Venom800

Any advice on what to get in writing and how large of a deposit to settle on? I have heard that some people ordered stangs at an agreed upon price and then when their car came in the dealership called and said they changed their mind and that the person would have to pay more. I want to make sure this doesn't happen.

Also, what type of stipulations should I ask about the deposit? I know that I want to try to get a refundable deposit. Is this what everyone else is doing?

I am sorry for all the questions. I just graduated college and this will be my first car purchase.

Thanks in advance.

biznazion

First, nice choice for a car. What you need to get in writing depends on what kind of price you can negotiate. The farther under MSRP you get - the more important it is to get things in writing. I believe there is some kind of purchase agreement that you can get signed by sales manager. I don't think dealers can legally take a non-refundable deposit, but it never hurts to make sure you can get it back if you back out of the order - and anything over 500 bucks is on the high side I'd say.

Venom800

I have negotiated $500 over invoice. What should I be willing to put as a deposit? I am still not positive on color, but I think that I am going to get Tungsten.

ISELLFORD

A deposit of $500 should be more than adequate. if they ask for more than that i would wonder.

NuPony05

My dealer required a $2,000 NON refundable deposit to take my order at full MSRP. The deposit was refundable only if the car came in not the way it was ordered. I had a written sales agreement that listed the price of the car, my deposit, any trade, and a balance due at delivery. That is a written "contract" that the dealer should not be able to back out on. My dealer tried to "squeeze me" for an MSRP increase that happened after I ordered my car but before I took delivery. I informed the dealer that I knew that Ford offered price protection for orders placed prior to the MSRP increase. They backed off and I paid exactly what the "balance on delivery" line of my sales order stated.
The other things I have heard is that some people had verbal agreements to be able to purchase at a Plan price (A,X) but then the dealer backed out at delivery. I don't think that is very ethical of the dealer, but I ma not sure the buyer can do much about that. It is up to the dealers to accept Plan pricing.

tw0scoops123

I negotiated for 500 under MRSP. Dont go any higher than MSRP. And once you "buy" and order the car and have the total amount on paper, the dealership cannot "change their mind" and charge you more. It's ILLEGAL. That's why you get a small contract that you sign when you order yours with a price. They can't go back on that price.

Venom800

Thanks for all your advice!