06-04-2007, 10:40 PM #1
I just recently purchased a new 2006 RXP on Saturday. This is my first purchase of a new PWC. I was not able to take it home because they didnt have the trailer available. They told me I can pick it up on Monday or Tuesday. Well today I get a call and they tell me that there is a problem. So I headed down there. (East Bay Motorsports in Hayward,Ca.) and spoke to the sales manager who I personally dealt with. He states that he made a mistake and he can not give me my Seadoo on the original terms we agreed upon.
I signed a contract for 15 years @ 6.900% fixed. I was able to get the RXP for 14k out the door with trailer and additional 4 years extended warrany. I plan on paying the Seadoo off in 2 years time so the term of the contract is good for me. Low payments and zero down. Now he is telling me that the best he can do is a 5 year @ 12.99. Then he says "I'll take another $1000 off and you get financing from somewhere else". My credit score is excellent.
So what I am asking is, what can I do here? I signed all the documents to purchase this RXP. I know for a fact that if I decided not to buy the boat after signing the contract I would be screwed and they would tell me "sorry but you signed the contract and there is no cooling off period".
Any suggestions would help. I live in the Bay Area in Northern California.
What are my options.
Thanks so much
06-04-2007, 10:44 PM #2
06-04-2007, 10:51 PM #3
Im just curious as to what you had paid for yours? What is the tax over there in Florida?
06-04-2007, 11:05 PM #4
06-04-2007, 11:13 PM #5
Assuming your excellent credit = a fico of around 740+ and your debt to income ratio is below 40% I'd say he is working you, walk away from the deal. You are only obligated to the deal you signed for, any changes are not binding. $14k for a pwc, damn that's expensive when you can get a boat for another $2k, maybe there's a larger demand for the pwc's.
06-04-2007, 11:30 PM #6
yeah my Fico is 730 and I have a $1000 total on all my debt not including my mortgage. I am just wondering if they are getting over on me on the price why are they so adamant of trying to give me the RXP for a $1000 less than what the contract is signed for. $14k to $13k out the door and for me to go with the 5 years @ 12.99%.
Wouldn't they want to make this deal if it was in their best interest? Profit wise.
I have a boat already. Its a 1980 21' hallett jet w/454 runs in the low 60's
Last edited by Splooge; 06-04-2007 at 11:37 PM.
06-04-2007, 11:42 PM #7
Because more than likley they will be getting a kickback from the finance company at 12.99%, vs the 6.99% deal that they either can't get or don't want to give you. If he can just knock a $1000 off the price now, he obviously wasn't giving you his best price to begin with. Financing and warranties is where dealers make a good bit of their profit. If I were you I would do some research on dealer cost for the ski you want and shop around for a dealer that will give you a price you want to pay. I would also recommend setting up your own financing ahead of time, so that you can just stroke a check when you get your price.
With your fico you can buy a ski anywhere, don't overpay due to impatience, 12.99% is a joke. I would be running away from this clown, I wonder what their warranty service will be like based on the sales experience?
06-04-2007, 11:52 PM #8
Yeah Im so excited to get this RXP to my house. My daughter even chose the color. I have to calm down thats for sure. I don't want to screw myself here.
My contract that I signed for is for 6.90% and my payments are $126 a month. I liked the low payment because after 2-3 years I am going to cash it out. There is no pre-payment penalty either.
Are they not binded to the contract like I am? My buddy suggested a lawyer. For some reason I feel as if the Sales Manager knows he f*@ked and now is trying to back pedal by telling me that they can no longer give me that interest rate with the term that we both agreed on and signed.
06-05-2007, 12:01 AM #9
Let's be realistic, how much is an attorney going to cost? They simply say they made a mistake and that's that, no delivery was made so the contract was not finalized. You could have done the same prior to taking delivery, they would try and scare you, but at the end of the day, no delivery means the contract was not completed. Worse case scenario; you call the bank and tell them you have no intention of paying, I don't think they'll keep the offer out there. You can't force them to sell it to you for the previously negotiated price, it's just not going to happen.
Just get your excitement in check and shop without emotion, otherwise the seller has you where he wants you. Other dealer's have the same ski in the same color, why fixate on this one?
06-05-2007, 12:06 AM #10
So what you are saying is that, because I didn't take delivery of the vessel that the contract can be voided by them? If that is the case I will have to take my business else where.
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