Buying a new car - did I mess up?
Buying a new car - did I mess up?
So I found the G37 that I want to buy, but the dealership won't have it until Thurs since they bought it from another state. It's the exact color, interior and options that I want, so I jumped on it.
I went to the dealership and put down a $500 deposit on it. Since it's not physically there I wasn't comfortable buying it. The sales guy also assured me it was a refundable deposit and it basically gave me right of first refusal, and he noted it on the paper that it was refundable. The thing is, though, that I signed a sheet acknowledging the price they're asking minus the deposit I put down. I didn't think to negotiate the price yet as I haven't actually bought it and I'd rather do that once I see it. Did I just lock myself into their asking price by signing that? Part of me feels like I did, another part of me thinks I'm ok since I haven't bought it and I'm not committed to buying it.
I went to the dealership and put down a $500 deposit on it. Since it's not physically there I wasn't comfortable buying it. The sales guy also assured me it was a refundable deposit and it basically gave me right of first refusal, and he noted it on the paper that it was refundable. The thing is, though, that I signed a sheet acknowledging the price they're asking minus the deposit I put down. I didn't think to negotiate the price yet as I haven't actually bought it and I'd rather do that once I see it. Did I just lock myself into their asking price by signing that? Part of me feels like I did, another part of me thinks I'm ok since I haven't bought it and I'm not committed to buying it.
Since you have the right to have your deposit refunded, you are fine. They do not have any additional leverage on price, because you have the ability to walk away. On the other hand though, they know it is the exact car you want and you have expressed enough interest to hold the car, so they may be firm on the price due to this. Also, dealers tend to be a little less negotiable on cars they just took in. Good luck, don't be afraid to walk if they cannot reach a fair price, walking away is your biggest advantage.
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JoshB
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