Discussion
Hi all,
Just wondered if anyone can answer this question for me please?
I put a deposit on a new X3 last week, the car is not due for delivery until October this year. I have ever intention to take delivery of car, but what I wanted to know is, if my circumstances changes before the car is delivered and I decide to pull out of the deal would I lose my £3k deposit or can BMW sell the car to a new owner and refund me my deposit?
Has anyone had to do this in the past?
Just wondered if anyone can answer this question for me please?
I put a deposit on a new X3 last week, the car is not due for delivery until October this year. I have ever intention to take delivery of car, but what I wanted to know is, if my circumstances changes before the car is delivered and I decide to pull out of the deal would I lose my £3k deposit or can BMW sell the car to a new owner and refund me my deposit?
Has anyone had to do this in the past?
Different dealers have different policies on this.
Normally you will lose your deposit once your cars spec has gone into build and can no longer be changed. Before this time lots of dealers will give you your deposit back, although its not something they like to advertise, and you might experience some resistance.
Off topic a little bit, and a bit of a rambling story.
When working at BMW a customer once ordered a new X5 in Kalahari Beige, with cloth, SE spec, and a manual gearbox.
Of course we told him that it would be an undesirable spec in the used market, and he should only order it in the full knowledge that should he wish to sell in the near future he would lose a fortune. He politely listened and insisted this was what he wanted.
We were a bit nervous about a possible cancelation. The last thing any dealer needed was a virtually unsaleable £40k car sat in the showroom. We asked for £15k deposit with the strict understanding that once this car goes into build his deposit would be non refundable, and made him sign a separate note to say he understood.
I was the used car manager at the time, so whilst it did not affect me directly, it could have ended up being my problem. What would often happen with unsold new car stock is it gets registered as a demo for 3-6 months, whilst being written down out each month of demo running costs. Then be transferred into used car stock, if it remained unsold it would then be written down each month out of the used car profit (of which my commission was based). On top of that, after 90 days in used car stock head office would also to apply fines to the profit of the department for any car that was over age, so I really didn't want this car to end up being my problem. I took a very keen interest in making sure the customer took delivery of this car, so it was me who came up with the big deposit and signed letter.
Normally you will lose your deposit once your cars spec has gone into build and can no longer be changed. Before this time lots of dealers will give you your deposit back, although its not something they like to advertise, and you might experience some resistance.
Off topic a little bit, and a bit of a rambling story.
When working at BMW a customer once ordered a new X5 in Kalahari Beige, with cloth, SE spec, and a manual gearbox.
Of course we told him that it would be an undesirable spec in the used market, and he should only order it in the full knowledge that should he wish to sell in the near future he would lose a fortune. He politely listened and insisted this was what he wanted.
We were a bit nervous about a possible cancelation. The last thing any dealer needed was a virtually unsaleable £40k car sat in the showroom. We asked for £15k deposit with the strict understanding that once this car goes into build his deposit would be non refundable, and made him sign a separate note to say he understood.
I was the used car manager at the time, so whilst it did not affect me directly, it could have ended up being my problem. What would often happen with unsold new car stock is it gets registered as a demo for 3-6 months, whilst being written down out each month of demo running costs. Then be transferred into used car stock, if it remained unsold it would then be written down each month out of the used car profit (of which my commission was based). On top of that, after 90 days in used car stock head office would also to apply fines to the profit of the department for any car that was over age, so I really didn't want this car to end up being my problem. I took a very keen interest in making sure the customer took delivery of this car, so it was me who came up with the big deposit and signed letter.
bmw535i said:
I would imagine that all this information would be contained in the paperwork that you inevitably have. Are you envisaging that your circumstances are going to change?
To be honest the wait might be too long for me to wait. I might pickup a different car before that time, but at the moment I'm going to go for the X3.Gassing Station | BMW General | Top of Page | What's New | My Stuff