Cancelling a 1M Order
Discussion
I am in a very awkward position. I ordered a 1M in July this year and it is due to arrive next week. It is becoming clear that I really cant afford this car. I am hugely embarrassed as I am not the sort of person that normally reneges on a deal.
My question is what are my options? What happens if I just refuse it at the dealers? Is there still a strong market for new 1Ms? Will they be able to sell the car easily enough? Am I better to buy the car from the dealer and then shift it on the private market?
Any advice would be gratefully received at this point!
My question is what are my options? What happens if I just refuse it at the dealers? Is there still a strong market for new 1Ms? Will they be able to sell the car easily enough? Am I better to buy the car from the dealer and then shift it on the private market?
Any advice would be gratefully received at this point!
How much deposit did you pay?
If ou don't take the car, you will lose this deposit.
The 1M seems sought after, so you could either
1. Talk to the dealer, explain that you have had a change of circumstances and what can they do for you re selling it to someone else and easing your pain; or
2. Talk to someone like Tom Hartleys who might take the car on delivery day and sell it for you as a 0 miles second hander. They might even try to get over list for it as they're all sold.
Mermaid said:
14 on sale on PH's, cheapest one is a shade under 40k.
If you can get your deposit, that would be a win.
What's the list price on your car?
I count 4 for sale. The one under £40k having just sold via ph. Or am I missing something?If you can get your deposit, that would be a win.
What's the list price on your car?
List price for car delivered is £43,580. High spec with pro nav, HK stereo and a few other bits.
benji90 said:
Mermaid said:
14 on sale on PH's, cheapest one is a shade under 40k.
If you can get your deposit, that would be a win.
What's the list price on your car?
I count 4 for sale. The one under £40k having just sold via ph. Or am I missing something?If you can get your deposit, that would be a win.
What's the list price on your car?
List price for car delivered is £43,580. High spec with pro nav, HK stereo and a few other bits.
benji90 said:
Mermaid said:
14 on sale on PH's, cheapest one is a shade under 40k.
If you can get your deposit, that would be a win.
What's the list price on your car?
I count 4 for sale. The one under £40k having just sold via ph. Or am I missing something?If you can get your deposit, that would be a win.
What's the list price on your car?
List price for car delivered is £43,580. High spec with pro nav, HK stereo and a few other bits.
Mermaid said:
benji90 said:
I count 4 for sale. The one under £40k having just sold via ph. Or am I missing something?
OK, I thought there were quite a few more. I was counting private & trade together.
There are still only 4 cars, one of which is sold.....................
OP, I would speak to the dealer they may be able to sell the car on without issue and without you losing your £1k, I can't see them coming after you for any loses as that would be a massive PR fail.
Soovy said:
I think you should be aiming to get 1k over list for it from Tom Hartley or Romans, pay the balance to BMW and walk away with a bit of cash.
Soovy said:
I think you should be aiming to get 1k under list for it from Tom Hartley or Romans, pay the balance to BMW and walk away with a bit of cash.
It's make your mind up time!onesickpuppy said:
Soovy said:
I think you should be aiming to get 1k over list for it from Tom Hartley or Romans, pay the balance to BMW and walk away with a bit of cash.
Soovy said:
I think you should be aiming to get 1k under list for it from Tom Hartley or Romans, pay the balance to BMW and walk away with a bit of cash.
It's make your mind up time!
Maths never was my strong point!!
I had a cancellation and we refunded the deposit as we had the car snapped up instantly, but strictly speaking this isn't necessarily required. They can happily hold on to the deposit. They CANNOT however chase you for more money (as a comment above suggested).
It is VERY important that you inform them that you are not going ahead now, rather than on Monday... if they have assigned a number plate and you have signed an AFRL, it is registered... which would mean they can only sell it as a 'pre-reg'. Whereas, if you cancel now, it will just sit in stock as an 'un-registered' car, which they will have a ball selling.
On something like a 1M, this will be quite an important selling factor for them.
may I ask what dealer and exact spec? I'd like to try and get that into our stock!
It is VERY important that you inform them that you are not going ahead now, rather than on Monday... if they have assigned a number plate and you have signed an AFRL, it is registered... which would mean they can only sell it as a 'pre-reg'. Whereas, if you cancel now, it will just sit in stock as an 'un-registered' car, which they will have a ball selling.
On something like a 1M, this will be quite an important selling factor for them.
may I ask what dealer and exact spec? I'd like to try and get that into our stock!
E30M3SE said:
Mermaid said:
benji90 said:
I count 4 for sale. The one under £40k having just sold via ph. Or am I missing something?
OK, I thought there were quite a few more. I was counting private & trade together.There are still only 4 cars, one of which is sold.....................
OP, I would speak to the dealer they may be able to sell the car on without issue and without you losing your £1k, I can't see them coming after you for any loses as that would be a massive PR fail.
Or can you guys still only see 4? 
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