The Lotus Cars Community banner

1 - 20 of 27 Posts

·
Registered
Joined
·
818 Posts
Discussion Starter #1
I placed my order today and they asked for 4500 more. I was like ahhhh what are you talking about. they never said anything about putting 4500 more down when you place the order. There is no way i can do that right now. I have every last cent going for the closing of my house next week. They said that it shouldnt be a problem. hopefully it wont. Its not like im going to leave 500 sitting. I have to talk to them on monday. Im going to be pissed if i dont get my car.


is anyone dealer asking for more money at order time.?
 

·
Registered
Joined
·
284 Posts
agent.5 said:
Los Gatos wants an extra 2K on top of the 2K deposit when ordering.
I had my deposit at Los Gatos. Is the $2k for markup? I was told I have to put down another $1k at the time I place my order. But this $3k deposit count toward the final purchase price of the car, not markup.
 

·
Registered
Joined
·
2,955 Posts
When I left my deposit 6 months ago I was told they only wanted $500 down, but when I went there they asked for $2000 which I gave them, but they never cashed my check and when I called them a few months later because it hadnt cleared they said they werent going to cash it under they actually ordered the car. I told them that I didnt need too get a loan from them, since I already have a home equity line at 1% under prime that I will use to buy the car.

There was a post about 2 months ago that the dealer I was using was asking for $10,000 when the order was placed. I called and they said that it wasnt true, but they may be asking for a deposit that is pretty high when they order the car since they dont want to order the car only to find out that the person cant get financing when it comes to pay for it. They ordered my car last week and didnt ask for anymore money, and I even offerred to pay for the car in full at the time.

I dont know if they did a credit check and saw that I had enough available credit on my equity line or not. This is the first time I am ordering a car that isnt on the lot. I'm sure that if you go to you local Cadillac dealer and ask them to special order a car from the factory according to your specifications they would want a large down payment. They wouldnt want to get stuck with the car if you decided you didnt want it when it arrived.

You didnt say where you ordered from, but someone in Jacksonville was trying to sell their #5 spot on the Lotus website a few days ago (the post has been deleted) Maybe your dealer is doing this to stop speculators and multiple deposit holders.

Hollywood, I am curious. If you dont have the money available to put down now, and are stretching yourself to get a mortgage, what makes you think you will have $45K in the next few months to pay for the car, or enough extra credit to apply for a $40K car loan. Why didnt you just take a mortgage for a lower amount so that you would have money available when it comes time to by the car? If you tell me that you are an 18 year old who is waiting for his next trust fund check to come in I'm going to puke!
 

·
Registered
Joined
·
1,285 Posts
When I spoke to Criswell last week, they mentioned that I would need $2500 when placing my order. I am far down the list at this point and I don't think anyone has placed an order with them yet so I don't know when this take effect. I don't know why they would need more money. It is not like if I place an order (doesn't matter what options are selected) and decide not to buy it, they will have a hard time finding a buyer, plus they would keep my initial deposit.
 

·
insert clever title here
Joined
·
7,702 Posts
From what I'm seeing, dealers will be very flexible with deposits. The amount is not fixed; whether or not you pay more is totally up to them. If your originaly purchase agreement does not say anything about extra money being required at this point, then try to persuade them to stick to that. If a dealer insists on more money down, I suggest agreeing to do so upon proof of order submission to Lotus and confirmation of a delivery date (from LOTUS, not the dealer). My hunch is that the dealer wouldn't be able to provide you with either of those bits of information at this point, and thus you could delay payment of the extra deposit money if you chose.
 

·
Registered
Joined
·
4 Posts
Sounds OK

My Dealer asked for a $1000 fully refundable deposit. At the time the order is placed I need to give them another $4000, and the total $5000 becomes non-refundable at that same point. I figured that was fair enough after some of the things I've seen happen with people ordering spec'd cars without taking delivery of them.
 

·
Registered
Joined
·
1,352 Posts
Yeah, Tom Skinner is hinting at the same. I haven't said anything to him about this; however, I think it's bullshit. Like nxm said, it's not like they won't be able to sell the car if someone backed out. Criswell only has 180 deposits or so.

Let's think about it. 180 deposits at Criswell = around $125,000 in the bank that they are collecting money on. If you invest 125k, you can turn that money around pretty decently.

I have been thinking about telling Tom that asking for additional money up front is a bit absurd. If I'm the only one, then I might get push back... yet if more than a few people grip, then perhaps he'll do away with that non-sense.

Thoughts?
 

·
Registered
Joined
·
5,418 Posts
I mean really, do any of these dealers fear being stuck with an 05 Elise:rolleyes: Worse case scenario they could sell it to another dealer. It's non-sense to think they are worried. It;s just policy and getting your money early for what ever investment they want it for.
 

·
Registered
Joined
·
1,201 Posts
Let's think about it. 180 deposits at Criswell = around $125,000 in the bank that they are collecting money on. If you invest 125k, you can turn that money around pretty decently.
That actually illustrates my concern to the negative. What if a dealer files for bankruptcy before a car is delivered?
 

·
Registered
Joined
·
818 Posts
Discussion Starter #17
xxxotic said:
"Hollywood, I am curious. If you dont have the money available to put down now, and are stretching yourself to get a mortgage, what makes you think you will have $45K in the next few months to pay for the car, or enough extra credit to apply for a $40K car loan. "

The way the mortgage is working is i place my deposit down before they start construction. I had to pick to have to before or after construction. I picked before so that i have time to save up another 6-7 grand for a deposit on the Elise. Seeing that both should be arriving about the same time. Plus tax return will be here by the time the Elise comes. That all goes to the Elise.

"
If you tell me that you are an 18 year old who is waiting for his next trust fund check to come in I'm going to puke! "

Im not 18 and not waiting for a trust fund to come. I wish!. Im 24 and work very hard for my money. I get paid on the amount of work I do and how fast and correct it is. I dont get nothing handed to me.
 

·
Registered
Joined
·
247 Posts
Our $1,000 deposit is refundable until the car goes into build, at that stage if you back out we keep the money. We do not ask for anymore money when the order is accepted. I think that is the most reasonable way to do business for all parties involved.
 

·
Registered
Joined
·
2,154 Posts
Canyon Carver said:
Our $1,000 deposit is refundable until the car goes into build, at that stage if you back out we keep the money. We do not ask for anymore money when the order is accepted. I think that is the most reasonable way to do business for all parties involved.
Are you sure that you are a dealer? You don't seem to be listed on the "official" web site. :D

Given that the shop still is listed as coming in fall 2003, I don't think they are into updating the info on the site very often (or at all, really).
 
1 - 20 of 27 Posts
Top