Should I insist on paying a deposit for a new car order?

MWFR12 · 10-20-2011, 04:35 AM

After reading a thread about a fellow who wasted a plane trip because he didn't put a deposit while trying to buy from a shady dealer, I started to worry about my own situation. I have a 2012 E92 on order and didn't pay a deposit on it because the CA said it's nothing but useless paperwork. It seemed to make sense because the deposit is refundable if I don't take delivery for any reason. But now I'm wondering if the dealer is intentionally doing this to give themselves an option to try to find a buyer for a higher price when the car gets here. I wouldn't normally suspect something like this, but they flip-flopped on the price at the time of order, the excuse being their general manager wanted a higher profit. I had to raise hell to get them to back off and honor the original agreement. But without a deposit they haven't really committed to selling the car to me.

Should I insist they take my deposit? What's the usual amount, and is personal check better/worse than credit card for the purpose of making the dealer to commit?

Poofyo101 · 10-20-2011, 07:18 AM

Order from Ryan Amico. No problems there.

bvernon · 10-20-2011, 08:08 AM

Did you sign any paperwork when you made the deal? Regardless of whether or not you give a deposit, you should have a signed contract stating the terms of your agreement. For example, if you negotiated a deal for $500 over cost then your document should state that. As long as you have something in writing from the dealer it doesn't matter if you gave a deposit or not.

THE TECH · 10-20-2011, 08:16 AM

I know that I was required to put a refundable deposit down when I ordered mine from Ryan.

MR///M3 · 10-20-2011, 09:06 AM

Quote:

Originally Posted by THE TECH

I know that I was required to put a refundable deposit down when I ordered mine from Ryan.

+1. me too

RyBaym3 · 10-20-2011, 10:21 AM

I know it sounds redundant but just go through Ryan at Steve Thomas. I too, live in the bay area and called every dealer over a hundred miles within the area and I realized I would of just saved time with one call. I got a great price just over invoice with a production end date on 9/30.
If your dealer is a headache to deal with now imagine calling them for a question or an update weeks into your order, with Ryan or Kwinn I get a response the same day. Trust me, I already did the leg work.

GOLFFRR · 10-20-2011, 11:13 AM

thanks guys for all the kind words! OP if you need any assistance just shoot Ryan an email and let him know what you are looking for and he will take care of the rest

M3SQRD · 10-20-2011, 11:55 AM

Yes, I would strongly recommend putting down a deposit as well as signing a build sheet and/or PO.

K-M3 · 10-20-2011, 09:32 PM

I would pay the deposit. That way, you have a claim on the car and even though its refundable, its still a two way commitment between you and the dealer - sortof.

And I learnt a lill bit from experience with my last purchase. Liked a car on the lot (was a Saturday), was planning on finalizing all the paper work on my day off which was a Tuesday. The sales guy said not to worry and just do the deposit on Tues. Go in Tuesday and see a SOLD sign on the car - thought it was mine!!!! Sales guy informed that someone else already signed the paperwork for it on Monday with the other sales guy. Havent felt as shafted before as I did then. I had the general manager get involved - to no avail. Basically the talk I got was "no deposit, no claim", although they tried to be PC about it. Walked away and never went back to them.....

long story short, I think a deposit is a way to lay your claim on the car. Maybe some dealers are more honorable than above mentioned, so I may be wrong........

MWFR12 · 10-21-2011, 08:30 PM

Thanks for the comments, guys. I will go pay a deposit and get something in writing with the agreed-upon price so they can't weasel out later on.

dagolfpro · 10-23-2011, 10:49 AM

Quote:

Originally Posted by Altabay

Thanks for the comments, guys. I will go pay a deposit and get something in writing with the agreed-upon price so they can't weasel out later on.

Good Plan. I did the same thing as I'm picking up my car this week. Wanted something in writing even though I placed a deposit. Did not receive anything from the dealership saying the stated car was mine until I insisted yesterday.

Good Luck!

OldenburgerM3 · 10-24-2011, 09:27 AM

with the ED you probably signed a purchase order? that ought to do it I'd think.

MWFR12 · 10-24-2011, 01:00 PM

Quote:

Originally Posted by OldenburgerM3

with the ED you probably signed a purchase order? that ought to do it I'd think.

Was that a question for me? I am not doing European delivery.

10-20-2011, 04:35 AM	#1
MWFR12 Private 9 Rep 55 Posts Drives: 2012 E92 MW/FR Join Date: Sep 2008 Location: CA iTrader: (0)	Should I insist on paying a deposit for a new car order? After reading a thread about a fellow who wasted a plane trip because he didn't put a deposit while trying to buy from a shady dealer, I started to worry about my own situation. I have a 2012 E92 on order and didn't pay a deposit on it because the CA said it's nothing but useless paperwork. It seemed to make sense because the deposit is refundable if I don't take delivery for any reason. But now I'm wondering if the dealer is intentionally doing this to give themselves an option to try to find a buyer for a higher price when the car gets here. I wouldn't normally suspect something like this, but they flip-flopped on the price at the time of order, the excuse being their general manager wanted a higher profit. I had to raise hell to get them to back off and honor the original agreement. But without a deposit they haven't really committed to selling the car to me. Should I insist they take my deposit? What's the usual amount, and is personal check better/worse than credit card for the purpose of making the dealer to commit?
	Appreciate 0 Tweet Quote

10-20-2011, 07:18 AM	#2
Poofyo101 Major 56 Rep 1,250 Posts Drives: e92 ///M3 Join Date: Apr 2009 Location: NC iTrader: (9) Garage List 1988 BMW M3 [0.00] 1988 BMW M3 [0.00] 2012 BMW M3 [0.00] 1990 BMW M3 [0.00]	Order from Ryan Amico. No problems there. __________________ 12 E92 M3-AW/FR-20" BBS LM-Painted Reflectors-BMW Gloss Black Grills + Gills-BMW Performance LED Wheel-BMW Carbon Performance Spoiler-Akra Evolution-Stoptech Trophy
	Appreciate 0 Quote

10-20-2011, 08:08 AM	#3
bvernon Private First Class 2 Rep 141 Posts Drives: 2012 M3 Convertible Join Date: Jul 2011 Location: Northern Virginia iTrader: (0)	Did you sign any paperwork when you made the deal? Regardless of whether or not you give a deposit, you should have a signed contract stating the terms of your agreement. For example, if you negotiated a deal for $500 over cost then your document should state that. As long as you have something in writing from the dealer it doesn't matter if you gave a deposit or not.
	Appreciate 0 Quote

10-20-2011, 08:16 AM	#4
THE TECH BimmerPost Supporting Vendor 307 Rep 13,093 Posts Drives: BPMsport 2012 E92 M3 Join Date: Jun 2011 Location: Kansas iTrader: (45) Garage List 2013 Nissan GTR [0.00] 2019 Sierra Denali ... [0.00] 1999 Nissan Silvia [0.00] 1999 Nissan Skyline ... [0.00] 1998 Toyota Supra [0.00]	I know that I was required to put a refundable deposit down when I ordered mine from Ryan.
	Appreciate 0 Quote

10-20-2011, 10:21 AM	#6
RyBaym3 Enlisted Member 0 Rep 27 Posts Drives: M Join Date: Sep 2011 Location: Bay area iTrader: (0)	Ordering an m3 I know it sounds redundant but just go through Ryan at Steve Thomas. I too, live in the bay area and called every dealer over a hundred miles within the area and I realized I would of just saved time with one call. I got a great price just over invoice with a production end date on 9/30. If your dealer is a headache to deal with now imagine calling them for a question or an update weeks into your order, with Ryan or Kwinn I get a response the same day. Trust me, I already did the leg work. Last edited by RyBaym3; 10-20-2011 at 10:39 AM..
	Appreciate 0 Quote

10-20-2011, 11:13 AM	#7
GOLFFRR 10802 Rep 27,595 Posts Drives: GOLFFRR cart Join Date: Mar 2009 Location: we sell BMWs to "ALL" US states iTrader: (4)	thanks guys for all the kind words! OP if you need any assistance just shoot Ryan an email and let him know what you are looking for and he will take care of the rest __________________ BEFORE YOU BUY YOUR NEXT BMW, EMAIL OUR GUY KOTE FIRST! Kote M Sales:Kotem@bmwofcamarillo.com Cell:805-368-9101 vipfinance@bmwofcamarillo.com for warranties!
	Appreciate 0 Quote

10-20-2011, 11:55 AM	#8
M3SQRD Major General 2123 Rep 5,515 Posts Drives: E92 M3,G20 330ix,F22 240iX,F82 Join Date: Jun 2009 Location: Mid-Atlantic iTrader: (11)	Yes, I would strongly recommend putting down a deposit as well as signing a build sheet and/or PO.
	Appreciate 0 Quote

10-20-2011, 09:32 PM	#9
K-M3 Lieutenant 91 Rep 439 Posts Drives: '12 M3 Join Date: Sep 2011 Location: DFW, TX iTrader: (0)	pay the deposit..... I would pay the deposit. That way, you have a claim on the car and even though its refundable, its still a two way commitment between you and the dealer - sortof. And I learnt a lill bit from experience with my last purchase. Liked a car on the lot (was a Saturday), was planning on finalizing all the paper work on my day off which was a Tuesday. The sales guy said not to worry and just do the deposit on Tues. Go in Tuesday and see a SOLD sign on the car - thought it was mine!!!! Sales guy informed that someone else already signed the paperwork for it on Monday with the other sales guy. Havent felt as shafted before as I did then. I had the general manager get involved - to no avail. Basically the talk I got was "no deposit, no claim", although they tried to be PC about it. Walked away and never went back to them..... long story short, I think a deposit is a way to lay your claim on the car. Maybe some dealers are more honorable than above mentioned, so I may be wrong........
	Appreciate 0 Quote

10-21-2011, 08:30 PM	#10
MWFR12 Private 9 Rep 55 Posts Drives: 2012 E92 MW/FR Join Date: Sep 2008 Location: CA iTrader: (0)	Thanks for the comments, guys. I will go pay a deposit and get something in writing with the agreed-upon price so they can't weasel out later on.
	Appreciate 0 Quote

10-24-2011, 09:27 AM	#12
OldenburgerM3 Private First Class 72 Rep 183 Posts Drives: 2011 Jet Black M3 Coupe Join Date: Feb 2011 Location: TX iTrader: (0)	with the ED you probably signed a purchase order? that ought to do it I'd think.
	Appreciate 0 Quote