NNRRGG

So I'm in the final stages of agreeing on a price of a TL. The dealer asks me over the phone to put a $500 deposit to hold the car so they can prep and clean the car when I arrive. He said the $500 can be used as a down payment or can be given back when I arrive at the dealership. But I have read that many people have been screwed over and when they want to back out of the deal the dealership refuses to give back the $500 deposit. And this is over the phone mind you, there is no signed agreement or anything of that nature. Is this safe to do? This is the first car buying experience so I'm requesting some knowledge from you seasoned pros. Lmk what you guys think!

g37guy01

If it were me, I would make sure I want the car and then do the deal. inwouldn't put a deposit over the phone. I'm never that desperate.

amill

you only put a deposit down once you setup the deal. Agree on price, allocation of the car and terms. Then you put a deposit down if you aren't taking it that day, or whatever.

Devil Dog 21

+1

Dealer is just trying to get you to commit so he doesn't put the car aside then lose a sale because you never show. No need to give deposit via phone, just go and knock the deal out in person.

HenryNYC

iTrader: (3)

Agree on price and any addons. Have it on paper. Leave deposit with credit card. Pick up car when ready.

Leaving deposit on credit card will give you an advantage in case you back out or unhappy with the final deal and they give you hell with returning deposit. If they give you grief, just call credit card company and reverse the charges.

NNRRGG

The dealer made it seem that I must give the deposit now or else the manager thats driving the demo will continue to drive it. And that when I arrive at the dealership the car won't be there because the manager is still driving it.

amill

So tell them, if they plan on selling it, they'll have it available for you to check out.

2011TL

That's a game I wouldn't play. Recommend you find a another dealer.

Devil Dog 21

I agree with finding another dealership, if that's the response you got...."The manager will be driving it unless you put down a deposit". I'd call the manager's boss and tell him he just lost a sale because his employee was too stupid to drive a different car for the day.

docboy

+1.

I suspect that after telling the boss what devildog suggested, you'll be getting a phone call back saying "their was a screw-up and the deposit was not actually required."

potmilkz

im a dealer, send me deposit, i can get you anycar you want.. just shoot over $500 to my paypal account.

C8N

eh... can't blame the sales person for trying to do his/her job. The sales person is just trying to lock in the deal. But regardless, no deposit until all items are agreed upon. If the car is not there for the deal to take place, guess who lost the sales? Whenever you are negotiating on a car, you have to be able to walk away if the deals are not in the terms you are agreeable with.

There is a thing called an appointment. If you made the appointment to see the car at an agreed time and the car is not there, because the manager is driving it, obviously that dealer does not want your business and you take your business elsewhere. Just politely say, "I am trying to buy a car. If your dealership does not want my business, please let me know and I will take it somewhere else. Will there car be there at the agreed time?"

Kahta

It's a psychological trick-- once you have money in the deal, you're more likely to follow through with it.

My dealer that I bought my TL from said "any deposit" was fine... so I put down $10, knowing that it was a meaningless gesture on both ends. If someone came in to buy that car and offered cash while you weren't there, the dealer would sell it in a second.

KeithL

I am sure the dealer is trying to lock you in, but me I would right up a quick email or letter and fax it with your signature, it should provide the CC info and say you authorize the charge conditional on ....

Put whatever you feel comfortable for language that gives you the out you want. Then tell them they can accept your terms or you won't leave a deposit. This way if they try to stick you the CC company will likely back you and immediately reverse the disputed charge.

Also as others have said the dealer will toss your deposit if a person Walks in and wants the car before you get there.

Edward'TLS

Don't put any money down, until you've read and signed what has been agreed, on paper.

Often times, the dealer may change the deal singlehandedly, but blame everything on miscommunication, and then it will be difficult for you to get your money back.

Danyoung

I've never heard of putting a hold and paying over the phone without seeing the car. Second to my knowledge and first hand experience the only time you call the dealer and send them money is when you know for sure you are buying the car. A business partner of mine called and wire transfer the full amount for an Aventador knowing 100% he wanted to buy the car without seeing it in person. Be more practical and take sometime out to go see the car.

Assuming you've never seen the car in person or dealt with these people, don't commit to anything. The only time I've ever put a refundable "hold" was 8 months ago, a $5000 wire transfer for my Tesla Model S, which I know own. The most recent was 2 weeks ago where I made another wire transfer for my 435i that should arrive in 8 weeks, "refundable" but why? With that being said...I've been to both dealers and have bought cars from them previously.

NNRRGG

Clarification*** I've seen the car before but couldn't test drive it as they were closing for the day. I only got to visually inspect the exterior/interior of the car. I'll let him know that I want to complete a test drive before I put a $500 hold over the car and if he isn't able to get the employee to stop driving the car without my $500 hold then I'm walking.

RenoTL

Lots of good advice here. With a dealer sale, there should be no reason to put down a deposit. You make a deal and take the car home. If, for some reason the car can't be taken home right away, your signature on the Sales Agreement should be binding enough. In a private sale, deposits are a different manner and may be used for example while financing is being obtained - after the sale terms are all agreed upon.

Mr Marco

Back in my day they would simply take the keys for your trade-in and throw them on the roof of the dealership.

Edward'TLS

Unless you hire someone to monitor the car 24/7, otherwise the dealer could still let others (even potential buyers) drive the car despite having taken your $500, without you even knowing it happening.

Danyoung

Now that I read your clarification, I came back to the first post. It does not make sense. You are in the final states of closing a deal correct?

1. You have not driven the car yet as explained in your clarification, however you visually inspected the car thoroughly.

2. You mentioned they were closing up so you had no time to test drive the vehicle. How did you even come close to agreeing on the price of a vehicle without test driving it? How did you even have the "TIME" to work out a financial understanding when they were closing up. Any dealer that closes the doors, but allows a customer after hours access is trying to work out a deal...I know for sure if I was working out a deal after 9PM, I would let my client drive the vehicle.

3. $500 to clean and prep the vehicle? Were you going to come back, test drive the clean and prepped car and sign? Why would you want the $500 given back if you were going to sign?

4. Explain thoroughly about an employee driving it...? Seems like there is more undisclosed information about this specific car.

I think you need to re-clarify your situation because you could be getting advice based off misinformation on your end. Bottom line if you have not test driven the vehicle don't let the dealer sit you down and start talking about money.

NNRRGG

2. I was able to discuss price with him over the phone/text over the weekend when he wasn't working at the dealership. They had acura corporate over and had to close the dealership from 12pm -1pm est so I couldn't stick around.

3. I think he wanted me to put the $500 dollars down to seal the deal but I asked if I could test drive it before I agreed to anything. Which he proceeded to say, "How is the car going to be here when we don't have the car on hold for you. The demo will continue to be used by the manager." I suspect there was confusion as he probably thought that I wanted to seal the deal on the agreed price. I should have specified to him that I haven't made up my decision yet.

4. I forgot to clarify that this is about the demo car I was talking about in another thread I made last week. But yeah, my fault for not clarifying this.

"I think you need to re-clarify your situation because you could be getting advice based off misinformation on your end. Bottom line if you have not test driven the vehicle don't let the dealer sit you down and start talking about money"

This is probably my fault I shouldn't have started negotiating without test driving the damn car. I assumed from the condition that I saw with my eyes that it would be like all the other TL's I've drove in the past week.

Mr Marco

Wow, what?

Either the GM wanted to take the "team" out to lunch for having a really good summer, or there is something really wrong with this dealer. No one would ever close from 12-1 just because HMCo exe was in town.

C8N

If a manager there is willing take out a car despite a potential sales... my guess is yeah... that dealer has problems

hadokenuh

Well maybe the OP has given the sales guy a feeling that he's not a serious buyer. I mean it's been more than 2 weeks and he's still "undecided" about the car. Just saying.

NNRRGG

The dealership won some Team Precision Award so they were having a ceremony of some sort.

The dealer knew that I was looking at other TL's around the area. I met him on Tues and this happened around Sunday so about 6-7 days.

Yeah but anyways I decided to walk from this offer. Too many headaches and I feel like the sales rep is out to get me or something. Today I closed a deal with another dealership so I'm pretty happy.

MisterZDX

Glad everything worked out for you. There was really no need to be stressing over a DEMO car with almost 10k miles. I'm just saying.

docboy

Stealership lost a sale over a $500 deposit. $500 lol.
Smart move stealership. Real smart.

hadokenuh

Well that's great. Congrats on the new car. I would have walked away if I was to deal with that kind of dealership anyway. Plus, the deal isn't that attractive