How much deposit should you leave on a car at a dealer?

Flying-High_2

Upon viewing a car/van/machine I've usually left 10% if I don't have the full amount on me. I'll do then sort the rest out to whatever suits the seller....

londonTiger

if that used car company tv show is anything to go by they seldom make any sales..

Days go by without sales it seems so take your time, don't fall for "we've had a lot of interest in the car", "we can't guarantee it will be here next week, so if you want it, put a deposit down".

before buying my car I enquired about a few cars and I got that usual speel, called me 2-3 times a week. I told him I'll drop by on Sunday with cash and the car, he seemed to have dementia, calls me Saturday "look do you want the car or not, I've had a lot of interest in it and I can't keep this aside for you any longer". I repeated I will come down on Sunday.

On collection the car lot was dead. I got the feeling I was the only person interested in the car and he was desperate to make the sale.

Deposit is easy money for them. It's their profit margin. If buyer absconds it's almost like they had an extra car in the lot and sold it!

zappahey

Unless it's something particularly rare, I wouldn't pay a deposit at all. They're just trying to hook you into the sale by the standard sales trick of making you think that you have to move fast or you'll miss out.

Ectophile

I've always assumed that about 10% is normal.

I can't see any problem in paying a deposit on a car. When I see the car on the forecourt, it probably hasn't been serviced in months, and the MOT may be about to run out.

So I sign the contract and pay the deposit. The dealer gets it serviced, cleaned and MOTd, and I get a few days to arrange the insurance. I then go back a few days later with the rest of the money, and pick up the car.

I always work on the assumption that the deposit is non-refundable. If I put a deposit on a car, then it's because I'm buying it.

rotherham123

hi

i work for vauxhall and sell new and used cars. We as a dealer will take any amount from £20 upwards as a deposit to reserve a car which is fully refundable. The reason we do this is it shows commitment from the customer, nobody leaves money on anything they dont really want so we have a high conversion rate and secondly we always refund because you never know if that customer may return and buy another day, if we keep deposits then the customer hates us and will never return.. as my boss says how would you feel if it was your deposit!!

what you are dealing with is a dinosaur who wants a large deposit so he can have a hold over you should you try and cancel, its harder to walk away from £500-£1000 than it is to walk away from £50

Also if you are a finance customer then you are entitled to your deposit back, if you are a cash customer you are not and the dealer can keep it, so just be wary of that bit

OddballJamie

£20 holding deposit on a Network Q car?

Mate the 1960s are calling and they want their sheepskin coat back.

rotherham123

OddballJamie wrote: »

£20 holding deposit on a Network Q car?

Mate the 1960s are calling and they want their sheepskin coat back.

who mentioned network Q...??

no mate we've moved with the times thats why we dont ask for big dippers, £100 is the norm but customer can leave what they want... whats wrong with that??... i have lost count how many £50 dippers i have took and the customer has taken the car..all build my commission up... our CSI is through the roof and customer retention is excellent.. i know you dont want hear that cos you are a negative billy but thats a fact

what you going to do if the customer hasnt got the required deposit? burn them and let them walk???... send them to me if you dont want them

OddballJamie

I don't believe for one minute that your Vauxhall dealership is taking £20 deposits on new and approved used cars unless you have a fleet of old Novas round back.

What serious car buyer doesn't have a card of some description tucked away in their wallet/purse. Actually nowadays it's crazy not to drop at least 100 notes deposit on a credit card for the added protection.

£20 deposits wreak of desperation and pressure selling.

londonTiger

OddballJamie wrote: »

I don't believe for one minute that your Vauxhall dealership is taking £20 deposits on new and approved used cars unless you have a fleet of old Novas round back.

What serious car buyer doesn't have a card of some description tucked away in their wallet/purse. Actually nowadays it's crazy not to drop at least 100 notes deposit on a credit card for the added protection.

£20 deposits wreak of desperation and pressure selling.

People will go to stupid lengths just to save a few quid. Just go through some other areas of this board. People going to greta lengths to get 35p money off coupons for groceries.

We're all succumbed to the commitment principle. When we've put a small contribution in anything we're invested in it to a degree.

ANyone who puts a £20 deposit down is probably reasonably interested in purchasing a vauxhall and is a serious buyer (though havit to admit £20 sounds very low, I would have thought something like £50 would be a minimum). People will go back to the agreed deal just to "see through" their £50 investment, I'm sure of that.

jaybeetoo

I've always assumed that if you put down a deposit of at least £100 using a credit card, then you get additional protection.