Any attorneys out there?

If you make the PPI condition part of the purchase agreement and if the P/S agreement clearly states that the PPI is determinative of the transaction, the cooling off period is w/o effect.

The PPI is referred to as a "condition precedent". A CP requires that what ever the stated condition is, should it not be met the contract cannot be completed and is therefore null & void..

If the condition is not met, there is not contract.

Be very careful of the wording and also make absolutely certain that your deposit is fully refundable should the PPI C/P not be met.

If the GM signs the agreement you must have the written assurance that he has the authority to bind the dealership to this condition!

Be very careful as the wording of the agreement would govern.

My advice:

1) if you have any reservations stay away from the transaction.
2) have the PPI done at his dealership
3) prevention is much less costly than the cures.
4) you might want the document reviewed by counsel prior to your signature

 

MIKE

MY ANSWER....RUN AWAY............

WHAT KIND OF FCAR AND AT WHAT DEALER...??

BRUCE


BTW, AS SAID BY THE PREVIOUS PERSON..

2) have the PPI done at his dealership"

NEVER DO THAT!! ALWAYS GO TO NEUTRAL GROUNDS ( NO DISRESPECT GCALO)


BRUCE

 

Just have the PPI done there. Meet the guy and hover around while he's doing it. That should be OK. Can't imagine it'd take more than an hour or so. Give them the money once he gives you the nod. Or, stall till the mechanic gives you a written report. I'd just try to work around all this to put the deal together.

 

what kind of dealership are you dealing with?

something smells fishy.

doody.

 

TOTALLY 100 % WRONG IN MY EYES........................

NOT AT SELLING DEALER

NO PPI TAKES AN HOUR..YOU WANT A LEAKDOWN-COMPRESSION TEST

GIVES YOU THE NOD?? WTF???

NO WAY.....RUN MAN....................

 

Don't walk...RUN!

 

A simple waiver of the "normal " conditions of a form contract (such as those used by car dealers aka: adhesion contract) would suffice.

No need for analysis paralysis here. You and the dealer can easily inital "waiver" of the No cooling off period and make it subject to a certain time period. (48 hours is normal)

Have them deliver the car to your PPI facility. Remeber that it is California law that the car can and must be delivered to an independant facility for inspection prior to sale upon request. Every dealer has it posted in their sales office. DMV requires it.

Don't over think it.

Mario

P.S. Since you are in California..I'm assuming the dealer is in California. Therefore, apply in this instance only.

 

given this CA rule, it's even more reason to run.

are you trying to buy something wildly rare? a 250 GTO or 288 GTO or Cal Spyder?

are you dealing with one of the less reputable FL dealers perhaps?

doody.

 

Remember, if you choose to get a PPI, NEVER do it at the dealership that owns the car. If they're a reputable dealership they will let you do it elsewhere. In addition, you will want the results of the PPI to negotiate price. If they won't adjust price accordingly, then walk away, and don't bother making an offer. There will be other ones you will find. Don't let them force you to make an offer without the PPI.

 

OK, good advice there. Hmm, didn't realize that it was so critical to do it offsite even if you bring the mechanic.

 

Good advice here.......

I'll only add that a PPI is not pass / fail and is subjective. I'm not sure how you would write a contract unless you had the final determination.

 

Ferrari San Francisco. 360

They seem to have a problem with me looking at the car.

 

If it is California the deal isn't done until you take delivery. So if you pay for it but don't take delivery it can be voided.

 

Very strange since this is a factory owned dealership. I cannot believe they would be trying to unload a lemon on some unsuspecting buyer. It does not make sense. There must be some other reason for their reluctance. Have they indicated why no PPI before signing the purchase agreement?

BTW a good PPI will take a lot longer than one hour.

 

I am curious as well. FoSF and the guys who work there have a great reputation. Keep us posted!

 

Maybe they don't think the guy is serious. Afterall he has been looking and looking and asking questions and asking questions, for about a year and a half

 

Agreed, but I've been reading his posts since day one, and it seems that he really wants to be sure that he is purchasing the right car, and there is absolutely nothing wrong with that. I think it was a sincere move on his part to do every bit of research and ask for rides in each car before making a purchase. After all, we're not as lucky as you =), and lets keep in mind that at the end of the day $130k is a lot of money to be spent on a toy. I was actually genuinely excited for him when I heard that he was finally ready to make his purchase, until this thread came up. I hope everything works out!

-Jon

 

i concur w/ bruce completely.....being a relatively trusting person, i committed that sin once as a gesture of good faith but never again....worse mistake i could make.

 

I find that logic to be silly (if you hit someone and the dealer owns the car). What happens if you loan me your car and I accidentally hit someone. Im the one driving. What happens on a test drive? I don't know the history here but something seems fishy. I don't know if they are suspicious of you (with good or bad reason?) or if they are not reputable- but something doesn't seem right to me.

My suggestion: if it makes the dealer feel better you can work out a contract with them where you will be fully responsible for the car when it is in your possession, you will indemnify them from any legal action taken against them arising out of your possession of the car. If you have the money to buy the car and this test is the thing that needs to be done to your satisfaction- but the money in escrow. Make all this part of the sales contract. I would not even drive the car- I would have it flat bedded to where it needs to go. You can use the flat bed company the dealer prefers.

best regards,
Jerry

 

I have heard of dealerships requiring potential buyers to put down good faith money and signing an agreement to purchase pending a good PPI, but I have never heard of a dealership attempting to do what you are claiming here.

I think that the e-mail you sent was a good idea. If I were you, I would keep the flow nice & mellow...there is no need to get nasty with anyone...all it will do is mar what should otherwise be an exciting experience.

As others have suggested here, I would propose having the vehicle flat-beded by the company of their choice to your independent PPI. At the very least this is reasonable. Of course they will probably have some paperwork for you to sign, and as always, review this paperwork very carefully. It might also help while reviewing anything they want you to sign to have the Sales Manager Present so that you may ask him DIRECTLY any question you might have & also to have him personally address any concerns you might have. This way, everything will be clear up front. If I were you, I WOULD NOT SIGN ANYTHING before speaking with the Sales Manager and making your expectations crystal clear. Remember, you can negotiate with a person, you can't negotiate with a document.

If they do not allow you to have the car flat-bedded to an independent facility, then you should walk away. ANY reputable seller of a highline sportscar should know that having an independent PPI is just part of the game, and should make concessions accordingly.

As for your due diligence and research, I applaud you. I too am in the process of having an independent PPI done on one of my dream cars (a 1988 Porsche 930). I have researched the 930's for the past two years and I have finally made up my mind to pull the trigger on the right car. There is nothing wrong with taking your time, researching, asking questions, and gathering piles of information before making a decision like this & don't let anyone tell you otherwise. In the end, do only what you are comfortable with & what you can live with.

Good luck.

 

Well not the only one:
http://ferrarichat.com/forum/showpost.php?p=134928325&postcount=14

Hey, just giving you a little nudge. I just think it'd be more fun to be driving