Non-refundable deposit

[boxer01]

Is it standard to put a $1000 non-refundable deposit down on a car over the phone? I am uncomfortable doing so without running numbers and getting a comittment to those numbers from the dealership. I understand the interest rates will go up, but I am concerned about being asked to commit $1000 without any guaranty as to when the car might arrive or even if the package I want will ever arrive. Another dealership in the area "says" it will refund the $, regardless, but it is further a way.
Thanks

[priusham]

I placed the order for my 2004 Prius over the phone with an out of state dealer who did not even require a deposit.

It wasn't like they were going to get stuck with it if I backed out! Most dealers who are asking for deposits are doing so because so many people were "ordering" cars at several dealers and planning on taking the first available.

The local dealer required a $300 deposit on my '05. It was fully refundable and they never even processed the credit card charge.

$1,000 deposit is outrageous! In my eyes, a $1,000 non-refundable deposit is practically criminal. They do not deserve your - or anyone else's, business. I'd run away.

But that's just my opinon. I could be wrong.

[FBear]

Since the supply has become better, I think you'd be crazy to work with a dealer requiring a non-refundable deposit. Go on the web, you'll find a dealer that will get you a car.

[kidtwist]

In my experience, to put a customer on a waiting list dealers were either asking for a $500 refundable deposit, or no deposit. I never found any dealer that wanted a non-refundable deposit.

I also noticed that dealers who took a deposit were reserving a car for the customer. You would be offered it over the phone and if you accepeted, it would be held for you until you'd test driven it and made a decision. With dealers who asked for no deposit, you would be told a car was coming in and if you wanted it you better come down fast before somebody else grabbed it.

[naterprius]

Please add a location to the location field of your profile so that we may comment intelligently.

I have some facts that may be relative, but only if you tell us your location.

Nate

[SD2001]

My dealer also required a $1,000 non-refundable deposit when I ordered my 2005 Prius in March. I went in person and got a signed quote. I also special ordered several options (leather seats, 17" wheels, etc.).

I'm in south Florida if that makes a difference.

[hdrygas]

Back last August when waits were longer and production lower I was requested by one dealer for a 500 deposit. That was refunded when my son found a faster source in Montana. They requested a 1000 deposit and took my credit card number but never processed the deposit. I would say a non-refundable deposit is bogus. There are people reporting getting cars for under MSRP recently. My nurse walked in the the local dealer last Sunday and bought one off the lot! Look around you can do better than that.

[gschoen]

The only way I would agree to a non-refundable deposit is with a specific contract for a specific car, completely detailed, similar to a contract to buy a house. Your delivery date, contingincies (financing, etc.) should all be spelled out, with penalties for failure to meet conditions (such as you get your money back if they can't deliver on time). Even then, I would have to be desperate with no one else offering a better deal.

I did a $500 refundable deposit, all it really got me was they would call everyone with deposits when one came in, whoever got there first gets the car. I got exactly what I wanted in 3 weeks, after rejecting 3 others.

[boxer01]

In regards to the request for me to submit a $1000 non-refundable deposit, sorry I did not indicate my location.

I am in Denver, Colorado.

[bobc]

Just say No....

For $1000, you can put two refundable deposits down elsewhere in the country and then get one of them back, using it for plane fare, once the car comes in!

I know there's some holes in that logic but if you were to put a non-refundable deposit down, you're locked in and who knows when they'll/you'll get a car? They have less of an incentive to produce one for you than a dealership with a refundable deposit who knows you can find one elsewhere and get your $$$ back.