[albertreet]

Hey All,

When you put a deposit on M2, when is the latest that you can back up?

On an order on european delivery?

On a regular order?

Thank you.

[atxsk8r]

Depends on the dealer i guess but best thing to do is when you put a deposit down, get everything in writing. State that you can back out at anytime and get 100% deposit back.

[bmw-st]

I believe you can change your mind anytime... even if the car's in transit.

I've seen cars @ local dealership because buyers backed out, but it's better to check with your CA before putting down the deposit..

GL!

[arquitecto]

My order is for PCD, I was told my deposit was fully refundable up until the car entered production and could no longer be configured. I could walk away anytime before that with my money. I can also walk away from the order after this point however the deposit will be forfeited. This may just be how my dealer works though so I would verify with your dealer in case they have a different policy.

[piesauce]

My guy is asking for a $5,000 deposit. Is this what you guys have been putting down? I thought I heard from another dealer that $500 deposit was the amount.

Please let me know as I am working to get things situated before ordering.

[arquitecto]

Originally Posted by piesauce

My guy is asking for a $5,000 deposit. Is this what you guys have been putting down? I thought I heard from another dealer that $500 deposit was the amount.

Please let me know as I am working to get things situated before ordering.

The amount varies from dealer to dealer. Typically $1000 is what they ask for but I have heard of a few dealers asking for more, 2000-5000 range. Also some dealers require no deposit to be on the wait list and only ask for a deposit once you have an allocation.

You aren't really losing that money since in the end it goes towards the car but I understand it is more of hassle than if they were asking for less. Call around and see what other dealers in your area are asking for, you should easily be able to find one that is asking for less. $5000 is on the very high end.

[piesauce]

Originally Posted by arquitecto

The amount varies from dealer to dealer. Typically $1000 is what they ask for but I have heard of a few dealers asking for more, 2000-5000 range. Also some dealers require no deposit to be on the wait list and only ask for a deposit once you have an allocation.

You aren't really losing that money since in the end it goes towards the car but I understand it is more of hassle than if they were asking for less. Call around and see what other dealers in your area are asking for, you should easily be able to find one that is asking for less. $5000 is on the very high end.

Thanks!

I've been calling dealers out of state as the dealers in my state aren't able to help me out as well as I would like.

I'm going to see if this guy can drop the deposit fee, which I'm sure he'll be happy to if I tell him I will go with another dealer if he doesn't.

[bmw-st]

Originally Posted by arquitecto

The amount varies from dealer to dealer. Typically $1000 is what they ask for but I have heard of a few dealers asking for more, 2000-5000 range. Also some dealers require no deposit to be on the wait list and only ask for a deposit once you have an allocation.

You aren't really losing that money since in the end it goes towards the car but I understand it is more of hassle than if they were asking for less. Call around and see what other dealers in your area are asking for, you should easily be able to find one that is asking for less. $5000 is on the very high end.

Exactly...

It varies from dealer to dealer. My dealership took $1,000 deposit, but I was told by the largest BMW dealership in the States (Crevier)...they don't even require deposit (and they had 1 in stock about a month ago because buyer backed out from the deal).

I would say $1,000 deposit is a fair amount. I wouldn't do $5,000, but that's just me. Good luck!

[bartginger]

Mine asked for $2,000 deposit, which I paid since he agreed to sell to me at MSRP.

[D CHOI]

Originally Posted by bmw-st

Exactly...

It varies from dealer to dealer. My dealership took $1,000 deposit, but I was told by the largest BMW dealership in the States (Crevier)...they don't even require deposit (and they had 1 in stock about a month ago because buyer backed out from the deal).

I would say $1,000 deposit is a fair amount. I wouldn't do $5,000, but that's just me. Good luck!

Wow you're right...Crevier IS the largest dealership in the states. I thought Beverly Hills was. Crevier has 700ish new inventory vs Beverly Hills 600ish. Cool to know!

[Click821]

Dealer policy doesn't matter if you use a credit card for the deposit. All deposits, regardless of size or time in production can be obtained until the car is delivered and papers are signed. You can get it back even if you change your mind at the dealer about to take delivery if need be.

[piesauce]

My dealer let me know that I can back out at anytime. Best thing to do is just ask your dealer what their policy is.

[albertreet]

Originally Posted by Click821

Dealer policy doesn't matter if you use a credit card for the deposit. All deposits, regardless of size or time in production can be obtained until the car is delivered and papers are signed. You can get it back even if you change your mind at the dealer about to take delivery if need be.

What do you mean with the credit card?

[Click821]

Originally Posted by albertreet

What do you mean with the credit card?

You can put a cash deposit, check or use a credit card. Credit card policy gives you the advantage as oppose to being at the mercy of the dealership trying to get cash or a check back.

[ryem3]

Originally Posted by Click821

Dealer policy doesn't matter if you use a credit card for the deposit. All deposits, regardless of size or time in production can be obtained until the car is delivered and papers are signed. You can get it back even if you change your mind at the dealer about to take delivery if need be.

Exactly. Who needs dealer policy? If you back out, you got nothing of value, dispute the charge and your credit card company will credit the amount.

To second your other point, even if you show up, test drive it and don't like it.

If you are at a dealer, like a Cadillac dealer and order a manual car, they are going to be REALLY pissed if you walk away. With these cars, they'll be happy if you walk away. Ordered a red car from a dealer once and walked away. They were VERY anxious to change the color when I walked away.

Deposits are completely negotiable. Never leave a several thousand dollar deposit.

[mercedesc63]

Originally Posted by piesauce

My guy is asking for a $5,000 deposit. Is this what you guys have been putting down? I thought I heard from another dealer that $500 deposit was the amount.

Please let me know as I am working to get things situated before ordering.

I put 0 deposit to secure an allocation or locate a car.

[hoyasaxa]

Originally Posted by bmw-st

Exactly...

It varies from dealer to dealer. My dealership took $1,000 deposit, but I was told by the largest BMW dealership in the States (Crevier)...they don't even require deposit (and they had 1 in stock about a month ago because buyer backed out from the deal).

I would say $1,000 deposit is a fair amount. I wouldn't do $5,000, but that's just me. Good luck!

Funny, they told me the same thing in November about a customer backing out of that same deal...

[Stu Pedasho]

Originally Posted by ryem3

With these cars, they'll be happy if you walk away.

BINGO! Especially with a small, low volume M dealer. They don't get many allocations and they would really like to sell for $62K instead of MSRP.

I have two $1000 down at two dealers near me. Both small time. I'm #1 on one list and stopped calling the other because I was last at #8. As soon as I get my allocation I'm calling the other dealer and getting my $1000 back which I used a CC for. They will have no problem refunding me or I will show up at the dealer and, "Say Hello to my little friend!"

As stated by others ... no more than $1000 deposit. Dealers are aware that some of us have multiple deposits out there so they can ask for $2500 or more just to make sure you are for real.

[BEM-S4]

Since you cannot spec anything insane on the car and it's in such high demand there is no reason you need a nonrefundable deposit. My dealer told me I could get my $ back even if the car got to his lot bc it's such an easy car for them to move.

[gregzimm]

I've found deposits vary by dealer. I had a deposit with Co's BMW for 1 year 4 months and they gave me a refund just today as I just picked up an M2 that showed up with my build and no one on the wait list wanted it.

[DarkstarZero]

Originally Posted by piesauce

My guy is asking for a $5,000 deposit. Is this what you guys have been putting down? I thought I heard from another dealer that $500 deposit was the amount.

Please let me know as I am working to get things situated before ordering.

My dealer told me they wanted a $5000 deposit too. I told them I would give them a $500 deposit and they said OK.

You can tell them no, or find a different sales guy, as that's just a sales guy being a sales guy.

Can't wait until we can just buy cars off bmwusa.com and not have to deal with sleazy car salesmen.

[piesauce]

Originally Posted by DarkstarZero

My dealer told me they wanted a $5000 deposit too. I told them I would give them a $500 deposit and they said OK.

You can tell them no, or find a different sales guy, as that's just a sales guy being a sales guy.

Can't wait until we can just buy cars off bmwusa.com and not have to deal with sleazy car salesmen.

Amen to that.. Hit the build and price, build it, price it, purchase it. No hassling needed.