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Truck_Buyer

New Member
Jurisdiction
Wyoming
The Dodge TRX is my dream truck. I decided to preorder a custom build in September 2020 and went to the local dealership to complete the order. I selected my specifications and paid a $500 deposit on a $92,000 vehicle. It is almost May and I decided to go into the dealership to get an idea about my trade in value. The salesperson filling in for the one I originally talked to informed me that there is a $10,000 premium on all TRX's. I explained that I already agreed on a price of 92K and it isn't fair to raise the price after I have been waiting for so long to purchase this vehicle. I was told that if I decided not to buy it at 102K, someone else would.

The salesperson who originally took my order called me and let me know she does not agree with the new policy but there is nothing she can do. Apparently it was implemented in January.

If I walk away from this deal, it will be another year on the wait list for this vehicle. What are my options? Do I have any recourse if I go through with the deal and then file a small claim? Does this fall into the advertising portion of reg Z since I was given a price quote that later changed... "because of high demand?"
 
The only way you'll have any recourse is if you have a written contract that locked in the price no matter what. Do you have one that says that. I'm guessing not. Whatever "quote" you do have, read it, as I suspect there are likely disclaimers in it.
 
Was there any paperwork that was signed when you made the deposit?

A quick search of the web shows used (but with very low mileage,1k miles all selling >$100K.)

P.S. It still freaks me out that there are pickup trucks that cost more than my first house.
 
Truck_Buyer said:
I already agreed on a price of 92K
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Do you have a contract in writing specifying that you'll be paying $92k and exactly what you'll be getting in return?

Truck_Buyer said:
What are my options?
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Depends on the terms of whatever written agreement relates to this transaction.

Truck_Buyer said:
Do I have any recourse if I go through with the deal and then file a small claim?
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The small claims limit in Wyoming appears to be $6k.

Truck_Buyer said:
Does this fall into the advertising portion of reg Z
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According to the Consumer Financial Protection Bureau of the federal government, Regulation Z "protects people when they use consumer credit."
 
PayrollHRGuy said:
It still freaks me out that there are pickup trucks that cost more than my first house
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My friend, there are cars that cost more than a home and it's furnishings would cost the average hard, working person these days.

Welcome to the nightmarish world of the 21st century.
 
PayrollHRGuy said:
But a mass-produced pickup for $100k. I'd love to see the repo rate on those.
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I suspect the repo rate should be about the same as for a $40-50K vehicle.

That presumes, of course, that the lender does it's due diligence.

Once the novelty wears off, I predict sales will plummet.

After all, inflation is coming to the wallets of most consumers in the very near future.

It can be seen on the shelves of your local grocer, as well as on the huge signs outside of gas stations.

Along with inflation, we'll soon see a contraction of wages, as well as reduced work forces, despite certain rosy hiring metrics at the government level.

Prepare for a very stormy fall and as a certain politician has often said, "dark winter".
 
army judge said:
After all, inflation is coming to the wallets of most consumers in the very near future.
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Though this is WAY off topic I really don't understand why the dollar has any value today. Considering the massive bailouts and other assorted federal handouts that happened the dollar should be worth a bit what a dime was worth at the time.

And keep in mind my I've got an Econ degree on the wall. I don't feel too bad about my ignorance because one of my Phd holding professors I talked to back in 2012 felt the same way.
 
PayrollHRGuy said:
Though this is WAY off topic I really don't understand why the dollar has any value today.
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There are those that claim the gold reserves help sustain our dollar's value.

The ability of this nation to develop, innovate, and lead the way aceoss many sectors is also said to help.

Finally, our medical, rehabilatative, educational achievements gave also helped create our nation's wealth.

Our oil and natural gas reserves and other natural minerals have also helped.

The dollar may soon be replaced by the Euro as the monetary standard for trade and banking.

We'll have to just watch and wait to know what happens long term.
 
army judge said:
The dollar may soon be replaced by the Euro as the monetary standard for trade and banking.
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And that will crush our economy. Personally, I think it is the size and power of our military that has kept the dollar from crashing. I don't think any other country wants to see what we might do in such a situation.
 
PayrollHRGuy said:
And that will crush our economy. Personally, I think it is the size and power of our military that has kept the dollar from crashing. I don't think any other country wants to see what we might do in such a situation.
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Right.

"Walk softly and carry a big stick." Theodore Roosevelt
 
PayrollHRGuy said:
And that will crush our economy. Personally, I think it is the size and power of our military that has kept the dollar from crashing. I don't think any other country wants to see what we might do in such a situation.
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The dollar is not going to be replaced by the Euro as the main world reserve currency in the immediate future, if ever. And even if that does occur, it wouldn't crush our economy. Indeed, plenty of economies do quite well without being the main world reserve currency. Rather, what that change would do is lessen some of our international political clout since things like financial sanctions that we like to employ only really work well because the dollar is the main reserve currency, giving the Treasury far more reach than it would otherwise.
 
Opinions, everyone seems to have an opinion.

I don't know if the Euro or the Yuan become "top currency", or if the US Dollar retains it's "title" belt.

I only know the bulk of my liquid resources are being held in a secure, safe, secret location.


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China's Plan to Replace the U.S. Dollar with the Yuan
 

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