[BimmerNooob]

Hey friends...

Due to the recession/crazy economy hitting my family particularly hard over the last 6 months and having to go back and forth between VA and GA to help out, I won't be able to purchase my G87 M2. I'm writing here to see what my options are...

I recently got notified that my G87 is about to go into production - it is a ZB, 6MT w/ Shadowline, Lighting, Live Cockpit, Carbon trim, Sunroof at MSRP

I told my sales guy my situation and he said my deposit is non-refundable ($1500), but he said I should still take delivery and flip the car and he GUARANTEES that I will at least break even.

Not sure what to do here, and I have been looking at the used car market for it to see if the above is true, but wanted to get some feedback from the community. There's also the hassle of having to finance the car and in the current situation I'm in there is no way I would be able to continue paying a car loan for 5-6 months.

I'm not trying to flip the vehicle to make a profit and that was never my intention when I put my deposit down back in October. But, any opinions and insights as to the market , especially in the Mid-Atlantic / DMV area would be much appreciated.

Thank you...

[Ravenseal]

You’re not going to make any money selling the car - not after tax, tag, and title. You’re better off selling the allocation to someone else and getting your deposit back.

[Carefree]

Originally Posted by BimmerNooob

Hey friends...

Due to the recession/crazy economy hitting my family particularly hard over the last 6 months and having to go back and forth between VA and GA to help out, I won't be able to purchase my G87 M2. I'm writing here to see what my options are...

I recently got notified that my G87 is about to go into production - it is a ZB, 6MT w/ Shadowline, Lighting, Live Cockpit, Carbon trim, Sunroof at MSRP

I told my sales guy my situation and he said my deposit is non-refundable ($1500), but he said I should still take delivery and flip the car and he GUARANTEES that I will at least break even.

Not sure what to do here, and I have been looking at the used car market for it to see if the above is true, but wanted to get some feedback from the community. There's also the hassle of having to finance the car and in the current situation I'm in there is no way I would be able to continue paying a car loan for 5-6 months.

I'm not trying to flip the vehicle to make a profit and that was never my intention when I put my deposit down back in October. But, any opinions and insights as to the market , especially in the Mid-Atlantic / DMV area would be much appreciated.

Thank you...

This illustrates the importance of reading and understanding a signed contract. Your dealer has the right to keep the money, but in reality he knows the car will sell quickly. So, given your situation returning the deposit would be a kind gesture on his part and perhaps benefit his business long term. All of course IMO.

[BimmerNooob]

Originally Posted by Ravenseal

You’re not going to make any money selling the car - not after tax, tag, and title. You’re better off selling the allocation to someone else and getting your deposit back.

That is what I figured as well. I guess I can move this post to the correct forum - and to be clear, I'm not trying to make any money out of it, just getting my deposit back.

[BimmerNooob]

Originally Posted by Carefree

This illustrates the importance of reading and understanding a signed contract. Your dealer has the right to keep the money, but in reality he knows the car will sell quickly. So, given your situation returning the deposit would be a kind gesture on his part and perhaps benefit his business long term. All of course IMO.

You're right, I knew and have known from the start that my deposit was non-refundable. I just never thought I would be in my current situation :/

[c1pher]

Originally Posted by Ravenseal

You’re not going to make any money selling the car - not after tax, tag, and title. You’re better off selling the allocation to someone else and getting your deposit back.

By the time you pay dealer fees, tax, tags and title, you will need to sell probably at least $10k above what the sticker was to break even. I'm not saying you wouldn't but might be somewhat tough. I think you're better off just losing the deposit. The dealer is incentivized to move the unit and get it off their hands, then it's your problem. They won't have an issue selling it, so just walk knowing it's the lesser of two evils.

[Ravenseal]

Originally Posted by BimmerNooob

That is what I figured as well. I guess I can move this post to the correct forum - and to be clear, I'm not trying to make any money out of it, just getting my deposit back.

Yeah. I’m sure plenty of people on this forum will take it off your hands if you post all the details. Just let the dealership know you want give the allocation to a “friend”. They shouldn’t bark too hard if the person is semi-local to where the dealership is.

[Game]

Unless you signed a form that made that deposit non refundable, not sure how they can legally not refund you.

[Trogster]

Originally Posted by Game

Unless you signed a form that made that deposit non refundable, not sure how they can legally not refund you.

Check your local State laws in respect to deposits and down-payments.

Unless you're legally culpable, you can request your credit card company to reverse the charge (presuming you paid the $1500 on your CC).

(NB: This is not legal advise.)

[sl0m0]

I doubt you would be anywhere close to breaking even, but someone might like to jump the line and might compensate you +/-500 for your spot in line, best solution I can see. It's a bummer, but taking the hit for 1.5k is the next best option. Or talk to the sales manager about what it means to them to avoid bad reviews since they will clearly be able to give the allocation to the next person in line with no loss, especially if they want your business once the economy changes for you.

[Squidget]

No way you are guaranteed to break even. Most dealers would courtesy refund you because the G87 is easy to sell, so $1500 isn't really worth client badwill.

I'd negotiate with them, ask to be escalated a few times, see if they will budge. Threaten them with bad google reviews (they often DO care about that, despite what they say), and that you will say they aren't willing to compromise. They don't like that rep.

But at the end, if they won't budge (a shortsighted position IMO), it is probably best to walk away. (And leave a bad review.)

[RockCrusher]

Sales guy says..

He's going to tell you your deposit is non refundable to force you to buy. All he cares about is the sale and his commission.

Did you speak to the salesmanager/general manager?

But before you do research laws of your state regarding deposits. And read the fine print of whatever documents you signed to order the car.

You might even try to get a consultation with an attorney. He might be able to offer you advice regarding how to ask for your deposit back.

[wb8164]

Why not ask the your sales guy if he has someone who wants to jump into your slot? That way the salesman keeps the sale and you get your deposit reimbursed... Just a thought.

[AlpsRider]

I would talk to the GM. They want to make money but creating bad blood in the age of the internet isn't wise.

[cmgbk75]

I would go over your CA’s head and speak to a SM or the GM. They’re going to move this car instantly, it’s not an X3 or XM. Additionally, check the paperwork you signed and your local laws regarding Deposits. Short of that, someone here will most likely take that Allocation, but post it quickly before it goes into 150 and the VIN is issued.

Sorry for your loss, hopefully you’ll be back here soon!

[BimmerNooob]

yes, ive posted a take over the allocation for $0 return, just taking it over on the marketplace area!

[M_Power Rob]

Originally Posted by BimmerNooob

yes, ive posted a take over the allocation for $0 return, just taking it over on the marketplace area!

You may want to post it here.

https://g87.bimmerpost.com/forums/sh...2009355&page=6

[DailyDownshift]

Hey buddy, seems like your best option is to simply sell the allocation to someone for $1500 since you already have a $1500 deposit on the vehicle. That means you get your money back and the person who buys the car is still paying MSRP. If the car is about to go into production, it seems like you have about 4-6 weeks to find someone which should be easy enough I'd say.. Good luck!

[turo]

Hey OP you’re in North VA, right? The dealers around here all have 30+ people on their waiting list, so I’m SURE you can find someone to buy you out of your slot! Hell, if it was black and auto, I’d buy your slot instantly.

[buckybadger]

The dealer is greedy and looking to maximize profits in this situation.
In your situation, try to get the deposit, escalate it up the chain and if no luck then bite the bullet. Forget about it, take it as a life lesson and move on, assuming that you can’t find someone else to take your allocation.

[///M TOWN]

Talk to the GM over the entire store

Escalate it to BMW for assistance…

If you don’t ask the answer is NO ❕

[///M TOWN]

Originally Posted by AlpsRider

I would talk to the GM. They want to make money but creating bad blood in the age of the internet isn't wise.

Exactly

Like minds…

I’d go completely Elon musk on these people until I got my money back.
End of story.