Deposit amounts?
Instructor
Joined: Aug 2015
Posts: 208
Likes: 0
From: VA
I had a deposit of $1000 since the beginning of March and just added to make it 10%.....this is with a Virginia dealer.
Do you guys think it's negotiable? I really love the car but would much rather place a small amount down to hold the allocation.
Also, the potential for non-refundability worries me. I've sent a note out stating I don't feel that's right but haven't heard back yet ... Perhaps they've been turned off by me not whipping my wallet out as quickly as they'd like!
Also, the potential for non-refundability worries me. I've sent a note out stating I don't feel that's right but haven't heard back yet ... Perhaps they've been turned off by me not whipping my wallet out as quickly as they'd like!
Good luck!
Rennlist Member
Joined: Feb 2013
Posts: 1,137
Likes: 254
From: DFW
Another vote for how awesome Park Place Porsche in Dallas was with my very first transaction ever with them. Called 5 minutes after GT4 was announced and put my name on the list. Gave them a $1k refundable deposit. They said it would be $5k when the allocation was locked in. When I locked my allocation, I mentioned the extra deposit money and they said to not worry about it.
Love this dealership. I'm looking for an excuse now to buy another Porsche from them, but I need a bigger garage first.
Love this dealership. I'm looking for an excuse now to buy another Porsche from them, but I need a bigger garage first.
Burning Brakes
Joined: Mar 2015
Posts: 1,123
Likes: 6
From: Stevenson Ranch, CA
It seems there are two different types of deposits being discussed here.
1. A deposit just to put yourself on a speculative list, which seemed to have been around $1,000 to $1,500 dollars. I did not do this.
2. A deposit to show "commitment" upon receiving an allocation. This was what my deposit was.
In my case there was no paperwork, it was all done over the phone, in the span of minutes because I felt if I did not get my deposit in someone else would snap up the allocation. So in a sense it was a huge risk. But I knew I was dealing with a real Porsche dealer and the SA had been recommended by a Rennlister so I went on faith.
All worked out. The deal was honored, I of course did not back out.
In the end I never met my SA in person, and never set foot in the dealership.
1. A deposit just to put yourself on a speculative list, which seemed to have been around $1,000 to $1,500 dollars. I did not do this.
2. A deposit to show "commitment" upon receiving an allocation. This was what my deposit was.
In my case there was no paperwork, it was all done over the phone, in the span of minutes because I felt if I did not get my deposit in someone else would snap up the allocation. So in a sense it was a huge risk. But I knew I was dealing with a real Porsche dealer and the SA had been recommended by a Rennlister so I went on faith.
All worked out. The deal was honored, I of course did not back out.
In the end I never met my SA in person, and never set foot in the dealership.
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Rennlist Member
Joined: Jun 2015
Posts: 8,273
Likes: 6,727
It seems there are two different types of deposits being discussed here.
1. A deposit just to put yourself on a speculative list, which seemed to have been around $1,000 to $1,500 dollars. I did not do this.
2. A deposit to show "commitment" upon receiving an allocation. This was what my deposit was.
In my case there was no paperwork, it was all done over the phone, in the span of minutes because I felt if I did not get my deposit in someone else would snap up the allocation. So in a sense it was a huge risk. But I knew I was dealing with a real Porsche dealer and the SA had been recommended by a Rennlister so I went on faith.
All worked out. The deal was honored, I of course did not back out.
In the end I never met my SA in person, and never set foot in the dealership.
1. A deposit just to put yourself on a speculative list, which seemed to have been around $1,000 to $1,500 dollars. I did not do this.
2. A deposit to show "commitment" upon receiving an allocation. This was what my deposit was.
In my case there was no paperwork, it was all done over the phone, in the span of minutes because I felt if I did not get my deposit in someone else would snap up the allocation. So in a sense it was a huge risk. But I knew I was dealing with a real Porsche dealer and the SA had been recommended by a Rennlister so I went on faith.
All worked out. The deal was honored, I of course did not back out.
In the end I never met my SA in person, and never set foot in the dealership.
Rennlist Member
Joined: Oct 2008
Posts: 9,149
Likes: 1,658
Another vote for how awesome Park Place Porsche in Dallas was with my very first transaction ever with them. Called 5 minutes after GT4 was announced and put my name on the list. Gave them a $1k refundable deposit. They said it would be $5k when the allocation was locked in. When I locked my allocation, I mentioned the extra deposit money and they said to not worry about it.
Love this dealership. I'm looking for an excuse now to buy another Porsche from them, but I need a bigger garage first.
Love this dealership. I'm looking for an excuse now to buy another Porsche from them, but I need a bigger garage first.
Disclaimer:
Have bought from them previously.
Three Wheelin'
Joined: Aug 2015
Posts: 1,577
Likes: 26
From: Illinois
Since it is the "first time" for me to buy with my current Porsche dealer, I was "asked" to put down $30,000.00 deposit. The term "refundable" was not even used in the paper work, nor did we even discussed that subject since I was dead serious with my then order of 991 GT3RS. Now that I have received my car, I have now "established a relationship" with my dealer. So now since I am in the pipeline, I just say which model I want and once an allocation is guaranteed I give them whatever it costs to ensure the order is allocated to me, and processed through delivery.
They also did this to existing customers who have just recently gotten an allocation for a 981 GT4. In their case it was a $25,000.00 non-refiundable deposit. I asked my dealer why is it now "non-refundable", they said they don't want the ping- pong, s/he likes it then backs out then goes through the wait list. In a way I agree to that philosophy because if you are REALLY wanting the car, then the car is "guaranteed" to you only.
Drive safe,
GT3RS-Fan1
They also did this to existing customers who have just recently gotten an allocation for a 981 GT4. In their case it was a $25,000.00 non-refiundable deposit. I asked my dealer why is it now "non-refundable", they said they don't want the ping- pong, s/he likes it then backs out then goes through the wait list. In a way I agree to that philosophy because if you are REALLY wanting the car, then the car is "guaranteed" to you only.
Drive safe,
GT3RS-Fan1
Rennlist Member
Joined: Oct 2008
Posts: 9,149
Likes: 1,658
Since it is the "first time" for me to buy with my current Porsche dealer, I was "asked" to put down $30,000.00 deposit. The term "refundable" was not even used in the paper work, nor did we even discussed that subject since I was dead serious with my then order of 991 GT3RS. Now that I have received my car, I have now "established a relationship" with my dealer. So now since I am in the pipeline, I just say which model I want and once an allocation is guaranteed I give them whatever it costs to ensure the order is allocated to me, and processed through delivery.
They also did this to existing customers who have just recently gotten an allocation for a 981 GT4. In their case it was a $25,000.00 non-refiundable deposit. I asked my dealer why is it now "non-refundable", they said they don't want the ping- pong, s/he likes it then backs out then goes through the wait list. In a way I agree to that philosophy because if you are REALLY wanting the car, then the car is "guaranteed" to you only.
Drive safe,
GT3RS-Fan1
They also did this to existing customers who have just recently gotten an allocation for a 981 GT4. In their case it was a $25,000.00 non-refiundable deposit. I asked my dealer why is it now "non-refundable", they said they don't want the ping- pong, s/he likes it then backs out then goes through the wait list. In a way I agree to that philosophy because if you are REALLY wanting the car, then the car is "guaranteed" to you only.
Drive safe,
GT3RS-Fan1
Thread Starter
Rennlist Member
Joined: May 2011
Posts: 999
Likes: 98
From: The Cloud
Lots of great info, thanks so much guys. Sounds like the majority put something in the more reasonable range of $1k-$2.5k. Anything more than that doesn't sound exactly fair to me but I can see both sides I suppose.
I'll be talking with the SA today to figure out everything (including cost) and will loop back with an update.
I'll be talking with the SA today to figure out everything (including cost) and will loop back with an update.