06-27-2021, 12:23 AM | #1 |
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Security Deposit Question
Tried a search but didn't quite see what I'm looking for. Finally moving ahead with jumping on a allocation list. Dealership I'm working with wants a security deposit.
Don't have a problem with it but seen a couple different prices between forums. What's typical and did anyone sign a SD contract? Not my first build with BMW but first time being asked for a SD (not my regular SA). I'm in California btw so know it's refundable, just trying to not get hosed refund or not.
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06-27-2021, 12:33 AM | #2 |
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Seems to vary dealer by dealer but the 2 I talked to in nor cal didn’t want a deposit and allowed me to build an allocation
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06-27-2021, 09:13 AM | #3 |
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Anywhere from 500-1000. I would use a trusty credit card in case you want to get a refund. A creditor would never side with the dealer for "non-refundable"
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06-27-2021, 09:15 AM | #4 |
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$1,000 seems to be the most normal (if they ask), however some form members have mentioned $2,500.
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06-27-2021, 09:56 AM | #6 | |
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I would give them $500, but not $5K for a car that might not get here for months.
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06-27-2021, 11:25 AM | #7 |
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I posted in the other thread my experience.
I paid BMW Camelback a $2,500 deposit for an allocation. I cancelled a week later because I found a car in NM. I took over 3 weeks to receive my refund back. My sales rep apparently didn't care enough to refund me and it took me e-mailing the GM to receive my refund back (same day, I may add) Hopefully my experience is isolated |
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06-27-2021, 12:54 PM | #8 |
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I was on the list without a deposit but when an allocation became available the 2 dealers I was talking with asked for $1k & $1.5k. The most I've heard is $2.5k.
But all were for confirmed allocations with a production no.
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06-27-2021, 01:07 PM | #9 |
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BMW Las Vegas is asking $5K non refundable.
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06-27-2021, 02:19 PM | #10 |
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06-27-2021, 03:47 PM | #11 |
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06-27-2021, 06:03 PM | #12 |
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Good lord. Things are so different depending on what market you're in. Remember, you can buy the car from any dealer in the country. Here in Texas, the cars or allocations I know about are straight forward, no-nonsense deals. If you want an M4 right now, they don't need nor will take a deposit on your custom build. Just sayin'.
Mark
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06-27-2021, 06:25 PM | #13 | |
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Quote:
If this is for an allocation waitlist, make sure it's refundable. If they won't do refundable, at the very least write in a date that if you don't have a production slot yet, then it's refundable.
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06-27-2021, 06:30 PM | #14 |
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Thanks all for the insight. The deposit is just to get on the list, no allocation. Waiting to hear back what my SA is expecting. As of now they don't have any allocations and there would be two people ahead of me if I decide to move forward.
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