Hey guys, for those of you following my Corsica thread for my friends son, he has decided that he wants to buy it. The total list price will be $1550 OTD (I think) but anyway he is not quite there yet. He probably has another 3 or 4 weeks to save up for it. Would the dealer be willing to hold the car with $200-$500 down? Thanks!
Having a dealer hold a car?
- Thread starter renegade_987
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I would think that you will have to ask the dealer about holding the car for a month with a substantial deposit, It's their decision, they have the car.
It might be different where you live, but here in Michigan I don't think the dealer would bother. They just want to sell the car, not be in the storage business. I hope it works out for you.
I bet the dealer would be willing to finance at usurious terms, just get a contract without a prepayment penalty and pay it off next month.
In fact if you finance it at 15% you might be able to grind 'em down to $1200 OTD then punk 'em when you pay it off ahead of time.
In fact if you finance it at 15% you might be able to grind 'em down to $1200 OTD then punk 'em when you pay it off ahead of time.
Tell him to sign the contract on Monday and put down $500 (get a receipt and copy of sale contract)and tell them he will come in on Friday to pick up the car and pay balance. Then call on Thursday and tell them he is out of town and will be in next Wednesday and so on. Once he has signed the contract and given them a deposit the car is legally his. Then have him mail them a check for part of the balance each week.
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Originally Posted By: 46Harry
I would think that you will have to ask the dealer about holding the car for a month with a substantial deposit, It's their decision, they have the car.
This.
They may be a buy here/pay here place and can do it. Asking is the best approach.
I would think that you will have to ask the dealer about holding the car for a month with a substantial deposit, It's their decision, they have the car.
This.
They may be a buy here/pay here place and can do it. Asking is the best approach.
Instead of giving a deposit, I would roll the dice that this thing is still available when he has all of the money....it isn't exactly a high demand vehicle. Besides, the potential is there that things could get sticky with leaving a deposit...simply isn't worth the headache.
Typically dealers will hold it for a day or two, but not for weeks.
But work something out with them -- and get it in writing.
But work something out with them -- and get it in writing.
Have his father LOAN him the money. Have a signed contract from son on pay-off date and amount.
Originally Posted By: ryansride2017
Instead of giving a deposit, I would roll the dice that this thing is still available when he has all of the money....it isn't exactly a high demand vehicle. Besides, the potential is there that things could get sticky with leaving a deposit...simply isn't worth the headache.
This is the route I would go. If it's meant to be, it will happen, if not, there's something better around the corner.
Instead of giving a deposit, I would roll the dice that this thing is still available when he has all of the money....it isn't exactly a high demand vehicle. Besides, the potential is there that things could get sticky with leaving a deposit...simply isn't worth the headache.
This is the route I would go. If it's meant to be, it will happen, if not, there's something better around the corner.
Originally Posted By: Doog
Tell him to sign the contract on Monday and put down $500 (get a receipt and copy of sale contract)and tell them he will come in on Friday to pick up the car and pay balance. Then call on Thursday and tell them he is out of town and will be in next Wednesday and so on. Once he has signed the contract and given them a deposit the car is legally his. Then have him mail them a check for part of the balance each week.
This is potentially terrible advice. Depending on the contract wording if the buyer falls through the dealer keeps the $500 as the buyer's in breach.
Tell him to sign the contract on Monday and put down $500 (get a receipt and copy of sale contract)and tell them he will come in on Friday to pick up the car and pay balance. Then call on Thursday and tell them he is out of town and will be in next Wednesday and so on. Once he has signed the contract and given them a deposit the car is legally his. Then have him mail them a check for part of the balance each week.
This is potentially terrible advice. Depending on the contract wording if the buyer falls through the dealer keeps the $500 as the buyer's in breach.
ls1mike
$50 Site Donor 2026
Look I am GM guy, but no one and no one is going to hold a Corsica in this day of age. It will be a good first car but unless you are in a SMALL town and know the dealer I can't see that happening.
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