My Word is my Bond !! (1 Viewer)

[Brightspark]

Just need to have a rant as its been on my mind since this morning when i spoke with our dealer. In November we agreed a deal on a used 'tag' axle motorhome & our american rv was underwritten by a well known american rv dealer. We shook hands with our dealer & he phoned the underwriter to say the deal had been agreed & they stated that the vehicle would be collected the next Monday. That was over 4 weeks ago. The rv is still on our dealers forecourt & the rv dealer has now reneged on his word. Thankfully our dealer is standing by the original deal with us as we don't collect till early February.

Being past a certain age or it maybe just me, but at least my parents taught me to stand by my convictions.

Anyone else experienced this?

 

[teddybard]

Name & Shame the Swine

Just need to have a rant as its been on my mind since this morning when i spoke with our dealer. In November we agreed a deal on a used 'tag' axle motorhome & our american rv was underwritten by a well known american rv dealer. We shook hands with our dealer & he phoned the underwriter to say the deal had been agreed & they stated that the vehicle would be collected the next Monday. That was over 4 weeks ago. The rv is still on our dealers forecourt & the rv dealer has now reneged on his word. Thankfully our dealer is standing by the original deal with us as we don't collect till early February.

Being past a certain age or it maybe just me, but at least my parents taught me to stand by my convictions.

Anyone else experienced this?

As I'm sure we all want to avoid this dealer
name & shame him.
We can all do without dealers like this.
Roger:Angry::Angry:

 

[wiljoy]

Sorry to hear of your problem and pleased it appears to be sorting itself out.
We seem to be experiencing more and more crooked dealers as the years progress.
The so called NCC have introduced a set of rules for dealers to adhere to, that's a laugh.
It will end up as a subscription fee and you will receive a certificate as many trade bodies do. I cannot understand the dealer offering the brokerage deal then changing his mind, surely dealers are trustworthy to each other? If this isn't the case what chance have we, the so called punter, when we buy, none.
Just publish his name. It would be nice for a list of dealers, good and bad, to be put on a possible noticeboard withing Fun. Registered Funsters could then post there experiences without prejudice. Maybe this would cause Jim a MASSIVE legal headache.

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[yorkshirepudding]

It does seem that values have changed and not for the better. When I was in retailing I would lose money rather than go back on what I'd agreed with my customer.

 

[Peter JohnsCross MH]

As I'm sure we all want to avoid this dealer
name & shame him.
We can all do without dealers like this.
Roger:Angry::Angry:

Brightsparks dealer is standing on his deal, it the underwrting dealer that has gone 'milky' and that is in the trade and does not affect any retail sale.

Peter

 

[teddybard]

Underwriter

Brightsparks dealer is standing on his deal, it the underwrting dealer that has gone 'milky' and that is in the trade and does not affect any retail sale.

Peter

Ok Then publish details of the Underwriter
maybe if the trade knows of him at least the real ones will avoid him.
:Angry::Angry:
I'm sure none of us want even the chance of dealing with him.

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[teddybard]

Underwriter

Brightsparks dealer is standing on his deal, it the underwrting dealer that has gone 'milky' and that is in the trade and does not affect any retail sale.

Peter

Ok Then publish details of the Underwriter
maybe if the trade knows of him at least the real ones will avoid him.
:Angry::Angry:
I'm sure none of us want even the chance of dealing with him.

Roger:Angry:

 

[Peter JohnsCross MH]

Sorry to hear of your problem and pleased it appears to be sorting itself out.
We seem to be experiencing more and more crooked dealers as the years progress.
The so called NCC have introduced a set of rules for dealers to adhere to, that's a laugh.
It will end up as a subscription fee and you will receive a certificate as many trade bodies do. I cannot understand the dealer offering the brokerage deal then changing his mind, surely dealers are trustworthy to each other? If this isn't the case what chance have we, the so called punter, when we buy, none.
Just publish his name. It would be nice for a list of dealers, good and bad, to be put on a possible noticeboard witThe hing Fun. Registered Funsters could then post there experiences without prejudice. Maybe this would cause Jim a MASSIVE legal headache.

Here >>Link Removed

Peter

 

[haganap]

can someone explain this "underwriter" business please, or how this deal was meant to work?

Thanks.

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[martin1485]

can someone explain this "underwriter" business please, or how this deal was meant to work?

Thanks.

It happens in the motor trade quite a lot where a part exchange on offer to a dealer is sold on or "underwritten" at a trade price at the time the first deal is being worked out. This can take the form of a phone call whilst you are there or they could get back to you. Either way, the retailer knows that they can move the vehicle on at a set price which is often where they will "stand it in" on their books. That price is then the starting point to add any over allowance out of the profit of the vehicle that you are interested in to sweeten and hopefully conclude the deal.
It all goes wrong as in this case however, when the trade do not "stand on" the price that they originally offered to underwrite the vehicle for. At least in this case, the retailer is an honourable trader and is still going through with the deal.

 

[Peter JohnsCross MH]

Martin has given a very clear explanation of what an underwrite is. It normally only happens when the p/x is not wanted for retail stocking.

In this case it looks like an RV is in P/X which most dealers would not want to stock.

Peter

 

[Brightspark]

Yes the rv is/was the part exchange & its not the 'normal' type of vehicle that our dealer would stock thats why it was underwritten by a specialist rv dealer who knows his market. Unfortunately he is not an honourable dealer, but thankfully our dealer is.

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[Brightspark]

Here's an update albeit 2 years after the event. My old rv which was the p/x in a deal for our present 'tag' is now advertised by the underwriting dealer who went back on his word at the point of sale.

It's a joke as he has it priced the same as it was when we purchased it from him over 4 years ago.