West Coast VS East Coast??

Excellent point...and I can tell you..I TELL everyone tp pay with a Credit Card...WHY..not for me..but any other location ALL you do is challange the charge with your CC company..GUARANTEED you will be refunded...no questions asked..ESPICALLY with AMEX..they give the customer money back hands down...no questions asked..and if the "Vendor" dont like it..they take away you ability to accpet their card..

Fact...I love Amex

Fact...I love Amex

Best buyers insurance around

I think that Roy is being reasonable. I would not send a car out for a PPI, or anything else for that matter, without a sale contract stating an agreed upon price and a deposit. If I am going to go through the time and effort to sell a car, I want to make sure that the purchaser is serious. If the car leaves without any of these things, there is no agreed upon sale. It is for practice. The dealer is most certainly serious about "selling" the car, why should there be no responsibility or commitment from a purchaser? When you go the the store to buy a carton of milk, do they let you take it out of the store without it being paid for? Also, another thing you might be missing is this (and I preface this by saying I do not know how Roy pays for his cars, nor is it my business), what happens if Roy's bank shows up for a surprise floor plan audit and the collateral for one of their loans is not around and has no sale contract or reason to be missing? Well, let me tell you what can happen, Roy has to pay for the car right there on the spot.

 

This is what I have always loved about purchasers in the car biz, especially the exotic biz, I want it all for nothing. I want no responsibility just enjoyment. I don't care about what the dealer has to go through as long as I get my price and, oh, the car better be better than brand new with 5k miles on it just like the brand new one I saw at the showroom but didn't want to put out the extra 50k it took to get there. All I am saying is this, when you are a buyer, have some consideration and if the dealer has a few stipulations to the deal (and none of the aforementioned that Roy has laid out are earth shattering) then go along with it. A deposit on a CC? You cannot come up with that? What does that tell me as a dealer, simple, you cannot afford what you are buying because you either don't have a card that can go up to 5k or you are maxed out on the ones that you do have.

 

Heck, most many places will not let the car leave without signed contracts and approved credit anymore. You know why? Because the DEALERS get burned on the REGULAR by purchasers! It's funny how there are all the places like Angie's list and the lot to complain about a business but nowhere that a business can post a blurb about a buyer that has burned them either contractually or ethically.

I personally like to buy cars sight unseen with no PPI... makes it more exciting. You never know what you will get..

 

Kinda like riding a whore bareback.

2) BUT, the main thing for me..is to do with my Dealer Lot Insurance..which I pay dearly for each year..if a car is on my property..it is covered 100% no matter what..BUT I still have a 10K deductiable..AND they only pay WHAT I paid for it, not what it is worth or what it could be sold for..BUT if I have a deposit on an agreed sale price..and the car leaves my property...gets totaled or what ever..then I am covered 100% of the "contracted-agreed" price..NO DEDUCTIABLE..

 

After reading this I understand what you are saying and feel that your request is completely appropriate.

I use to deal with cars from 20,000 to 100,000 dollars and I have seen what you are talking about. When we would locate or hold a car for the customer we always asked for a $500-$1,000 dollar deposit on the vehicle, some refused and some had absolutely no problem with the deposit.

 

I think what it comes down to is those who tarnish car dealer reputations, some of the customers may have been screwed over in the past and don't want to deal with it again. I don't think that it is anything personal or that they are wasting your time, I think it just throws up a red flag for them and they just find a dealer that doesn't require a deposit.

 

Perhaps you should try it without a deposit and see how it goes, maybe you will pick up more clientele and maybe you won't. If it does cause more issues then just reinstate your $5,000 fully refundable deposit.

 

P.S. not an expert here just worked at a BMW dealership for a couple years.

Edit: Oops double post.

 

I did forget to mention that I don't think they would waste the money for a PPI if they weren't serious. I know I wouldn't waste my money like that!