[Zeroday]

Some have said here that deposits are refundable. I put down 1k$ on a 335i a few weeks ago and now I'm finding the lease rate I negotiated wasn't so hot. The car hasn't been signed for. If the deposit is not refundable then my negotiating leverage is obviously compromised. Legally do they have to refund my deposit if I ask for it? If so, what is the point of a deposit? Has anyone here been denied when they asked for their deposit back?

Any insight would be greatly appreciated. TIA

[Kuma]

Legally there is no contract until you drive the car off the lot. I would say they would have to return the deposit to you so long as you have not taken deliever of the car.

Ed

[drcain]

Did you sign anything? If you didn't sign anything I'd have to think it's refundable because I'm sure they'd have to have you sign something saying that it's NOT refundable. (redundant enough?)

Anyway, from reading some of the other posts on deposits, some dealers do refundable deposits, some don't, and it may even vary by state (ie: all deposits are refundable by law?). Maybe call some of the other BMW dealers in the area and see if they do refundable deposits. I mean if X other bmw dealers in the area have refundable deposits, then this place likely does too and this guy's giving you a hard time cuz he doesn't want to lose the commission on the sale...but if none of the other dealers have refundable deposits (I'd find hard to believe) then maybe this dealer really doesn't offer refunds and you'll have to fight a little more if you really want the deposit back.

I think it comes down to whether you signed something or not...

[gohawks23]

Zero, why don't you just call your CA and try to work it out? He doesn't want to lose a sale...just tell him you know he is marking up your MF to the max...tell him you are OK with him making some $ but how about at least splitting the difference?...ask him if he will do the same on acquision fee.

I bet he goes for it.

[IrvRobinson]

Deposits should always be refundable ! In some states,it's a law,so you might want to check.Most ethical dealers would refund a deposit with no questions asked, you simply changed your mind or your financial position has changed and you can't afford to do it at this time..

[ckm1515]

Originally Posted by Zeroday

Some have said here that deposits are refundable. I put down 1k$ on a 335i a few weeks ago and now I'm finding the lease rate I negotiated wasn't so hot. The car hasn't been signed for. If the deposit is not refundable then my negotiating leverage is obviously compromised. Legally do they have to refund my deposit if I ask for it? If so, what is the point of a deposit? Has anyone here been denied when they asked for their deposit back?

Any insight would be greatly appreciated. TIA

The only time I've ever been told a deposit is unrefundable is if I was to ordere a crazy color combination i.e. phoenix metallic yellow. Obv, if I bailed out of the transaction, dealer would have a real hard time moving that type of car. For all other cars, deposits are refundable. I always get it in writing from my dealer.

[zibawal]

I guess ED deposit should be refundable too, esp if you call off before 60 days into production/delievry?

[BenMW]

My dealership made me sign something that said the deposit was non refundable. Due to my options selected? Look at my sig to see what i ordered. 1k deposit

[JB BMW]

Originally Posted by BenMW

My dealership made me sign something that said the deposit was non refundable. Due to my options selected? Look at my sig to see what i ordered. 1k deposit

That paper does not mean much. I signed buy orders before that said my deposit was non-refundable and cancelled the deal and got all my money back. You shouldnt have a problem getting your money back. Call and cancel deal and say you want your refund. Shouldnt be a problem