Deposit %

[HUGHP]

What is the typical % deposit of a written offer to give a dealer for 24 hours? Does it vary whether negotiating for a new or used motorhome? Thanks in advance.

[Lifemember]

$1.00 is legal tender. 10% is considered good faith!

[beenthere]

I have left 5 g two times...its enough for good faith...jeff

[flaggship1]

Originally Posted by beenthere

I have left 5 g two times...its enough for good faith...jeff

For $5k dealer moved rig from Oakland Ca to ABQ NM with full kick out clause. They had locations in both places and had recently moved it from Az to Oakland. By the time I got it home it had 3k more miles on it than when I found it. All within about a months time. Aside from mechanical checkout pre purchase - I had a very good idea that mechanical condition was solid, no leaks, etc. That was all good since it was a low mileage '08. Still has less than 18k on it but doing just fine.

I mention all that because it never hurts to ask a dealer what they're willing to do. Some of these guys move em around and that can be good or bad - and no two deals are alike. But this saved us time and money. Let us take a very nice flight to a closer location and have a great two week test run at purchase while still near an out of state dealer willing to work with us.

Good luck.
Steve

[Ray,IN]

We deposited $500 with Camping World when we bought our MH, they held it for 3 days while we made a definite decision.

[jmckinley]

I once left a $1,000 deposit with an Indiana dealer late on a Saturday night. Over the weekend we thought it over and changed our minds. I was prepared to forfeit the deposit to get out of the deal so called and faxed them a letter the first thing Monday morning indicating that I was no longer interested but understood I would lose the deposit. The unit was in an indoor showroom and I didn't want them to spend 4 hours digging it out.

Sales manager called me back and said, "Did you read the back of the sales agreement? You have to take the unit!" Sure enough, that's what it said in the fine print on the back of the agreement. I complained since they hadn't been inconvenienced at all by my indecision. Within a day or two, they had their lawyer sending me letters.

I got my own lawyer, a local guy that I knew, but he wasn't too encouraging since Indiana courts are very protective of the RV industry. So I got on the Winnebago forum and blasted the dealer, wrote letters to executives at Winnebago and Fleetwood (they were dealers for both), and wrote the Attorney General of Indiana.

In the end the dealer called and begged me to back off the Internet blasts. They gave me back my $1,000 and some legal fees.

Important lessons learned:
Read stuff front and back before you sign.
Don't buy RVs in Indiana.
(neighbor found that RVs also do not get Lemon Law in Indiana.)

Dealer is now out of business.

[jmckinley]

I forgot the details of my Indiana experience. Fine print actually said I either had to take the unit or pay 10% of the purchase price.