Dealer Deposit to Pay Cash

NDevlin

Dec 09, 2021

I picked up my Badlands this weekend, the dealership was taking too long to approve my financing. Saturday afternoon I let them know that I would be paying cash if they couldn't have it sorted out on Monday. I stopped by first thing Monday to get my total price so that I could go and get them a bank draft when I was informed that they would require a $5,000 deposit to hold for 6 months if I were to pay cash to ensure I do not export to the US.

I have never heard of anyone having to pay an extra deposit (to be held without interest) to pay cash, just seeing if anyone else experienced this.

Deano Bronc

Last edited by a moderator: Dec 09, 2021

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Dec 09, 2021

So, reading this story, your not in the U.S..
What country are you in?

I dont know about other countries, but when I buy something it's mine to do with what I want and if that includes exporting it then so be it. A dealership should not have control over what you do with something you bought with your own money!

4 door, big bend, 222A options, auto, 2.3L. Ordered 9/15/2021, Delivered 12/7/2021.

Deano Bronc

Dec 09, 2021

If you have the cash to pay for it, just let the financing go through and you can then just pay off the loan.

2D Base Mansquatch: Ord 11-24-2021; VIN 3-16-2022; Schd 5/9/22; Sticker 5/4/22; Modules 5/10/22;Built 5/11/22;Shipt 5/12/22;Delv 5/24/22

Dec 25, 2021

There's no teeth to their threat to charge an extra "deposit" or make up rules you haven't agreed to (unless you already did, somewhere in the paperwork.) What's the rush? I assume they will want to be paid, so they'll get the financing done. Read what you sign carefully....no extra fee or deposit, no agreement not to export, no prepayment penalty. Then do what you want; keep the loan or pay it off immediately. They sound shady enough that I'd drive something else to the dealership and maybe even park it at a friend's until this is settled. Meantime, I'd practice a hearty laugh out loud at the threat of an extra $5k which they'll "hold." Ummm....no.

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