Are ALL Dealers Asking for the Added $500 Deposit ? ? ? ?

[Incognito]

My dealer here in Southern Alberta is asking for 10% of MSRP when I order, which is fine because I planning at least that.

I'm glad that you are fine with that.

If my dealer ever asked for 10% down 6 months to +1 year out , I would have told him to stuff it in his voluminous rectum.
Because it could double park there without notice.

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[Zach@Granger]

I would love to know if its true that Ford is requiring a min $500 deposit? If Granger is not going to ask for more them the first $100?

This is a good question. Originally our plan was to take no deposit in addition to the $100 reservation deposit. But with rules penalizing dealers on future allocation if we do not deliver the ordered vehicle to the reservation holder, that may change.

The last thing we would want is someone who is not fully committed ordering a Bronco, backing out and that then causing a delay in someone else on our list receiving their Bronco. The specifics of Ford's policy haven't been handed down, but when they are, we'll make a final decision on this.

Obviously not 100% of orders will go to the reservation holders because life happens (divorce, job loss, etc.) But we have to be as close to 100% delivery as possible. So we don't want to put undue financial burden on our reservation holders, but we also don't want someone who isn't fully committed causing harm to those who are.

 

[Stroopaloop]

I know we all put down a $100 deposit to start with. Are all dealership now going to make you add $500 more to your deposit?

Are there any dealers just staying with the $100 total that you put down in the first place?

Spoke with my dealer Lamaroux Ford in Massachusetts. No markup, they will give x-plan pricing, $350 dealer fee, no additional deposit. They won't go below invoice but aren't overpricing either.

 

[Drex]

Tough balance on the non-refundable deposit. Dealers don't want to get hit with penalties, customers don't want to fork over money (for most of a year) and worry that their dealer will hit them with last second ADM or $2000 floor mats (giving them a choice of losing $500 to what might have been a premeditated scam and walking away, throwing good money after bad and paying ADM, or incurring legal costs trying to enforce a purchase agreement that will probably be higher than the ADM after those legal costs). There is also the very real concern with sales down this year that a dealership might be on the edge of solvency and simply fold/go bankrupt between order/deposit and a delivery. Money gone and nothing for it (cannot dispute a credit card charge after 90 days, at least in my State, same outcome if refundable or non refundable deposit).

I suspect some of the unintended consequences of Ford's punitive policy to keep speculators out and getting orders to reservation holders will be less overall orders due to people's fears as outlined above if deposits are widespread. Lawsuits against Ford for lost deposits if they coerced dealers into taking them, and actually more ADM as people are more locked in financially (payment buyers will pay the monthly ADM bump rather than lose $500 and get nothing.). The higher the deposit, the more the concerns and ADM abuse.

A tough balance indeed...

Edit:. It seems a question of trust between dealers and customers (and customers will lie to themselves about their likely financial ability in the future) Human nature is to protect oneself. Human nature also projects one's own thoughts onto others. Liars believe everyone is a liar and the honest believe everyone is honest. Con artists would not exist without the honest. Anyway... If a dealer wants a relatively big deposit presumably because they don't trust me, i would sure as heck wonder if it was them who was the untrustworthy one. Enough introspection, I'm on the clock right now, time for work

 

[williamoneal]

I have no problem putting down extra $ at the time I actually place an order. I presume at that time all B&P and available features would be finalized and I can order or cancel. (Right now I am leaning towards cancelling). I do have an issue with asking for additional $ when the Order option details are not finalized and available. They want you to put down more $ to know if you are serious? Tell them you can't even see what final options are available to even tell them if you are serious.
I've never seen a launch that this late in the game can't issue a Final Available Options list. Sounds like the Purchasing team needs to be seriously re-evaluated. Can't find a Tier 1 that is willing to paint 190,000 Tops? Should have worked that detail out a long time ago. The concept of a new Bronco has been out for years. No excuse for not have options like this and others worked out by now. (Roof color limitations, Interior limitations, Wheels shown in promos and not available on certain models, roof racks not available on certain models, sound deadening not available with certain motors,???) Extremely poor planning. Sorry to be a negative Nelly here. I am definitely not that guy. Just very disappointed. 50/50 on BL or cancel.

 

[Atomicdog]

Bronco is not any other vehicle.

As excited as I am for mine, a Ford Bronco IS just any vehicle.

 

[Wanted33]

Remember, a reservation, and a deposit on an order are two different things. While I have 100 bucks in a reservation I do expect the dealer I buy from to ask for a $500 deposit when I order. Of course I'm sure the dealer you order from knows if you don't take the Bronco when it comes in somebody else will jump on it pronto.

 

[DrewBronc21]

My dealer here in Southern Alberta is asking for 10% of MSRP when I order, which is fine because I planning at least that.

that’s insane.

 

[DrewBronc21]

I would put up an extra $500 if I’m getting a complete sale contract signed by authorized dealer rep locking in total vehicle price. Has to be official and not an email. I have a concern that many people are going to go to pick up their Broncos and find different prices than agreed upon in conversations or emails.

 

[PatJayRob]

Dealership are going to be penalized via allocation on not converting reservations to orders and then selling those orders to the same customer. I believe dealerships are trying to protect their total allocation number by making sure that the customer that order are the same ones that purchase.

 

[pan-y-cerveza]

My dealer here in Southern Alberta is asking for 10% of MSRP when I order, which is fine because I planning at least that.

Yikes. I'm ok with a deposit but you're talking minimum $4000 and likely more. That's insane.

 

[Gamecock]

My dealer here in Southern Alberta is asking for 10% of MSRP when I order, which is fine because I planning at least that.

I wouldn't do that just out of principle...if they have 50 reservations, they would be holding $225,000 for 6 months to a year and collecting interest, or paying down their own debt? No way. I'll keep my money in my account working for me, and give them a small amount to hold for the order, $500 max.

 

[Austin26]

Current info available is that it is up to the individual dealer to decide what, if any, deposit they will require at order time.

(My understanding is that this is in line with regular practice for any special order vehicle.... entirely up to the dealer and potentially negotiable.)

Yes, we would normally take $500-$1,000 as a non-refundable deposit for a factory ordered vehicle. This was with Nissan a few years ago.

If someone found that unreasonable, they're 99% not serious in the first place or unable to buy or finance. Plus we wouldn't want to be stuck with some possibly difficult to sell vehicle. The Bronco won't suffer this I don't think right away.

The deposit will go to your down payment.

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