about to pull the trigger, nonrefundable deposit

[Zooterz]

I've also been told by a dealership in Florida that deposits must be refundable and that a dealership cannot have you make a deposit that is non-refundable. Not sure what the exact laws are around this. also not sure if you would want to waste the extra money getting a lawyer if you end up really wanting that $1k deposit back and they refuse.

yeah it wouldn’t be worth it at all for 1000, the dealership I signed with said I’ll get a delivery date within 1 year so I guess that’s what I have to settle with

in the meantime I’ll look at Toyotas allocations and expand my radius

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[Mk5ive]

i have 2 dealerships that are saying they will do MSRP on a 2024 supra. one wants a $500 refundable deposit and the other one wants a $1000 nonrefundable deposit.

dealership #1 has only sent me a screen shot from the toyota website of the build/pricing and has stated they will do MSRP

dealer #2 that wants the nonrefundable deposit sent me this "proposal" for me to sign and date, and said they usually get their allocations in around 90 days.

whats the better option? im leaning towards dealer #2 but i dont want to get scammed out of $1000

am new plz help

I do finance for a Jeep dealer for a living..The doc fee is extremely high I.e our’s is $499…Also the government fee is ur taxes lol! So the a la cart gov fee is bs…

 

[AndyK5]

i have 2 dealerships that are saying they will do MSRP on a 2024 supra. one wants a $500 refundable deposit and the other one wants a $1000 nonrefundable deposit.

dealership #1 has only sent me a screen shot from the toyota website of the build/pricing and has stated they will do MSRP

dealer #2 that wants the nonrefundable deposit sent me this "proposal" for me to sign and date, and said they usually get their allocations in around 90 days.

whats the better option? im leaning towards dealer #2 but i dont want to get scammed out of $1000

am new plz help

Let me give you a secret.

There is no such thing as non refundable deposit. Unless they sell you something or provide a service, charge you money for it and then say we'll count that towards the purchase of a car. Like a plumber asking for $200 to give you a quote and then saying he'll count that towards the service if you go with him. If you don't he gets to keep the money as he charged it for the quote.

So lets say you give a dealership a non refundable deposit. Then you decide not to buy the car from them. Then what? What are they gonna do with that money? Which account is it going to go? How is it going to be accounted by the accountants? How are taxes going to be figured out? Is it all profit? Was there some cost involved? What are they going to say when the judge asks why are you keeping this gentleman's money?

Moral of the story...nobody can legally hold on to your money without providing a service for it. If I was that dealership and truly wanted a non refundable deposit I would say here, buy this keychain for a thousand dollars from me, here is a contract that states you will get $1000 off the price of a new 2024 Supra sold at MSRP.

 

[Soliduz]

Dealer where I bought mine has had 2 2024 supras on the lot since December. Both were up for grabs and vanished within a week. I grabbed one by putting 10% down refundable while I considered buying it for a few days. Got a really good deal and a perfect Supra!

Also I watched the Supra markets daily for about a year and a half like a hawk


edit - just wanted to add that I considered buying it for a few days because I originally planned on getting it this Summer so had to make sure I had everything in order before I purchased

 

[Turbro]

I had a "non-refundable" $1k deposit with My high volume dealer locally for MSRP, any color but hoping for blue, i figured sure they can get it. 14 Months went by and they tried but NEVER got a single MT car... only 2 autos in 14 months.

So I search Toyota inventory every now and then and found a 3.0 MT Blue out of state. I figured no way this isnt marked up or sold. I inquired and called and they said MSRP and no ones car. Its a Vin allocation and already in build. Reserved it asap and its mine once it arrives!

My old dealer actually gave me back my $1k "non refundable" deposit because there was nothing they could do and they totally understood the situation. I was the longest standing order for any model at their dealer. There was also 40 people behind me waiting for an MT. They still had no eta for a vin allocation. Heck they even said, "shit, you should go get that one no hard feelings"

So i did, I cant wait for delivery! So excited

 

[puckshaw]

There's literally no reason for a non-refundable deposit on this car. It's not like the dealer can custom order a car for you and will be stuck with it if you walk away from the deal. They literally just get whatever Toyota offers and then make a few phone calls to the list of buyers. There's no risk to the dealership to offer a refund on a deposit. It's just a money grab.

 

[ShakaDaKine]

brand new. local dealer sells at msrp. no markups allowed.

This sounds like an awesome opportunity to visit paradise, take your pick of Supras ( quite possibly at a discount), have it shipped to the mainland, and enjoy a break-in drive home...just say'n.

 

[Fuji808]

not a bad idea ShakaDaKine!
it's a little chilly at 75 degrees today.

there are currently 8 supras, 7 of which are 2024 manuals.
the only automatic is a 2023 selling for $55.8K at $3.4K discount.

see you soon!!!

 

[swrdply400mrelay]

I had a "non-refundable" $1k deposit with My high volume dealer locally for MSRP, any color but hoping for blue, i figured sure they can get it. 14 Months went by and they tried but NEVER got a single MT car... only 2 autos in 14 months.

So I search Toyota inventory every now and then and found a 3.0 MT Blue out of state. I figured no way this isnt marked up or sold. I inquired and called and they said MSRP and no ones car. Its a Vin allocation and already in build. Reserved it asap and its mine once it arrives!

My old dealer actually gave me back my $1k "non refundable" deposit because there was nothing they could do and they totally understood the situation. I was the longest standing order for any model at their dealer. There was also 40 people behind me waiting for an MT. They still had no eta for a vin allocation. Heck they even said, "shit, you should go get that one no hard feelings"

So i did, I cant wait for delivery! So excited

Your story sounds like mine, was on the waitlist for 10 months, moved up 1 spot from 5th to 4th.

Found one out of state at MSRP. 2024 Strat Blue MT.

 

[Turbro]

There's literally no reason for a non-refundable deposit on this car. It's not like the dealer can custom order a car for you and will be stuck with it if you walk away from the deal. They literally just get whatever Toyota offers and then make a few phone calls to the list of buyers. There's no risk to the dealership to offer a refund on a deposit. It's just a money grab.

Most "non refundable" is refundable if they never get the car and cant provide the service. Its more for them to know your serious and wont back out

 

[jtsang25]

I had a "non-refundable" $1k deposit with My high volume dealer locally for MSRP, any color but hoping for blue, i figured sure they can get it. 14 Months went by and they tried but NEVER got a single MT car... only 2 autos in 14 months.

So I search Toyota inventory every now and then and found a 3.0 MT Blue out of state. I figured no way this isnt marked up or sold. I inquired and called and they said MSRP and no ones car. Its a Vin allocation and already in build. Reserved it asap and its mine once it arrives!

My old dealer actually gave me back my $1k "non refundable" deposit because there was nothing they could do and they totally understood the situation. I was the longest standing order for any model at their dealer. There was also 40 people behind me waiting for an MT. They still had no eta for a vin allocation. Heck they even said, "shit, you should go get that one no hard feelings"

So i did, I cant wait for delivery! So excited

So this dealer has 40k, assuming that's what everyone paid as a deposit, just sitting on their books. That sounds like a tax/ accounting nightmare.

 

[3TMagnetMan]

Im glad I got my car near the end of covid lol. The dealership had alot of them at the time. I just walked in and drove home in a new Supra.

 

[Zooterz]

who sniped me up in new york?

this is the email i wake up to

" Yes, I left you a VM about 30 mins ago or so. And yes, we can go over details over email if that's easier for you! That Supra specifically got sold late last night unfortunately, however, we do have the ability to Order one for you! With that, what specifically would you be looking for in the Supra? Colors, Transmission, Features, etc.? Also, a timeframe for a car like this would be sometime in May, being on the Conservative Side. "

 

[jtsang25]

who sniped me up in new york?

this is the email i wake up to

" Yes, I left you a VM about 30 mins ago or so. And yes, we can go over details over email if that's easier for you! That Supra specifically got sold late last night unfortunately, however, we do have the ability to Order one for you! With that, what specifically would you be looking for in the Supra? Colors, Transmission, Features, etc.? Also, a timeframe for a car like this would be sometime in May, being on the Conservative Side. "

Is this dealer 1 or dealer 2? May is conservative? They can build to order? May would be early/if you're lucky if they could get one built this month, then shipped out, then through the usual waiting time at the port then maybe you'd get one in May.

 

[Zooterz]

Is this dealer 1 or dealer 2? May is conservative? They can build to order? May would be early/if you're lucky if they could get one built this month, then shipped out, then through the usual waiting time at the port then maybe you'd get one in May.

this was a completely different dealership and i just posted it here instead of spamming other places on the site, just needed to vent.

found 3.0 premium in new york for MSRP and before i could even place a deposit they said they sold the car, then told me i might be able to get one in may. i still have a deposit with dealer #1 but im debating on putting one with this dealership in new york also

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