$2500 NON-refundable Deposit?

[Sir Loin]

Originally Posted by Racer20

I put down the deposit. My receipt for the deposit states "1st M3 allocation, will honor ED pricing." We'll see how it goes.

You may need a better definition of "ED pricing" from your dealer. Available info so far has it that ED will mostly likely come out of dealers' allocation, effectively making ED pricing the same as MSRP. If that is true, then your deal just locks you in for MSRP pricing, except it is non-refundable.

[fuddman]

Originally Posted by Racer20

I put down the deposit. My receipt for the deposit states "1st M3 allocation, will honor ED pricing." We'll see how it goes.

Good for you. "Nothing ventured nothing gained."
Date of the first M3 allocation should be available to the dealer shortly and you may be getting one of the first to the US market. Have you got it spec'ed out already?

[gee-m-w]

Michigan is a very dealer friendly state. I'd guess the laws there allow for non refundable deposits, but you should check. It's illegal in CA, or rather it's not enforceable.

[Mako]

I am pretty sure non refundable deposits on cars is illegal in every state. I had a dealership by me say they wouldn't give my $500 deposit back and I just filed a claim with my CC, they removed the charge the next day. Always use a CC for deposits!

that said, I believe ED might be a bit different, I thought I saw somewhere that a non refundable deposit is required for ED but its only Non refundable once the car has entered into production. It was something about the expenses of setting up european delivery vs a normal production car.

[chicagofan00]

Originally Posted by chicagofan00

One of the local dealerships here is also requesting a $3,000 non-refundable deposit, however it's only non-refundable after the M3 actually goes into production but is refundable any time up until then. Thoughts?

I actually ended up going to another dealer here in AZ and I'm now third on the list for the M3 and no deposit was required at the time. They will require the deposit once pricing is released and they can actually put the order in. It will be a $2,000 refundable deposit. They said that in AZ it is not legal to do a non-refundable deposit. Interesting how different the stories are between dealerships...

[RealStig]

I paid nada zip when i pre ordered.

[dmk08]

Originally Posted by RealStig

I paid nada zip when i pre ordered.

Do you have a previous relationship with the dealer? Ordered many cars from them before?

Personally this is my first brand new BMW order and the financing options are staring to run together. Definitely need to spreadsheet it all out lol.

[RealStig]

Originally Posted by dmk08

Do you have a previous relationship with the dealer? Ordered many cars from them before?

Personally this is my first brand new BMW order and the financing options are staring to run together. Definitely need to spreadsheet it all out lol.

Yes but the people I worked with before no longer work here. Regardless of what a dealership says I would never put money down as deposit, even if its refundable, because they can make it really difficult if you want to back out. When ordering a car, its totally different. Pricing is agreed, your finance/lease app is submitted to bmwfs, so its official. With preorders your name doesnt actually leave their systems until bmw announces pricing and you give them the go ahead.

[pacent]

Do we have any confirmation yet on whether or not ED will come out of dealer allocations?

[dmk08]

Originally Posted by RealStig

Yes but the people I worked with before no longer work here. Regardless of what a dealership says I would never put money down as deposit, even if its refundable, because they can make it really difficult if you want to back out. When ordering a car, its totally different. Pricing is agreed, your finance/lease app is submitted to bmwfs, so its official. With preorders your name doesnt actually leave their systems until bmw announces pricing and you give them the go ahead.

Gotcha. Thanks for the info. Next time I will push back on putting anything down. I already have my 1k down at this point. At least it's refundable.

[M5Rlz]

I got under msrp granted i've bought so many cars they're probably losing nothing and get to sell a car lmao. I also only had to put 1k down. I wouldn't do 2500 NON refundable... I'd tell them to kick rocks.

[Hobbination]

just dropped a grand in Hawaii....refundable, ED too

[mlai]

I so envy you guys in US...... I had to pay USD19K equivalent as non-refundable deposit for my M4 vert And the M4 costs over USD150k+ here before options......

[lopezx90]

i left a deposit on my local dealer for an M4, I specified i wanted to do European delivery since i want my payments to be on the $700 to $800. Now they are saying that they are not doing any European delivery for at least a year.

Anyone of you who works for BMW want to take my deposit and let me do ED or get ED pricing.

[GOLFFRR]

^^Going to be tough to find dealers who will want to do ED orders if ED orders DO end up coming out of US allocations and especially if dealers only get a small amount of allocations. The car is hot and there is a lot of demand for it right now as with anything new. So don't expect to find insane deals at the beginning. You want to be one of the first to have the car you are going to have to pay. plain and simple.

Hopefully everything dies down later down the road (which it always does) and then people can start getting some great deals. I saw the same thing happen with f10 M5. when it first came out we only got 1-2 allocations a month and we couldn't discount the car. Fast forward to now a couple years later and I believe David is selling them at invoice or close to invoice not sure.

however only time will tell.

[lopezx90]

Originally Posted by GOLFFRR

^^Going to be tough to find dealers who will want to do ED orders if ED orders DO end up coming out of US allocations and especially if dealers only get a small amount of allocations. The car is hot and there is a lot of demand for it right now as with anything new. So don't expect to find insane deals at the beginning. You want to be one of the first to have the car you are going to have to pay. plain and simple.

Hopefully everything dies down later down the road (which it always does) and then people can start getting some great deals. I saw the same thing happen with f10 M5. when it first came out we only got 1-2 allocations a month and we couldn't discount the car. Fast forward to now a couple years later and I believe David is selling them at invoice or close to invoice not sure.

however only time will tell.

You think if i keep it simple like $68 taking us delivery i'll be in $700 to $800 monthly payments?

[GOLFFRR]

I don't know. I am assuming you are talking lease numbers?

to many variables come into play (MF, residuals, credit, down payments, MSD, price of car, taxes, etc..) for me to make any assumptions. Every buyer is different

[Racer20]

My dealer is still saying they'll honor ED pricing. M cars don't sell well in my area, and most M customers go to a different dealer, so I'm guessing they don't consider this car "hot" since it will probably sit on their lot for a at least a while and they still don't have orders.

[lopezx90]

Originally Posted by Racer20

My dealer is still saying they'll honor ED pricing. M cars don't sell well in my area, and most M customers go to a different dealer, so I'm guessing they don't consider this car "hot" since it will probably sit on their lot for a at least a while and they still don't have orders.

what's the name of your dealer? I'll take my deposit to your dealer!!