How can I change my new car purchase after paying a deposit?
QUESTION
Hey John,
My partner and I have been looking at purchasing a new SUV.
We have put a $1,000 deposit on a Mitsubishi ASX at our local dealer prior to subscribing to your YouTube channel.
Is there anyway you can help us save a few dollars on our new purchase even upgrading the model or colour?
I have tried bargaining with the dealership to even do a (different) colour without the extra cost and they will not budge.
Looking forward to hearing from you.
John
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ANSWER
John,
Once you pay a deposit you are basically entering into a contract to purchase a particular vehicle at a particular price. At this point the dealer will not negotiate (nor should he) because you’ve agreed to the price. That’s how this works.
It’s a bilateral agreement, and you’ll lose your deposit if you back out. Therefore, you’d have to be pretty sure you can get at least $1000 off another ASX, just to break even (ie - no point doing that).
I don’t think there’s any point doing this unless you think there’s several thousand more dollars to be saved here.
We can get involved, but if you back out, you are definitely going to lose that $1000.
Please advise what you would like me to do.
JC
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