Interest on our down payments?

[Krodger277]

Didn't put a deposit on mine either. My dealer said he would have no problem selling it if I changed my mind.

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[Blvckrose]

I never had to put a down payment down I asked and they told me they didn’t need one..

 

[Blvckrose]

Didn't put a deposit on mine either. My dealer said he would have no problem selling it if I changed my mind.

That’s exactly the same my dealer said to me

 

[jbpoole]

Didn't put a deposit on mine either. My dealer said he would have no problem selling it if I changed my mind.

Yeah, sooner or later, somebody would probably be interested in buying it. It was very nice of the dealer to forego the deposit. He was really trying to help you out. Gotta love 'em, those car dealers.

 

[DryHeat]

He absolutely is eligible to be paid interest on his deposit.

If they dont pay it automatically, all he has to do is bring his signed contract to the dealer showing the interest and payment terms he and the dealer agreed to upon making the deposit.

Sarcasm, right? I'm just going to assume this is sarcasm.

 

[999]

YES! DEFINITELY.

How many radically incorrect assumptions can one person make in just one post?

This is probably a stupid question but is ford applying any interest to our payments that they are holding?

I am going on 6 months at this point since I placed my order. In that time I am sure that ford has made a pretty tidy amount of interest having all of our payments sitting in the bank for them.

you figure roughly 10,000 orders with $500 down and that’s $5,000,000. Now I am no math wizard and I am just guessing at the amount of orders and amount that was put down. But at just 2% interest they are making $100,000 a year on our money.

they pulled this with the bronco saw that they could have extra cash on the books and now are pulling it on the maverick and I am guess next will be the lightning pickup.

maybe it’s time to consult one of those class action lawyers.

 

[jbpoole]

That’s exactly the same my dealer said to me

What???? You don't say! There are actually TWO nice car dealers in the United States. You're so lucky!!!

 

[Mendicant]

Further, who do you know of that pays interest on a deposit, whether refunded or applied to a purchase?

The following states legally require your landlord to keep your security deposit in a separate, interest-bearing account and pay that interest back to you upon termination of your lease.

• Illinois
• Ohio
• Pennsylvania
• New Jersey
• Connecticut
• Maryland
• Massachusetts
• Minnesota
• New Mexico
• New York
• North Dakota
• Washington State
• Washington DC

 

[DryHeat]

The following states legally require your landlord to keep your security deposit in a separate, interest-bearing account and pay that interest back to you upon termination of your lease.

• Illinois
• Ohio\
• * * *

Wait! ... Is my car dealer also my landlord? Or does that apply only if I live in my car?

Seriously, I'm pretty sure we're talking about car dealers here. Landlord-tenant law doesn't apply.

 

[YOBY]

I was early in the game and offered a $200 deposit (never asked for) to compliment my contract, just in case they were to lose the paperwork. Very hard to deny contract lose, when they have some of your money and you have a receipt on their letterhead.

 

[bbhaag]

Our dealer also did not require a deposit to place an order for our Mav. I also find the thread tittle misleading because even if your dealer did require a deposit that is completely different than a down payment.

 

[jbpoole]

The following states legally require your landlord to keep your security deposit in a separate, interest-bearing account and pay that interest back to you upon termination of your lease.

• Illinois
• Ohio
• Pennsylvania
• New Jersey
• Connecticut
• Maryland
• Massachusetts
• Minnesota
• New Mexico
• New York
• North Dakota
• Washington State
• Washington DC

Irrelevant.

A security deposit paid to a landlord is very different from paying a deposit to a dealer for the purchase a new vehicle.

 

[Blvckrose]

What???? You don't say! There are actually TWO nice car dealers in the United States. You're so lucky!!!

I guess so lol

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