$3,000 Deposit?

[dconn]

I talked to another dealer that told me a similar upfront deposit. He said that so many people are walking out on cars post production that this has become necessary for them to not lose money. Granted, a lot of dealers are still accepting $1,000. I'll get it back when I pickup the car but I agree I would hate for something to happen and/or be without $3,000 for at least 3 months. Not sure what I'm going to do yet. Thanks for the input.

[ARES45]

Remember, everything is negotiable especially these days.

[former]

If you feel uncomfortable, I would suggest finding another dealer that helps you feel more comfortable. It is your money and your car. The least they can do is work with you - lord knows that they certainly have the time these days.

I put down $2k on my Euro Delivery, but didn't have any concern because in CA I still could have walked away up until they licensed in in Germany (2-3 weeks prior to pick up) and in general in CA it's fully refundable.

To each their own, but do what you feel comfortable with and you'll have less stress overall with the deal and the process. :smile:

[SF_VR6]

Originally Posted by dconn

I'm about to sign on my car and the dealer tells me it is going to be a $3,000 upfront deposit because my car is a fully optioned manual. Here are the dealer's words:

"The average deposit is $1,000 however, a manual transmission, fully optioned BMW, requires a $3,000 deposit. (Please understand this is not my policy but the Owner's policy.)"

Has anyone seen or heard of this before?

I ordered mine with a verbal agreement for 1000 bucks down but the dealer never swiped my credit card.

It sounds unusual for a dealer to require so much for car order, especially being on its second year.

[BlackjackMulligan]

Originally Posted by singular

At 1% for 3 months that about $7.50.

But I agree, $3K is too much. I'm negotiating with three dealers right now none of which has pushed back on my $1K down offer.

Dude if you're getting 1% on your money then you need to change banks.

The main thing is that the dealer is trying to take advantage, or make him feel like he's stuck. My dealer took $1K, I wouldn't recommend a penny more.

[dconn]

Like I said, I also agree that it is far to much. However, I'm torn on it because I'm getting a pretty nice deal and before it's all said and done I'm probably going to get all fees waived, floor mats and a tint job. I haven't said flat out I'll put $1,000 down take it or leave it yet but maybe I will and just see where it goes. Obviously I'm not backing out on the purchase but I can understand where the dealer is coming from. Again, I appreciate everyone's input and I won't be had by a dealer trying to get what he wants. As much as I want the car, I will walk if need be.

[former]

Originally Posted by dconn

As much as I want the car, I will walk if need be.

You won't go wrong at all with that approach. :thumbup: Just stick to what you want and be secure in the fact that it is a buyers market right now. Good luck with whatever you decide.

[mywifestolemy1]

....they were ready to give me all sorts of cars to drive while I waited on delivery. But then they decided they really wanted to sell me this 135 vert they had....with nuttin down....and a "just come and close on the paperwork when you have time..oh, and do you mind if we pay down half of your X3?"

Anyone think the 135 is becoming more and more desirable a BMW as the economy tanks and that deposits are becoming more important as people's economic situations are changing daily?

Originally Posted by dconn

I'm about to sign on my car and the dealer tells me it is going to be a $3,000 upfront deposit because my car is a fully optioned manual. Here are the dealer's words:

"The average deposit is $1,000 however, a manual transmission, fully optioned BMW, requires a $3,000 deposit. (Please understand this is not my policy but the Owner's policy.)"

Has anyone seen or heard of this before?

[ptack]

I'll bet you dollars to donuts that they drop the $3k to $1k if you tell them "no thanks, I've found another dealer". They are in NO position to make even the usual demands right now.