TVR to take deposits in 6 days time ....

[spartridge]

More info on TVR website. Looks like no ESCROW arrangement.

[AMDBSTony]

DonkeyApple said:

AMDBSTony said:

Am going to contact them today as there is simply not enough information on which to place a deposit.

Need to see and better understand the commercials around this.

I also think that it would be another 'nice' gesture to reward those of us that support the brand by owning one. With that in mind the lower deposit should extend to owners as well.

Most unfair if it doesnt.

I think everything is there isn't it?

Refundable. Secures place in queue for car.

The only clarity you would need further is on how the funds are held as that determines whether your OC is just bank interest or whether there is capital risk in addition. If the latter then I wouldn't think anyone would put cash into an Ltd with no published accounts, no revenue and questionable assets.

Sorry but I don't think that everything is there, far from it actually.

I have ordered many cars and never been asked to put such a high deposit down, especially when so little is known about a car or the company.

I think it would have been more prudent to ask those who were in a position to buy just to register interest at this early stage - maybe even ask for demonstration of cleared funds or access to funds instead of a deposit?

That would give them the same position as a refundable deposit, probably be a bit stronger as they would have evidence that the buyers were serious at least in a position to proceed. Maybe ask for a deposit when something was more tangible and also a deposit that was the same for all.

I would put money on this following the same pattern as many new cars do when it comes to having to actually put your hand in pocket time......many will drop out.

As I said, I need to better understand the commercials, especially where my deposit will be held.

Unless it is in some kind of escrow account it will never happen.

£5k is a lot more to potentially lose than £2.5k and I still think that it's unfair to give club members an advantage (they may not even own a car) over non members who actually own a TVR!

Before any comments about interest, this has nothing to do with losing a miserly 0.5% on savings. For me it is more to do with potentially losing the deposit if there isn't any safety mechanism in place - members potentially losing less than non members!

Line opens at 12 noon so hopefully someone will be able to clarify?

[DonkeyApple]

If the funds aren't seg'd as client money then I wouldn't send £1 anywhere. If it is seg then it becomes irrelevant and is just securing a place in a queue and two years of excitement waiting.

Re showing funds. I run a margin trading business and can happily say that that never works

Physical money down is the only mechanism that sifts out tyre kickers.

And I really don't see any need to be upset at club members getting a potential saving of around £50. I'd be more concerned at what seems to be a growing trend of TVR events that are only open to club members but then they probably have suffered year on year membership fee declines so you can't realy blame them for trying to get more people to join.

In reality, the TVR forums on PH are still the unofficial TVR Club and it's all free which doesn't help them.

[spartridge]

Have been advised by TVR to pay on credit card if I require deposit protection!

[chris watton]

Just looked at the TVR website - still no image of what the new TVR will look like, not even a hint!

I thought there's be at the very least an image of the car/s!

To those parting with your money for the deposit, I admire your faith!

[XK120FHC]

Lotus E300S said:

DonkeyApple said:

julian64 said:

Well because whats holding the price of saggies up. It must be the fact that its the last TVR produced by the company before it died.

In any other respect its got the same engine as tams, tuscans, and T350s and some cerbs so is no faster. Its got a better chassis for cornering but its no lotus. And its four times the price of almost any other TVR out there perhaps more.

What do you think has been justifying its price over other TVRs?

What do we think will happen if it no longer has the title of last TVR produced?

I think it's more the case that the others are far too cheap and if there is a new TVR and it sells then it'll be the catalyst for these models to move up. The more succesful this new car is and the more it brings new blood into the ownership fold then the more demand for the older models.

Have to agree with Mr DonkeyApple again and the Sag is certainly on a par with a Exige in terms of cornering and I should know as I own both,
Another thing going for it is build numbers around 200 built compared with a Cerbera with 2000+ built, also if you drive a Sagaris back to back with a Cerb the Sagaris is far better in every department.

The Sagaris along with the Typhon are the Blackpool halo cars both built in limited numbers and this alone will keep prices climbing and if not I'm still smiling as I own a Sagaris.

Back to Tvr maybe a factory visit (if one built) for potential customers would help with deposits.

I agree with Julian64, I'd expect Sag prices to fall away over the next couple of years.

Sagaris prices are high because it's the newest and considered best TVR made, pretty soon it possibly won't be anymore.
Also you'd expect quite a few Sagaris owners may be looking to upgrade to the new model so more second hand Sags could become available.
And not many people will be looking to spend £60k+ on a Sagaris when they could possibly have the new TVR for the same or slightly more money.

Over the longer term Sag prices may rise again along with all the Wheeler generation TVRs but I wouldn't expect the price difference between the Sag and other models to be a great as it is now.

[AMDBSTony]

Donkeyapple

This is all subjective, each to their own I suppose.

Disagree that physical money sifts out tyre kickers BTW.

I bought something the other day and was asked to show proof of funds.....IMO that sifts out the tyre kickers but not arguing about such a trivial point.

Suppose it boils down to your appetite for risk and more importantly whether you can afford one or you cannot - simples.

[G1ABB]

Might be worth checking if the payment is classed as a deposit. From memory shouldn't this normally have to be non-refundable? It doesn't appear to be in this case. I'm probably wrong but worth checking.

spartridge said:

Have been advised by TVR to pay on credit card if I require deposit protection!

[m4tti]

DonkeyApple said:

If the funds aren't seg'd as client money then I wouldn't send £1 anywhere. If it is seg then it becomes irrelevant and is just securing a place in a queue and two years of excitement waiting.

Re showing funds. I run a margin trading business and can happily say that that never works

Physical money down is the only mechanism that sifts out tyre kickers.

And I really don't see any need to be upset at club members getting a potential saving of around £50. I'd be more concerned at what seems to be a growing trend of TVR events that are only open to club members but then they probably have suffered year on year membership fee declines so you can't realy blame them for trying to get more people to join.

In reality, the TVR forums on PH are still the unofficial TVR Club and it's all free which doesn't help them.

Does a manufacturing organisation have to comply to any form of client money/client asset segregation....

Edit -
From spartridges post, the answer is to "pay on credit card". Seems a bit odd, if you use your credit card as a payment card, will the protection offered still apply in 2 years time? I think the whole deposit thing needed some better planning before airing suggestions like paying via a credit card. Clearly unprepared.

[pjac67]

LOL:

"Terms and conditions apply (as details in your receipt, linked above). You must not be a numpty, own a caravan, etc. etc.

WARNING! Please note, cars are dangerous and may kill you. Don’t drive them if you’re not up to it. Driving The new TVR Sportscar may cause excitement, heart palpitations, shortness of breath, blood rush, head rush and, in extreme cases, poor bladder control. May inflate the ego and make the driver more attractive to the opposite sex. Will cause bouts of anguish and envy in others."

[spartridge]

Section 75 consumer credit act applies?

From T&C:
2.1 The Deposit shall be paid by the Customer to TVR on the date of this agreement.
2.2 In consideration for the Deposit the Customer shall be entitled to purchase the Vehicle for the Purchase Price, net of the Deposit.

[PuffsBack]

XK120FHC said:

I agree with Julian64, I'd expect Sag prices to fall away over the next couple of years.

Sagaris prices are high because it's the newest and considered best TVR made, pretty soon it possibly won't be anymore.
Also you'd expect quite a few Sagaris owners may be looking to upgrade to the new model so more second hand Sags could become available.
And not many people will be looking to spend £60k+ on a Sagaris when they could possibly have the new TVR for the same or slightly more money.

Over the longer term Sag prices may rise again along with all the Wheeler generation TVRs but I wouldn't expect the price difference between the Sag and other models to be a great as it is now.

Any Sag owners chomping at the bit?

[DonkeyApple]

m4tti said:

DonkeyApple said:

If the funds aren't seg'd as client money then I wouldn't send £1 anywhere. If it is seg then it becomes irrelevant and is just securing a place in a queue and two years of excitement waiting.

Re showing funds. I run a margin trading business and can happily say that that never works

Physical money down is the only mechanism that sifts out tyre kickers.

And I really don't see any need to be upset at club members getting a potential saving of around £50. I'd be more concerned at what seems to be a growing trend of TVR events that are only open to club members but then they probably have suffered year on year membership fee declines so you can't realy blame them for trying to get more people to join.

In reality, the TVR forums on PH are still the unofficial TVR Club and it's all free which doesn't help them.

Does a manufacturing organisation have to comply to any form of client money/client asset segregation....

Edit -
From spartridges post, the answer is to "pay on credit card". Seems a bit odd, if you use your credit card as a payment card, will the protection offered still apply in 2 years time? I think the whole deposit thing needed some better planning before airing suggestions like paying via a credit card. Clearly unprepared.

I'm not sure that compliance is relevant. It's more simple than that. If your cash is going to sit on their balance sheet for two years then you'd want to know something about that balance sheet.

I would have assumed that using a basic escrow for client deposit funds to be basic marketing common sense. Especially as enough people lost deposits last time around.

Frankly, this looks like a bit of a balls up as no one in their right mind is going to shift any funds into an unproven, unknown balance sheet regardless of whether refundable as no funds would be there if the start up doesn't happen. And hearing that staff are suggesting potential customers use a credit card is the other side of moronic.

They've done very well to date but this crucial little bit is as if the old TVR management were in charge.

[shake n bake]

PuffsBack said:

Any Sag owners chomping at the bit?

Or anyone at all? I can't say I've seen anyone put there hand and say I'm in yet?

[Podie]

The lack of Escrow does seem odd, if not an oversight.

I desperately want TVR to succeed, but at present this episode has nothing more than a poor Dragpn's Den pitch about it.

[chris watton]

PuffsBack said:

Any Sag owners chomping at the bit?

I think it could be argued, and with some validity, that there are a lot of TVR's out there now which are much better than when they first left the factory, better, more reliable engines, ECU's, virtually anything and everything can be changed on these cars for new/better parts, including chassis.

If all you want (and if you own a TVR, I am guessing you do) is a lightweight car, stunning looks, no gimmicks, big engine and rear wheel drive, why would you want to get rid of what you have, for virtually the same thing? That's how I look at it anyway.

Edited by chris watton on Tuesday 7th July 13:24

[DonkeyApple]

Maybe the TVRCC will have a word. If you are being a conduit for sales as has occurred due to the deposit discount then a duty of care abounds to ensure their members have adequate and suitable protection. I would catagorically be advising anyone to only participate in such a venture if their funds were seg.

[AOK]

At the risk of having abuse hurled at me for being naive / an optimist, I have just received my receipt/confirmation via email. I reckon there must be others (especially as it took me 40 mins to get through) so they might just prefer not announcing it on here.

I used an Amex and they didn't flinch. I have also spoken to Amex and - to summarise - as I have put down a deposit for 'goods', if the goods aren't delivered their payment protection team will be willing to step in and assist.

I mentioned to the lady at TVR that I have a letter of intent with Alfa for the 6C and whether I can release the funds "at any time" towards that purchase, and she said it is not a problem and refunds can be requested at any time and will be processed within 24 hours.

Please proceed with jokes about how likely I am to see my £5k ever again...

[spartridge]

DonkeyApple said:

no funds would be there if the start up doesn't happen

Section 75 of consumer credit act...credit card company is jointly liable? I think this offers a modicum of protection but would have been moot if an ESCROW set-up had been adopted.

[T4NGO]

PuffsBack said:

Any Sag owners chomping at the bit?

All the Sag prices are pure fictional guesswork. I am not chomping at the bit for a new TVR. I got the Sag cos I wanted it. It, for me is the best looking TVR ever. I also wanted one for 10 years. The only other TVR I wanted and took ages to get was a Chimaera. So, for the new one it has to be bonkers looking and a 'poster' car, I don't care if it is or isn't light speed capable. Not many cars nowadays would you see on a wall.
So, for me the new TVR would be an addon, not a replacement. I suspect many other Sag owners would still keep their Sag also.
All the armchair experts deciding the prices of sags should have followed their own genius advice a few years ago when they were only going for 28's n 30's. If I'd have known how much mk 1 / 2 escorts would be worth I never would have bangered / raced so many... Or rather just discard them once they looked a bit battered.
Everyone has 20/20 vision in hindsight.