Looking for advice buying my first new car - Ford Mustang Forum
 
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post #1 of 11 (permalink) Old 06-18-2014 Thread Starter
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Looking for advice buying my first new car

Hello all. I am in need of advice with a huge disappointment I recently suffered in trying to buy my first new car, a 3.7.

Short Version:
I researched for months
Got a car loan
Secured $750 private cash from ordering a brochure from Ford
Found car in a nearby state
Got coupons from local dealer's site
Negotiated a price
Signed the purchase agreement with the salesman
Took the agreement to the bank to get my loan finalized
Was called by the dealer an hour later saying the car sold to someone else a little while ago.

Long Version:

My whole life up to this point I have had a used vehicle, in ok to poor condition. I'm getting my life going, have found my career and have been looking into purchasing a mustang for the past several months. I have test drove several, and gone to multiple ford dealers in the process. I recently pulled the trigger in buying one. I got my loan set up through the bank, went to the dealer, he checked the availability of the car in the computer, then called to verify it was still available, and it was. We worked out a price and both signed the purchase form, and I was told the car should be there in a few days.

I went to the bank and dropped off my purchase agreement to finalize the loan. An hour later the salesman calls me and says he's sorry but the car was sold to someone else. There are no cars with the options and color available at. I'm devastated.

The dealer says there are a few cars being built with the options I want, but it will take 4-8 weeks for them to be ready, and he may not be able to get one. My dealer coupon for $300 is about to expire, and my $750 cash back expires by the end of this month. I told the salesman it's completely unacceptable that he signed an agreement with me, and told me I would have the car, but somehow let another person purchase it after I already had. I demanded a car with those options at the agreed upon price, as well as some compensation if I now have to wait several more weeks for the car that I agreed to receive in a few days.

The salesman responded that "we can't assume liability on a dealer trade when we're told a vehicle is available and then they give it to another dealer without notice. Any compensation would be out of my pocket." He offered me a year long maintenance plan, a free $200 value.

I would like as many opinions on this as possible from everyone here. I feel completely cheated. What would you do in my situation? Do you think I have a right to demand the car agreed upon at the agreed upon price? Do I have a right to expect to be compensated in some way for waiting months for what I signed for? Am I being unreasonable with my requests?

Also, do you think I should release the info on this dealer and update the thread as things happen, or wait to see what they do first? This is a dealer in a small town who pride themselves and advertise endlessly on their personal approach to selling, and customer service?

If you have any opinion on the matter please post. Please give me advice on what you think I should do.

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post #2 of 11 (permalink) Old 06-18-2014
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sorry

in your contract you signed a paper that says they can revoke or cancel the contract at anytime. they do this to protect themselves. Take it in a grain on salt and keep looking wait for the other one. save you money up for a bigger down payment then you payments will be cheaper. And you can wait on getting your first scratch on your new car.


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post #3 of 11 (permalink) Old 06-18-2014 Thread Starter
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Thanks for your response. I like you or comment about waiting longer for your first scratch lol. What about the fact that I will lose the coupon and the rebate? That will affect my monthly payment. How about the fact that they aren't making the cars any more? It would be pretty easy to say "just wait for the next one" if my rebates weren't running out, and there would actually BE a next one.
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post #4 of 11 (permalink) Old 06-18-2014
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If you want to use the $750 coupon you are most likely going to have to settle option wise. So ask yourself whats more important. If you can wait there will always be other incentives and six months from now you will probably have no problem finding the exact one your looking for. Myself if I had a car now I would wait save money like previously stated let the stock pile fill up and watch for good encentives around the end of the year.

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post #5 of 11 (permalink) Old 06-18-2014
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What a HUGE disappointment!! I'm sorry for the aggravation but.....
I just waited 4 months for the '14 GT Premium I ordered. Without going into what caused such a ridiculous wait, I can say now that I have the car, the craziness I went through during those 4 months now pales into a distant memory as I love my car!!
For you....don't let the bastards who did that to you at the dealer spoil the excitement and joy of getting a new Mustang. Focus on your new Mustang (it's out there somewhere); it waits for you in the short future.
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post #6 of 11 (permalink) Old 06-18-2014
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Take your business elsewhere.
There are great deals in the northern Virginia/Maryland area.

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post #7 of 11 (permalink) Old 06-18-2014
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That sucks, no doubt about it. Maybe it's an honest mistake, maybe they found someone paying more. Do they have something with some extra options that maybe they'll go lower on? It sounds like you're already willing to look outside your local area. There's plenty of Ford dealers around. See what else is out there before the incentives expire.

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post #8 of 11 (permalink) Old 06-18-2014
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it sounds like an honest mistake.....the only part I don't think is true is the bit about new ones being built. IDK but I think they've stopped production to retool for the new model. Good luck...you didn't say what options but the few I recommend are a 3.31 rear end if you are getting a manual and some type of b/up sensor/camera along with the factory alarm.

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post #9 of 11 (permalink) Old 06-18-2014
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Sorry... the dealer is right in this case. It's a dealer trade vehicle. The selling dealer has absolutely no control over the stocking dealer selling the car to someone else before the deal is finalized. The selling dealer does not contract with another dealer for a dealer trade until he has a signed contract and check in hand. And the stocking dealer is not going to lose a sale just because he has had an inquiry about stock. That's just normal practice in the new car sales business. It would be completely different if the selling dealer had the car in stock at the time you signed the order. As it is, it's just bad luck and the dealer is not liable to you for anything - the maintenance plan offer was merely a goodwill gesture. You might be able to get the dealer to extend a little more goodwill and maybe find a similar car that has an extra option or two to sell you at a price close to what you negotiated. But they don't have to do that (or anything at all really) so it would be best not to aggravate them too much lest they tell you to go away.

You could contact Ford Customer service and see if they will extend the $750 coupon expiry date based on a sale waiting on delivery (if you order the car you want). Or you can request multiple additional brochures using different email addresses - most people have good luck doing that. The rebates will still be around... maybe not exactly the same but there will be rebates.

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Sorry about your experience and disappointment, but there are a few things to keep in mind. First, a bird in the hand is worth two in the bush. As far as the dealer is concerned, you could never show up to buy that Mustang regardless of what you signed. What are they going to do? Take you to court? You mentioned you live out of state, right? Rather, someone walked in to buy the unit you wanted. Business is business; if I were running the place, I'm taking the sure sale. That's all they did.

Second, we love cars but they don't. Car sales is a units moved game. Many consumers don't realize that dealerships finance/pay rent on the new cars they sell. So every month, each Ford dealer is making a payment to Ford for every unit sitting on their lot. Truth. See now how they'd move a unit right out from another customer? For every day that car sits on the lot, they're losing money (either in real dollars or income potential). Plus when you live out of state, it's not like they will see you again. What's the loss to them? They have to pay for the lights, maintenance, employees' health insurance and 401k matches, advertising costs, etc.

Third, forget your dealership coupons. They don't exist. It's bullhonkey. Any dealership sales tactics like that come out from the car's "holdback" money. Here's the deal: dealerships never pay what they claim they paid for a new unit. The "invoice" price isn't what they paid. Rather, the real price they paid is the "invoice" price MINUS the "holdback" price per unit. In that capacity, holdback money is meant to ensure a profit on each new unit sold. A dealership counts the rent they pay on each unit out of said holdback money. Once the numbers come out in the wash, many times dealers make under $1,000 profit on a new unit sold. Sometimes they legitimately lose money. The real money in car sales comes from used cars, where the profit margin averages upward to $5,000 per unit.

So here is my advice: don't take it personally. I've purchased over twenty new cars (personally + going with friends/family); I know the sales game as I worked in the industry prior to becoming a teacher. Take your $750 cash from Ford (that is a real incentive), take the $3,000 in current rebates and find a V6 unit you want in stock somewhere close-ish. Drive there. Drive the car, look over the car, ask for the dealer sheet. You'll see they advertise/point out the "invoice" they "paid" for the car. In the lower left-hand side of this sheet, there is a box/column titled Holdback. For my $34,XXX Mustang, the holdback was just under $1000. I pushed for, and got, invoice price plus $500 of their holdback money. I purchased my car from the Ford dealer across the street from where I work, and they know me quite well. I walked in and the sales manager and floor manager came over and one asked, "So Tom, what are you stealing today?"

Be informed. A good deal is getting a car for just below invoice price plus all your rebate money (keep in mind rebates are funded by Ford, so that doesn't come out of the dealership's pocket). Find a car you like with a good assortment of options and work down. LARGER DEALERS WILL ALWAYS GIVE YOU A BETTER DEAL, AS THEY HAVE MORE UNITS TO ABSORB A LOW PROFIT DEAL AND MAKE UP THEIR NUMBERS/PROFIT PERCENTAGE ON THE NEXT SUCKER TO WALK IN THE DOOR.

Put $100 down for them to hold your car until you secure the financing the next day with your bank and go back to get the car. And don't let them put a stupid dealer sticker on your paint. Tell them to put a license bracket on your car and then promptly take it off when you get home.

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Quote:
Originally Posted by FalseShadow View Post
Hello all. I am in need of advice with a huge disappointment I recently suffered in trying to buy my first new car, a 3.7. ...
Quote:
Originally Posted by WhiteBird00 View Post
Sorry... the dealer is right in this case. ...
Quote:
Originally Posted by tommy9946 View Post
Sorry about your experience and disappointment, but there are a few things to keep in mind. ...
Hello FalseShadow,

Welcome to the forum! My name is Deysha with Ford Service.

These guys have provided great info for you (thanks, guys!). However, I won’t be able to extend your $750 offer, but I can help you locate a vehicle. PM me with the options you’d like and the ones you could live without. I’ll see what I can find for you.

Deysha
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