Anyone's dealer make them sign an agreement not to sell the car within X months?

[eriegz]

Just got sent all my pre-purchase documentation from my dealer today, and was surprised to see they want me to sign a document stating I will not sell the car within the first 12 months of ownership.

There's also a first right of refusal agreement saying they reserve the right to match any offer I may get on the car during the first 2 years.

Anyone else on here had to sign something similar?

 

[Atlantis Blue Emira]

Just got sent all my pre-purchase documentation from my dealer today, and was surprised to see they want me to sign a document stating I will not sell the car within the first 12 months of ownership.

There's also a first right of refusal agreement saying they reserve the right to match any offer I may get on the car during the first 2 years.

Anyone else on here had to sign something similar?

wow

nope, haven't heard of this

seems illegal, but I am not a lawyer

do they think they are a Ford GT...lol

guess they can do whatever but seems suspect

 

[Type131]

My car is will arrive at the same time as Eriegz at the same Canadian dealership. I also received the pre-purchase documentation today including this ridiculous right of first refusal document. I am gobsmacked that the dealership is trying to pull this stunt. Have other Canadians been forced to sign these? Can the dealership refuse to sell me the car if I don't sign the rofr? If so can they hold my original deposit?

 

[digilotus]

I think its best you seek some independent advice about that.

 

[themeatbaron]

My car is will arrive at the same time as Eriegz at the same Canadian dealership. I also received the pre-purchase documentation today including this ridiculous right of first refusal document. I am gobsmacked that the dealership is trying to pull this stunt. Have other Canadians been forced to sign these? Can the dealership refuse to sell me the car if I don't sign the rofr? If so can they hold my original deposit?

I deal with an Ontario dealer and I'm still months away from delivery (fingers crossed) but I haven't had any discussion like that at all.

 

[Lotustoronto]

Just got sent all my pre-purchase documentation from my dealer today, and was surprised to see they want me to sign a document stating I will not sell the car within the first 12 months of ownership.

There's also a first right of refusal agreement saying they reserve the right to match any offer I may get on the car during the first 2 years.

Anyone else on here had to sign something similar?

Very common in the Canadian Porsche world (during COVID) - especially GT cars (GT3, Sport Classic, limited editions etc.) Not all dealers do it, but I believe this practise for the most part has been dropped. You can refuse to sign it, but they can't refuse to sell you the car if you already have a signed contract. It's a bit ridiculous dealers are still trying to pull this stuff as if we are in the pandemic and there is a car shortage. For the most part, unless it's an extremely limited car (Some Ferrari's, AM Valkyrie, Ford GT, Certain 911 variant) this makes no sense. Certainly not for a Lotus being compared to 718 Cayman's lol. Wild! (MAYBE if it was the Evija.... but even then, it's not like there's a waiting list to buy one haha!)

 

[wuster]

Wow... Haven't seen this. My dealer did not have this requirement. But wonder how enforceable or what recourse they would have even if you breached / didn't honor agreement.

 

[Fasttoys]

They are idiots, if You sell the car before times up find a friend that says they will pay 50k over MSRP. Then share the offer and if they want to match it let them buy it back. Dopey dealers.

 

[RoryBellows]

Just don't sign that form. If its attached to another form you need to sign redline it and initial the cross out. Make copies of everything you send them.

Better yet, redline in a clause that they will pay double the value of any offer received .

 

[Gprodigy]

Interesting.. the CyberTrucks made this popular again...I believe if you sell a cyber truck within the first year its a $50k pentality. This keeps the demand for the car extremely high, but it's strange that Lotus would introduce such a thing AFTER ppl have already placed cars for sell online. It doesn't seem like a dealer wide practice, keep us posted on what happens if you say no.

Most of the current sellers are ppl who couldn't get their deposits back, at least make refunds an option. If they want to start doing this.

 

[Fasttoys]

The Z06 Corvette has a contract for 6 months, if sold before warranty is voided for next owner

 

[ManOfSteel]

Just got sent all my pre-purchase documentation from my dealer today, and was surprised to see they want me to sign a document stating I will not sell the car within the first 12 months of ownership.

There's also a first right of refusal agreement saying they reserve the right to match any offer I may get on the car during the first 2 years.

Anyone else on here had to sign something similar?

If the "no-resale" agreement wasn't part of your non-refundable deposit paperwork I would challenge it. I don't know Canadian/Provincial law, but I would seek council to see if it's legal / enforceable.

 

[Neb]

I was told the same thing from my dealer. I don’t plan to sell, so doesn’t really matter.

 

[Time2Fly]

It's a way to curb flipping, on that front I absolutely support it. On the other hand, nothing stops the dealer from marking it way up which is just as bad as flipping it.

 

[EspritGuy]

It's a way to curb flipping, on that front I absolutely support it. On the other hand, nothing stops the dealer from marking it way up which is just as bad as flipping it.

That would be the 'sell FE 1.0 cars sitting unclaimed at FE 2.0 prices as the current going rate' thing..

 

[Time2Fly]

@EspritGuy that's also pretty scummy. People should name and shame these dealers.

 

[Lawww]

I am going to pickup the Emira today (14th May) and i was told this crazy policy from the dealership last week. I was asking for deposit refund that I placed back in 2021, they refused to do it. My son was born in 2022 and it’s no chance for me to drive a 2-seater for my situation. So I was forced to process the purchase. Now they said I cannot resell it within one year which is ridiculous!

 

[Blackthought_]

I am going to pickup the Emira today (14th May) and i was told this crazy policy from the dealership last week. I was asking for deposit refund that I placed back in 2021, they refused to do it. My son was born in 2022 and it’s no chance for me to drive a 2-seater for my situation. So I was forced to process the purchase. Now they said I cannot resell it within one year which is ridiculous!

How would they know that you sold it?

 

[dgrace]

I am going to pickup the Emira today (14th May) and i was told this crazy policy from the dealership last week. I was asking for deposit refund that I placed back in 2021, they refused to do it. My son was born in 2022 and it’s no chance for me to drive a 2-seater for my situation. So I was forced to process the purchase. Now they said I cannot resell it within one year which is ridiculous!

What happens if you do? And how would they know?

 

[Lawww]

How would they know that you sold it?

Yes that’s what I am wondering. Unless they keep checking on website and see who’s selling, or until new owner go to dealership for service or register. I just went to pickup the Emira, and I don’t see they give me any document that restrict for resell within one year.