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      11-18-2017, 03:03 PM   #1
Drift Master
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M2 Competition deposit

I have been assured first allocation from a reputable dealer for the first allocation they get. They said they had 9 allocations for a 2018 M2 LCI and based on the amount of M cars they sell they are fairly certain they will get at least few M2 competition. They asked for 2500$ deposit to secure that spot. I know few people have a deposit with some dealers across the country on a M2 competition without knowing if that dealer have an allocation. They were honest about they don't have anything yet and no one does but based on the past they should get a few. Other dealers didn't accept to take a deposit to secure that spot. The deposit is refundable. Should I go for it and ask for a lower deposit of 1000$. They are willing to put it all in writing. They were willing to confirm that they will sell it to me at MSRP.

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      11-18-2017, 03:45 PM   #2
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If it's refundable, no big deal. If you're going to buy the car does 1k v. 2.5k really make a difference?
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      11-18-2017, 07:16 PM   #3
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Quote:
Originally Posted by McGary911 View Post
If it's refundable, no big deal. If you're going to buy the car does 1k v. 2.5k really make a difference?
Yes but why tie up extra money unnecessarily. Also, why would the deposit express more serious intent to buy than say a deposit of $500 or $1,000?

I usually do $500. They asked for more and I asked for what reason?

Sounds like they want a free loan.
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      11-18-2017, 07:38 PM   #4
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When getting an allocation for my M2, my dealer first asked me for 5k. Went down to 1k though.
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      11-18-2017, 08:06 PM   #5
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Quote:
Originally Posted by Loupeitak View Post
When getting an allocation for my M2, my dealer first asked me for 5k. Went down to 1k though.
I think 1000$ is a good deposit especially that I will not see the car for likely 8 month. I wanted to know what the standard deposits are like I have never ordered a car this way with a deposit on a pre release car
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      11-18-2017, 08:40 PM   #6
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Deposits really don't serve a practical purpose for cars that haven't be allocated/ordered yet. My dealer asked for 2k as a deposit, took my card information and never charged it. I had it in writing that the deposit was refundable until the car was allocated and ordered. The GM could tell I was all in and I was local so the sales manager said the GM told him to not bother charging my card and incurring the CC fees they have to pay.

Point is if you can back out and get your money back the dealer really only needs to know your serious, tell them that you are all in as long as they get you an allocation of course and that your not putting deposits down with multiple dealers so if they can help you out and just take 1k you would appreciate it and I am sure they will go for it.
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      11-19-2017, 08:14 PM   #7
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Quote:
Originally Posted by Drift Master View Post
I have been assured first allocation from a reputable dealer for the first allocation they get. They said they had 9 allocations for a 2018 M2 LCI and based on the amount of M cars they sell they are fairly certain they will get at least few M2 competition. They asked for 2500$ deposit to secure that spot. I know few people have a deposit with some dealers across the country on a M2 competition without knowing if that dealer have an allocation. They were honest about they don't have anything yet and no one does but based on the past they should get a few. Other dealers didn't accept to take a deposit to secure that spot. The deposit is refundable. Should I go for it and ask for a lower deposit of 1000$. They are willing to put it all in writing. They were willing to confirm that they will sell it to me at MSRP.

Thanks
I have to ask, really? The CS and CSL rumors have been out for a long time. I find it hard to imagine a major metro dealer without an existing list. I've been no on a list for well over a year and this dealer sold 3 or 4 gts'. So, they are willing to write a PO stating at MSRP? And they delivered m4gts's? If so, congrats, deposit as little as possible...
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      11-20-2017, 07:48 PM   #8
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Up in Canada only required 1k CAD to hold there first spot. Then 5k more once they receive the allocation.
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      11-20-2017, 10:47 PM   #9
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New York metro area 1k deposit and they have 4 on the list already including me.
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      11-20-2017, 10:59 PM   #10
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Quote:
Originally Posted by Kuervers View Post
Up in Canada only required 1k CAD to hold there first spot. Then 5k more once they receive the allocation.
Ridiculous. It's not like they can't sell the car if you walk away when it arrives. Given that these are going to be very difficult to get and very limited options other than colour if any, they will have people lining up to take it off their hands. I wouldn't give them more than $500. If they balk, go to another dealer.
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      11-21-2017, 02:26 AM   #11
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My dealer wanted £500 in Feb 2016 and then it’s another £1500 when you go in to choose options. There were apparently ‘15-20’ people on the CSL waiting list by August 2016.

What sort of paperwork do you guys in the US/CAN get when you put a deposit down? I mean is it like an official vehicle order form?
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      11-21-2017, 08:19 AM   #12
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Quote:
Originally Posted by bogeyman View Post
My dealer wanted £500 in Feb 2016 and then it’s another £1500 when you go in to choose options. There were apparently ‘15-20’ people on the CSL waiting list by August 2016.

What sort of paperwork do you guys in the US/CAN get when you put a deposit down? I mean is it like an official vehicle order form?
How did they know about the £1,500 part? First mention I've seen of that.
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      11-21-2017, 10:23 AM   #13
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You gave them $2500, which will not now gain interest in your account, for a car that does not even exist today? No way. If they are so reputable, they would not need or want a deposit until the allocation is available, and the order placed with your deposit and allocation at the same time. If it is indeed refundable, I see no reason to require it before allocation.
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