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Discussion Starter #1
I need another paycheck to have enough cash to put my deposit down & thats in another couple of weeks ... but the list keeps growing here... so will they just accept payment with that? :banghead:
 

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my dealer let me put my deposit down w/credit card over the phone.
 

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My dealer takes credit cards, but he perfered a check. He doesn't cash them, just holds them. Only if you back out, does he cash the check.
 

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Used my Visa card for my deposit...no problems.
 

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Me too...Used a Visa for my $1000 deposit.
 

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Used Visa for a fully refundable $500 deposit.
 

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Discussion Starter #9
Why is it that some dealerships are saying its $1000 deposit (like mine) and some are like $500?

The other day my dealership got a delivery for a women on a SKY. I walked up to the women and asked her how much she put down on it & she said she only put down $100... I was like WTF.. why do I have to put down 1000?
 

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Very interesting.

My dealership is $500, but that seems to be rare. Some of the dealerships seem to get away with even higher deposits. It seems to be supply and demand. If people are willing to put down a large deposit, then the dealership can demand it.

I hope the dealership invested my $500 wisely so that they can get a good return on their 9-10 month windfall. In my savings account I would have made about $2.50 in that time. Somehow I am not feeling too cheated.
 

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CrackerJackToy said:
I need another paycheck to have enough cash to put my deposit down & thats in another couple of weeks ... but the list keeps growing here... so will they just accept payment with that? :banghead:

Mine did. I put a $500 deposit on my mastercard at
Saturn of Pembroke Pines, Florida.
 

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SkyHi07 said:
My dealer takes credit cards, but he perfered a check. He doesn't cash them, just holds them. Only if you back out, does he cash the check.
Same here, but he would have given it back to me if I would have backed out. Yea right, like that would have happened...:cheers:
 

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Some dealers (my Ford dealer) has a max. that you can put down. The Ford dealer was $2000 max. I paid my deposit on my Sky by credit card.
 

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Unless the dealer doesn't actually want to hold the deposit (by cashing a check or charging the credit card), I cannot imagine they will object to a credit card deposit.

Oh...and my deposit was 10% or $2,700. It is refundable though.
 

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Skytime..

I was going to say, Our Dealer was asking 1000 deposit until about march, then it went up to 10% the value because they had like 2 people back out AFTER their cars were made so they only wanted to take deposits and orders from those that were /serious/ about the car.
 

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I used one of the 1.7% APR checks my credit card company sends me from time to time...got 1.7% on $1000 til February.
 

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tyler07 said:
Skytime..

I was going to say, Our Dealer was asking 1000 deposit until about march, then it went up to 10% the value because they had like 2 people back out AFTER their cars were made so they only wanted to take deposits and orders from those that were /serious/ about the car.
Saturn of Newark, Tyler? I know that my deposit is refundable up until the car is actually ordered from Saturn.
 

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I put my deposit down by check, but it still has not been cashed by my dealership and will not be until I take delivery of my Sky. So, even if you don't have the money in your account now, you could still write a check as long as you make sure they aren't going to cash it until your car arrives. I didn't talk to anyone about credit card deposits because I use my credit card strictly for gas purchases and pay it off in full at the end of each month, so I didn't want to start wracking up a bill on it. I have a ridiculous interest rate and a $500 credit limit anyway because it is my first credit card ever. I am just trying to build credit with it.
 

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A big benefit to using a credit card is its much less of a hassle to get a refund. They simply put a credit back to your account plus you can complain to your bank if they refuse to unfairly give you a refund.

For an example I canceled my first deal on a SKY and got an immediate refund.
Another person who put cash down got a bit of a runaround to get his money back.

Keep In mind that in most states there is no cooling off period when you buy a car so they can keep your deposit if you cancel.

I canceled and got a refund because they could not deliver the car in a reasonable amount of time.
 
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