Dealer wants me to order today and increase deposit - help!

[moss]

I'm confused - my dealer states they get 5 cars a year (seems too few, what do you think?). I was hoping to get a manual car then chop it iun for a SMG (or ZMT- or whatever it's called in march). But dealer said it has to be either a manual car in sept or the trick gearbox in March 08. I just can't decide what to do - any help apprciated.

The price in UK is £50625 gulp!, this includes leather and sat nav, but only 18 wheels.

Also they want the deposit increased to £5000 - seems alot to me - why if the car is so in demand should the depsoit be increased so much????

Thanks for any input.

Regards Mark

[Epacy]

So, you want all of us to decide what tranny you should get?

[big fra]

It's fookin ugly lardy and slow!Dinni boer mate,tell them ta ram it and get a second hand M5

[moss]

Hmmmmmmmmmmm - not as much help as I was hoping for. Yep Epacy - I'm trying to get an idea of which tranny will be most popular. I thought the e46 manual was a poor box, but would expect the new box to be much improved. Drove a VW DSG and thought it was a little boring, but then again it was a diesel. It's difficult to spec a car that has no reviews to follow. What would you choose if you where speccing today - and why? Thank Mark. PS thank big fra - very useful

[Alumac]

I suspect the deposit increase is to sort out the serious from the spurious. As for what to do? I personally think it is kind of foolish to get the manual then trade it in for automanual a year from now. You've waited this long, why not just wait a little longer and get the car you want?

[big fra]

Originally Posted by moss

Hmmmmmmmmmmm - not as much help as I was hoping for. Yep Epacy - I'm trying to get an idea of which tranny will be most popular. I thought the e46 manual was a poor box, but would expect the new box to be much improved. Drove a VW DSG and thought it was a little boring, but then again it was a diesel. It's difficult to spec a car that has no reviews to follow. What would you choose if you where speccing today - and why? Thank Mark. PS thank big fra - very useful

Hey,no problem pal

Ive still got my name as first on the list at my local dealer and ive had no request for extra cash yet

[big fra]

Took this info of another forum for your info

I have just called the dealer and had a chat. They had all the information to hand and ran over everything with me.

We agreed on many points. The dealer KNEW already what customers were going to be concerned about. Was a very interesting conversation.

Bottom line is that next week they will be writing to customers on their list asking for a substantial sum of cash to secure their place on the waiting lists. Salesman said the final amount is down to his boss (then asked his boss) but likely to be £5,000 (inc deposit already placed).

I've left my deposit in place for the moment, but have no intention of handing over £4,500 next week at this point in time.

[moss]

Yep - I think i'm gonna wait and get a March 08 car - just hope the trick gearbox ain't delayed further!

[Greg P]

I've had £1000 down since Xmas 2005 and heard nothing from my dealer yet. Sounds like next week I might. Are leather and Sat Nav the only standard UK options then ? what about metallic paint, etc. Is the UK spec sheet out now then if formal orders are being taken ?

[Kafka]

Originally Posted by moss

Yep - I think i'm gonna wait and get a March 08 car - just hope the trick gearbox ain't delayed further!

I think your plan to wait is excellent. We all want it "right now" but BMW and the dealers have a few more hands to play before we really know when and how much and with what standard features. And, the rumor mill doesn't help much at times. Like you, I am keen (and too have pre-ordered) but have decided to wait and see what actually unfolds and when. My dealer (also an enthusiast with mega years and F1 years behind him) has given me this advice and he always been more or less right on. It will be an expensive car. And the dealers will be looking for ways of reducing the pre-ordered list as lots of folks have allegedly put their name and $1K (refundable) down (they can live the fantasy for free!) so as the time approached the wanna be E92 M3 drivers will have to be separated from those who will give their $ to the dealer. His advice makes sense I think and he readily acknowledges the politics and business associated with the "pre-order list" strategy. If you have the cash then pay the extra deposit (refundable like the original deposit-- that is the question!), if not chill and wait.

Enjoy your ride today ........
K.

[Steved]

Originally Posted by Greg P

I've had £1000 down since Xmas 2005 and heard nothing from my dealer yet. Sounds like next week I might. Are leather and Sat Nav the only standard UK options then ? what about metallic paint, etc. Is the UK spec sheet out now then if formal orders are being taken ?

Yes, the UK spec sheet is out at dealers. Their ordering systems were updated as from today and able to register firm orders.

Here is the info the dealers have received:

http://www.connectxt.co.uk/E92_dealer_info.pdf

The reason why the deposit is up to £5k is due to the messing around that occured with the CSL orders back in 2003. Since then BMW has mandated dealers to confirm they have received a substantial deposit from every customer on the order list for major M Division cars.

[SpencerM3]

Originally Posted by big fra

It's fookin ugly lardy and slow!Dinni boer mate,tell them ta ram it and get a second hand M5

WOW!!!! You Scotsman are impossible to understand even when you type

[abe2]

For anyone who is going to put down so much in a deposit, I'd suggest that you negotiate with the dealer that they pay you interest accrued on that money by the time you get the car. If you are talking about dealers asking you for almost US$10K that is a lot of money and if you decide to actually get the car, which I assume you want, you have no idea when it will be. You could have that money locked up for at least 9 months, and more likely more. Time value of money is something most people don't think about when it comes to putting down deposits on cars because usually its only a small amount of money and not necessarily for a long amount of time. But we don't officially know when the M3 is actually going to be coming out, and US$10K is a lot of money = the dealer can put that money in an account, take the interest for itself, and make money off of you even if it gives you back your deposit because you don't want the car, or because it only applies the principal of the deposit to the purchase price, and not the interest it made off of your money. Don't get screwed.

[DonM3]

Excellent point.

Originally Posted by abe2

For anyone who is going to put down so much in a deposit, I'd suggest that you negotiate with the dealer that they pay you interest accrued on that money by the time you get the car. If you are talking about dealers asking you for almost US$10K that is a lot of money and if you decide to actually get the car, which I assume you want, you have no idea when it will be. You could have that money locked up for at least 9 months, and more likely more. Time value of money is something most people don't think about when it comes to putting down deposits on cars because usually its only a small amount of money and not necessarily for a long amount of time. But we don't officially know when the M3 is actually going to be coming out, and US$10K is a lot of money = the dealer can put that money in an account, take the interest for itself, and make money off of you even if it gives you back your deposit because you don't want the car, or because it only applies the principal of the deposit to the purchase price, and not the interest it made off of your money. Don't get screwed.

[BevoRules]

i guess asking for 5000 quid as new down payment seems reasonable if dealer is actually trying to figure out the serious from not serious buyers. i guess i would (will) do it. but considering that is now getting to be a heafty amount of jack that they have of your money, i'd tell (or at least try) them they need to compensate you for the lost interest on 5000 for 6 months (or however long they have it). i mean the interest on that much jack for 6 months is over 200 quid by itself...

[cncmastr]

Originally Posted by big fra

It's fookin ugly lardy and slow!Dinni boer mate,tell them ta ram it and get a second hand M5

At first, i was like wtf? Then i read it in a scottish accent - fooken hilarious!

[Steved]

Originally Posted by BevoRules

i guess asking for 5000 quid as new down payment seems reasonable if dealer is actually trying to figure out the serious from not serious buyers. i guess i would (will) do it. but considering that is now getting to be a heafty amount of jack that they have of your money, i'd tell (or at least try) them they need to compensate you for the lost interest on 5000 for 6 months (or however long they have it). i mean the interest on that much jack for 6 months is over 200 quid by itself...

It's standard practice when ordering a Ferrari, and no you don't get interest on the deposits they hold.

To be honest I am really quite glad that they have adopted this approach, I was mucked about when I bought my M3 CSL in 2003 (which is why they have now taken this approach).

At the time I was 2nd on the list at my dealer and was told that I wouldn't get a car due to the demand there had been. After kicking up a major stink and speaking to the Director of Sales within BMW GB itself I managed to get a car made available (after lots of letters and phonecalls). Then within the space of a few weeks all the speculators vanished and there were plenty available. At the time, BMW GB were likewise petitioning Munich to provide them with 200 additional cars, because so many customers were angry at being excluded from buying one.

So I almost didn't get a car, but wasted lots of time trying to find one, and BMW almost ended up with even more egg on their faces ordering more cars for customers that didn't really exist.

Hopefully people who are less than serious will be dissuaded resulting in a more balanced and predictable supply/demand. Cars will still be available, but ideally there will be less over-supply. Unfortunately there will be a few casualties, genuine customers who will feel that £5k really is too much deposit, but overall I think it will be better for most genuine customers.

[fueledbymetal]

Originally Posted by abe2

For anyone who is going to put down so much in a deposit, I'd suggest that you negotiate with the dealer that they pay you interest accrued on that money by the time you get the car...Don't get screwed.

You could try, but I doubt any dealer would agree. I would look at the interst lost as:
A - An alternative to paying dealer mark-up on a hot new car (assuming dealer will sell it to you for MSRP)
B - A worthy investment vs. depreciation considering how early in the model year you'd get your car. (example - 2003 M3 w/50k miles is worth ~30k. The guy that picked his up in late 2002 will have suffered less depreciation than the guy that picked his up in summer 2003).

[Epacy]

So, if US M3 doesn't come out till Feb/Mar, will it be an 09?

[AMMZING]

Originally Posted by Epacy

So, if US M3 doesn't come out till Feb/Mar, will it be an 09?

yeah prolly...i wont be able to buy till calender year 2010 or 11 anyways...so hopefully by then prices will have cooled and the kinks will have been worked out.

[2002 Tii]

[QUOTE=Steved;852686]It's standard practice when ordering a Ferrari, and no you don't get interest on the deposits they hold.

Easy buddy we are not speaking about a very limited production Italian exotic here

[Smoltz]

Originally Posted by Epacy

So, if US M3 doesn't come out till Feb/Mar, will it be an 09?

If we use history as our guide, the answer is no. The E46 M3 debuted at US dealerships in March 2001 time frame it was a MY2001.

-Adam