Question on deal wait-listing

OK. So, I know I want to get a 2010 Prius, but I'm on the fence about getting on the wait list at one of my local dealers.

The short question is this: Am I giving up my negotiating/bargaining by plunking down $500? By doing this, aren't I really telling the dealer that it doesn't matter what the price is, I really want this car in this configuration? Therefore, given the current economic conditions, the dealer has even less incentive to cut a deal (e.g., the dealer should try to get as much as they can from "committed" purchasers).

Thoughts?

--DotComCTO

In my neck of the woods, the dealers who took deposits for wait-lists would refund the deposit if you didn't buy the car. I know that this wasn't the case everywhere. Refund or no refund, the deposit should give you first right of refusal. You don't agree to buy the car until you sign the contract saying you're buying the car.

There are always other dealers too.

Yes. That's the thing about being on a list for a limited commodity. If you don't like the price, the dealer will just move on down the list. If you want to negotiate for a lower price, wait until there are a few sitting on the lot.

I got on the waiting list when gas was $4.00. Thought there would be a long wait. Now I feel that the list probably isn't that long and like you doubt that a deal would be offered. Hope I am wrong !!!

Right. So my big concern is that the economy continues to tank, and the number of people flocking to buy a new car is obviously down. Now, as you point out, you add in the fact that gas prices have come down so the demand for hybrid vehicles levels out.

My local dealers keep calling me every two weeks about putting a deposit down. Of course, when I ask them, they seem to have no idea about how many people have already put a deposit down. Riiiight.

So, I think I may just hold out a little longer to plunk down a deposit. Perhaps there will be a little more wiggle room/bargaining position with this approach.



--DotComCTO

Read www.carbuyingtips.com. When contacting the dealers specify what you want. There are 10 proposed combinations. Wait for them to come to the price you want to pay. I don't see any reason why the auto market will improve over the next year or two. I wouldn't put down a deposit as there is no guarantee any dealer will be there tomorrow.

My only option and I do have one is that if they don't deal , I can get my deposit back. I really hope that dose not happen.

Right on Jim, and if a dealer does go out of business I suspect all deposits would prove unrecoverable. There is no way I would pay window sticker price for a new car in today's market, not even a 2010 Prius. If I had made a deposit I would be trying to get my money back ASAP.

Who knows. Say the markets DO remain soft for a year or so. That'd just meant the Gen III intro model would make 'limited' production status. Ever see what a '64 1/2 Mustang goes for?

Either way, I'm IN there.

I went through the national shortage of last summer.

Wanted to be on a waiting list to save more $$ to put down.

Even though some dealers were doing wait lists, others were selling on a first come, serve basis - you call them, tell preferences, they call back weeks later when a match comes in.

I put $500 down at Sunnyvale Toyota because they were the recent JD Power & Assoc. #1 dealer in the SF Bay Area. They were very professional and adhered strictly to a waitlist. They also refunded my $500 the next day when my car came in at another dealer.

Toyo Sunnyvale claimed to be only knocking $100 off sticker price since they were sure to sell any Prius to next customer. Others were 'generous' (?) selling at sticker price, some dealers asking $5k mark up, you name it.

3 months of waiting was commonplace from May into September 2008. The wait stunk. Won't be like that this year.

This is an excellent point. In Oakland, CA a new Toyota dealer closed just last week with no notice to employees or customers.

Also, FWIW, any deposit I would put on a car would be with my Visa card and if anything happened I would challenge the charge and my charge would be cancelled since the retailer could no longer deliver.

Also, I too would not pay retail for a car in this economy. I am getting ready to buy my wife a new MBZ come April/May and will be shopping for a great deal as I suspect not a lot of new MBZ's are selling right now.

Long time reader of these forums first time posting.
I decided months ago that I wanted the 2010. After seeing it at the Chicago Auto Show I was sold.
However, two dealers in my area have 2009 prius on the lot. One has 14 the other has 9. They also have the option package I would want in a 2009 and the options I would want ont he 2010. I can't help but think I could get a 2009 a couple thousand below sticker price on window whereas with 2010 probably the sticker and at the 32,000 range for a package IV with nav package. Any thoughts

Before relying on this strategy, check the time limit for disputing charges. It may not be long enough to charge the deposit now and still overlap the expected car delivery date.

I have the same option. One dealer I happened by has exactly the 2009 configuration I would have wanted - at a nicely discounted price; however, I'm sold on the 2010 with all the new advancements. Me personally, I'd kick myself if I bought an '09 now, knowing what I know about the 2010 (and having checked it out in person at the NY Prius event). But that's me. You'll have to make to make that call yourself!

Good luck!



--DotComCTO

There are some great points being made in this thread. I hadn't even thought about the possibility of either dealer going out of business. While it seems unlikely, it is quite possible. I stopped by one of the dealers on President's Day and the place was fairly empty. I'd say there were maybe two other people looking at cars...and this is a larger dealership! A sign of the times for sure (as if a sub-7000 Dow isn't enough of a sign).

Given that, I'm just going to sit on the sidelines for a bit longer. I've only ever put a deposit on a car once, and that was because I had put in a special order. At that point, that particular car was hard to get, but at least it was available in the market. The 2010 Prius isn't even out yet.

I really do like the 2010 Prius, and fully expect to buy one this year. I just dislike the idea of giving up any chance of a negotiating a better price, and I think leaving a deposit does just that. I get the feeling I'm trading the ability to negotiate a good price for being the first kid on the block with the new toy(ota).

Like I've said before, I find it...interesting...that the dealers won't tell me how many people are on their waiting list, and yet I'm getting calls every 2 weeks.



--DotComCTO

Expect the 2010 to get 10% better fuel economy. If you can find everything you want in a 2009 I believe now is a good time to buy.

If you can easily afford either option, then the 2010 is a no brainer. The comfort, ride and handling are going to be much, much better. And no I haven't had a test drive, so I'm not violating any NDA. I just trust the information we've been given, and the Toyota person who had actually driven it. I did at least sit in the car and try the seats and steering wheel adjustments. Despite my signature, I did own a 2004, so I know how much of an improvement 2010 will be.

Problem there is most credit card companies will only allow you to challenge a charge up to a certain period of time (30 days, 60 days, etc) and if the dealer declares bankruptcy they have no obligation to fulfill any refunds and they are protected by the government. Just as in the situation with Circuit City closing, all sales are final.

I'm on the 2010 waiting list of my local dealer but didn't have to put down a deposit. They wrote up my package preference - Prius IV with solar roof, seaside pearl; got my phone number and said "we'll call you when the first one (of any color/package) hits the lot."

This seems ideal, as I will (hopefully) be notified when the first one comes in, plus they know what I'm looking for... I would feel somewhat pressured if I had to give a deposit.