I'm debating on whether or not to order my Mini soon, or later on down the road. I can't afford to buy a Mini right now, but I will be able to in a couple months. I figure that since it takes 3 months anyway, I might as well order my car now, so when I'm ready for it, it will be almost here. But here's the question: If for some reason I need to cancel my order because I can't sell my current car, or something major happens...do I lose my $1,000 deposit? I have friends who have ordered cars and they've all said that their deposits were refundable, but my dad said he wouldn't be surprised if Mini did things differently. Since I'm 17, $1000 is a lot, if I will lose my deposit, I guess I'll wait until i'm certain there won't be an issue before I place my order.

Thanks a lot, hopefully someone can help.

 

Yes, you should be able to get it back...but the dealer will take that spot. You usually can't give a buddy your spot or anything.

 

Kyle, the deposit policy varies amongst the dealerships. Why don't you call yours and ask them to fax you their ordering/deposit policy? I know that many dealerships have so many customers waiting to order MINIs, that if you don't take delivery, they can sell it immediately to someone else. :smile:

No harm in asking them. And once you are reassured that your deposit is refundable, absolutely order yours! Good luck and keep us posted!

Clover

 

That's fine...I don't know anyone else interested in a Mini right now anyway...I just want to make sure I can get my $1,000 back if I cancel the order.

 

You must discuss this with your dealership - the policy is not MINIs, it is your dealerships.
Although if you begin your purchasing by saying "by the way, I might want to cancel later", you might not get perfect service!


A signficant issue is (1) when you cancel and (2) the ease with which your order can be re-sold.
If you cancel before the car is built, it can be re-spec'ed and should be no issue to get a deposit refund.
At the other extreme, if your car is delivered, and you refuse to take it, you probably don't deserve to get your deposit back.
Also, if you order an unusual spec that the dealership might not easily sell to someone else, you will have more trouble ...

You could consider a used MINI; older models are showing up more frequently and at better prices now and you would not need a 3 month wait ... check out eBay to get an idea of availability and price.

 

Well, when I go in on Wednesday, I'm gonna sit down with my salesman (already have one) and go over everything. That will be my first question. I really hope the deposit is refundable, it would take a huge weight off my shoulders.

 

I am 90% sure I wouldn't cancel, I'm just saying that if an extreme circumstance comes up, I want to make sure I'm not out $1,000. Since you're from Mass, you may have the info I need. The dealer I'm going through is Mini of Peabody, in Mass....did you buy your Cooper there by any chance?...if so, do you know their policy?

 

I'd be sure to get the policy in writing, sweetie, just in case. That is, if the motoring advisor (salesperson) says that the deposit is fully refundable. Good luck!

Clover

 

Did he buy is there?? He practically has moved out of his home and into MINI of Peabody.

Who is your salesman?

 

Hrach

 

Um...guess that means he knows the ropes!


Clover

 

I was in Balboa Park in San Diego and saw a BRG convertable so naturally I drug my wife over to take a look at it. It was great

The couple that had it said they sold their house in MA and everything in it and bought the MINI and have been traveling around the country in it. Great idea, but my wife said NO!

They wern't young but no where near as old as I am.

Earl

 

Kyle,

As Jared (Pezboy) says, I know MINI of Peabody quite well
My sales person was Joel.

You say you are dealing with Hrach - he is a very nice guy. But please do me the favor of talking with the General Manager, Martin, about your deposit concerns - not only with Hrach.

Good luck.

When are you there on Wednesday - maybe I should try & meet you

 

Kyle,

I just took a look at my Purchase Contract from MoP. One section states that if you fail to pay for and take delivery of the vehicle within 48 hours of being notified that it is ready for delivery your deposit MAY be retained by the dealer to cover costs incurred. It reads like standard, boilerplate contract legalese meant to cover them if necessary.

That being said, I have had nothing but good dealings with MoP (Joel) thus far and believe that they will treat you fairly regardless of the circumstance.

(oh, did I mention I pick up my MINI from MoP in 2 HOURS..WOO HOO!!! )

 

I can tell you this much, Kyle. I bought my car from from Herb Chambers in Boston (the other show in town besides Peabody - definitely the seedy, scummy, OFF-Broadway show), and even they said that the deposit was refundable unless I ordered some crazy color combo like yellow paint with red interior and they had trouble selling it to someone else. And that was 2+ years ago, when the waiting lists were presumably longer. Since my horrible sales experience at HC, I have dealt with Peabody whenever feasible, and have found everyone there to be very forthright and fair. I'm sure they'll be willing to explain their deposit policy in simple language, and put it in writing for you, too.

My other piece of advice (and I guess this is just me being a cranky old man of 29) would be to wait out the "couple months" until you can definitely afford the car. Any waiting time seems like an eternity with a car as great as the MINI, but trust me, you'll enjoy it so much more if paying for it isn't right at the limit of your financial abilities. Wait a few months, do your research, and save yourself the stress. You never really know what can happen to your bank account in a few months. If all goes to plan, though, you'll have some extra cash available for a mod or two, or to take a weekend road trip!

Good luck,
Chris

 

Kyle, I hate to be the voice of reason (AKA the wet blanket), but I agree with Chris. This board has seen its share of "fire sales" -- folks who had to sell their MINIs because they could not afford to keep them. It is a wonderful feeling to order and drive a car that fits you to a "tee", but worrying about whether you can make the next payment would surely contaminate that feeling. You have lots of time ahead of you to have that new car experience. Please be sure that you can afford a new MINI before putting your heart or deposit on the line.

 

In response to the last few posts. Affording the MINI will not be an issue on a month to month basis. The only reason I can't afford it now, is because I haven't sold my current car yet (worth $10k) so I have no down payment. As soon as I sell my car, I can put $10k down on the MINI, and I will be able to afford it no problem, with payments not much higher than my current payments. The ONLY issue is, if I order the MINI (my parents said they'd put down the $1,000 deposit for me) and it comes in before I have a chance to sell my current car, then what do I do? Other than that I'm fine, there is no financial burden or anything.

 

Kyle, Maybe you should try to sell it in THIS calendar year? Once Saturday rolls around, your car will be another year old! Something to think about...

Clover

 

I went through this issue in both CA and NY (different cars). In both location I was told that no matter what the dealer SAYS the deposits are REFUNDABLE. In New York, this actually came up. When I said that I wanted a deposit back if they didn't deliver my vehicle in 24 hours (long story there), they said that the deposite wasn't refundible. I told them that wasn't what my laywer said and they asked when I wanted to pick up the check (They did get my car to me, but it took 40 hours. They'd left it on a railroad siding in Micagan for three wheeks while they were telling me that tracking the vehicle was going fine.)

Anyway, check in your state, but I bet they can't keep the $.

In fact, I did this with a $2k deposit on an MDX..... (Didn't have the $ to buy when I put the deposit down).

Matt

 

In that case, your situation is much less delicate than I was assuming. Sounds like this won't be much of a stretch for you at all. :smile:

One more thing to keep in mind as far as trying to time the selling of your current car: depending on where you get your financing, you may actually get a better rate if you borrow a larger sum and then immediately pay off a big chunk of it the first month or two (after selling the car). I was planning on financing $12k when I bought my car. The bank I used had a rate that was 0.5% better if I borrowed $16k instead, and the rate was unaffected if I sent in a check for $4k the first month. Strange, but true.

 

Kyle:

Glad to hear it! Have fun with the order and the waiting and the whole bit! Keep us posted...