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Trade-in vehicle
Got some general questions about vehicle trade-in. I will be trading in my current car with a 325i.
1) Is it a normal practice for the dealorship to limit my mileage before pickup of the car?
2) If #1 is a yes, what will usually happen if I really do go over the mileage promised? Should all this be written down in the papers?
3) If the car is delayed in delivery, I guess this will automatically void this mileage (ie I no longer have to keep within the mileage promised)?
| | Reply » Trade-in vehicle |
I don't know if things are done a bit differently in Canada but my question would be: why are you finalizing a deal before the specific car in question is on the dealer’s lot?
How can one even legally get financing or otherwise finalize a deal without a V.I.N. number?
Using my own example, I have placed a $1000 deposit on a 2006 e90 330i.
When my car is actually "orderable" through BMW NA in July or August [delayed color and Comfort Access] my sales rep will place my order and the car will be built in September and arrive in October.
When the car arrives I will go down and we will negotiate the actual deal; total cost, trade-in value, TTT, etc.
If we cannot come to a mutually acceptable deal then the dealer will hold my $1000 deposit until the car they ordered for me is sold to another customer. Seems pretty straightforward. Maybe I misunderstood your question but I would not finalize a deal, including trade-in value, until your specific car is on the dealer's lot.
Cheers.
| | Reply » Trade-in vehicle |
Thanks for your reply...
I have actually ordered my 325i already back in May. When I made the order, the VIN number was already available. Since the car is coming in July, I was worried that the price that the dealorship is willing to pay for my car in May will be different at the time when of delivery (since I drive a lot). This was why there was the promise to limit my mileage and the dealorship promised in turn the trade-in value.
One thing that we didn't agree on was what would happen if I go over my promised mileage. Although the papers (vehicle purchase agreement) is signed, does this mean that the deal that we had before is invalid and that the price can be negotiated again? Is it possible to get my deposit back should there be no deal?
| | Reply » Trade-in vehicle |
Quote: Thanks for your reply...
I have actually ordered my 325i already back in May. When I made the order, the VIN number was already available. Since the car is coming in July, I was worried that the price that the dealorship is willing to pay for my car in May will be different at the time when of delivery (since I drive a lot). This was why there was the promise to limit my mileage and the dealorship promised in turn the trade-in value.
One thing that we didn't agree on was what would happen if I go over my promised mileage. Although the papers (vehicle purchase agreement) is signed, does this mean that the deal that we had before is invalid and that the price can be negotiated again? Is it possible to get my deposit back should there be no deal? | When you order a car, a dealer will often give a trade in value that has a "good until" date or mileage. This is really a goodwill move on their part-- the value of the car can changed daily. They are just agreeing to honor the number that they gave you for a reasonable period of time or number of miles. Should something wierd happen and your delivery is delayed, or should you put excessive mileage on the car, your trade in value would be subject to adjustment based on the actual value of the car at the time of actual delivery.
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Trade-in vehicle