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Deposits Refundable?

Discussion in 'Gen 2 Prius Main Forum' started by cowboy, Nov 13, 2005.

  1. cowboy

    cowboy New Member

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    Location:
    "Mountain Empire" region of southeastern
    So, I gave my credit card for a "fully refundable" $500 deposit on an '06. My trade-in will be figured no sooner than 30 days before my Prius is due (sometime between Jan-Mar). Another dealer wants a $1000 non-refundable deposit - but he'll guarantee me a trade-in price now ($1200 under KBB) which will not change regardless of whether the '06 comes in Jan or Feb or Mar. I've not paid this n-r deposit.
    Both dealers offer straight MSRP.
    So what's the experience been out there? I think refundable is the only way to go, but I wonder if the guaranteed trade-in price is worth taking a second look at....... :unsure:
     
    #1 cowboy, Nov 13, 2005
  2. Jaguar88

    Jaguar88 Member

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    La Crescenta, CA
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    2005 Prius
    check with the laws in your state. I would be suprised if they allowed non refundable depositd on a car. But if you do decide to do it; get all of the details, the out the door price in writing. He may give you msrp but may try to load you down with bogus charges. Or he may try to give you a color you don't want. A non refundable deposit seems disreputable to me expecisally since the car is so popular that it will sell anyway.
     
    #2 Jaguar88, Nov 13, 2005
  3. SW03ES

    SW03ES Senior Member

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    Location:
    Gaithersburg, MD
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    2004 Prius
    Non refundable deposit? Because they've agreed to steal your trade for $1200 under KBB? LOL No.

    Secondly, don't trade the car into the dealership, you're just making it easier for them to make a fortune off of you. Do you have a Carmax or some other used auto superstore near you? You've also got time to sell it yourself.
     
    #3 SW03ES, Nov 13, 2005
  4. lwillis

    lwillis New Member

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    All dealers are different. I would not enter into a non-refundable deposit situation with any dealer as they CANNOT, and I repeat CANNOT guarantee you a delivery date for your requested color and option package of car. I think it takes a lot of bal.... for them to even ask for it.
     
    #4 lwillis, Nov 13, 2005
  5. cowboy

    cowboy New Member

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    Aug 21, 2005
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    Location:
    "Mountain Empire" region of southeastern
    Thanks all for the feedback. The basic reasons for the trade-in are (1) avoiding the hassles of showing my truck - I'm not into sales, and (2) avoiding the sales tax (around 6%) on about $20,000. The sales tax savings would equal nearly $1200.
    I agree that the $1K non-refundable is not a good thing for me to get in to, as I could get strung along for months....Maybe I will try to sell the truck privately, and see what happens....Thanks again.
     
    #5 cowboy, Nov 13, 2005
  6. hdrygas

    hdrygas New Member

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    Location:
    Olympia Wa
    Vehicle:
    2004 Prius
    Well in the dark days of 04, I put a deposit in on two cars the first by check (500) in May with projected delivery in February in July my son found a car for me 800 miles a way in Helena Montana. They promised delivery in a month and asked for my credit card for a 1k deposit but never ran it. I took delivery in August and the first local dealer promptly refunded my deposit.
     
    #6 hdrygas, Nov 13, 2005
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