That deal went south!

We thought everything was a go and we would pk-up our new Elkridge on the 16th. Dealer called today with payment and loan information and it was a lot more than what we thought. We asked why and found out that on the paper work it stated MSRP amount -trade in amount -$$ taken off MSRP, total due. We thought that would be amount financed right? Then when they called today he said payments would be more because they added back what we still owe on trade in ( not on paper work) and that was what would be financed, and determining our payment. NEVER had this happen before. Called the deal off. Later owner called to explain...still did not help ....very disappointing, they should have said all this up-front. And it should have been on paperwork...so we are checking out other dealers now.
 

pegmikef

Well-known member
Yep, trade in payoff balance sure should have been on the paper work. Don't blame you a bit.
 

branson4020

Icantre Member
A very sleazy and not uncommon practice. Sales guy "forgets" to account for loan balance due on trade-in, and in all the excitement and numbers flying around and arms waving, you don't notice it either. They just figure by the time you get to this stage your committed. Good for you for walking away.
 

danemayer

Well-known member
Anyone would be upset after getting a big change in the bottom line at closing, and the sales person was foolish or deceitful to "forget" to include the amount owed in the original financial workup. Of course, the balance due on the old unit isn't going away, so if you decide to talk to a different dealer, the bottom line may not change very much.
 

Invizatu

Senior Road Warriors
Forget MSRP altogether (they are getting you on both ends doing this... B.S.). Your trade in should be leveraged against whatever your final negotiated price is. Of course your trade in value is negotiable also, keeping in mind balance owed is part of the equation. I would demand a sit down with the owner and or general sales manager and give them the opportunity (one time only) to accept an offer that you feel good about. If they refuse, go somewhere else. I would be hard pressed to offer anything over 65% of MSRP. Good Luck!
 

Bob&Patty

Founders of SoCal Chapter
You should figure 25-30% off what ever the dealers MSRP is. Thats the price you should ask for. What is still owed on your trade is not going away. Go to Kelly Blue Book or NADA and look up the trade in value for your rig you have now. Dealers use what is know as the "Black Book". See if you can find a HL MSRP on the Elkridge on forum and spec it out with the equipment it has. Thats what HL says it should sell for. Trust me...the dealer will still make a decent profit with the 25-30% off their MSRP.
 
After paying our 5er off, We owe 13,600. We were only getting 7,899. off MSRP. So we are still looking. we love this 5er so hope to find a better deal down the road. Thank you everyone.
 

JohnDar

Prolifically Gabby Member
When we bought ours at the RV show, part of the deal was they gave us what we owed on the TT as the trade-in value, so we basically walked away from the TT and into the BH. But the BH was sold to us at the show price, not the MSRP. Only things that raised that price was the add-ons we requested from the dealer. Actually, the one we have is not the show model since we wanted a different color interior and they had it in stock, same OEM equipment.

Buying anything at the MSRP price from a dealer? They should give you candy, flowers, and a morning after pill.
 

Sandie

Well-known member
We thought everything was a go and we would pk-up our new Elkridge on the 16th. Dealer called today with payment and loan information and it was a lot more than what we thought. We asked why and found out that on the paper work it stated MSRP amount -trade in amount -$$ taken off MSRP, total due. We thought that would be amount financed right? Then when they called today he said payments would be more because they added back what we still owe on trade in ( not on paper work) and that was what would be financed, and determining our payment. NEVER had this happen before. Called the deal off. Later owner called to explain...still did not help ....very disappointing, they should have said all this up-front. And it should have been on paperwork...so we are checking out other dealers now.
Not an uncommon practice by dealers, especially when you are upside down on your trade-in. Car dealerships do the same in those cases...however all of this should have been explained to you as to how and why they have to do it that way and should have been agreed upon in the beginning. Sorry you lost out on the deal, next time around hopefully all this will be explained up front.
 

Coyote

Member
When we started to deal $8000. came off the MSRP on our Elkridge before any mention was made of our trade. That's the way it should work if the dealer is on the level. JakeWandaWhite good luck as you deal in the future.
 
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