I'm in the process of ordering a new (production) boat
but I'm having problems with the dealer regarding the terms on the purchase
agreement. I can't believe anyone actually agreed to the original terms they are, surprise surprise, heavily biased towards the dealer. Maybe no-one ever read them
Anyway, I've got a lot of things cleaned up but one of the stumbling points is a default clause, the dealer wants to be able to charge up to 20% of the purchase price
(this comes to about $45k) to cover any expenses associated with a default and also cover any incentives they may want to offer a new buyer.
Obviously I have no intention of defaulting on the purchase but stuff happens. I realize the dealer may have some expenses to cover if it comes to this but $45k seems a huge amount to hold.
What do you think is this amount totally outrageous, somewhat outrageous or par for the course?