binding and you are correct, the devil is in the details.
Greg did not have an executed California Automobile Sales Contract. He had
a sheet of paper with some numbers written on it, and a receipt for a
deposit on an ordered vehicle. Very big difference. If the dealer had
obtained the vehicle, and Greg had changed his mind, the dealer cannot
retain his deposit. Likewise, dispite leaving a deposit, there are many
reasons besides price that a dealer would not be able to supply the vehicle,
and again, would then refund the deposit money. In reality, a deposit is
meaningless. Credit card deposits can be easily reversed, checks can have
stop payments applied.
Even if they had executed a California Automobile Retail Sales Contract,
there is a "Notice of Right of Rescission" disclosure built into the
contract. It reads, "...You agree that if the Seller is unable to assign
the contract to any one of the financial institutions...under an assignment
that is acceptable to Seller, Seller may rescind (cancel) the contract. b.
Seller shall give written notice...within 10 days of the date this contract
is signed if Seller elects to rescind..."
Like it or not, the disclosure does not define what is "acceptable to
Seller" but it could include just about anything.
I have never implied that what that dealer did was right, only that there
was really nothing enforceable.
I would like to offer that I am always available to help someone negotiate a
car deal. Just send me an email. Sales manager to sales manager usually
cuts out any of the bull. I also can sell Extended Service Contracts backed
by CNA within California on any vehicle that is still under factory
warrantee. I work at a dealership that carries Chevrolet, Ford, Lincoln,
Mercury, Honda and Isuzu new car lines, and have friends at Mazda, Toyota,
Dodge, Nissan, Chrysler, Pontiac, Cadillac, Subaru, BMW, Mercedes and Volvo
dealerships. Just like we count on others on this list for their areas of
expertise, I hope that you all would feel free to ask for my assistance if I
can help.
David Riker
74 Midget
63 Falcon
70 Torino
http://home.pacbell.net/davriker
----- Original Message -----
From <SDOliner at aol.com>
To: <spridgets@autox.team.net>
Sent: Tuesday, March 05, 2002 8:04 AM
Subject: Re: Dealing with Buying a Car
> I have not read the fine print on the contract, but I totally disagree
that
> the sales contract is not binding.
> You are clearly entitled to the difference in the agreed upon price and
what
> you will have to pay.
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