Found a better deal.. Next steps?

Hi All!

On Thursday I signed a lease agreement for a 2024 Silverado (they did not run my credit yet) and left I a $579 deposit via credit card.

The car is enroute and will not arrive until the end of the month.

On Saturday, another dealer I had put an inquiry into reached out to me and offered me $549 (same terms, first payment only) anddddd they have the car right now so I would not have to wait for it.

Obviously I would like to go with the $549 and pick up the new truck right away.

What do I do? Can I get out of what I signed? Any advice would be very appreciated.

Thank you!

Same specs? How much of discount what model?

What does the document you signed state regarding refunds?

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The bottom says
“CASH OR CERITFIED CHECK ONLY
THIS ORDER NOT BINDING UNTIL ACCEPTED BY MANAGEMENT
DEPOSITS ARE NON REFUNDABLE ON ALL APPROVED AGREEMENTS”
(I used credit card)
(Its signed by SM)

Same exact model.

Silverado LT (2FL), same color, same rims, exact same truck.

Not positive on each discount but:

Exact same car at dealer 1 (deposited)
$579 sign and drive

Exact same car at dealer 2
$549 sign and drive

Based on the contract, I assume you cannot get out of the deal, unless it doesn’t fund or something. But, I am not a lawyer.

(Edit: I re-read the language of what OP posted and made another post)

Check your message

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Should I ask dealer 1 to match dealer 2?

Should I lose my deposit? Even with losing the deposit, dealer 2’s offer will still save me in the long run.

Do you simply have an order for a car or an actual sales contract?

Is it possible to sign a lease agreement w/o running credit? How can they know which tier you are or if you would even qualify for a lease w/o running credit?

Sounds to good, have a feeling when its time to sign, the violin begins

Here is what I signed

It says deposit, everything else is blank. Should say amount due/cash due at signing

To get this payment with ny tax, your looking at 3-4k out of pocket including your incentives

Based on what?

Silverado crew cab 4w LT…. 60k msrp

OP, you signed a buyers order, not a lease contract.

It wouldn’t even be possible to sign a contract for a car that isn’t physically there.

You can back out of this deal, as for the deposit, just try to get it back, ask nicely, ask nicely again to someone higher up, argue nicely, argue less nice, in that order.

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Assuming what a payment could be just based on MSRP, that’s not helpful.

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Good News, I was able to get the refund and they were very nice about it. I had another car that I was trading in elsewhere (they did not want it) and I just said that that trade fell through and I couldn’t proceed with their deal. They were more than kind about it and refunded the deposit. I am grateful.

I will post my new deal in SIGNED.

Thank you!

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I think NY doesn’t allow non refundable deposits in general….

Common misnomer, that’s not true

According to the New York Attorney General’s office:

“Many consumers mistakenly believe they are entitled to a refund of their deposit if they decide not to buy a car. However, there is no right to cancel a contract, unless the dealer fails to conspicuously post the refund policy. If the dealer assists you in arranging for financing and you have not picked up the vehicle, you may cancel at any time prior to signing a finance agreement and receive a full refund.”

The form signed by OP also mentions the ability to get a refund prior to signing the finance documents. So when dealer arranged financing is involved, it appears that the general rule of no refund is not applicable until the financing documents have been signed.

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