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F30 / F31 / F32 / F33 (2012 - current)
The sixth generation 3 series, chassis code F30. 2013 model year 328i and 335i sedans now in production. Read the F30 frequently asked question thread for all your basic question and dive into all the details in the ultimate F30 information thread.

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  #1  
Old 12-12-2012, 02:31 PM
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kobechrome kobechrome is offline
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Question about $1000 downpayment

If you order a car from a dealer and put $1000 down, can you back out and get a full refund at any point before delivery?

The dealership is telling me that if I back out after the car goes to Status 150 - then the dealer will deduct whatever the cost of selling the car is from my $1000. Does that sound right?
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  #2  
Old 12-12-2012, 03:31 PM
DrPartyPanties DrPartyPanties is offline
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Doesn't sound right. I would go to another dealer. Truth is (at least in California), you can sign the documents, but it's not your car until you physically drive it off of the lot. That's why the salesperson will walk you out, shake your hand, and watch you drive off the lot. It's not a sale until you hit the streets. You could drive it around the lot all day if you wanted to and still back out of the deal.

Personally, I wouldn't deal with them if that's the tact they are taking.
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  #3  
Old 12-12-2012, 03:51 PM
DrPartyPanties DrPartyPanties is offline
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Also, when I ordered my car in August (delivered November), I didn't sign a contract and did not have my credit run. I was told that I could back out at any time with no penalty.
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Old 12-12-2012, 04:47 PM
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tturedraider tturedraider is offline
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Quote:
Originally Posted by kobechrome View Post
If you order a car from a dealer and put $1000 down, can you back out and get a full refund at any point before delivery?

The dealership is telling me that if I back out after the car goes to Status 150 - then the dealer will deduct whatever the cost of selling the car is from my $1000. Does that sound right?
It would depend on the laws in your state, but I'm not aware of any states where a deposit is not fully refundable. However, having said that I can envision a circumstance where if you were ordering a car that would be very hard to sell to the general public a dealership might have reason, and possibly legal standing, to make a deposit not fully refundable.
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  #5  
Old 12-12-2012, 05:13 PM
bap bap is offline
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In the fine print of the sales contract I signed just before leaving for my October delivery there is language like what you describe. If I back out and they have to re-sell it the dealer has the right to subtract any costs from my down payment. I had already purchased plane tickets, made plans, and had no thought of backing out. Not sure if the sales contract supercedes state law. I've never heard of anybody actually losing money because of this either.
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  #6  
Old 12-12-2012, 06:01 PM
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tturedraider tturedraider is offline
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Quote:
Originally Posted by bap View Post
In the fine print of the sales contract I signed just before leaving for my October delivery there is language like what you describe. If I back out and they have to re-sell it the dealer has the right to subtract any costs from my down payment. I had already purchased plane tickets, made plans, and had no thought of backing out. Not sure if the sales contract supercedes state law. I've never heard of anybody actually losing money because of this either.
That could be due to the ED. If you back out of an ED there are financial repercussions the dealer will incur from BMW.
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  #7  
Old 12-12-2012, 07:21 PM
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akaMomo akaMomo is offline
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Quote:
Originally Posted by tturedraider View Post
It would depend on the laws in your state, but I'm not aware of any states where a deposit is not fully refundable. However, having said that I can envision a circumstance where if you were ordering a car that would be very hard to sell to the general public a dealership might have reason, and possibly legal standing, to make a deposit not fully refundable.
Not sure. I'm guessing its simply law. I had an amazing CA so maybe they were cool with my cancel. But I certainly tested the system: I optioned out a 328 sedan to $56k if I recall. I was ready to lose the deposit with my change (to a similarly optioned 335). Also, due to production slots I couldn't wait for both a SA build and a 2013 build week. Unfortunately I ended up at a different dealer and hence CA.

I felt bad but the reality is that I am going to pay on this car for three years and knew I would regret accepting the 328. The holiday deals put the 335 right into my range.

I would say from my experience that regardless of the order, in California any "deposit" is fully refundable. I think due to this my second order didn't even require a deposit. They have no legal standing.
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