GTM Performance Engineering: MHI Twin Turbo Official Release

Originally Posted by Chuck33079

Wait- they are charging some people a restocking fee for a product that as yet doesn't exist? Holy ****. That's terrible.

Originally Posted by G37sHKS

I've been watching this thread for a while now not because Im in group buy but because I care about whats going on. Also, Im still waiting for these new manifolds.

Now this is the first time im going to post here about delays, refunds, and etc.

I personally would love to see GTM return the guy that I quoted above his 475 back because there was no products to return to the stock or store you name it.

I know you guys have to follow whats written on contract but there is nothing to return so I don't see why this customer have to lose 475.

Regards.

Originally Posted by SPOHN

I thought restocking fee was for if you returned a product? O o

Originally Posted by dragonbreath

I am no longer in the group by either. When I signed up it took GTM a few minutes to respond to my questions regarding the kit, and they swiftly accepted my money. I signed up for the layaway program since I didnt really want to finance it and wanted to get in on it before it closed. I had to sign a contract stating that if I cancelled it would require a 25% "restocking fee". Very stupid on my behalf. Hindsight is 20/20. After requesting cancellation, which took two full business days and a phone call to get a reply from my email, Mike informed me that I would be eating $475 due to the restocking fee. He then agreed to allow me to purchase a few items from GTM to avoid losing $475. Finally, after another few phone calls and 7 days later I got an invoice that was literally $600 more expensive than what I could get the items for from another vendors advertised pricing. I gave it some thought and decided that I would gladly loose $475 for a "restocking fee" for a product that isnt available, than giving this company another dollar. Even if I would have payed in full, the company couldnt fulfill their contractual obligations of "once the invoice is paid in full, we will ship your purchase". But, I signed the contract like a dummy and they had me by the testicles. I sent them a long email explaining my disappointment with the company and its customer service, and requested a refund. It took another 8 days to receive a reply. Although I will say that I had my money back 4 days later. Mailed in by check.

Its safe to say that I will not be doing any future business with GTM. Mike is a very nice guy. I have nothing bad to say about him as a person. GTMs lack of customer service is astounding considering how much money they have tied up in this project. In the end I lost $475 dollars for absolutely nothing. It sickens me to think about it. I dont have any regrets from loosing the money to spend the rest of it at a company who I feel wants and will strive to retain my business.

Sorry for the rant..... Its been on my brain for a bit and there is no where else to post this.

Originally Posted by dragonbreath

I am no longer in the group by either. When I signed up it took GTM a few minutes to respond to my questions regarding the kit, and they swiftly accepted my money. I signed up for the layaway program since I didnt really want to finance it and wanted to get in on it before it closed. I had to sign a contract stating that if I cancelled it would require a 25% "restocking fee". Very stupid on my behalf. Hindsight is 20/20. After requesting cancellation, which took two full business days and a phone call to get a reply from my email, Mike informed me that I would be eating $475 due to the restocking fee. He then agreed to allow me to purchase a few items from GTM to avoid losing $475. Finally, after another few phone calls and 7 days later I got an invoice that was literally $600 more expensive than what I could get the items for from another vendors advertised pricing. I gave it some thought and decided that I would gladly loose $475 for a "restocking fee" for a product that isnt available, than giving this company another dollar. Even if I would have payed in full, the company couldnt fulfill their contractual obligations of "once the invoice is paid in full, we will ship your purchase". But, I signed the contract like a dummy and they had me by the testicles. I sent them a long email explaining my disappointment with the company and its customer service, and requested a refund. It took another 8 days to receive a reply. Although I will say that I had my money back 4 days later. Mailed in by check.

Its safe to say that I will not be doing any future business with GTM. Mike is a very nice guy. I have nothing bad to say about him as a person. GTMs lack of customer service is astounding considering how much money they have tied up in this project. In the end I lost $475 dollars for absolutely nothing. It sickens me to think about it. I dont have any regrets from loosing the money to spend the rest of it at a company who I feel wants and will strive to retain my business.

Sorry for the rant..... Its been on my brain for a bit and there is no where else to post this.

Originally Posted by SPOHN

I thought restocking fee was for if you returned a product? O o

Originally Posted by elperuano

You guys need to grow a pair. Unbelievable. Do ur creditors behave the same way u do? I need to cash in on this cash cow here. The only community I know that accepts this and you got people even trying to defend this kind of behavior.

Who is happy with spending that kind of cash and getting treated in this manner?

Originally Posted by Alkatraz

'Restocking Fee' is probably not the most perfect name for it, but GTM definitely incur a cost for everyone who changes their mind and pulls out. They have used their own and everyone else's money to purchase large quantities of parts in development of these kits. If people pull out then GTM need to return money that has already been invested in parts and development. You all seem to think that GTM have no costs to produce these kits until the very last day that they are ready to be shipped! Everyone here must have at least some basic comprehension of how business works, right?

Originally Posted by Chuck33079

I completely understand where you're coming from on this. I think this is why people are having issues getting their refunds. I absolutely think GTM is having liquidity issues due to people backing out, sunk costs for R&D and equipment.

However, I completely disagree that charging a customer a fee to exit the group buy is in any shape, way or form acceptable. They made numerous references to being ready to ship in August or so. It's almost 2014. There's got to be a point where the fee doesn't apply. The contract is two-way. If the customer is in breach for backing out, GTM may also be in breach for not providing a product in a timely manner. Maybe the contract doesn't have a set date in it. I'm sure when the contract was written, they had no idea that in December nobody would have their kits.That doesn't mean that the contract can exist in perpetuity. At some point the customer must be able to get out at no charge if there is no reasonable expectation of having the other end of the contract fulfilled in a reasonable time frame.

Originally Posted by Alkatraz

I agree to some extent Chuck. They definitely could wave a 'restocking fee' (lol at the irony in this term) in order to save face and not have people giving negative feedback. Many businesses would, others don't, thats GTM's choice. It looks like Mike made some effort to help out by a) not charging the full 25% and b) offering to put the $ towards other parts.

If the poster (forgot the username, sorry) could post more detail and explain why he didn't just get exactly $475 worth of parts, then it would be easier to comment. Not knowing more detail it seems weird to right off the $475 instead of at least getting something out of it? Again, not attacking poster, just need more detail.

The initial reason that he had 'restocking fee' written into the contract is because he was using the 'layaway' setup to try to save some money. Correct me if I am wrong but no one who paid up front has been charged this fee, correct?

Originally Posted by dragonbreath

Regarding your earlier post, I understand the cost of R&D. I signed up at the end of August, so the ball was rolling way before they received any of my money.

I sent them $1900 to get started. 25% of 1900 is $475. The reason I decided to eat it is because the invoice they provided me was crazy. Over $400 from which I could get from another vendor. Their advertised price. For the same exact items. $200 more for a clutch and flywheel. I asked if there was anything that GTM could do regards to pricing seeing as how I could get the same products for literally hundreds less than their invoice. I was told no. I feel thats horrible customer service and the reason that they wouldnt budge is because im screwed both ways. Pay over $400 more for the same product, or lose $475 and go with another company who I know has better customer service. Im going to support a company who I feel wants my business. So rather than spending $2100 to support them, I would rather reluctantly eat $475 to prevent from giving them any more money.

Originally Posted by Alkatraz

Hang on guys! (Why do I always seem to be defending the company that has my money and doesn't tell me whats going on?!? Lol!)

'Restocking Fee' is probably not the most perfect name for it, but GTM definitely incur a cost for everyone who changes their mind and pulls out. They have used their own and everyone else's money to purchase large quantities of parts in development of these kits. If people pull out then GTM need to return money that has already been invested in parts and development. You all seem to think that GTM have no costs to produce these kits until the very last day that they are ready to be shipped! Everyone here must have at least some basic comprehension of how business works, right?

If GTM has stated an exact delivery date on contract, then they are liable to deliver by that date. As far as I am aware, no exact shipping date was ever provided to me and I was aware that there may be (would probably be) delays.

Edit: Signed contract stating "25% restocking fee". In the end only charged less than 10% of the total purchase price. Even given the option of crediting the restocking fee towards other parts. Not sure why he didn't just get $500 worth of parts and be happy with it but I don't just jump to conclusions and thats his business.

Again, I'm not trying to defend GTM but this all seems above board to me. Apart from the massive, crazy, over the top delays that is!

Originally Posted by DEpointfive0

Being a cost analyst... You cannot charge the customer for your sunken R&D costs or anything going into the making of a product; especially when the product isn't out yet. Your profit margin should be so high that you cover the R&D, but in this scenario, the customer shouldn't be held liable.


I'll go back in my hole now

Originally Posted by Alkatraz

True. However GTM have purchased products in order to fulfil a contract with the purchaser. Once the purchaser pulls out, GTM are stuck with the product and the loss of the already invested $. They must be able to charge a fee to help to recover these lost $. They don't have to and due to the massive delays, they probably shouldn't because it looks bad (obviously!) but that doesn't mean that they cant.