Hello everyone,

This is my first time buying a car on my own and I wanted to post here and make sure that everything is OK. I can't help but feel like my dealer is trying to take advantage of me having no experience. So here's the deal. (Sorry if it's a long read)

On Friday, the 23rd I came in to check out the new 2013 GT. Since I have X-Plan, I told them to appraise my current car first to see if what they offer is acceptable before we proceed. They offered $8,800 for my car and I agreed (they don't know about my X-Plan at this point). The MSRP price for my car ended up being $39,395 and they said X-Plan price will be around $2,000 less. Over the weekend, I researched financing rates.

Monday came and I get a call from my dealer. He says we should go ahead and order the car. Everything else, we can discuss later. Once there he told me that since I'm under X-Plan, he can only give me $8,000 for my current car. But I'm free to try to sell it myself before the GT/CS gets here. I was kinda upset about it, but I agreed (I now plan on selling my car for at least 10K). I signed a couple of papers and my car was ordered.

The next day, I paid a $10K down payment. Now I'm just waiting six to eight weeks for the car to arrive while trying to sell my current car.

Do you guys see anything wrong with how this went down? Can I still get my $10K down payment back and walk away if something goes wrong?

 

With your Xplan you get a set price. You should be able to use the vin number and find out exactly what the price should be. Don't let them tell you how much it will cost. Find out for sure or they will get everything they can from you.

 

I can't see any reason why you would be expected to put a $10k deposit on a car order, and it sure as heck better be refundable. If the dealer cannot guarantee in writing that your deposit is refundable I would be very unhappy.

 

You should not have left them with 10 grand. I would have left 500 to 1000. Other than that sounds like a good deal. Get another 500 off or the current rebate going on and then if you order the brochure to be mailed to your house you shoul get another coupon for $750.
My msrp on my v6 premium with PP was just under 30 grand and with incentives and rebates I paid $25490 cash.

 

Thanks for your help guys. My dealer acted like they couldn't order the car for me unless I put money down. I should have asked if it was refundable then....kinda feel weird asking him now.

How can I take advantage of those incentives (the $500 & $750)?

 

If you want the car I wouldn't worry about the $10k. You can always back out of the deal until you sign the line and drive it off the lot. Be more concerned about bottom line Xplan price. You are entitled to that pricing so don't let them get over on you.

 

The first mistake was giving a deposit without something in writing as to whether its refundable or not, let alone $10K. Second of all, is the 2013 even available on X-plan?

 

I don't see how the X plan affects your trade in value. Just another way for the shady dealers to get more $$$ out of you I guess. I was told something similar when I had to have my Mustang shipped from another state.

 

Blah...I feel so bad about the deposit thing. It's alright though, I plan on getting the car no matter what. Lesson learned I guess.

Thanks for telling me about the incentives! =D

Here's the dealer's explanation about the trade-in. He said the $8800 was when they thought they were selling a $39K car. Since I'm going to get it for $37K (X-Plan) they're not making any money. Thus the trade-in is reduced to $8000. It sounded like BS at the time, but I wasn't going to back out since I want the car.

 

I only put $500 down...thats all they need....and make sure they are honoring the true X-Plan price. Another example of how people get screwed thinking they are getting so much for their trade when the dealer is just using the amount he would have taken off the new car. Did you try going to a CarMax to see what they would offer you?

 

Well the deposit given was excessive, extremely excessive. You can still go and have them give you a portion back but unless you plan on doing something with it in the next two months to earn a little interest. It really doesn't matter.

As far as if it's refundable, the dealership can not ever keep a deposit even if it states non-refundable unless ordering this car can be proven, in concrete numbers, that it has somehow harmed the dealer. Sometimes this will mean weird colors but it will not hold up in court unless there are damages and even if you ordered some weird combination, it's a normally offered option and therefore it would be an incredible feat to prove damages.

TL;DR they can't keep the deposit if you don't want the car. Now do what I do, obsessively read every forum post you can until your car comes in and Congrats!

 

That sounds like pure and utter BS, doesn't Ford reimburse dealers for the X-plan pricing to encourage dealers to accept it?

 

I have been able to buy all my Ford products since the early80's using my late father's A plan purchase plan.I have dealt with the same dealer since 1985 and have shopped at other dealers to get the best trade in I could.They all sing the same song .Since you are getting a reduced price on your car they take your car in for less so they have a chance to make up for the profit they could have made on a regular deal. If you are able to sell your trade for more ,go for it.If you feel you would have to put too much into your trade or don't want the hassle of tire-kickers or dreamers trade it in and let the dealer have the headaches.After all is said and done; if you are satisfied with the deal you negotiated and accepted ,great. Everyone can give you advice based on what they think. If you listen to too much advice you'll never be happy with anything you do.

 

Deposit was a little heavy but what's er if it's what you want. Not surprised by the trade figure changing when you went x plan on them. Common practice to over allow on the trade. They just got caught ding it and had to back track. I was in the car business for many years and my best piece of advice to a buyer is to never and I mean never mention a trade until you have them down to what you feel is the best deal on the purchase. Then throw the trade in because they will have no choice but to show actual cash value (acv) of the trade. I never played those smoke and mirror games, if I gave you a trade figure I'd buy your car for that amount if you chose to buy elsewhere. Most people think their trade is worth more then It is but when approached correctly you can make em see the light. Whenever you work a car deal work off the difference between what your trading and what they are selling. That's all that matters. In an x,a, or d plan you take one of the variables out of the equation thus forcing them to shoot you straight.

 

I agree. Its more than you needed to but since you want the car it doesn't matter in the end. Its not like you're losing interest these days anyways.

My dealer wanted 10% down to order. So I used my credit card. lol

 

Under X plan you don't have to leave any money down. It fact they are being deceptive... I did the exact same as you. Ordered X plan but put no money down as it isnt required. We're they the ones to suggest 10k?

 

Goto Fords website and select the option to get the brochure mailed to your house. When it comes it will be a much smaller brochure than the ones at the dealer. So small I almost tossed it in the trash. In the brochure will most likely be a $750 coupon.

http://www.ford.com/cars/mustang/bro...3m4n0p20120315

 

Here is the incentives section on the website. goto the bottom of the page and select your car and 2013.
http://www.fordspecialevent.com/?fmc...2m1n0p20120315

 

You guys are so helpful! Thanks, I appreciate it.

I wasn't forced to put $10K down. They asked me how much I'm wanting to put down and I said either $5K or $10K. They said the more the better, so I went with $10K.

How come the X-Plan price is a concern? I don't see anything going wrong in that department. I'm going to ask for the invoice and make sure I'm getting the right price. Also, maybe I can look it up somewhere like the X-Plan site once I have the VIN.

 

I hope it all goes well for you in the end. Send a PM to Deysha with your order number and dealer name and she will make the 6 to 8 weeks go by with lots of details like getting you your VIN and build date etc...

BTW What color combo did you go with?