View Full Version : Dealer wants a deposit. Advice please!


linus809
03-17-09, 10:56 PM
I'm about to make a purchase (2009 CTS). The dealer will change an order he has in the GM production system with an order for a vehicle that has my specs (manual transmission, color I want, etc.)

He is asking that I put down $2000 in deposit.

I've interacted with him via the internet and over the phone. Haven't physically met the salesperson. I think the dealer reputation is pretty good.

We've agreed on the price: Invoice plus any incentives in effect at time of delivery.

What do I need to do before I actually plunk down the deposit? (I have indicated that I want to put down a lot less than $2K; waiting to hear back.)

My concern: the car arrives and dealer won't honor the price (Invoice less incentives). His concern: the car arrives and I won't purchase.

Your advice is greatly appreciated.

TSS
03-18-09, 11:38 AM
How about car arrives and you don't like it or it is damaged and you don't want a repiared new vehicle? 2K is a lot for a deposit. I usually pay 500.00 deposit with my dealer and write on the contract that when the vehicle arrives, If I don't want it for any subjective reason at all, I can decline and get my deposit back. Who cares if it arrives and you don't take it? They alreday have a car on order, a change in options/colors does not make it unsellable. Good luck!

linus809
03-18-09, 12:11 PM
How about car arrives and you don't like it or it is damaged and you don't want a repiared new vehicle? 2K is a lot for a deposit. I usually pay 500.00 deposit with my dealer and write on the contract that when the vehicle arrives, If I don't want it for any subjective reason at all, I can decline and get my deposit back. Who cares if it arrives and you don't take it? They alreday have a car on order, a change in options/colors does not make it unsellable. Good luck!

When you do put the deposit down, the sales contract you sign indicates the total price, right? Does the sales contract also include wording that the balance due will include any incentives at the time the car is delivered?

Sandy
03-18-09, 12:22 PM
The dealer wants a large D/P because it's a manual tranny car. Do you know how hard & how long that car might be laying around, IF you change ya mind? I'd bet 7-9 months!! Paying floor plan all that on YOUR car !

#2. Believing that he his selling you this new car at his cost (INVOICE) is akin to believing that Santa comes down your chimney! They are not the Red Cross!

(That is unless the dealer is your Dad, Uncle, brother....)

Put down $1,000 and order the car. Tell the Salesman your add'l. $$ is tied up in a CD that will come due in 5 weeks.

c5 rv
03-18-09, 01:08 PM
The dealer wants a large D/P because it's a manual tranny car. Do you know how hard & how long that car might be laying around, IF you change ya mind? I'd bet 7-9 months!! Paying floor plan all that on YOUR car !


A number of Cadillac dealers got burned when the CTS first came out and they ordered some manual transmission cars on encouragement from GM. No one wanted them.

TSS
03-18-09, 01:54 PM
They already have a car on order, a change in options/colors does not make it unsellable. Good luck!

I stand corrected, as outlined above. I completely missed the manual tranny thing - thanks Sandy and Greg for correcting me.

And, yes, the contract has a price certain already negotiated +/- incentives in place when vehicle arrives.

Sandy
03-19-09, 10:46 AM
Any incentives announced while your car is on order, should be decucted from the car's price & given to you. at delivery.

z06bigbird
05-04-09, 10:39 PM
I'm about to make a purchase (2009 CTS). The dealer will change an order he has in the GM production system with an order for a vehicle that has my specs (manual transmission, color I want, etc.)

He is asking that I put down $2000 in deposit.

I've interacted with him via the internet and over the phone. Haven't physically met the salesperson. I think the dealer reputation is pretty good.

We've agreed on the price: Invoice plus any incentives in effect at time of delivery.

What do I need to do before I actually plunk down the deposit? (I have indicated that I want to put down a lot less than $2K; waiting to hear back.)

My concern: the car arrives and dealer won't honor the price (Invoice less incentives). His concern: the car arrives and I won't purchase.

Your advice is greatly appreciated.

If you were running a business, and your customer asked you to order $30,000 worth of stuff, how much of a down payment would you want?

If customer disappeared, would your business keep your deposit, or would your business refund the money?

Do some role playing here.

z06bigbird
05-04-09, 10:41 PM
The dealer wants a large D/P because it's a manual tranny car. Do you know how hard & how long that car might be laying around, IF you change ya mind? I'd bet 7-9 months!! Paying floor plan all that on YOUR car !

#2. Believing that he his selling you this new car at his cost (INVOICE) is akin to believing that Santa comes down your chimney! They are not the Red Cross!

(That is unless the dealer is your Dad, Uncle, brother....)

Put down $1,000 and order the car. Tell the Salesman your add'l. $$ is tied up in a CD that will come due in 5 weeks.

Ahah!! Now I know where the dealers learn these little fibs!!

z06bigbird
05-04-09, 10:42 PM
I have seen lux cars with manual trannies sit for over 18 months at some dealerships. Sad part is no one knows how to drive a standard today.

When many of us grew up, we typically learned how to drive one.