[dtdutch]

I ordered my I4 M50 in June of 2022 with a $1000 deposit. It will soon arrive at the dealership however there has been a significant development that has me reconsidering the purchase of the vehicle at this time. I have the funds to take delivery of the car, but with what is going on personally right now I don't want to make the outlay.

I would like to get your opinions on what my options are. The default answer is I lose my $1000 and move on. What other options are there?

 

[Klaus-rf]

Run an add (auction?) on ebay and sell it to someone else.

 

[voxel]

I ordered my I4 M50 in June of 2022 with a $1000 deposit. It will soon arrive at the dealership however there has been a significant development that has me reconsidering the purchase of the vehicle at this time. I have the funds to take delivery of the car, but with what is going on personally right now I don't want to make the outlay.

I would like to get your opinions on what my options are. The default answer is I lose my $1000 and move on. What other options are there?

I'd walk. EV depreciation is brutal right now. i.e EV6s and Mach-Es are sitting on lots - at MSRP - and wholesale prices have collapsed for them.

If you want the car... it's one of the best EVs around.

 

[northerncalguy]

I think that you partially answered your question and...if it's just about the $1k, I'm sure there's someone nearby either on these forums or else where that would take delivery on your behalf and pay all or most of that deposit back to you. You can write it up as cost of doing business.

 

[Ultbruin]

I ordered my I4 M50 in June of 2022 with a $1000 deposit. It will soon arrive at the dealership however there has been a significant development that has me reconsidering the purchase of the vehicle at this time. I have the funds to take delivery of the car, but with what is going on personally right now I don't want to make the outlay.

I would like to get your opinions on what my options are. The default answer is I lose my $1000 and move on. What other options are there?

Isn't the deposit refundable? Some states mandates deposit to be refundable.

 

[fsxbob]

The dealer should be able to sell that M50 for MSRP within 24 hours, just ask for a refund of the deposit and walk away. Its actually very common now with the sudden economic change. Just curious of your location and build spec

 

[jebecpa]

They had my M50 sold within the hour. They should be happy to refund your money to make more on the next guy. After waiting 17 months, they gave me 4 hours to decide and wanted the car picked up that night. I was having surgery the next day and was going to be unable to drive for 3-4 weeks, so I let it go. They obviously had someone waiting in the wings. I made sure before I let it go, that they would refund my money.

 

[dtdutch]

The dealer should be able to sell that M50 for MSRP within 24 hours, just ask for a refund of the deposit and walk away. Its actually very common now with the sudden economic change. Just curious of your location and build spec

I am in Florida. Brooklyn Grey, Tacora interior, DAPP, PAP, Shadowline...let me know what else you want to know.

 

[dtdutch]

Isn't the deposit refundable? Some states mandates deposit to be refundable.

I recall them saying in Florida it is not refundable. I maybe should have phrased my question differently. I have the cash to buy it, if there's a way to recoup the outlay and deposit by reselling it or trading it in on another less expensive car.

I just don't see that being the case with the $6500 in taxes and fees beyond the sticker price of $75k. Any ideas?

 

[northerncalguy]

I recall them saying in Florida it is not refundable. I maybe should have phrased my question differently. I have the cash to buy it, if there's a way to recoup the outlay and deposit by reselling it or trading it in on another less expensive car.

I just don't see that being the case with the $6500 in taxes and fees beyond the sticker price of $75k. Any ideas?

Even with cash in hand, it's a lot more trouble to take delivery and then offloading or trading it after the fact. IMO, it doesn't make sense to do that to save $1k.

 

[dtdutch]

I'd walk. EV depreciation is brutal right now. i.e EV6s and Mach-Es are sitting on lots - at MSRP - and wholesale prices have collapsed for them.

If you want the car... it's one of the best EVs around.

I want the car, it looks incredible I am doing my best to do the right thing. I can always get the car later and maybe the prices will come down. I actually would prefer to have something bigger then the i4, but smaller than the i7. Maybe being patient will end up paying off.

 

[linerjoe]

I recall them saying in Florida it is not refundable. I maybe should have phrased my question differently. I have the cash to buy it, if there's a way to recoup the outlay and deposit by reselling it or trading it in on another less expensive car.

I just don't see that being the case with the $6500 in taxes and fees beyond the sticker price of $75k. Any ideas?

You should definitely check with the dealer. My $2k deposit was nonrefundable per legal definition, but the dealer was willing to refund it once it sold to someone else (they didn't have to, but they said that was their normal approach). For an m50, it certainly makes sense, because it will probably sell quickly.

 

[dtdutch]

You should definitely check with the dealer. My $2k deposit was nonrefundable per legal definition, but the dealer was willing to refund it once it sold to someone else (they didn't have to, but they said that was their normal approach). For an m50, it certainly makes sense, because it will probably sell quickly.

That's reassuring. Would you let them know ahead of time or after it gets there?

 

[lefkonj]

I would just get your money back. Easiest path and the dealer should be willing to do this. If not then buy it and flip it.

 

[linerjoe]

That's reassuring. Would you let them know ahead of time or after it gets there?

I'd let them know, so you can start working out the real options with them. You didn't order anything special (individual manufacturer colors, etc), so they shouldn't have much issue selling it.

 

[Harlaquin]

So you could try this....if they wont refund your deposit insist on a performance center delivery. They have to do it per BMW the trick here is the car stays on their books until it is delivered to you and right now performance canter deliveries are 2 to 3 months behind. They dont want that they want it off the books now. you could say well i want it but i dont want it now so I would like to have a performance center delivery because that will give me a few more months or you can give me my deposit back and just sell it to the next person. I found this all out with my car. long story short corporate was involved and I asked why I was never offered the performance delivery and I was told because they have to keep the car on the books and listed as not sold until delivery takes place. Becaue of that dealers dont mention it because they don't want the customers asking for it because its one of the things BMW makes then do that they hate. Matter of fact my dealer was trying to put 2500 in add ons on my car and i asked for performance delivery and they asked why . I was very truthful I said because that way you don't get the car and cant put you add ons on it I dont want. They immediately offered to remove any ad ons if i took delivery from them. This is a hard ball tactic but may work for you if you are left with no choice. But i would seriously just ask they will probably just give your money back as they wont have an issue selling the car.

 

[tonyquan]

So you could try this....if they wont refund your deposit insist on a performance center delivery. They have to do it per BMW the trick here is the car stays on their books until it is delivered to you and right now performance canter deliveries are 2 to 3 months behind. They dont want that they want it off the books now. you could say well i want it but i dont want it now so I would like to have a performance center delivery because that will give me a few more months or you can give me my deposit back and just sell it to the next person. I found this all out with my car. long story short corporate was involved and I asked why I was never offered the performance delivery and I was told because they have to keep the car on the books and listed as not sold until delivery takes place. Becaue of that dealers dont mention it because they don't want the customers asking for it because its one of the things BMW makes then do that they hate. Matter of fact my dealer was trying to put 2500 in add ons on my car and i asked for performance delivery and they asked why . I was very truthful I said because that way you don't get the car and cant put you add ons on it I dont want. They immediately offered to remove any ad ons if i took delivery from them. This is a hard ball tactic but may work for you if you are left with no choice. But i would seriously just ask they will probably just give your money back as they wont have an issue selling the car.

This is sad that dealers do this. Back in October, I got a car at MSRP after someone cancelled. Dealer asked me if I wanted any add ons, I said no, that was the end of the discussion. Less than a minute.

as for the OP, I'm certain the dealer can sell the car. Ask for your $1k back, it's very likely you'll get it.

 

[voxel]

I am in Florida. Brooklyn Grey, Tacora interior, DAPP, PAP, Shadowline...let me know what else you want to know.

If you are in Florida, there are simply too many honest BMW dealers with i4 stock (at MSRP) for you to flip locally. I was offered 4 different ones from August to Nov. And unlike NJ, we have to pay sales tax on EVs.

Now… available Broncos are rare in FL.

 

[dtdutch]

So you could try this....if they wont refund your deposit insist on a performance center delivery. They have to do it per BMW the trick here is the car stays on their books until it is delivered to you and right now performance canter deliveries are 2 to 3 months behind. They dont want that they want it off the books now. you could say well i want it but i dont want it now so I would like to have a performance center delivery because that will give me a few more months or you can give me my deposit back and just sell it to the next person. I found this all out with my car. long story short corporate was involved and I asked why I was never offered the performance delivery and I was told because they have to keep the car on the books and listed as not sold until delivery takes place. Becaue of that dealers dont mention it because they don't want the customers asking for it because its one of the things BMW makes then do that they hate. Matter of fact my dealer was trying to put 2500 in add ons on my car and i asked for performance delivery and they asked why . I was very truthful I said because that way you don't get the car and cant put you add ons on it I dont want. They immediately offered to remove any ad ons if i took delivery from them. This is a hard ball tactic but may work for you if you are left with no choice. But i would seriously just ask they will probably just give your money back as they wont have an issue selling the car.

This is a great idea should it get ugly, but I believe they will just return my deposit as you and others have stated. Thank you for the detailed explanation. I will research this and be prepared to go that route if necessary. My dealer also put a bunch of extras on there and I asked him to remove there was zero argument. The BMW dealerships in my area seem to do very well so I suspect this is easy business for them, they will take orders at MSRP all day, everyday.

 

[fsxbob]

I am in Florida. Brooklyn Grey, Tacora interior, DAPP, PAP, Shadowline...let me know what else you want to know.

HK or Icon lights by chance? Hopefully dealer is flexible, I'd fly down and buy that car from them if they let me, no joke.