An Emotional Deposit

In his book How to Select, Inspect, and Buy
an RV, JD Gallant explains that a deposit is
an amount of money placed in good faith on an RV
when the terms of purchase have been specified.
The deposit secures the unit for the buyer for
an agreed-upon grace period but, by itself, does
not constitute a commitment to purchase
even though some sort of contract has already
been signed.
We advise RVers, especially first-timers, to
exercise caution and take their time
before any money changes hands or they sign
anything. For example, beware of rushing to
make a deposit on an RV you see at a show. The
salesman will be all too eager to "reel you in,"
claiming "you'll never get it at this price
again." However, it's highly unlikely that if
you were to come into the dealership a week or
so later offering to pay the show price for the
same model you saw at the show that they'd turn
you down especially when you're talking
six figures. Salespeople have emotions, too, and
they're just as excited about making the sale as
you are about owning the RV of your dreams.
Emotional buying is a serious pitfall for the
RVer. You're dazzled by a walkthrough and you
rush to put down a deposit, perhaps committing
yourself without further ado when the paperwork
goes through. Sometimes it's a marriage made in
heaven but, too often, it becomes a headlong
plunge into a world of trouble.
One couple we know of fell in love with a
trailer they saw at a show, plunked down a
deposit, but changed their minds a day later.
Then, reversing that decision, they called the
dealer to say they still wanted the RV. After a
week or so and some expensive repairs on their
truck, they found it wouldn't work as a tow
vehicle for the trailer they'd selected, and
they couldn't afford both the trailer and a new
truck. They then cancelled their order,
requesting return of their deposit. It turned
out, however, that the dealership had already
ordered the trailer from the factory and it was
on its way with all the attendant shipping
charges. The dealer declined to return the
deposit but offered the couple a credit toward
the purchase of another RV in the amount of
their original deposit.
Who was in the right? Perhaps Mr. & Mrs. X
should have allowed the dust to settle before
jumping into a purchase without first having
thought it through; or, perhaps the dealer
should have waited for the full 72 hours to
elapse before placing a factory order.
Mr. and Mrs. X lost significant dollars and the
dealership was stuck with a trailer for which
they had no immediate prospects. This is the
type of situation that can occur when emotions
rule the cat-and-mouse game of buying and selling.
Please consult both of JD Gallant's, How to
Select, Inspect, and Buy an RV and How to
Outwit any Auto, Truck, or RV Dealer Every
Time for expert step-by-step advice from the
moment you set foot on the lot to closing the
sale. Always think your purchase through first,
do your research, and make sure the vehicle
really suits your needs and budget. And when you
visit a show or a dealership, leave your
emotions outside the door and your checkbook at
home.
RVCG Staff

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