buying from a dealer, leaving a deposit

[lumper]

Sorry to put this here, I wasn't sure where to post it really, it is about buying a type S New, if you want to move it to a different section please do.

I was wondering if there is anything I need to know to protect myself when leaving a dealership, a deposit.
I am going tomorrow to leave a deposit with one dealer who has promised me a car at MSRP after March 1st, the next available allocation, but to get in line for that they want a deposit, and I am ok with that, but I also have another dealership that is selling at msrp and if they come up with the car I want, and this dealership doesn't. I want to be able to get my deposit back without a fight.
I want to buy around March 15th or somewhere around then, I have been saving for a down payment, and in March I will have what I feel comfortable with.

Does anyone have any experience with this and or any tips or advice?

I want to stipulate with them when I leave the deposit that if they don't have the car I want after March 1st and before March 30th and another dealer does, that I expect to take my deposit back and buy from the dealer that has the car.

But it feels like this could be an issue, I know in the past I have had issues trying to get deposits back.
I normally wouldn't even bother leaving one but seeing how limited these cars are slowly dripping out to dealerships I understand it.

I'm going tomorrow for 11 am to talk to them and leave a deposit.

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[StingertimeNC]

That's exactly what I did. Just make sure you get something in writing saying it's refundable at any time. The dealer happily refunded me when my name came up at another dealer. No issues at all.

 

[Fanatic]

That's exactly what I did. Just make sure you get something in writing saying it's refundable at any time. The dealer happily refunded me when my name came up at another dealer. No issues at all.

+1

 

[ckone2030]

Sorry to put this here, I wasn't sure where to post it really, it is about buying a type S New, if you want to move it to a different section please do.

I was wondering if there is anything I need to know to protect myself when leaving a dealership, a deposit.
I am going tomorrow to leave a deposit with one dealer who has promised me a car at MSRP after March 1st, the next available allocation, but to get in line for that they want a deposit, and I am ok with that, but I also have another dealership that is selling at msrp and if they come up with the car I want, and this dealership doesn't. I want to be able to get my deposit back without a fight.
I want to buy around March 15th or somewhere around then, I have been saving for a down payment, and in March I will have what I feel comfortable with.

Does anyone have any experience with this and or any tips or advice?

I want to stipulate with them when I leave the deposit that if they don't have the car I want after March 1st and before March 30th and another dealer does, that I expect to take my deposit back and buy from the dealer that has the car.

But it feels like this could be an issue, I know in the past I have had issues trying to get deposits back.
I normally wouldn't even bother leaving one but seeing how limited these cars are slowly dripping out to dealerships I understand it.

I'm going tomorrow for 11 am to talk to them and leave a deposit.

I believe it is illegal for the dealership not to refund your deposit if you decide not to go through with the car for any reason. This has been discussed many times in this forum and other Facebook related groups. Hope this helps.

 

[SlippyFist]

they're refundable, don't sweat it. i initially put down a deposit for the TLX Type S and changed it to the ITS (without needing to do anything other than verbally tell them) and when I found the car I ended up buying at another dealership, I just called them to refund me. I ended up having to call them a bunch of times and leaving a manager an annoyed voice mail about it, but interpret that as an issue local to that dealership and not a global dealership issue

 

[RUNN1N]

I believe it is illegal for the dealership not to refund your deposit if you decide not to go through with the car for any reason.

This isn't always accurate.

they're refundable, don't sweat it.

This isn't always the case either.

The legality of a non-refundable deposit varies from state to state. Ohio's AG has a helpful guide for consumers on non-refundable deposits here, and your state may have similar resources available. Never assume you can void a contract (like a deposit on a purchase) without taking a hit. Dealerships are independent businesses, and their tactics and legal knowledge can vary greatly from one to the next.

When you're in the dealership, don't be afraid to ask outright, "Is this deposit refundable?" It's not rude to ask. If the answer is yes, I'd respond with, "Great, let me make sure I get that in writing as well." You don't know who will still be employed with the dealership when your car arrives in 3 months, or how reliable your salesperson is today with your deposit, so getting these details memorialized in writing is for their benefit as much as yours. I wouldn't want any terms put on if/when the deposit is refundable, let it be fully at your discretion.

I truly doubt a refundable deposit will be a dealbreaker for this dealership. Should you need to debate it with them, I'd highlight that if they sell at MSRP, they'll likely have a handful of other potential buyers ready to take the car if you decide to back out for any reason. They won't incur a hardship if you decide to back out, you shouldn't either.

 

[lumper]

Thank you everyone, this is all good information.
I went today and left a deposit.
Turns out I am the only guy on the list.
I plan to take delivery after March 1st but hopefully before March 30th.
If a car shows up early say mid Feb I will have an option on it, and he said we can work it, so we stall it two weeks or so if need be.
I only want one of three colors so that is the rub, hoping they get a color combo I like when I am ready.
Also set it up so no PDI or any prep from the dealer when the car comes in so I can take it too a local shop that will detail it for me and PPF & ceramic coat the car from the get-go.
I appreciate everyone's input.
I did get a receipt and I paid with a money order so I have that receipt as well, I don't have any issue with it as of now, next step is to cross my fingers and hope the car arrives in the next 12 weeks or so.
Thanks again.

 

[remowilliams]

I had two deposits down and a third large deposit that dealer was supposed to take and just never got around to it (they did sell me the car though)

Had no issues getting the two back, but made sure that they said refundable.

 

[lumper]

I had two deposits down and a third large deposit that dealer was supposed to take and just never got around to it (they did sell me the car though)

Had no issues getting the two back, but made sure that they said refundable.

nice, well they said it wont be an issue and I explained clearly the only reason I would even ask for it back in the first place, we should be ok.
I left $1k down today to put me on a list, turns out, I am the only one on the list, DOH!
But I made it clear, I want a car after March 1srt but before March 30th and one of three colors with an ebony interior so it will be interesting to see what happens.
15 weeks to go.

 

[Brian G]

Just an FYI, in most US climates, you may need all seasons if you pick the car up in March and may have to budget for that. If you pick the car up in April or later, you can probably get away with the PS4S that come on the car.

 

[lumper]

Just an FYI, in most US climates, you may need all seasons if you pick the car up in March and may have to budget for that. If you pick the car up in April or later, you can probably get away with the PS4S that come on the car.

we will see how it plays out.

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