What is a "normal" deposit amount for ED

[mjrunning]

Got quoted a 5% of vehicle price for ED deposit. This is higher than anything I have read in doing a search on the forum.... usually $500-$1000... this would be over $2k???

thanks in advance...

[MP3_E46]

$500 for all my EDs (five) + 2008 M3 (non ED).

[move.over]

Got quoted a 5% of vehicle price for ED deposit. This is higher than anything I have read in doing a search on the forum.... usually $500-$1000... this would be over $2k???

thanks in advance...

$0, no need to part with your money until 2 weeks before pickup. :angel:

[beewang]

Got quoted a 5% of vehicle price for ED deposit. This is higher than anything I have read in doing a search on the forum.... usually $500-$1000... this would be over $2k???

thanks in advance...

My dealer doesn't charge me or my friends deposit. And I have never flaked on him once. Its the old fashion "my words are stronger than oak" approach that I like:)

[IrvRobinson]

My dealer doesn't charge me or my friends deposit. And I have never flaked on him once. Its the old fashion "my words are stronger than oak" approach that I like:)

I rarely if ever take a deposit,if someone cancels ( only once ) there's no check request form or anything else.I just have to notify the ED desk.My customers word is their bond,if they can't go,it's not necessary to explain.If it's mandatory by the dealer, it shouldn't be more than 500 and ALWAYS fully refundable for any reason.....good luck !

[adrian's bmw]

$0, no need to part with your money until 2 weeks before pickup. :angel:


:stupid:

I don't charge a deposit unles it comes out of our allocation- M's, 6's- or the client insists on putting a partial payment down.

Cancellations within the registration period before pick up and after PO has been sent are liable for cancellation charges (see you ED PO), but I've never seen this happen.

I mean, heck, parting with the dough to book flights and hotel prior to pick up is enough commitment and shows me enough intent that it's more a penalty, burden, and risk for someone doing ED to cancel.

[Calif65GM]

Got quoted a 5% of vehicle price for ED deposit. This is higher than anything I have read in doing a search on the forum.... usually $500-$1000... this would be over $2k???

thanks in advance...

Find another dealer fast, but I guess your choices might be limited in Idaho. I'd pm one of the bimmerfest dealer sponsors.

[jkc_335]

From my recent experience with an ED purchase most dealers ask for $500, some $1000. $2000 seems excessive.

[mjrunning]

This was actually an out of state dealer using the modified Rizzo method. Maybe they are asking for more because it is not a deal being done in person, anyone have any insite into deposits when doing an internet/phone/fax deal?

[jkc_335]

This was actually an out of state dealer using the modified Rizzo method. Maybe they are asking for more because it is not a deal being done in person, anyone have any insite into deposits when doing an internet/phone/fax deal?

I did everything over the phone and also was out of state. This shouldn't be a reason to ask for a $2,000 deposit.

[shosan521]

Try DeLon and Jim Cupp or Jim Manheimer(sp). They are in Salem OR, which is a day's drive from ID if need be. But they are also a Bimmerfest sponsor. Theey asked me to do a 1000 credit card varification, but didn't actually charge the card. Every dealer I spoke with talked about 500 dollars or so. Most didn't require anything for an ED. I would go somewher else if I were you...like DeLon. They have been awesome.

Matt

[mjrunning]

The 5% quote was from Delon, straight from Jim Manheimer....

[madhatter]

I did not put a deposit on my car. When I did my ED. The 5% the dealer is asking you to put but down is to much.

[IrvRobinson]

The 5% quote was from Delon, straight from Jim Manheimer....

Negotiate it down to 500, fully refundable for any reason....it's really excessive

[Noddy]

Tell Jim that Bee and all his CA customers are on the honor system and you will take care of him..unless you are ordering Minty Green Touthpaste Color leather for a 5er (like Agent99 did in San Jose a couple of years back.. sunglasses suggested for eye-strain with that one..IMO) then I think both Jim M and Jim C should be fine with your word.. (bought 4 cars from those guys !, great service... I was surprised when I read it was Jim M... must be a cross wire somewhere... those guys are awesome ! )

Cheers,
Noddy
SF Bay Area
ED 1999, 2001, 2003, 2005 and 2007 (Oct for MY 2008 550 Loaded, with a new color... not sure what yet... will be one of the new ones..)

[shosan521]

That is really werid it was DeLon. They asked me for the same thing...then I just told them that I was a Bimmerfest Member and everything I had read from Bee and the crew said otherwise. Then he suggusted we just do a credit card verification for 1K. Frankly, no deposit, CC verification, I was indifferent so I didn't push the issue. I figure, even if they do charge my card and I don't end up getting the car for whatever reason, I have recourse with my CC company. From everything I've read in the forum, I would be really suprised if DeLon still tried to make you pay even after you mention Bimmerfest. Let us know though, b/c this could be an important policy change for some of us that haven't bought many cars from them before...don't we all wish to be like Bee??!?! :)

Matt

[MB330]

$0, no need to part with your money until 2 weeks before pickup. :angel:

Same - $0.

[JSpira]

That is really werid it was DeLon. They asked me for the same thing...then I just told them that I was a Bimmerfest Member and everything I had read from Bee and the crew said otherwise. Then he suggusted we just do a credit card verification for 1K. Frankly, no deposit, CC verification, I was indifferent so I didn't push the issue. I figure, even if they do charge my card and I don't end up getting the car for whatever reason, I have recourse with my CC company. From everything I've read in the forum, I would be really suprised if DeLon still tried to make you pay even after you mention Bimmerfest. Let us know though, b/c this could be an important policy change for some of us that haven't bought many cars from them before...don't we all wish to be like Bee??!?! :)

MattThink of it from the salesman's point of view. "Hi, I saw your dealership on a Web site so please accept my order for a $50,000 car and because I saw your name on a Web site, please don't ask me for a deposit."

I'm not saying I agree or disagree with deposits but dealerships probably want some sign that the buyer is serious and asking for a deposit does provide this sign to some extent.

[DeLaSalle]

Got quoted a 5% of vehicle price for ED deposit. This is higher than anything I have read in doing a search on the forum.... usually $500-$1000... this would be over $2k???

thanks in advance...

Give IrvRobinson@motorwerks.com a call(he's out of town till thur.) He seems like a great guy to do business with out any Hum_Bug--He's doing a 335i PCD for me:)
Best Regards,
DLS

[AzNMpower32]

By the way, what happens to the deposit? I know if you cancel you can get a refund, but if the purchase and delivery goes through, then what? Does it become part of down payment?

[adrian's bmw]

By the way, what happens to the deposit? I know if you cancel you can get a refund, but if the purchase and delivery goes through, then what? Does it become part of down payment?

The deposit is basically a partial payment that will ultimately go towards the the down payment or full purchase value of the car.

[MP3_E46]

By the way, what happens to the deposit? I know if you cancel you can get a refund, but if the purchase and delivery goes through, then what? Does it become part of down payment?

The salesman gets to spend it on champagne and hookers. :smokin:

Kidding, it is part of your down payment. :thumbup: If I were brighter I would put as much as possible down as a deposit on a cash-back credit card, 2% back on $5K is $100.

[ddtan]

If Tacoma, WA is more convenient to you, I can introduce you to my CA who will give you a similarly competitive deal. PM me for details.

[panzer948]

No deposit required by my dealer either. Never even came up and mine is scheduled for production for a Jan. 15th pickup date.

[woody underwood]

Zero...it never even came up. But the salesman later told me they wern't too worried about selling an Imola Red ZHP if I backed out. (Probably for a lot more than I was paying)

[seccsc]

Zero for me also. I paid for the car 2 weeks before I was speeding in Germany.

[vern]

The salesman gets to spend it on champagne and hookers. :smokin:

Kidding, it is part of your down payment. :thumbup: If I were brighter I would put as much as possible down as a deposit on a cash-back credit card, 2% back on $5K is $100.
Thats just what I did. $2000 deposit and $2000 in with final payment on a credit card with 2% back. I wanted to pay for the price of the car with the credit card but they wouldn't do it .They would come out losers with the credit card fee that they have to pay.Thats why a total of $4000 was the limit.
cheers
vern

[mason]

$0 for deposit. I made a lump sum payment 10 days prior to departure.

[ddtan]

With so many people posting $0 for deposit. I would redirect to the OP's question, "what is normal deposit". I don't know if $0 deposit is "normal". Obviously it will vary from location to location, and I would guess that $500 to $1000 is normal, though I don't think that $0 is impossible in some places. Thing is, it shouldn't be a deal breaker if the rest of the numbers look good.

[Tanning machine]

Negotiate it down to 500, fully refundable for any reason....it's really excessive

Or just tell 'em you're sending a $500 (or $1000) deposit. If they don't think that's enough, tell them to send the check back.

[NateXTR]

I did $1046. That covered all fees, tax and 1st month payment. Because I was doing the "rizzo", I just agreed to give the money now. I have no relationship with CA at this point, so like Jspira said, I wanted to show that I was serious. I won't have to pay anymore money until the third month of our lease.

[Boraxo]

$500. And it is a good excuse for using your charge card (airline miles, hello!)

And I would charge as much of the price as possible. We cashed in the miles for 2 free business class tickets on Swiss which we used when we went to pick up the car. Unfortunately most dealer have a limit as to how much you can pay with a credit card as they don't like to absorb the processing fee.

[mason]

$500. And it is a good excuse for using your charge card (airline miles, hello!)

And I would charge as much of the price as possible. We cashed in the miles for 2 free business class tickets on Swiss which we used when we went to pick up the car. Unfortunately most dealer have a limit as to how much you can pay with a credit card as they don't like to absorb the processing fee.

Heck Yeah!! If the dealership ok'd, I would have charged the entire car on the credit card. There are unlimited of reward possibilities: Miles, hotel points even cash back.

[mullman]

Got quoted a 5% of vehicle price for ED deposit.

My deposit was a handshake.

But it was the third car from the same CA/dealer...

[acf69]

Would a dealer actually benefit from a customer backing out of ED when:

1. The original ED price is much less than what he would get;
2. The car has a desirable configuration.

Since the car would not come out of his allocation?

[robdaemon]

Got quoted a 5% of vehicle price for ED deposit. This is higher than anything I have read in doing a search on the forum.... usually $500-$1000... this would be over $2k???

thanks in advance...

$1,000 for my ED on a 335i.

I know that if you're doing a funky color combo, they'll charge you a higher deposit or make it non-refundable.

[ayigu]

$0 for me on my 335i.

[mason]

$1,000 for my ED on a 335i.

I know that if you're doing a funky color combo, they'll charge you a higher deposit or make it non-refundable.

That's italian suagage!!!

[adrian's bmw]

My deposit was a handshake.

But it was the third car from the same CA/dealer...

I like those kinds of honorable deposits. :thumbup:

[IrvRobinson]

Would a dealer actually benefit from a customer backing out of ED when:

1. The original ED price is much less than what he would get;
2. The car has a desirable configuration.

Since the car would not come out of his allocation?

Most customers don't back out from an ED unless there's an emergency.Deposits are rarely necessary,their word is good enough, even with first time buyers.The Dealer does not benefit from a cancellation and quite often,the customer goes at a later time.

[phantom701]

$1,000 when I did mine. But the dealership never cashed the check. When it comes time to pay, they said I could either pay in full (and give me my deposit check back) or deduct the $1,000.

[mjrunning]

As a follow-up to this, I ended up paying $0 for my deposit when I went to Delon.... thanks again Bee and JimM from Delon!!

[vern]

Heck Yeah!! If the dealership ok'd, I would have charged the entire car on the credit card. There are unlimited of reward possibilities: Miles, hotel points even cash back.
This is the reason I can't understand why so many posters brag about 0 deposit.IMO you don't have to much faith in yor dealer for one reason or another not to give him a deposit or your not realy sure you want the car and afraid of losing the money. ok go ahead with the flames.
cheers
vern

[mason]

This is the reason I can't understand why so many posters brag about 0 deposit.IMO you don't have to much faith in yor dealer for one reason or another not to give him a deposit or your not realy sure you want the car and afraid of losing the money. ok go ahead with the flames.
cheers
vern

Why quoted my irrelevant posting?

Well, my take is that it is not about faith or no faith. It is about keeping money in my pocket a little longer. I actually at first prepared to put down a few $ thousand as deposit. Since he required $0, I flipped some relatively low risk stock and made out extra few $ hundred. Is it a good reason to have $0 deposit??