RV.org

RV Ratings Independent Nonprofit
Rating RVs for over 20 years
                                                                                                                                  
image



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



We Rate RVs
image
Your Comments
Please give us your comments about the
article appearing on this page. We want
to bring you the type of information that
you want and need. Thank you!


Name

Company (optional)

Phone (optional)

E-Mail


Found Us Where?

Comments about article: