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2010 2011 BMW 5 Series Forum F10 BMW 5-Series (F10) Forums F10 Pricing, Ordering, and Tracking (and European Delivery) where does the $1000 deposit go?
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      03-28-2013, 10:41 PM   #1
JKresh
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where does the $1000 deposit go?

quick question, I left a $1000 deposit on a car but i think the dealer forgot to factor that in, I take delivery tomorrow its a lease, does it come off the top of the sale price? thanks!!
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      03-28-2013, 10:44 PM   #2
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It should be part of your downpayment.
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      03-28-2013, 10:53 PM   #3
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Of course, it should come off the final price.
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      03-29-2013, 12:03 AM   #4
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ok so not towards the 7 msds - thanks

almost forgot about the deposit i left and so did the dealer hmmm lol
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      03-29-2013, 07:36 AM   #5
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It should go towards the capital cost reduction. When you sign the lease all the monies should be itemized on the document, including the sale price of the vehicle, any capital cost reductions, taxes, fees, delivery charge, and any insurance or protection plans. If you don't feel comfortable or understand the numbers DO NOT SIGN THE PAPERS AND ASK THE DEALER. You're making a multi-year commitment to them, it is their job to explain everything to your satisfaction. Do not feel embarrassed or hesitant to ask for clarification on your terms or deal. A dealer that won't explain where your money is going and what it is for is not a dealer you want to buy from.
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      03-29-2013, 08:12 AM   #6
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The $1000 will reduce the amount you pay when you pick up the car. If the lease contract calls for you to pay a stated amount at inception for deposit, registration, first month lease payment, sales tax and whatever cap reduction is in this deal, that stated drive-off amount will be reduced by the $1000 you already paid.

The deposit won't appear in your preliminary lease deal because it's not really part of the deal. They just want you to commit to the deal in some way, even if they can't keep your money should you flake out. But you will get credit for the $1000 when you write the drive-off check. If they forget they have your money (unlikely) then remind them.
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      03-30-2013, 08:25 PM   #7
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If they order you a car, is 1000.00 down refundable if you don't buy a 5 series for example. Why do they take 1000 to begin with?
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      03-30-2013, 08:51 PM   #8
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Wink You'll wonder where the green went!

Quote:
Originally Posted by JKresh View Post
quick question, I left a $1000 deposit on a car but i think the dealer forgot to factor that in, I take delivery tomorrow its a lease, does it come off the top of the sale price? thanks!!
Send me $1000 and I'll tell you where it went.

You must have bee sooooooo excited about getting a BMW that you didn't even think about the money ... It's totally understandable - happened to me the time I bought my first Lear jet
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      03-31-2013, 04:56 PM   #9
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Quote:
Originally Posted by Luigi524TD View Post
Send me $1000 and I'll tell you where it went.

You must have bee sooooooo excited about getting a BMW that you didn't even think about the money ... It's totally understandable - happened to me the time I bought my first Lear jet
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      04-01-2013, 12:27 AM   #10
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Quote:
Originally Posted by JK479 View Post
If they order you a car, is 1000.00 down refundable if you don't buy a 5 series for example. Why do they take 1000 to begin with?
In California, a deposit is always refundable even if you ordered the car to your spec and decided to cancel. If you didnt get anything from the dealer, then the dealer shouldn't get anything from you, now thats the law, whether dealers follow it is up to them, I haven't encountered one where my deposit was 'lost' in any way.
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      04-02-2013, 08:26 AM   #11
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Quote:
Originally Posted by EV0LVE View Post
In California, a deposit is always refundable even if you ordered the car to your spec and decided to cancel. If you didnt get anything from the dealer, then the dealer shouldn't get anything from you, now thats the law, whether dealers follow it is up to them, I haven't encountered one where my deposit was 'lost' in any way.
IN MA and RI, I am not sure of the law. But i figured when you charge 1000.00 to a credit card and leave a deposit, I thought it was a payment. Is it more of good faith?

I am curious to know...scared if they keep it without takign delivery of a car!
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