View Full Version : Minimum Deposit seems to have gone up!
SkiRideDrive
06-16-2013, 07:57 PM
Well, while I was teetering on the fence whether to put down the $100 deposit (I am having trouble deciding between the S and R version and when I would want to take delivery), the minimum deposit seems to have gone up to $1,000. Looks like I might wait a bit longer as $1,000 is a bit harder to swallow.
http://www.factoryfive.com/order-a-kit/818-order-form/
One other thing I noted, it looks like the pre-order form asks which year WRX your donor is. I wonder what parts they are changing based on that option.
Oh and I wanted to mention the pictures from the open house look great. Thanks for sharing everyone.
07FIREBLADE
06-16-2013, 08:10 PM
Thats because they are into production mode now. I placed my pre order 2 months ago amd it was still 100. Good luck with your decision.
Benji
06-16-2013, 08:30 PM
Yes it was most likely a pre-order deposit special.
Wayne Presley
06-16-2013, 08:34 PM
It's the same as the rest of the kits now since it is no longer a preorder but in production.
Silvertop
06-16-2013, 11:05 PM
It's the same as the rest of the kits now since it is no longer a preorder but in production.
I'm pretty sure that FFR will be asking even those of us who paid the $100 preorder fee to pony up at least the remaining $900 when we order our cars for real as our production dates get closer.
bstuke
06-17-2013, 07:17 AM
Precisely why I originally went ahead and sent them $1K...
Mike N
06-17-2013, 07:21 AM
Anyone know what the current lead time for delivery is if you ordered today?
blueoval_bowtie_guy
06-17-2013, 07:29 AM
Factory Five is not a company you have to be concerned about losing your deposit. Many kit/component car 'manufacturers' have gone under in the past and taken deposits with them. If, on the other hand, it is difficult to come up with the deposit, it is probably time to seriously consider whether you have the cash reserves to build the car. You can't take out a car loan. The only type of loans possible are either an unsecured (i.e. high interest rate) or a home equity loan. Generally speaking, it is not a good idea to finance a toy (the 818 is a toy).
Wayne Presley
06-17-2013, 08:09 AM
Anyone know what the current lead time for delivery is if you ordered today?
Mike, I heard at the Open House orders today would have a production date of Aug 2014
blueoval_bowtie_guy
06-17-2013, 08:37 AM
Mike, I heard at the Open House orders today would have a production date of Aug 2014
That is GREAT news for Factory Five! Only in production for a few days and they already have over a years worth sold!
Wayne Presley
06-17-2013, 08:42 AM
Preorders started last November and they had 270 on the Friday before the open house
Silvertop
06-17-2013, 08:43 AM
That is GREAT news for Factory Five! Only in production for a few days and they already have over a years worth sold!
It is very good for them. Although the backlog is mostly due to FFR's decision to offer a preorder program during last fall's SEMA show. I'm guessing that this car is going to be very popular, so it may take them a while to shorten down that lead time!
Mike N
06-17-2013, 08:48 AM
Mike, I heard at the Open House orders today would have a production date of Aug 2014
Thanks Wayne. I am kicking myself for not jumping in as soon as the pre production orders were opened up. Now I am considering holding off for the first major update which will hopefully include a hardtop.
timmy318
06-17-2013, 08:50 AM
It is very good for them. Although the backlog is mostly due to FFR's decision to offer a preorder program during last fall's SEMA show. I'm guessing that this car is going to be very popular, so it may take them a while to shorten down that lead time!
Once the car starts getting on the road and more and more people see it I can also guarantee it that orders will spike. I'd say that if you can find the $1K for the deposit I'd do it if you can make the extra $9K work without taking out a loan. Once it takes off, no telling how long FFR is going to be backlogged with orders (one of the few times I like seeing a company backlogged, that is, unless you want the product :p)!
PhyrraM
06-17-2013, 08:56 AM
Unless Dave is willing to sacrifice profit for exclusivity I cannot see FFR living with a 1 year plus lead time for very long. I'm sure that the plan included expansion if this sort of thing happened. I'm sure FFR has an idea of how many orders will drop off, or never sign up, because a year is a very large amount of time.
I expect a lot of $100 per orders to drop out when it's time to cough up the rest of the deposit.
While the backlog is sizable, I suspect that production will ramp up as well.
sanddan52
06-17-2013, 11:31 AM
What do you all think it would cost to buy a year 2013 spot on the list? I only recently heard about this new car and would hate to have to wait over a year to even start building. (just turned 61 and no time to waste) :)
David Hodgkins
06-17-2013, 11:43 AM
sanddan it's not possible to buy your way onto the list. Spots are non-transferable.
The best you could do is offer to buys someone's kit after they take delivery.
:)
Mechie3
06-17-2013, 11:44 AM
You can't transfer your spot on the list. It's been stated a few times and was on the preorder form as well.
sanddan52
06-17-2013, 03:42 PM
sanddan it's not possible to buy your way onto the list. Spots are non-transferable.
The best you could do is offer to buys someone's kit after they take delivery.
:)
Bummer :(
The 818 is for my son and I to build, but we will be glad to sell you our kit, after it's delivered in the fall. You will get it this year and we can build a roadster instead. $20k or a the complete roadster kit in trade! :)
mofpa01
06-17-2013, 06:21 PM
Wow, it's great that Factory Five has so many pre-orders, but having to wait at least a year for those ordering now...
I know space is a limiting factor, that they have only room for making so many kits at a time, but if were management, I would be considering setting up an additional frame jig and body panel molds. Investigating shifting resources around. Temporarily halting production of the other models for a period. And no, I'm not saying completely stopping making the other models, just stopping the production of the GTM for 6 weeks, then the Coupe for 6 weeks, etc., and then start the cycle all over again, until the initial surge levels out.
The 818 has really grown on me lately, my original plan was to do another Hot Rod, but the last few days I have been swayed. Friday night actually started scouring the Internet looking for potential donors. Upon reading about the wait time this morning, definitely took some wind out of my sail.
Paul
Mechie3
06-17-2013, 06:29 PM
It wouldn't make sense to make a second jig just yet. They know they have orders, they know people will wait. Maybe not everyone, but enough. Those that don't wait will have their spot filled by someone else. As these cars hit the streets, demand will only go up.
Rather, they should wait until several cars are built, figure out what needs to be refined before making another set of tooling. I don't know if they make the fiberglass in house, but if they do, it's certainly a time consuming process (and a profit reducing process) vs thermoformed panels. We don't know what the current bottle neck is. FFR might also need to rebuild their cash reserves. Dave did mention that buying out his brother's share of the company took considerable resources. The new laser cutter also took considerable cash.
bstuke
06-17-2013, 07:10 PM
Wow, it's great that Factory Five has so many pre-orders, but having to wait at least a year for those ordering now...
I know space is a limiting factor, that they have only room for making so many kits at a time, but if were management, I would be considering setting up an additional frame jig and body panel molds. Investigating shifting resources around. Temporarily halting production of the other models for a period. And no, I'm not saying completely stopping making the other models, just stopping the production of the GTM for 6 weeks, then the Coupe for 6 weeks, etc., and then start the cycle all over again, until the initial surge levels out.
The 818 has really grown on me lately, my original plan was to do another Hot Rod, but the last few days I have been swayed. Friday night actually started scouring the Internet looking for potential donors. Upon reading about the wait time this morning, definitely took some wind out of my sail.
Paul
Paul,
I would simply submit that a SIGNIFICANT amount of folks lining up to purchase a new product that FFR comes out with have been a part of this organization for a number of years. I met Wayne in 2008 I think. We all run in the same circles, Wayne was West Coast AMA, and I was East Coast WERA. When you look at my signature, the Chip Foose comment is not just words, it is a life, a completely separate family and lifestyle. It is really a small, close knit community. I suspect there is less than six degrees of separation in the first 100 purchasers...
sanddan52
06-18-2013, 06:01 PM
I know for me a 6 month wait would not be an issue at all. I want to replace my hayabusa powered sandcar with something I can drive on the street and sill get the speed rush of my car (1000 lbs at 280hp turbo charged). this might fit the bill except I hate to wait that long to start the build.
Decisions ... decisions