Meltdown07 Posted March 1, 2006 Share Posted March 1, 2006 How much do dealers typically need to hold a car? I found the '05 LGT I wanted in the color combo I want, but I wont be able to finance until next week sometime. Reason being is that I am a fresh college graduate, that just accepted a job offer, and need a new car. I will have my written offer in my hands next tuesday when I go to sign the paperwork. I plan on purchasing next week, but in the meantime I want to hold this car because its the exact combo I want. How much money down do I need to give a dealer to hold it for me? I dont have a ton of liquidity right now, but I'll have plenty of money very soon. Any thoughts or experience from other forum users, or dealers out there? Go Cardinals! Link to comment Share on other sites More sharing options...
gt_ltd Posted March 1, 2006 Share Posted March 1, 2006 $500 min This Space For Rent Link to comment Share on other sites More sharing options...
suba_rus Posted March 1, 2006 Share Posted March 1, 2006 Took $20 from customer yesterday :lol: I've been known to take watches, titles, blank checks, children (J/k). Link to comment Share on other sites More sharing options...
Two-Five Sti-L Posted March 1, 2006 Share Posted March 1, 2006 give them up to $1000 on your credit card as deposit. You get the protection of having ur deposit refunded if dealer doesn't hold their end of the deal. Link to comment Share on other sites More sharing options...
starlabs Posted March 1, 2006 Share Posted March 1, 2006 I think I was asked to put down $100 so the dealer wouldn't make it available to anyone else. In the end however, they didn't charge my card anyway. -=- Livin life at 140 BPM -=- Link to comment Share on other sites More sharing options...
gfxdave99 Posted March 1, 2006 Share Posted March 1, 2006 500 is fair.. just have them write it up so that if your financing falls through you get it back.. If everything seems under control, you're just not going fast enough. - Mario Andretti Link to comment Share on other sites More sharing options...
hondas123 Posted March 1, 2006 Share Posted March 1, 2006 $100.00 for me too. I would put the LEAST amount possible to hold it. Things happen. - The Mortgage Man Link to comment Share on other sites More sharing options...
Guest *Jedimaster* Posted March 1, 2006 Share Posted March 1, 2006 50 bucks is all they need. Link to comment Share on other sites More sharing options...
Meltdown07 Posted March 3, 2006 Author Share Posted March 3, 2006 Okay well they wont hold it for any amount because they "have been burned before". Anyway, I got an internet quote for a new 05 LGT Limited in the color combination i wanted for 25,040. The MSRP is $30,900. How does this sound? This is my first car purchase, so forgive the newbie questions. How much do title and registration typically run the dealer. I'm in Illinois if that helps. I was approved for financing by my bank for $27k, and I just want to make sure I dont need more than that. I want no more than $27k OTD. Is that reasonable, what do you think? Go Cardinals! Link to comment Share on other sites More sharing options...
SBT Posted March 3, 2006 Share Posted March 3, 2006 Welcome to the site. As long as this is not one of the wind-damaged cars that the dealership bought from Subaru, a demo car with a lot of miles, or a used car that they're reselling, this sounds like a great deal. If it's any of the above, then I'd think more in the $22K price range before tax, title, license. Not sure what the tax rate is in IL but add about 8-10% more for registration, title and fees to get it out the door. Just don't tell them that you're pre-approved for $27K or guess what, the car will eventually, somehow, magically, end up at $27K. And don't let them add on a lot of dealer profit stuff like undercoating, paint and interior "protectants", window serial number etching, etc.. That stuff adds up and is basically pure profit to the dealer. Again welcome and good luck. Here's hoping you get your GT soon. SBT - Pro amore Dei et patriam et populum - Link to comment Share on other sites More sharing options...
specinvstr Posted March 3, 2006 Share Posted March 3, 2006 $500 is what I have put down in the past, but I would put down as little as you can. Also, have a manager note that the refund is 100% refundable. Otherwise, you might be SOL and lose your deposit if something falls through the cracks. Link to comment Share on other sites More sharing options...
Meltdown07 Posted March 3, 2006 Author Share Posted March 3, 2006 If I say throw in a wing spoiler and i'll buy OTD for 27k, is that a reasonable deal for both parties, or is that pushing it? Car is not wind damaged or anything, and is brand new. I'm not looking to get an incredible deal as much as I am to get this specific car due to the color combo. Again the info is: LGT Limited 2005Dealer offer: 25,040MSRP: 30,900 Also I am not sure how tax is figured. Where I will be living the tax is 6.5%, but in the country the car will be purchased its 7.5-8%. Thanks again for the advice Go Cardinals! Link to comment Share on other sites More sharing options...
gt_ltd Posted March 3, 2006 Share Posted March 3, 2006 an '05 will be considered 2 yrs old in a few months, no matter when it was built. use that as a strong negotiation point. This Space For Rent Link to comment Share on other sites More sharing options...
laz Posted March 3, 2006 Share Posted March 3, 2006 I put $100 on mine. --- Link to comment Share on other sites More sharing options...
X2Board Posted March 3, 2006 Share Posted March 3, 2006 Definitely no more than $100. Link to comment Share on other sites More sharing options...
djmonkey841 Posted March 4, 2006 Share Posted March 4, 2006 Just ask what you need to put down as a deposit...and they should refund it when you buy the car anyway...my dealer just swipped my card through one of those old school carbon copy credit card things...I think it might have been $150...they just held that and never sent it in until I came back the next day to sign everything... Link to comment Share on other sites More sharing options...
Meltdown07 Posted March 4, 2006 Author Share Posted March 4, 2006 Just ask what you need to put down as a deposit...and they should refund it when you buy the car anyway...my dealer just swipped my card through one of those old school carbon copy credit card things...I think it might have been $150...they just held that and never sent it in until I came back the next day to sign everything... I just filled out a loan application with the dealership, and told them I would be in Tue to buy, and they were cool with everything. So on tuesday I will be the owner of a LGT Limited. Go Cardinals! Link to comment Share on other sites More sharing options...
SBT Posted March 4, 2006 Share Posted March 4, 2006 Check the incentives for March in the Central US region. Should be able to get the car for invoice minus incentives minus dealer holdback. And the tax on the car will be for the locale where you are registering it...not where you bought it so check this figure on the papers. SBT - Pro amore Dei et patriam et populum - Link to comment Share on other sites More sharing options...
Penguin Posted March 4, 2006 Share Posted March 4, 2006 We take checks or cash only, and we cash them immediately. $1,000 on a BMW, $500 on other cars. Most of the deposits we take are for ordered cars, and they are non refundable to protect us from getting stuck with a wierd build on a very expensive car. Cars in stock we can refund the deposit on, if things don't go well. All deposits are applied towards the price of the car, so it's is not like we charge extra to hold or order a car. I have heard of this type of behavior, and it makes me sick to think some consumers get stuck with it. Link to comment Share on other sites More sharing options...
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