Deposits in Bank Escrow for Your Protection

It's bank escrow for deposits on special-order vehicles or delayed deliveries where the dealer has to obtain a car from a another car lot. Either a bank escrow, no deposit handshake deal or no deal. Do not trust
any dealer, including Ford, with holding your deposit. You could be left high and dry with your deposit gone and no car.
Bank escrow is the third party referee that holds your money deposit and releases it to the dealer when he turns over the keys to you.
Keep in mind that while Ford is the stongest American car maker, it may become vulnerable when its parts suppliers go down after Monday's GM bankrupcy. If they can't make that special order car you want, you just might wind up with your tongue hanging out. No escrow, no deal.
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That is why you use a credit card. And at the first sign of trouble, call the credit card company to dispute the charge.

Yep. It isn't just car companies either. Vacations and airlines is another.

I would protect myself from ANY business, especially GM & Chrysler.
Think, you could buy a GM today and if they didn't deliver and the dealer gets the axe tomorrow you could be SOL.
Ditto warranty and repalcement parts. Will you be able to get an alternator or water pump for that chevy in 3 years?
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credit card protection usually has a time limit.
make sure you check with the CC (lots of new rules coming) to see how long your deposit is secure and refundable upon non-delivery of the promised merchandise
h
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you guys are so smart.,..wy are you ruling the country....cancuk you suck

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Yep. You don't want to wait too long if you are getting dicked around.

Good idea. 1 ounce of prevention is worth a ton of cure.
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On 05/31/09 03:44 pm Canuck57 wrote:

How many people have a credit card with a limit high enough to buy a decent car?
Perce
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For a deposit, you only need $500 or so. With two cards, I could buy a fully loaded Escalade though.
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Depends on your credit rating and/or if are busy paying others to manage your cash flow. eg. living well with in your means has its benefits.
Plus, they don't like putting the whole vehicle on the credit card. There is aa 2% fee or there abouts. Pays enough to have someone verify the cheque. I mean they would charge the whole thing, but it is 2% off their bottom line.
Ditto buying a house. I would love to buy a home if the price was the same as cash, my card kicks me back 1% and no fees.
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wrote:

When I bought my Ford, the deposit ($500) went on the credit card.
Jeff
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Based on the defintion of "escrow" that you provided, how is the dealership a third party in which they receive the funds for "special-order car" purchase? Most people buy a Ford from a dealership, not Ford directly. Keep groping for the proper words.

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Ford isn't in such great shape. Several years ago Ford borrowed big money, while money could still be borrowed. Ford has been running big losses and that pile of borrowed money has shrunk significantly. Ford will have to pay it back. Then there's the issue of Ford's union contracts not being as good as at GM & Chrysler. Tune in on Ford later!
http://www.dailynews.com/ci_11582605
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Does this matter for this thread? Ford is not the dealer. The dealer is a different company.
Jeff

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