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Last edited by RedStrikeCa on May 14th, 2022 12:17 pm, edited 2 times in total.
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- Mar 11th, 2022 9:38 am
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- RedStrikeCa [OP]
- Sr. Member
- Sep 25, 2015
- 572 posts
- 1224 upvotes
- Toronto, ON
2 replies
- StatsGuy
- Deal Fanatic
- Dec 20, 2018
- 8040 posts
- 7343 upvotes
where's this big brain idea coming from? dealer's are offering refundable deposits in the first place because they know they'll have no problem selling the car with long waitlists for basically all models.RedStrikeCa wrote: ↑ There is a new phenomenon where car buyers are putting down two deposits instead of one.
The reason that it’s good to have multiple refundable deposits when you buy a caris so you have options. It’s worse for you as a buyer if you only have 1 deposit. With one deposit there is little incentive for the dealer to negotiate because they know you want the car. After all, you waited 6 to 12 months for it. You’re at the mercy of a single stealership. There is a chance that the dealer does something shady and you have no escape because of the wait to get a new car (if you really want the car)
You don’t need to tell one dealer about the deposit at the other dealer. Now you have options to choose the dealer that offers the best price. Just the fact that you’re willing to walk away from the deal is enough. Before you walk away you can tell the more expensive dealer that you found a better deal and they may try and compete.
is so you have options. It’s worse for you as a buyer if you only have 1 deposit. With one deposit there is little incentive for the dealer to negotiate because they know you want the car. After all, you waited 6 to 12 months for it. You’re at the mercy of a single stealership. There is a chance that the dealer does something shady and you have no escape because of the wait to get a new car (if you really want the car)the only upside i can see is if you have multiple deposits ..that you may get a car sooner from one dealer
- StatsGuy
- Deal Fanatic
- Dec 20, 2018
- 8040 posts
- 7343 upvotes
why would you put down a deposit at a dealer with absurd fees or a price you feel is too high in the first place?RedStrikeCa wrote: ↑ The other upside is that you are not at the mercy of the dealership if you really want the car. If the dealership is charging absurd fees then go to the next one without the wait.