Anybody ever heard of having to pay a non-refundable deposit?

[BigSwick]

So we sold the fifth wheel a while back and are looking at an Image TT. We look at one in Tampa, and couldn't reach a deal. Saw the identical model in Jacksonville
and emailed for their best price. They beat Tampa by quite a bit, and said to make an offer. We offered, they accepted with the condition of a $5K NON-refundable deposit and we finance through one of their lenders. We were planning to pay cash. Savings of $1500 over their initial offer. We have seen the same model RV in Tampa, but not the one they have in JAX. It is new. Is this common to pay a non-refundable deposit? It is a major dealer.
And their are no prepayment penalties, so we plan to pay it off ASAP.

[Hoopy Frood]

No way would I ever make a non-refundable deposit of more than $50. And even that I'd have consider long and hard. A $5,000 non-refundable deposit, and have to go through their lenders? Not a chance. Keep looking, or let them know you're serious, but not stoopid.

And there may be no penalties for early payoff, but there's likely to be fees buried in the paperwork.

[Najataagihe]

Run away!!!

[SGT ROC]

I have never heard of a non refundable deposit for anything like this. Doesn't mean it's not out there somewhere, but I wouldn't do it. That's crazy! Ask them what they are thinking and tell them no to the deposit. Still interested in the rig, but no way on the deposit!.

[Ynot4me2]

I haven't seen that, and I'd be hesitant on the non refundable deposit. Maybe up to $500 but not $5000. As for a better price when financing, we were told the same thing. I think it was a $1,000 difference. But they said it was an open loan with no penalties for paying earlier. We paid it off in 2 payments.

[ajg617]

Yes - Grand Design dealer in Vermont (at least a former one) wanted $10K non-refundable deposit to order a Solitude. Did not buy there. Went elsewhere and put a refundable $500 down.

[Scott'n'Wendy]

They obviously want to know you are serious...but..$5K.....seriously????.....It would have me questioning their business. Seems a bit shady.

[Riverbug]

Nope. Wouldn't do it. That's too much to put on the line especially with a dealer you're not familiar with. Even if you were familiar, that's just a bit too much for my taste.

[Bruce M]

I'd kick rocks

[huntindog]

I did a 5K deposit on my Momentum.
It was a special order unit with options that most dealers would not carry. And I was paying cash.
We got a great price, and was able to sell our old TT for more than we thought we'd get. A 2010 Palomino Sabre 30BHDS we paid 24K out the door for it new, got 15,500 for it in 2020.

5K for a dealer stock unit does seen excessive.