$500 NONREFUNDABLE deposit?

2044 Views 18 Replies 12 Participants Last post by Angelqute1, Aug 12, 2005

RacerX

Discussion Starter · Aug 8, 2005

$500 NONREFUNDABLE deposit?

What woud you do if the Saturn dealer said they will take $500 NONREFUNDABLE deposit.
You would then be in a lottery with 9 other people to get a chance to be #1 for that dealers #1 Saturn Sky for that dealer.
I thought anytime you put a deposit for a new car that it was always refundable. Anyboy know if there is a law somewhere about this?

RacerX

1 - 19 of 19 Posts

brentil

· #2 · Aug 8, 2005

The simple answer is find a new dealer because this one sounds like a Looser with a capitol L.

The policy on the refund of the deposit is up to the dealer. If that's their policy and you do it, then you're pretty much stuck with it. However by law you're not required to take purchase of the car, if it arrives and you don't like it you can reject the car.

You know, for being such a well respected dealer network, it really sounds like the Saturn dealers are actually a bunch of money grubbers. Up until these last several months hearing members having to pay large deposits on non-refundable deposits for Solstices, and having to pay over MSRP was pretty much non-existant. From all the posts people making here though it seems 90% of the Saturn dealers are trying to charge over MSRP and are screwing people over on the deposit side.

marklynn70

· #3 · Aug 8, 2005

If you have the opportunity I would look around before putting down a $500 non-refundable deposit. Putting down a deposit to secure a purchase contract or hold your position in line as it were is one thing. This guy could make a boat load this year just collecting $500 deposits from everyone.

LS2 MN6

· #4 · Aug 8, 2005

A dealer just added me to a list with no-deposit. I think when they start taking orders they will ask for a deposit.

marklynn70

· #5 · Aug 8, 2005

DuSpinnst said:
A dealer just added me to a list with no-deposit. I think when they start taking orders they will ask for a deposit.

And that makes sense, locking in a purchase price based on what you intend to have your SKY delivered with.

sky_vue

· #6 · Aug 8, 2005

Saturn of Longwood (florida) has me on a list. It's no deposit, but will be a lottery to determine order onces they start arriving.

On the upside.. I can wait and wait and wait.. very patient..

RacerX

Discussion Starter · #7 · Aug 8, 2005

Looking for New Dealer

brentil said:
The simple answer is find a new dealer because this one sounds like a Looser with a capitol L. ....

Thanks I will try to check other dealers in the area. Willing to put my money down refunable just not give it away NONREFUNABLE.
I was in the market for a fancy fast fireRed kit car until I saw the Sky and fell in love.

RacerX

Rick Tinley Park

· #8 · Aug 8, 2005

Deposit??

I was willing -- my dealer said, "You've bought 3 saturns through me -- I don't need your money. You are #1 on the list..."

SkyMan 08

· #9 · Aug 8, 2005 (Edited)

brentil said:
The simple answer is find a new dealer because this one sounds like a Looser with a capitol L.

The policy on the refund of the deposit is up to the dealer. If that's their policy and you do it, then you're pretty much stuck with it. However by law you're not required to take purchase of the car, if it arrives and you don't like it you can reject the car.

You know, for being such a well respected dealer network, it really sounds like the Saturn dealers are actually a bunch of money grubbers. Up until these last several months hearing members having to pay large deposits on non-refundable deposits for Solstices, and having to pay over MSRP was pretty much non-existant. From all the posts people making here though it seems 90% of the Saturn dealers are trying to charge over MSRP and are screwing people over on the deposit side.

I haven't seen very many posts where the Saturn dealer was asking over MSRP, A NON- Refundable deposit usually means only refundable if the dealer does not hold their end of the bargain Not the purchaser, otherwise why would they even ask for a deposit to secure a sale? Also if they never had to refund a deposit they could just take your money then later tell you that they couldn't get the car you wanted and so you lost your deposit, that is stealing and is Illegal...
A deposit should do two things, guarantee the dealership you are serious about purchasing, and secure your spot in the ordering process... if you do not place a deposit they can do anything they want, order for whomever they want and sell the car for whatever they want... If you want to be assured a good place in the ordering process put down a Good Faith Deposit and get everything in writing signed by the sales manager, not the salesman.

rick112

· #10 · Aug 9, 2005

RacerX said:
$500 NONREFUNDABLE deposit?

What woud you do if the Saturn dealer said they will take $500 NONREFUNDABLE deposit.
You would then be in a lottery with 9 other people to get a chance to be #1 for that dealers #1 Saturn Sky for that dealer.
I thought anytime you put a deposit for a new car that it was always refundable. Anyboy know if there is a law somewhere about this?

RacerX

I agree, you should find a new dealer! I put several terms in my documents with my dealer.

1) Minimal milage on the car (less than 50km).

2) The car must be priced comparable to a new Mazda Miata (MX whatever).

3) We have right of first refusal. We don't like it we get our money back.

I can't remember the other one off hand. I know he wanted $1000 but we told him we would give him $500. I also told him I might give him more when he could show me options and we could place an order.

If your dealings with your dealer make you feel uneasy then walk away. There are lots of other dealers that are willing to sell you a car.

Perhaps you should let Saturn head office know what this guy is up to. He is giving Saturn a bad name!

BTW I consider the deposit a show of interest. Saturn dealers accepting your money now are going to have your money for 6-7 months. Thats money in their bank accounts earning money for them. Most people interested enough to go down to a dealership, fill out paperwork and lay down cash are a likely sale. If you have to walk away from a sale the dealer will have someone else in line to sell this car to! It's not like they are trying to get rid of a used Pinto.

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RacerX

Discussion Starter · #11 · Aug 10, 2005

rick112 said:
I agree, you should find a new dealer! I put several terms in my documents with my dealer.

1) Minimal milage on the car (less than 50km).

2) The car must be priced comparable to a new Mazda Miata (MX whatever).

3) We have right of first refusal. We don't like it we get our money back.

I can't remember the other one off hand..

I went to another dealership today. They said I was the FIRST one to ask about SKY list or to put down deposit.
Salesman took my info to start the list and said would be in touch when he had more info.
Did not take deposit.

I will need to remember to put down those extra terms...good idea.
Tell us all 4 of the terms when you check your copy of the paperwork rick112.

It seems like all of the dealerships are doing things a little different.

brentil

· #12 · Aug 10, 2005

RacerX said:
I went to another dealership today. They said I was the FIRST one to ask about SKY list or to put down deposit.
Salesman took my info to start the list and said would be in touch when he had more info.
Did not take deposit.

I will need to remember to put down those extra terms...good idea.
Tell us all 4 of the terms when you check your copy of the paperwork rick112.

It seems like all of the dealerships are doing things a little different.

Sounds like that worked out for you RacerX. :cheers:

Instead of what he has listed for #2 have them put in writing the car will be sold for no more then MSRP. Because being comparable to the new MX-5 is a range from $22k-$28k.

rick112

· #13 · Aug 10, 2005

The reason I wrote term #2 the way I did was because I know the price range the Mazda product will sell at. I can afford that. Since Saturn has not given use pricing for the Sky MSRP is no good to me. If Saturn realizes they have a hit in their hands and trys to squeeze an extra 5-10k out of the out of the car they can keep it. I know the price range I can afford. Sorry I haven't looked back at my paper work yet btw. I also want to drop into the Saturn dealership to check out the colour chips. As has been noted in the past, Saturn is using some existing colours on the Sky. To bad we can't see the Bluestone yet. I'm thinking about getting that colour.

SkyMan 08

· #14 · Aug 10, 2005

rick112 said:
The reason I wrote term #2 the way I did was because I know the price range the Mazda product will sell at. I can afford that. Since Saturn has not given use pricing for the Sky MSRP is no good to me. If Saturn realizes they have a hit in their hands and trys to squeeze an extra 5-10k out of the out of the car they can keep it. I know the price range I can afford. Sorry I haven't looked back at my paper work yet btw. I also want to drop into the Saturn dealership to check out the colour chips. As has been noted in the past, Saturn is using some existing colours on the Sky. To bad we can't see the Bluestone yet. I'm thinking about getting that colour.

well Saturn has stated it will start under 25K, so Pontiac said the Solstice would start below 20K and they did it, so I am trusting Saturn to keep their word....

SKY Spy

· #15 · Aug 10, 2005

RacerX said:
I went to another dealership today. They said I was the FIRST one to ask about SKY list or to put down deposit.
Salesman took my info to start the list and said would be in touch when he had more info.
Did not take deposit.

I will need to remember to put down those extra terms...good idea.
Tell us all 4 of the terms when you check your copy of the paperwork rick112.

It seems like all of the dealerships are doing things a little different.

Here at the Dealer I work at we have taken 9 deposits so far. They are fully refundable. We have no doubt we will sell all the Skys we have coming even if the intended owner doesn't take delivery.

I can definately say not all Saturn dealers have been created equal. Ours have gotten the Summit Award for the last 2 years

Regards,

BA...

Whynot

· #16 · Aug 10, 2005

RacerX said:
$500 NONREFUNDABLE deposit?

What woud you do if the Saturn dealer said they will take $500 NONREFUNDABLE deposit.
You would then be in a lottery with 9 other people to get a chance to be #1 for that dealers #1 Saturn Sky for that dealer.
I thought anytime you put a deposit for a new car that it was always refundable. Anyboy know if there is a law somewhere about this?

RacerX

non-refundable deposit? never heard of it. if it's true, why would anyone do it?

sky_line

· #17 · Aug 12, 2005 (Edited)

RacerX said:
$500 NONREFUNDABLE deposit?

What woud you do if the Saturn dealer said they will take $500 NONREFUNDABLE deposit.
You would then be in a lottery with 9 other people to get a chance to be #1 for that dealers #1 Saturn Sky for that dealer.
I thought anytime you put a deposit for a new car that it was always refundable. Anyboy know if there is a law somewhere about this?

RacerX

I PUT DOWN MY DEPOSIT, TODAY...IT IS EITHER REFUNDABLE OR PART OF MY DOWN PAYMENT...WAS ALREADY ON THE LIST BUT THEY STARTED TAKING DEPOSITS, TODAY. THERE IS NO LOTTERY. IF THEY TOOK YOUR DEPOSIT YOU ARE GUARANTEED YOUR VEHICLE. AFTER THAT, IT BECOMES A WAITING LIST DUE TO THE FACT THAT THE EXPECTED FIRST SHIPMENT IS 5 WITH MORE SOON TO FOLLOW. I AM DEALING WITH GREAT PEOPLE AND THEY ALL KNOW THAT I AM FIRST ON THE LIST.

GOOD LUCK, FRIENDS :cheers:

SkyMan 08

· #18 · Aug 12, 2005

Whynot said:
non-refundable deposit? never heard of it. if it's true, why would anyone do it?

As i said before if there was no way you could lose your deposit why would they take one? Asking for a deposit is a way for the dealer to know you are serious about purchasing a car, if you put your money down and then YOU break the deal I can see them keeping the deposit... but if they break the deal Like not ordering your car, or the car is damaged or does not meet the dealers descriptions.and expectations, or they decide that you won't be getting the car when promised, they you SHOULD get your money back...

one thing is you should think long and hard before putting a deposit down, if you don;t feel comfortable about their stipulations then go somewhere else...
just make sure you get it ALL in writing... the only way to be assured your wishes are met.

Angelqute1

· #19 · Aug 12, 2005

The dealership told me that the $500 was completely refundable. Galpin in Los Angeles. Not that I care, but they said it is.

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