Something missing here. First, how can anyone guarantee a trade in value for a car for 3-4 months?
If you were given a trade in value, you should have traded in the car on that day....not three months later! During those three months your car got older, you put more miles, and the world economy has changed!!!! Something here is not quite right.....
abe

 

When I bought my wife's Cayenne, we had a 3 month wait for build and delivery. The contract was written with my trade-in value locked. In fairness, we took the average monthly depreciation and deducted 3 months from the current trade value. They didn't want to do it this way, but it was my required condition to make a deal and they wanted the deal so they took it. All in writing on the contract. Everything worked out fine.

 

It is a binding sales agreement with the NEW car sale price. but they should have said how long they would have held the trade in value for you or have given you the option of pre-trading it.

It is unfortunate for you both. You have a bad taste with the Porsche Dealer and they have lost a Potential Buyer.

 

this dealer [ruznak TO] is worth avoiding in my experience; numerous times they baited and switched me or refused to honour agreements. i no longer do business with them in any form.

examples bringing them service biz on my last 997 gt3:

i needed new tyres and asked if they would like to match tyre rack prices to get the biz... of course we will, or but that was for 3 tyres from them and 4 from tyre rack... ohh we made a $450 mistake and on and on

the used car dweeb is a shyster and has no authority; he was probably overruled by the GM and reneged to cover

they are FOS

 

That's unfortunate it has to be that way. Perhaps you ought to drop the GSM or GM a email.....He may not be aware of this treatment of his dealerships clients....

 

I think the OP has let it go. Unfortunately, everyone else here doesn't seem to want to let go.

 

Same thing happened to me years back on a new M3. Most of the dealer staff was out to a funeral so only a new salesman & a manager were there when I made the deal. The salesman agreed to my price & the trade value of my BMW so I ordered the car. The salesman & I both signed the contract but the bottom of the contract stated the agreement was not valid unless signed by a manager (so I had the salesman get the managers signature). The car would take about 3 months to build).

A few weeks later I get a call asking me to bring in the car for the trade even though the M3 wasn't in. I told them no thanks. They knew the brake light was on so they asked if I was going to have them changed (told them no). A few days later they said to bring the car in & they would give me a new BMW loaner.

 

This is a case of buyer's ignorance. No one would ever be expected to keep the car for 3 months, drive it during an economic depression, and expect the dealer to give a price from 3 months back. You should have known better and given up the car then and taken the bus or rental car.

Should I ask fidelity if they will sell my GM shares at the July closing price?

Why do so many people have this mentality that they deserve the best deal on the planet and then question when it doesn't happen.

 

Please let us know if you are successful with your "GM shares" request.

 

Bull****. If the trade in value is on the paperwork then it is every bit a part of the deal as the sales price on the new car. The dealer is crap and doesn't deserve the business. I hope they sit on the car.

Fortunately the OP already has a great car and would have better peace of mind driving it than driving a new car that he got screwed on.

It's really no different than negotiating a price with a down payment then being told the dollar value has dropped so you need to put more money down.

 

Thats precisely it. Unless there was a firm purchase price for your old car in writing you have no recourse. I would seriously doubt that the price of your new car would change if it was in writing; and even if it had, the contract surely must explain this possibility and give you the choice to opt out.

If you have a firm contractual agreement for both the sale and purchase prices thats the only way you (and your attorney) have any legs to stand on here.

I'm with the others on this. Why would you ever trade the car in? Nothing personal but I think thats the lazy man's approach unless you have money to burn. And if you did then you would have said nothing of the economy in your post and this would be about the principle of the matter not the extra cost to you. I think you should carefully re-read your contract. Worst case you negotiate on price, sell your car on your own and probably willl come out ahead.

Good luck!!

 

In Ohio, the sale tax is based on the difference between the new car price and the trade in price, so I always trade the old car in. To avoid the above problem, I have the dealer guarantee me a trade in price of what we agree the car will be worth in 3 month with normal wear and tear or the price I can sell the car for privately (and bring him the buyer)

 

I too find it difficult to believe that the dealer would have signed a contract that included a trade-in value fixed for 3 months with no out or wiggle room in the contract language.

BUT if the dealer really did make such a deal, and the contract language is clear, I think you'd stand a pretty good chance of prevailing if you took him on with a lawyer. I'd imagine a letter from a lawyer might suffice. You didn't mention anything about a deposit. If they took your deposit on the new vehicle as part of the deal, I think your chances would be even better since there would be partial performance on the contract - making your claim even more robust.

 

I don't know about the U.S. but, here in Canada, the trade-in price is routinely negotiated at the time the new car is ordered. Without knowledge of the trade value, the purchaser can't make an educated decision about the deal as the dealer will typically manipulate values on both sides so as to reach an agreement. In the past, I've routinely driven the trade-in car until the new car arrives (which can be months later). The agreement specifies that the trade-in car must be in the same condition and a limit is set as to mileage (typically about 2000 km per month from the date of the agreement). If I were not allowed to continue driving the trade-in, I don't know how I would get around until the new car arrives. While the value of used cars has certainly dropped, both parties have assumed a risk in signing the deal (what if used car prices had increased?) and the agreement is binding. I would involve PCNA.

 

i am not really sure what happened here, but i can give you an example of a similar situation where both the dealer and myself acted honestly and things worked out well. in august of 2008 i entered into a contract with manhattan motorcars to purchase a 2009 turbo that they had sitting in the port. they also agreed to take my trade, a 2008 c2s at a given price, a very strong price. i couldn't pre trade it in because i was slightly upside down on the loan and i didn't want to pay the amount that i was in negative equity early. then a complication occured-the cars weren't released from the port for 2 more months due to epa issues, and at the same time the economy collapses. my car had 2100 miles on it, so the dealer told me if i would put the car in my garage and not drive it, he would give me the agreed upon trade in when the cars get released. i gave him a $1000 deposit and about a week before the cars were released, i looked at the contract and realized that the dealership had never signed it. i told myself that there was no way, after the market collapse, that they were going to give me the agreed upon trade in ($6000 less than what i paid for it when i bought it new). i called the dealer, was ready to be told that i could forget getting a discount on the turbo (which they agreed to give me in august) and the trade in price-i was pleasantly surprised to find that the salesman from manhattan motorcars said that we had a deal, that their used car guy was not happy about the trade in, but that they would keep their part of the deal if i didn't add any more miles to my car over the last 2 months. i didn't, and 1 week later the turbo was released the deal was completed. both of us acted honestly, especially them. this is an example of things winding up okay. obviously, the dealer had a turbo that they wanted to sell-i was a live buyer who had approved financing and it ws also in the dealer's best interest to get rid of the 135k car.

i hear what the previous poster is saying-if he really had a signed contract from rushnack agreeing on a sales price of the car and a guaranteed trade in price on his car, than it is open and shut-if they won't do the deal, he should just get an attorney. if the contract isn't as i stated, then he must depend on the dealer to back up their deal. the question is-did they guarantee the trade in until his new car was delivered in writing? if they did, end of story. that is my question to the poster-do you have a signed contract where they guaranteed the trade in until your car was delivered?