GTM Performance Engineering: MHI Twin Turbo Official Release

Chuck33079

Ambiguity in contracts favors the buyer, not the seller.

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Alkatraz

I have shown in multiple previous posts that a restocking fee can be charged on layaway items that are never in possession by the customer. This is common practise so I dont know why you are arguing that one.

I will now give some examples of several products which were offered by retailers under a layaway scheme but which were not yet finished or released.

Apple Iphone 5 (probably 2, 3, 3s, 4, 4s as well)
Samsung Galaxy S4
Playstation 4
Xbox 1

All of these were offered for sale via layaway long before they were ever finished or released. If Wallmart can do it with products that they have zero control over, then other companies can do it for the products that they actually produce.

I dont know what else I can do to show that GTM have every right to run a layaway program and charge a restocking fee on this product.

Once again, I'm not trying to defend them in any way. I wouldn't charge a fee after all the delays if I was them but the fact is that they have done nothing wrong. If you are angry at GTM for the neverending delays and poor communication, then fine, be angry (I am) but can people just stop making things up to try and make them look bad. Or at least go and make a new thread to do it in.

There are about 5-6 people here who should go and start a 'GTM sucks big hairy goats balls' thread and then they can have a wonderful time together. I for one would probably check it daily just for a laugh.

Dzel

Thanks AK

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Alkatraz

The Layaway Process - BBB News Center
"• Can I get a refund or store credit if I no longer want the item after making a few payments? Is there a restocking fee?

You may not be able to obtain a refund or a store credit if you change your mind about buying the item put on layaway. In addition, restocking fees of 10% or more are often charged."

Alkatraz

How Does Layaway Work? | eHow

"What Are the Costs of Using Layaway?
The cost of using a layaway budget plan varies depending on the merchant offering the plan. Most retailers charge a layaway fee to cover their administration expenses. Some retailers offer layaway plans with a flat fee, meaning that you'll pay the same amount no matter the amount of your purchase. Other retailers charge a percentage of the purchase price as a layaway fee. Rarely, a retailer may offer free layaway as a promotion. In addition, some retailers may charge a cancellation or restocking fee if a customer does not make her installment payments or fails to retrieve her layaway purchases."


Should i keep going or do people understand now???

Dzel

Good point Al but explain why only a select few are being charged?

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Alkatraz

Becuase they opted for the layaway option and signed a contract stating that they accept a potential restocking fee. Have others who used layaway not been charged the restock fee? If so, that is totally different.

Dzel

In select few I mean the last guys in a few weeks to back out.

Go ahead I'll wait...

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fairlady_z34

i havent looked at this thread for a few weeks and when i come back its not about turbo kits anymore. looks like a bunch of kids arguing over oreos and cookies now

SAM@GTM

For starters, it is extremely difficult to give an update on something as complex as a turbo kit. We are dealing with 9 different suppliers to bring this whole thing together. Everything is moving forward, but it is not easy, nor is it simple.

We have 7 all new cast pieces being made for this turbo kit: 3 new turbo manifolds and 4 all new turbine outlets. Most people have no clue how much it costs for mold fees alone for just one cast piece. The mold fees take 100's of units to pay for themselves. Multiply that by 7, and we have a huge capital investment. With this much capital tied up in this venture, there is no reason for us to just run away with people's money.

In fact, we have not required payment to even be on the Group Buy. People have put money down by choice and those that paid in full are entitled to a full refund if they don't want to wait or change their minds. For layaway plans, however, it takes a lot more time and effort to manage and track payments made over a long period of time, and it doesn't necessarily speak to how serious someone is when they only put 20% down on something. People default on loans all the time for various reasons, and something like a layaway plan makes it too easy to pull out of if there is no cancellation clause. Since it requires a signed contract, the person entering the agreement recognizes that there is a penalty for pulling out. In hindsight, I almost feel like we made it far too easy to withdraw from the group buy and we should have taken our competitor's hard line of a non-refundable deposit.

The philosophy behind what we are doing here is not to rip people off, but provide the best possible kit with the best value so that you don't have to spend $10k to get an awesome twin turbo kit for your 370z/G37. We also have 5 different down pipe variations in the works to meet different needs (right hand drive, V-band, standard, catted and non-catted).

Even still, it takes an enormous amount of time and effort to put something of this magnitude together. Add in my recent health issues, and things have become very complicated and even more challenging. Most people that have gone through my surgery would still not be back to work, yet here I am.

As for the frequency of updates, keep in mind with how many vendors are involved with this product, sometimes it takes over a week just for us to get an update from them. Rest assured that we are trying our hardest to wrap this up and put this behind us.

Now, for the "update" part:

Our Mandrel Bender is up and running, but cannot bend the material we had gotten without the material breaking. So, we had to get the material heat treated before we can even bend it. That means working with yet another company that we don't have direct control over. Fortunately, we were able to get the heat treated piping in this afternoon so we can get back to bending pipes. We also discovered that we need more dies to do some of the other pipes as well.

For the cast pieces, we got samples to check and found some inaccuracies with several of them. Those have been fixed and sent back to get redone. This means that the molds had to get re-worked so that the parts will be in spec. That was a few weeks ago and things are back on track.

Sam

BlkNismo

Thank you GTM for the long awaited update.

What is your projection of completion date? Summer of 14 or sooner?

09nismo498

I would really hope its before summer of 2014...

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BlkNismo

me too...worst case scenario?

if that was the time frame given, I'd be happier with that then the unknown.

fairlady_z34

i hope it does so i can get in on the group buy by then lol

DEpointfive0

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