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      11-28-2021, 12:38 PM   #1
Dreamer2014
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Canceling / backing out of deal

Never had to back out of a car deal before ..does anyone know the rules ...I'm sure I won't get my deposit back I'm not worried about that ... the car is still on the boat at this point I assume I could back out and just lose the deposit is that correct.
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      11-28-2021, 12:53 PM   #2
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You should be able to get your deposit back. As far as I know, most-if not all deposits are refundable unless stated or you ordered a unicorn….?
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      11-28-2021, 01:03 PM   #3
Dreamer2014
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Yeah I was thinking it was a possibility. Just wasn't sure if I was legally required to go through with the purchase.
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      11-28-2021, 01:58 PM   #4
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In this market you should get your deposit back, unless you've built a really awful car. Haha

Share your build here and perhaps someone will want to buy your car. Referring someone to your salesperson will assure that you get your deposit back too.
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      11-28-2021, 04:27 PM   #5
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Deposit should be refundable. My dealer emailed me a form that said it was refundable. It shouldn’t be a big deal either way, though. It’s not like you’re buying a Dodge. 🤣
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      11-28-2021, 08:35 PM   #6
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Deposit is refundable. These cars sell like hotcakes. I doubt the dealer will mind much.
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      11-28-2021, 10:33 PM   #7
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When you do an Individual color build, I've being told by two different dealerships that the $5K deposit is non-refundable.
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      11-29-2021, 11:37 AM   #8
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To OP,

What are the specs on the car?
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      11-29-2021, 03:37 PM   #9
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Quote:
Originally Posted by Dreamer2014 View Post
Never had to back out of a car deal before ..does anyone know the rules ...I'm sure I won't get my deposit back I'm not worried about that ... the car is still on the boat at this point I assume I could back out and just lose the deposit is that correct.
I believe if you cannot be approved for a loan for that car, the dealer must/should refund your deposit.
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      11-30-2021, 11:28 AM   #10
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It depends, my dealer specified it was refundable until the car locked into production, after it was no longer refundable. But you don't have to buy the car if you don't want to, at most just loose deposit.
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      12-01-2021, 05:22 PM   #11
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Snapper Rocks.. extended Silverstone... Dark carbon structure trim.. regular brakes.. wheels are the bispoke.. Competition Pack. However after looking at the paperwork where I agreed to the price ,I did sign where it said non-refundable deposit... Looks like I better go ahead and enjoy the car. 😂. being that they required a 10% deposit.
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      12-01-2021, 06:03 PM   #12
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Quote:
Originally Posted by BarryB View Post
You should be able to get your deposit back. As far as I know, most-if not all deposits are refundable unless stated or you ordered a unicorn….?
well there you go....and enjoy that awesome build...
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      12-01-2021, 08:31 PM   #13
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well there you go....and enjoy that awesome build...

Yeah I had not looked closely at the handwriting..lmao. I was so stoked at the time
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      12-01-2021, 08:35 PM   #14
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Quote:
Originally Posted by Dreamer2014 View Post
Snapper Rocks.. extended Silverstone... Dark carbon structure trim.. regular brakes.. wheels are the bispoke.. Competition Pack. However after looking at the paperwork where I agreed to the price ,I did sign where it said non-refundable deposit... Looks like I better go ahead and enjoy the car. 😂. being that they required a 10% deposit.
I’m sorry, but a 10% non-refundable deposit is ridiculous, even if it was for an individual order. Which dealership charged you 10% on an order with standard colors and options?

My dealership has always done $1,000 refundable deposit on ordered cars.
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      12-01-2021, 08:43 PM   #15
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I saw a snapper rocks 4 something Gran Coupe on my way home tonight. It looked great, can’t wait to get mine.
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      12-01-2021, 09:38 PM   #16
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Quote:
Originally Posted by AGS View Post
Quote:
Originally Posted by Dreamer2014 View Post
Snapper Rocks.. extended Silverstone... Dark carbon structure trim.. regular brakes.. wheels are the bispoke.. Competition Pack. However after looking at the paperwork where I agreed to the price ,I did sign where it said non-refundable deposit... Looks like I better go ahead and enjoy the car. 😂. being that they required a 10% deposit.
I’m sorry, but a 10% non-refundable deposit is ridiculous, even if it was for an individual order. Which dealership charged you 10% on an order with standard colors and options?

My dealership has always done $1,000 refundable deposit on ordered cars.
Same. I ordered an M550i but had debated between it an M5C and the deposit amount was the same for both and fully refundable. They then actually never even took it or placed a hold on my CC.
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      12-02-2021, 12:22 PM   #17
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I purchased my M5 from a dealership in a small town that indicated they may sale one M5 per year. I was required to pay a $5k non-refundable deposit prior to the car being ordered. I had to sign a document acknowledging the deposit is non refundable.
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      12-02-2021, 05:19 PM   #18
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Yeah I thought the 10% was kind of excessive... Leaving that much money at the dealership and walking away with no vehicle for several months was really hard to do.. 😳
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      12-03-2021, 08:53 PM   #19
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Thumbs up

What an awesome build. I think it is desirable, and M5's are hard to get now. I would ask the dealer if they will let you out. They may have people lined up to get it. Also, you may be able to sell it for a profit...

Quote:
Originally Posted by Dreamer2014 View Post
Snapper Rocks.. extended Silverstone... Dark carbon structure trim.. regular brakes.. wheels are the bispoke.. Competition Pack. However after looking at the paperwork where I agreed to the price ,I did sign where it said non-refundable deposit... Looks like I better go ahead and enjoy the car. 😂. being that they required a 10% deposit.
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      12-09-2021, 08:20 AM   #20
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Quote:
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Yeah I thought the 10% was kind of excessive... Leaving that much money at the dealership and walking away with no vehicle for several months was really hard to do.. 😳
Ask the dealership to keep that deposit for the next car. If they are looking to build a long term relationship with their customers they may comply with your request.
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      12-09-2021, 08:49 AM   #21
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This whole situation is really odd… first of all a 10% deposit period is almost unheard of, let alone a non-refundable one. I don't know how else to read that other than the dealer, for whatever reason, didn't view you as a serious customer (and I guess they were correct?). Do you have any kind of relationship/prior purchases with this dealership? I mean, do they require non-refundable 10% down for everybody? Hard to imagine they'd sell very many cars that way.

Then, you seem resigned that you'd just lose that deposit and pass on the car, but also mention it was hard to walk away from the dealer leaving the deposit after placing the order? No offense intended, but there's either a lot of missing info in this story or you are just really bad with money!
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      12-12-2021, 12:03 PM   #22
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Quote:
Originally Posted by CosmicCharlie View Post
This whole situation is really odd… first of all a 10% deposit period is almost unheard of, let alone a non-refundable one. I don't know how else to read that other than the dealer, for whatever reason, didn't view you as a serious customer (and I guess they were correct?). Do you have any kind of relationship/prior purchases with this dealership? I mean, do they require non-refundable 10% down for everybody? Hard to imagine they'd sell very many cars that way.

Then, you seem resigned that you'd just lose that deposit and pass on the car, but also mention it was hard to walk away from the dealer leaving the deposit after placing the order? No offense intended, but there's either a lot of missing info in this story or you are just really bad with money!
Hahaha...no I'm really really good with money..that's why I'm able to afford a car like this on a 45000 per year gross income. Just was entertaining the idea of going a different direction.
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