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      07-21-2011, 01:18 AM   #1
Firthy247
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Hi my dealer called me last week asking me to spec up my m1. He has provisionally given me a build date of Dec 9th. Does this sound legitimate? He also wants a deposit of 2k which they will hold for 5 months. Does that sound right also. Seems a lot of money.

What is the situation with the deposit. Is it refundable if the car is not delivered on time.

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Neil
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      07-21-2011, 01:24 AM   #2
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Quote:
Originally Posted by Firthy247 View Post
Hi my dealer called me last week asking me to spec up my m1. He has provisionally given me a build date of Dec 9th. Does this sound legitimate? He also wants a deposit of 2k which they will hold for 5 months. Does that sound right also. Seems a lot of money.

What is the situation with the deposit. Is it refundable if the car is not delivered on time.

Regards

Neil
Seems a long time for a UK car, the deposit is easy - you get the dealer to give it to you in writing that in the event of failure to supply etc then the deposit is returned in full. When i did this last year i gave my dealer £1000 and this was before the car was even fully announced and he gave me both verbal and written confirmation that should the 1M not happen then my money was coming back to me.
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      07-21-2011, 02:48 AM   #3
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My initial deposit was £500 while mich of the 1M was speculation.

I chucked in another £3k when I placed the order so as long as it's an order then the £2k seems OK to me.

It was 4 months between my order and getting then car, Feb to June.
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      07-21-2011, 05:45 AM   #4
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Hmmm £2000 sounds like a lot more than most dealers are asking for.

I was asked for £1000 deposit when I placed my order in mid-June. I've now been given a delivery date of around the second week of October (so about 16 weeks as they originally estimated from order to delivery).

My "New Car Order" form clearly states at the bottom that "£1000 deposit will be refunded immediately if we are unable to fulfill the order." so I would ask for something similar in writing from them if you're happy to proceed.

What I would say though is that a bulletin went out from BMW UK on the 8th July to all dealers stating that the 1M was now "Sold Out". It may be that your dealer is taking a deposit from you to put you on a waiting list or submitting your order to BMW UK, just in case there are any cancelled orders. Any cancellations, will then be re-allocated to the next person on the list.

If it were me and I was asked for £2k, then I'd want assurances that they would definitely get me a car. If it was just to be "put on a list", then I'd offer a smaller deposit.
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      07-21-2011, 06:59 AM   #5
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I placed a deposit of £1000 on 7th July 2011 (OK, I admit, after the Top Gear feature finally pushed me into buying!). Whilst arguably just having limbo'd under the bar at the last minute for one of the very last of the UK's allocation of 1Ms, I yesterday got official BMW confirmation that a 1M has been allocated to me and is scheduled for build in Dec 2011 with delivery in Jan 2012. I'll pay another £1000 to spec the car sometime in the next couple of months - I'm thinking black and all the bits and bobs except elec powered seats
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      07-21-2011, 07:07 AM   #6
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All sounds normal. (You will need to put that deposit down to stake your claim!)

Yes, deposit is refundable.
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