deposit refund

punjabij · 07-26-2013, 06:13 PM

Left a deposit with dealership for planning on leasing new 2014 when they come out.
Could not agree on price, car was never ordered.
State of NY.
Should there be any problems getting deposit back?

Dan_335i · 07-26-2013, 06:14 PM

u should beable to get ur deposit back just ask

bavarianboar · 07-26-2013, 06:27 PM

Quote:

Originally Posted by punjabij

Left a deposit with dealership for planning on leasing new 2014 when they come out.
Could not agree on price, car was never ordered.
State of NY.
Should there be any problems getting deposit back?

Why did you leave a deposit in the first place if the price was not agreed upon?

In any case you should be able to get it back if the car was never ordered. That should be simple for the dealership to maintain some business etiquette.

purpl3ish · 07-26-2013, 06:34 PM

should be no problem at all..

dynastar · 07-26-2013, 07:30 PM

THey can't keep it.

punjabij · 07-27-2013, 10:42 AM

thanks for all the replies. just wanted to confirm that there should be no issues. the CA and FM I was dealing with there SUCK!

illirep · 07-29-2013, 03:00 PM

It is illegal for them to keep the deposit, whether you ordered a car, or not!

Pauleebe · 07-29-2013, 05:13 PM

I'm a bit confused ...

What's the point of a deposit, if you can take it back at any time? Why does the dealer even care about you putting one down then?

JesseS · 07-29-2013, 07:45 PM

Quote:

Originally Posted by dwalls90

I'm a bit confused ...

What's the point of a deposit, if you can take it back at any time? Why does the dealer even care about you putting one down then?

Agreed, if the order had been decided on and the initial paperwork signed.

But a deposit without an order doesn't sound right at all.

Pauleebe · 07-29-2013, 10:12 PM

Quote:

Originally Posted by JesseS

Agreed, if the order had been decided on and the initial paperwork signed.

But a deposit without an order doesn't sound right at all.

Gotcha!

Right, then what is the deposit securing? Haha.

chrisny · 07-29-2013, 11:11 PM

Quote:

Originally Posted by dwalls90

I'm a bit confused ...

What's the point of a deposit, if you can take it back at any time? Why does the dealer even care about you putting one down then?

I suppose just to show you're serious. If you weren't willing to put down $500 or $1000 for however long you have to wait for the car, you're probably not too serious about buying it. It reserves the car for you. Imagine dealers allowing that with no money out of your pocket, people would reserve cars all over the place while shopping for their deal, wouldn't work.

Also, the deposit doesn't secure the deal or rates, etc, the credit application does. They could waive the deposit and still secure the deal. I've bought a couple cars with no deposit because I had dealt with the dealership before.

E90-F30 · 07-31-2013, 08:53 AM

Quote:

Originally Posted by punjabij

thanks for all the replies. just wanted to confirm that there should be no issues. the CA and FM I was dealing with there SUCK!

What dealer in NY?

E92Carrera · 07-31-2013, 09:19 AM

Quote:

Originally Posted by E90-F30

What dealer in NY?

I'm seeing a trend lately with NY dealerships not wanting to negotiate. You'd think a fairly large city like NY would be more open to negotiation.

Glad we don't have problem here in SoCal, you can easily get to about 6/7 dealerships with about 30 mins of each other.

E90-F30 · 07-31-2013, 09:23 AM

Quote:

Originally Posted by E92Carrera

Quote:

Originally Posted by E90-F30

What dealer in NY?

I'm seeing a trend lately with NY dealerships not wanting to negotiate. You'd think a fairly large city like NY would be more open to negotiation.

Glad we don't have problem here in SoCal, you can easily get to about 6/7 dealerships with about 30 mins of each other.

The NYC dealerships are probably easier to deal with than upstate where I live.

Pauleebe · 07-31-2013, 12:10 PM

Quote:

Originally Posted by E92Carrera

I'm seeing a trend lately with NY dealerships not wanting to negotiate. You'd think a fairly large city like NY would be more open to negotiation.

Glad we don't have problem here in SoCal, you can easily get to about 6/7 dealerships with about 30 mins of each other.

There seem to be two factors that allow you to negotiate a good selling price:

- Not being directly in a mega metropolitan area (like NYC)
- Having multiple dealers in that immediate area that compete for your business

NYC dealers know there is plenty of money closer to the actual city, so they rather use their inventory or production allocations for the next rich chick that will walk in and pay MSRP, compared to your $1,000 over invoice price.

E90-F30 · 07-31-2013, 08:46 PM

Quote:

Originally Posted by dwalls90

Quote:

Originally Posted by E92Carrera

I'm seeing a trend lately with NY dealerships not wanting to negotiate. You'd think a fairly large city like NY would be more open to negotiation.

Glad we don't have problem here in SoCal, you can easily get to about 6/7 dealerships with about 30 mins of each other.

There seem to be two factors that allow you to negotiate a good selling price:

- Not being directly in a mega metropolitan area (like NYC)
- Having multiple dealers in that immediate area that compete for your business

NYC dealers know there is plenty of money closer to the actual city, so they rather use their inventory or production allocations for the next rich chick that will walk in and pay MSRP, compared to your $1,000 over invoice price.

I don't agree.
The rich people stay rich by making smart financial decisions.

There is however, the occasional idiot that has too much money he/she knows what to do with and pays sticker price, which is just ignorant.

mntbiker · 07-31-2013, 09:15 PM

Quote:

Originally Posted by E90-F30

I don't agree.
The rich people stay rich by making smart financial decisions.

There is however, the occasional idiot that has too much money he/she knows what to do with and pays sticker price, which is just ignorant.

I'm not sure you can really generalize it. A lot of rich people value their time enough that they'd rather just buy the car in 30 minutes rather than spending hours researching or negotiating over a few hundred bucks that they couldn't care less about.

E90-F30 · 07-31-2013, 09:18 PM

Quote:

Originally Posted by mntbiker

Quote:

Originally Posted by E90-F30

I don't agree.
The rich people stay rich by making smart financial decisions.

There is however, the occasional idiot that has too much money he/she knows what to do with and pays sticker price, which is just ignorant.

I'm not sure you can really generalize it. A lot of rich people value their time enough that they'd rather just buy the car in 30 minutes rather than spending hours researching or negotiating over a few hundred bucks that they couldn't care less about.

If they're rich enough, they'd hire someone to buy their car for them

But I understand your point.

Pauleebe · 07-31-2013, 09:53 PM

Quote:

Originally Posted by E90-F30

I don't agree.
The rich people stay rich by making smart financial decisions.

There is however, the occasional idiot that has too much money he/she knows what to do with and pays sticker price, which is just ignorant.

Don't agree with this either.

Seems like most car buyers just take what the dealer tells them to take more often than not. Occasionally buyers will get $500 to $1,000 off the MSRP and consider that a steal, when in reality, a solid deal per BMW forums would be $500 above invoice price (a few $1,000's under MSRP).

Unless they are using websites like BMW config to find the invoice price, or researching the base interest rates or money factors, there's a good chance they are paying more than they should.

07-26-2013, 06:13 PM	#1
punjabij New Member 1 Rep 25 Posts Drives: 2011 328i Join Date: Jun 2011 Location: Ny, ny iTrader: (0)	deposit refund Left a deposit with dealership for planning on leasing new 2014 when they come out. Could not agree on price, car was never ordered. State of NY. Should there be any problems getting deposit back?
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07-26-2013, 06:14 PM	#2
Dan_335i Captain 102 Rep 936 Posts Drives: 2014 335i EBII MSport Join Date: Aug 2012 Location: toronto iTrader: (0)	u should beable to get ur deposit back just ask
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07-26-2013, 06:34 PM	#4
purpl3ish Major 756 Rep 1,068 Posts Drives: 2023 G80 Velvet Orchid M3 Join Date: Sep 2007 Location: Brooklyn, NY iTrader: (9)	should be no problem at all.. __________________ 2020 G20 Twilight Purple M340i xDrive, 2017 F80 30 Jahre, 2011 E92 335i xDrive///M3, 2012 E93 ///M3 -- Retired
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07-26-2013, 07:30 PM	#5
dynastar Private 3 Rep 75 Posts Drives: 2013 - 328i M Sport - EB Join Date: Jun 2013 Location: Portland, OR iTrader: (0) Garage List 2013 328i m sport [0.00]	THey can't keep it. __________________ ----------------- On order: 5/25 - 2013 328i m sport Estoril Blue Delivery to Port Hueneme - 7/19 At Dealer by ??????
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07-27-2013, 10:42 AM	#6
punjabij New Member 1 Rep 25 Posts Drives: 2011 328i Join Date: Jun 2011 Location: Ny, ny iTrader: (0)	thanks for all the replies. just wanted to confirm that there should be no issues. the CA and FM I was dealing with there SUCK!
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07-29-2013, 03:00 PM	#7
illirep Lieutenant Colonel 165 Rep 1,994 Posts Drives: 2023 M3 Join Date: Mar 2007 Location: Hilton Head, SC iTrader: (33)	It is illegal for them to keep the deposit, whether you ordered a car, or not!
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07-29-2013, 05:13 PM	#8
Pauleebe Colonel 380 Rep 2,290 Posts Drives: Inbetween BMW's. Join Date: May 2013 Location: Washington, DC iTrader: (0)	I'm a bit confused ... What's the point of a deposit, if you can take it back at any time? Why does the dealer even care about you putting one down then?
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