I did it
Thread Starter
Almost a Member!
Joined: Jun 2007
Posts: 54
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09 gl550,06 AM Vantage, 08 S600
I did it
I just can't wait until tomorow so tonight i stopped by the dealer and put the order in.
A couple questions:
1. My dealer asked for $5k deposit per car , is that the same everywhere?
2. Why do they need to do credit check if you just gonna pay it cash upfront?
Thanks
A couple questions:
1. My dealer asked for $5k deposit per car , is that the same everywhere?
2. Why do they need to do credit check if you just gonna pay it cash upfront?
Thanks
MBWorld Fanatic!
Joined: Oct 2005
Posts: 1,271
Likes: 1
From: CA
2010 CL65
Would chk to make sure any deposits are fully refundable in your state (by law)...
$5K/car seems rather high, esp for commodity cars like S550 in normal color schemes....I never need to place any deposit (even refundable) when ordering any AMG/F/P, but my dealers know me well...
Dealer relationships are a two-way dynamic...in my expce, excellent dealers are rather fair and reasonable....and have deep bases of repeat custs....and dealers and custs tend to "self-select"....there are a lot of undesirable, non-profitable, one-off custs out there, as well as many inept, dishonest dealers....
Don't know why the credit chk....it's prob b/c dealer doesn't know you and wants some quick screen....have never bought a car in my life....such an archaic concept
....every <40yo financier I know (guys who can easily write a chk for any car) share my aversion to financial illogic of buying any car....prefer capital effcy/sales tx effcy....and lease gap insurance advantages of a $0-down lease....
$5K/car seems rather high, esp for commodity cars like S550 in normal color schemes....I never need to place any deposit (even refundable) when ordering any AMG/F/P, but my dealers know me well...
Dealer relationships are a two-way dynamic...in my expce, excellent dealers are rather fair and reasonable....and have deep bases of repeat custs....and dealers and custs tend to "self-select"....there are a lot of undesirable, non-profitable, one-off custs out there, as well as many inept, dishonest dealers....
Don't know why the credit chk....it's prob b/c dealer doesn't know you and wants some quick screen....have never bought a car in my life....such an archaic concept
....every <40yo financier I know (guys who can easily write a chk for any car) share my aversion to financial illogic of buying any car....prefer capital effcy/sales tx effcy....and lease gap insurance advantages of a $0-down lease....
MBWorld Fanatic!
Joined: May 2007
Posts: 2,071
Likes: 2
2007 S600
Would chk to make sure any deposits are fully refundable in your state (by law)...
$5K/car seems rather high, esp for commodity cars like S550 in normal color schemes....I never need to place any deposit (even refundable) when ordering any AMG/F/P, but my dealers know me well...
Dealer relationships are a two-way dynamic...in my expce, excellent dealers are rather fair and reasonable....and have deep bases of repeat custs....and dealers and custs tend to "self-select"....there are a lot of undesirable, non-profitable, one-off custs out there, as well as many inept, dishonest dealers....
Don't know why the credit chk....it's prob b/c dealer doesn't know you and wants some quick screen....have never bought a car in my life....such an archaic concept....every <40yo financier I know (guys who can easily write a chk for any car) share my aversion to financial illogic of buying any car....prefer capital effcy/sales tx effcy....and lease gap insurance advantages of a $0-down lease....
$5K/car seems rather high, esp for commodity cars like S550 in normal color schemes....I never need to place any deposit (even refundable) when ordering any AMG/F/P, but my dealers know me well...
Dealer relationships are a two-way dynamic...in my expce, excellent dealers are rather fair and reasonable....and have deep bases of repeat custs....and dealers and custs tend to "self-select"....there are a lot of undesirable, non-profitable, one-off custs out there, as well as many inept, dishonest dealers....
Don't know why the credit chk....it's prob b/c dealer doesn't know you and wants some quick screen....have never bought a car in my life....such an archaic concept
....every <40yo financier I know (guys who can easily write a chk for any car) share my aversion to financial illogic of buying any car....prefer capital effcy/sales tx effcy....and lease gap insurance advantages of a $0-down lease....I'm beginning to think it would be worth my time to buy my next MB at your dealership WSH. I'll be sure to show up with you at my side
MBWorld Fanatic!
Joined: May 2007
Posts: 2,071
Likes: 2
2007 S600
Apparently your buying a GL and an S. Correct?
Super Member
Joined: Feb 2008
Posts: 888
Likes: 2
From: Paradise (a.k.a. Austin, TX)
'09 S63 AMG
Which invoice? Dealers inv? Ture manufacturer-to-dealer inv? 2 different things.
Not sure if you care or not, but I don't think you should have signed anything that said "I agree to pay $500 over invoice". With the way the economy is and ridiculous gas prices, I would think the demand for gas guzzlers is at an all time low. I'll bet MB is finding it HARD to sell S-classes.
You're in the driver's seat.
(no pun intended)
Don't let the salesman make you feel like you don't call the shots.
Not sure if you care or not, but I don't think you should have signed anything that said "I agree to pay $500 over invoice". With the way the economy is and ridiculous gas prices, I would think the demand for gas guzzlers is at an all time low. I'll bet MB is finding it HARD to sell S-classes.
You're in the driver's seat.
(no pun intended)Don't let the salesman make you feel like you don't call the shots.
Thread Starter
Almost a Member!
Joined: Jun 2007
Posts: 54
Likes: 0
09 gl550,06 AM Vantage, 08 S600
Which invoice? Dealers inv? Ture manufacturer-to-dealer inv? 2 different things.
Not sure if you care or not, but I don't think you should have signed anything that said "I agree to pay $500 over invoice". With the way the economy is and ridiculous gas prices, I would think the demand for gas guzzlers is at an all time low. I'll bet MB is finding it HARD to sell S-classes.
You're in the driver's seat. (no pun intended)
Don't let the salesman make you feel like you don't call the shots.
Not sure if you care or not, but I don't think you should have signed anything that said "I agree to pay $500 over invoice". With the way the economy is and ridiculous gas prices, I would think the demand for gas guzzlers is at an all time low. I'll bet MB is finding it HARD to sell S-classes.
You're in the driver's seat.
(no pun intended)Don't let the salesman make you feel like you don't call the shots.
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Junior Member
Joined: Jul 2006
Posts: 62
Likes: 0
From: NY
2011 Porsche 911 Carrera,07 S550. 2010 E350 4matic, 05 Honda Accord V6.
about your purchase
When I ordered my S550 last May, I got the car in August.
Most dealers in NY required $5000 deposit. Because my wife did not wanted Mercedes, she wanted BMW. So I ordered S550 and X5 through my friend in Bently dealer. I know it is awkward, but since I got two cars with different brand, it was a good option that I could get good discount on both cars.
I did deposit $5000 for each car. And funny thing happened.
My friend ended up changing his work and he went to the different dealer before the delivery.
And what he promised me was that 08 X5 will be delivered around Sep.
Then 08 X5 did not came until nov. So we cancled the order, got the deposit back, and we just picked up 07 X5 from a BMW dealer. (She needed a car)( it was lucky since we got the 07 X5 4.8i $2000 more than
08 3.0i price with similar options.) She really likes the V8....
Well, good luck with your order. In your order, it will say that if you cancle the order, the law says you will get full refund about deposit. Make sure you read that in your order.
Most dealers in NY required $5000 deposit. Because my wife did not wanted Mercedes, she wanted BMW. So I ordered S550 and X5 through my friend in Bently dealer. I know it is awkward, but since I got two cars with different brand, it was a good option that I could get good discount on both cars.
I did deposit $5000 for each car. And funny thing happened.
My friend ended up changing his work and he went to the different dealer before the delivery.
And what he promised me was that 08 X5 will be delivered around Sep.
Then 08 X5 did not came until nov. So we cancled the order, got the deposit back, and we just picked up 07 X5 from a BMW dealer. (She needed a car)( it was lucky since we got the 07 X5 4.8i $2000 more than
08 3.0i price with similar options.) She really likes the V8....
Well, good luck with your order. In your order, it will say that if you cancle the order, the law says you will get full refund about deposit. Make sure you read that in your order.
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MBWorld Fanatic!
Joined: Apr 2008
Posts: 1,244
Likes: 2
From: Vancouver
C350 4Matic
I dont get it
Hes buying the cars he wants, hes no chump, hes spending big money on some serious cars. Why would he want a refund? Sounds like he know exactly what he wants and hes not going to need a refund. Only wishy washy people who are not sure what thay want or can afford would want a refund.
Now if they dont deliver on there part of the agreement and dont get the right car or color or options ect, then yes a refund is in order. But that is without question that they will have to give his money back if they are not providing him with what he is paying for.
As for the $5000 down, I personly think it could have been less, $1000 per car is enought. Some times dealers ask for more cus this makes you feel more commited. I do have one question, are these car speacial orders? If so than $5000 seems right cus if you did change your mind then they would be struck with odd cars that might be hard to sell.
Hes buying the cars he wants, hes no chump, hes spending big money on some serious cars. Why would he want a refund? Sounds like he know exactly what he wants and hes not going to need a refund. Only wishy washy people who are not sure what thay want or can afford would want a refund.
Now if they dont deliver on there part of the agreement and dont get the right car or color or options ect, then yes a refund is in order. But that is without question that they will have to give his money back if they are not providing him with what he is paying for.
As for the $5000 down, I personly think it could have been less, $1000 per car is enought. Some times dealers ask for more cus this makes you feel more commited. I do have one question, are these car speacial orders? If so than $5000 seems right cus if you did change your mind then they would be struck with odd cars that might be hard to sell.
Super Member
Joined: Oct 2007
Posts: 643
Likes: 51
From: Southern California
2007 CL550
Reason for Credit Check
I suspect the dealer prefers for you to lease your car. They did the credit check to see what kind of lease terms you qualify for. They make a large profit on leases. At the time you go to pick up your car, they are likely to give you a hard sell on the advantages of leasing and may even try to convince you that this will save you money. Be prepared to give them a stern NO!
MBWorld Fanatic!
Joined: Apr 2008
Posts: 1,244
Likes: 2
From: Vancouver
C350 4Matic
I suspect the dealer prefers for you to lease your car. They did the credit check to see what kind of lease terms you qualify for. They make a large profit on leases. At the time you go to pick up your car, they are likely to give you a hard sell on the advantages of leasing and may even try to convince you that this will save you money. Be prepared to give them a stern NO!
