When is an RV purchase final?

[Travel_n_Wrestl]

Not real knowledgeable on this type of stuff but...here goes. We signed papers for the loan doc last week. Loan was approved yesterday. We are supposed to do our walk through on Monday. However, we have seen some real bad reviews of the dealership that sold us our TT (specifically service) and have also noticed our same trailer for sale for 3K less that what we paid. I asked several times about MSRP and was given a number higher than what the dealer suggests. I am assuming after, doing a little research, the number I was quoted included delivery (2500) and a dealer prep fee. What looked like a good deal (~25% off MSRP) is not looking like such a good deal now (~10% off MSRP).

Chalk this up to being a bad consumer. I took the dealers word about MSRP including freight which I am now quite sure is not the case. Should have been more patient.

Since we have not taken delivery, are we locked in at this point? We did put 500 down as a deposit which is supposed be added to our down when we go sign papers and do a walk through next Monday. Or do we still have some options, like voicing my displeasure and requesting some options we didn't have, like a roof ladder, battery cut-off, TV, etc.? Can we still walk away?

[Walaby]

drsteve wrote:
Writing stuff down is what we do in an advanced civilization. How is this concept so difficult? You write it down so there are no misunderstandings, so neither party can cheat the other, and any later disputes can be settled by an impartial judge just by reading the papers.

Seems that everyone is talking past each other. No one disputes that purchases should be memorialized in writing and signed by both parties.

The question is, how much should your verbal commitment count in the interim before final acceptance and signing papers. For some people, it counts alot... for others, not so much or virtually nothing.

Most of us do NOT sign any papers until after PDI. So, if you tell a dealer you are going to buy a trailer, and will sign the papers post successful PDI, and the dealer commits to the same, is it okay if the dealer sells the trailer out from under you because he got a better offer?

No one seems to want to answer that question. But, it appears to be just fine for a consumer to make the commitment to the dealer, have dealer expend resources to prepare for PDI, and then back out because he or she found a better deal. And we wonder why dealers want papers signed as soon as possible, and not wait for PDI.

Mike

[Mr_Mark1]

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[drsteve]

Writing stuff down is what we do in an advanced civilization. How is this concept so difficult? You write it down so there are no misunderstandings, so neither party can cheat the other, and any later disputes can be settled by an impartial judge just by reading the papers.

[Walaby]

Verbal agreement/handshake whatever = commitment to buy, assuming both parties live up to the conditions.

Conditions remain the same/honored = Sign papers

Conditions changed = opportunity to walk.

Seems pretty straight forward and honest to me, from both parties. Takes care of any 'swindling' or changing of terms between the verbal/handshake and the legally binding documents.

But, I guess in today's world, people will use any excuse to back out of their verbal commitments. It's a shame but not surprising.

Mike

[wing_zealot]

Sea Dog wrote:
...when did it get to the point that one needs papers signed by a lawyer to force one to keep his word?

Well the Ponzi scheme operated in the 20's (and I'm sure he probably shook hands), so I'd say at least a 100 years ago. But more importantly, why wouldn't you formalize a deal in writing? They way everyone walks away with a clear understanding of the deal.

[Effy]

Sea Dog wrote:
Seems to me that there are a few here with whom I would not be
interesting in dealing with.

When did it get to the point that one needs papers signed by a lawyer
to force one to keep his word?

When people shook hands and got swindled anyway.

[Sea_Dog]

Seems to me that there are a few here with whom I would not be
interesting in dealing with.

When did it get to the point that one needs papers signed by a lawyer
to force one to keep his word?

[westernrvparkow]

Sea Dog wrote:

mich800 wrote:

Bobbo wrote:

This is not about one party questioning what was in the deal. It is about one party changing his mind and wanting to go elsewhere. Below is quoted from the original post.

I am referring to this a handshake deal is everything talk and those naive enough to think that alone can encompass all aspects of the deal.

I do not consider myself naive when it comes to business.
I do, however, still believe that a handshake cements the deal.
Any attempts to wiggle out after reflect more on you than on I!

Nowhere does the OP say they "shook hands" so I guess that means they can back out.
Curious, however, does crossing your left fingers while shaking hands with your right hand render the handshake contract null and void? Does a pinkie swear take a subordinate position, or does it supersede a handshake? Where does "crossing your heart and hoping to die" rate as legal standing? And if you "swear on a stack of bibles" and a competing offer was "sworn on their mother's grave", who's offer is considered binding?

[NYCgrrl]

Put it in black and white and I'm fine.
Wanna spit on your hand/ intermingle blood with a palm cut beforehand or just plain shake? Fine sorta kinda ish but let's see how well you or your lawyer communicates first.

I still remember the era of the robber barons and I'm sure they could handshake just fine;).

[Sea_Dog]

mich800 wrote:

Bobbo wrote:

This is not about one party questioning what was in the deal. It is about one party changing his mind and wanting to go elsewhere. Below is quoted from the original post.

I am referring to this a handshake deal is everything talk and those naive enough to think that alone can encompass all aspects of the deal.

I do not consider myself naive when it comes to business.
I do, however, still believe that a handshake cements the deal.
Any attempts to wiggle out after reflect more on you than on I!

[mich800]

Bobbo wrote:

This is not about one party questioning what was in the deal. It is about one party changing his mind and wanting to go elsewhere. Below is quoted from the original post.

I am referring to this a handshake deal is everything talk and those naive enough to think that alone can encompass all aspects of the deal.

[Mocoondo]

The purchase is final when the transaction documents are signed.

When you get your loan is irrelevant; when you take delivery is irrelevant.

When you sign your transaction documents, (i.e. the Bill of Sale) you are entering into a binding contract, the terms of which will be spelled out in that contract. If you signed a Purchase Order and tendered a deposit, the Purchase Order will define specific performance expected by both parties. For example, it may say that if you fail to complete the transaction, you will forfeit your deposit.

If you have any doubts as to where you are in the process, see your lawyer, not an internet newsgroup.

The time to read reviews and do your due diligence is before you hand over a wad of cash, not after.

Disclaimer: I am not a lawyer, but I am a dealer.

[Bobbo]

mich800 wrote:

Sea Dog wrote:
I must be getting old!
To me, a handshake is a deal,
superseding any paper work.
What ever happened to "his word is his bond"?

No one is arguing that. The problem arises when one party questions what was the deal? It's not that difficult of a concept.

This is not about one party questioning what was in the deal. It is about one party changing his mind and wanting to go elsewhere. Below is quoted from the original post.

Travel'n'Wrestle wrote:
Not real knowledgeable on this type of stuff but...here goes. We signed papers for the loan doc last week. Loan was approved yesterday. We are supposed to do our walk through on Monday. However, we have seen some real bad reviews of the dealership that sold us our TT (specifically service) and have also noticed our same trailer for sale for 3K less that what we paid.
.
.
.
Since we have not taken delivery, are we locked in at this point? We did put 500 down as a deposit which is supposed be added to our down when we go sign papers and do a walk through next Monday. Or do we still have some options, like voicing my displeasure and requesting some options we didn't have, like a roof ladder, battery cut-off, TV, etc.? Can we still walk away?

[mich800]

Sea Dog wrote:
I must be getting old!
To me, a handshake is a deal,
superseding any paper work.
What ever happened to "his word is his bond"?

No one is arguing that. The problem arises when one party questions what was the deal? It's not that difficult of a concept.