[lyjw88]

I ordered a 335i coupe yesterday but I feel that I'm paying way too much.

So I called my dealer and asked whether I can cancel my order,

and he said it is not possible.

Is it true that cancelling an order is not possible?

[Carnage]

did you put any money down, secure financing, sign purchase agreements, etc?

[lyjw88]

Yea, I paid $500 for a deposit and I signed up for purchase agreements

[Carnage]

Originally Posted by lyjw88

Yea, I paid $500 for a deposit and I signed up for purchase agreements

if you've signed the purchase agreement then you've signed a legal agreement to buy the car and the dealership can hold you to it if they chose. Some dealers will allow the agreement to be broken if you agree to give up the deposit but they are under no obligation to do so.

Read the terms of the contract and see what exactly it states since legal rights vary from state to state. You may find a way out there.

[obLu]

Eh, the dealer's purchase agreement is probably worthless. And if you really complain they'll most likely back down. But I'd re-read it just to be safe.

They're just trying to cover their butts so they're not stuck with a custom ordered car that nobody wants.

I talked to a lawyer friend one time about the legality of making a customer sign a purchase agreement for an automobile they were ordering. He indicated that it's possible a court would uphold it, but that in automotive sales the customer has more rights / leeway than the dealer with the courts. He was confident that without a physical product or a specific delivery date that it wasn't really a purchase agreement. Just an intent letter and good faith deposit.

But that was his interpretation.

[John 070]

Originally Posted by obLu

Eh, the dealer's purchase agreement is probably worthless. And if you really complain they'll most likely back down. But I'd re-read it just to be safe.

They're just trying to cover their butts so they're not stuck with a custom ordered car that nobody wants.

I talked to a lawyer friend one time about the legality of making a customer sign a purchase agreement for an automobile they were ordering. He indicated that it's possible a court would uphold it, but that in automotive sales the customer has more rights / leeway than the dealer with the courts. He was confident that without a physical product or a specific delivery date that it wasn't really a purchase agreement. Just an intent letter and good faith deposit.

But that was his interpretation.

I agree--it's normal to sign a purchase agreement. It's also important to understand it's not like a finance agreement--on the finance agreement, it warns you that you cannot back out simply because you have changed your mind, in bold letters. Not so with the agreement on the car.

But I guess dealers can be bullys--if they have an agreement where someone's overpaid, it's in their interest to hold them to it. Kinda like nobody gets out of a lease, it's a win-lose in favor of the lessor. But if you got a big discount, the dealer would easily let you out of an order, betting they can do better.

Long story short I think you can get out, just mention DMV or consumer affairs and short of a special order M6 with some bizarre equipment, let's see how quickly the dealer refunds your money.

[lyjw88]

thank you guys for replies

[DrDomer]

My dealer said the purchase agreement is not binding. They even told me they won't deposit the check I gave them for $1000 (it's been 6 weeks, still haven't). To top it off. They said if I changed my mind, they would refund the deposit. Probably because I ordered a car they could sell in a week anyway. I would at least test them. Isn't there some cool off period with buying a car that even if you sign the finance papers that you can return the car and get your money back within a specific period of time?

[CALIF65GM]

Unless you've physically driven the car off the lot, you should be able to walk on the deal. But you may lose your deposit.

[uhaulball]

u can cancel, dont worry about it.

[fairtex]

In California, it's a state law that the dealership has to refund your deposit if you request it.

[John 070]

I agree with all of the above. But financing is different--in my case, my deal was with the dealership, and then they reassign it to say, Bank of America. And this was a learning process too--no matter what I could come up with, say 5.75% for 60 mos. from the credit union, they come back with something lower. Wonder what they would have said if I just made something up and told them the credit union was doing 4%?? *lol* I'm really glad a friend told me about the above, because I was perfectly happy with 6.35%, and wound up at 5.5%.

Anyway, from my contract (finance agreement):

NO COOLING OFF PERIOD
State law does not provide for a cooling off or cancellation period for this sale. After you sign this contract, you may only cancel if the seller agrees or for legal cause. You cannot cancel this contract simply because you change your mind. This notice does not apply to home solicitation sales.

But again, that's the financing part, not the purchase order......

[DrDomer]

That sucks... In Iowa there is a cooling off period... I think 48 hours.