BMW Garage BMW Meets Register Search Today's Posts Mark Forums Read
BMW M2 Forum > Pricing / Ordering / European Delivery / PCD > Dealer Deposite

Post Reply
 
Thread Tools Search this Thread
      02-19-2016, 08:57 PM   #1
Hoonigan808
Private
United_States
8
Rep
57
Posts

Drives: VF620 E90 M3
Join Date: Dec 2015
Location: LA

iTrader: (0)

Dealer Deposite

Anyone know anything about dealers in CA taking deposits before they have allocations? I heard that it is Illegal?
Appreciate 0
      02-19-2016, 09:13 PM   #2
cntzl
Colonel
cntzl's Avatar
United_States
3457
Rep
2,985
Posts

Drives: 2019 M2C 6MT
Join Date: Mar 2015
Location: San Mateo, CA

iTrader: (0)

Well it's a refundable deposit. I have $1000 deposit each at two different dealers in Bay Area.
Appreciate 0
      02-19-2016, 09:55 PM   #3
Bunyfofu69
Private First Class
37
Rep
109
Posts

Drives: 2006 325
Join Date: Aug 2010
Location: San diego

iTrader: (2)

Question. Did you have to fill out a credit app to put down a deposit? My dealership wants me to do one, even though I'm paying cash.
Appreciate 0
      02-19-2016, 11:04 PM   #4
Hoonigan808
Private
United_States
8
Rep
57
Posts

Drives: VF620 E90 M3
Join Date: Dec 2015
Location: LA

iTrader: (0)

Quote:
Originally Posted by Bunyfofu69 View Post
Question. Did you have to fill out a credit app to put down a deposit? My dealership wants me to do one, even though I'm paying cash.
No they did not do that. Although, they agreed on MSRP when i signed the paper agreeing to an allocation. Now the dealer is asking for over MSRP. That being said, I was wondering if it is illegal for a dealer in CA to take my money before they even have an allocation? If so i want to use this against them as leverage.
Appreciate 0
      02-19-2016, 11:34 PM   #5
fuddman
Major
342
Rep
1,392
Posts

Drives: 528-maybe
Join Date: Aug 2010
Location: California

iTrader: (0)

Quote:
Originally Posted by Hoonigan808 View Post
.... they agreed on MSRP when i signed the paper agreeing to an allocation.
If you and the dealer signed a piece of paper, IMO, that's a legally binding contract. You need to understand the terms of the contract.
If the conditions of the signed contract requires (a) you to provide a certain down payment and (b) the dealer to sell you the car for MSRP, then, if you've fulfilled your end of the contract, he's required, by law, to complete his end of the contract.
There is no leverage involved contracts. There is law involved in contracts.
Appreciate 2
      02-20-2016, 03:51 AM   #6
dammitcubs
Captain
No_Country
559
Rep
691
Posts

Drives: '16 M2 LBB
Join Date: Oct 2015
Location: San Jose

iTrader: (0)

Quote:
Originally Posted by Hoonigan808 View Post
No they did not do that. Although, they agreed on MSRP when i signed the paper agreeing to an allocation. Now the dealer is asking for over MSRP. That being said, I was wondering if it is illegal for a dealer in CA to take my money before they even have an allocation? If so i want to use this against them as leverage.
Wow....what a douchebag move.

What dealer is this?
Appreciate 0
Post Reply

Bookmarks

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off


All times are GMT -5. The time now is 12:49 AM.




m2
Powered by vBulletin® Version 3.7.0
Copyright ©2000 - 2018, Jelsoft Enterprises Ltd.
1Addicts.com, BIMMERPOST.com, E90Post.com, F30Post.com, M3Post.com, ZPost.com, 5Post.com, 6Post.com, 7Post.com, XBimmers.com logo and trademark are properties of BIMMERPOST