To cancel a car deal?

**wavecxs** · March 16th, 2017 10:36 AM

Hi fellow tsikoteers. It's been a long time since I last posted here. I'd like to seek some opinion, I am in a bit of a situation. I apologize if there is a similar thread, if there is, I wasn't able to find it.

We are about to buy a car, already paid 65% of the amount and will pay the entire amount when we get the car tomorrow, basically a done deal except for the signing of papers.

Now... I thought we already found a great discount when a (different) dealer called me up yesterday informing me of a bigger discount, 55K more than what our current dealer is willing to give.

To me, 55k is still a lot of money and I am thinking of cancelling the deal with the current dealer and going with the new one (offering 55k more discount).

- your thoughts?
- is it even possible to cancel the deal at this point?

kasalanan ng excise tax to e. we usually buy cars late april or nov-dec where the good deals usually are but the pending excise tax messed up our schedule. although, irrelevant to the thread we are getting (one of the big three) SUV, so price is in the range of 1.3-1.5M

i am confused salamat sa mga sasagot.

**vinj** · March 16th, 2017 10:43 AM

Check the terms of the docs you signed when you settled the 65%. Usually you forfeit reservation then it takes time for them to return the money you have issued to them (unless hindi pa na-deposit yung check).

**CVT** · March 16th, 2017 01:25 PM

For a brand new vehicle,- and I surmise that it is, first time I heard of paying 65% and then 35% when you're getting the vehicle....

Di ba, parang P5K or P10K lang and deposit?

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"The measure of a man is what he does with power" LJIOHF!

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**dr. d** · March 16th, 2017 01:46 PM

yes. check the documents if there is a way out for you.
otherwise, bluff your way. tell the SA that the other dealer is offering a significantly bigger discount than him, and that you are thinking of going over to the competition.

**wavecxs** · March 16th, 2017 02:40 PM

to be clear the dealer is not the one who specified the 65%, we did. That 65% is the down payment. no document signed yet all that there is are receipts of the amount paid.

so technically it is a reservation. we sold our big car and so we need a replacement quick hence the big downpayment for the dealer to release the car as quick as possible. at that time, this dealer gave the best discount until I got the phone call from another dealer.

my thinking is... since reservations are refundable then our payment (downpayment) should be, right? i know it will take a little longer for the dealer to refund our money (in case we opted to back out) but for 55K we can wait a few weeks, a month at most.

on the other hand, I kinda think what I am about to do (backing out of the deal this late) is bad gesture... kinda a sucker punch... but then it's 55K!

right now, leaning towards pushing through with the deal...but....

**dr. d** · March 16th, 2017 02:44 PM

the manufacturer gives its dealers the same price, and the same discounts.
is 55K incentive enough for you, to go ask your dealer if he can give you the same discount that the other dealer is dangling in front of you?

**vvti2.0** · March 16th, 2017 02:47 PM

Originally Posted by dr. d

the manufacturer gives its dealers the same price, and the same discounts.
is 55K incentive enough for you, to go ask your dealer if he can give you the same discount that the other dealer is dangling in front of you?

SUV with 55k discount, hulaan ko, Toyota.

**vvti2.0** · March 16th, 2017 02:49 PM

55k more than the currenf discount... mukhang di Toyota...

**CVT** · March 16th, 2017 02:59 PM

Originally Posted by wavecxs

to be clear the dealer is not the one who specified the 65%, we did. That 65% is the down payment. no document signed yet all that there is are receipts of the amount paid.

so technically it is a reservation. we sold our big car and so we need a replacement quick hence the big downpayment for the dealer to release the car as quick as possible. at that time, this dealer gave the best discount until I got the phone call from another dealer.

my thinking is... since reservations are refundable then our payment (downpayment) should be, right? i know it will take a little longer for the dealer to refund our money (in case we opted to back out) but for 55K we can wait a few weeks, a month at most.

on the other hand, I kinda think what I am about to do (backing out of the deal this late) is bad gesture... kinda a sucker punch... but then it's 55K!

right now, leaning towards pushing through with the deal...but....

Bro.,- assuming everything else is equal and you have enough dough.

Grab the deal with the P55K and just wait for the refund of the 65% in a few weeks.

Your 65% will not earn P55K in a few weeks.

Better,- give them the chance to match the offer.

Cash Is King!

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"The measure of a man is what he does with power" LJIOHF!

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**wavecxs** · March 16th, 2017 03:11 PM

here i am about to decide to push through with the deal then i receive this advice. good advice bro. hehe

to clarify again, the discount is a lot more than 55K, what I am saying is this current dealer of mine already gave a good deal (so good, we put a downpayment of 65%), it's just that a new dealer comes along with an offer 55K better.

this is the first time I got into this kind of a situation (counter offer 2 days before car release).

I would probably push through with the deal and give myself a pat in the back for not sucker punching.... we could've vacation in bali for 55K though waah

Originally Posted by CVT

Bro.,- assuming everything else is equal and you have enough dough.

Grab the deal with the P55K and just wait for the refund of the 65% in a few weeks.

Your 65% will not earn P55K in a few weeks.

Better,- give them the chance to match the offer.

Cash Is King!

_/_/_/

"The measure of a man is what he does with power" LJIOHF!

32.0K _/_/_/_/_/

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