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      06-06-2012, 02:57 PM   #1
murphy
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Is there any way I can Cancel

Hi Guys

I have a problem I have agreed to lease an brand new m3 that has been built to order to my spec. Im due to pick up the car next week. I haven't signed any finance papers but I have signed an order form for the car with my spec and paid a 2 grand deposit on my credit card.

The problem I have is, i have found out I could lose my job in the next few weeks. As a result i now don't want to lease the car, but I'm unsure how I get out of this as I have signed the order form and paid the deposit. I expect I will lose the deposit if i cancel which I'm gutted about, cos i will really need the 2k if i do lose my job, but I'm also worried the dealer could come on for more money. can you guys advise what i should do ?
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      06-06-2012, 03:08 PM   #2
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Sorry to hear your troubles, not sure what's best rather than a phone call to dealer to get it sorted ASAP
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      06-06-2012, 03:11 PM   #3
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As above, I'd call the dealer and explain your circumstances have changed. Do they not have to give you a period of notice or some kind of redundancy? If not, an M3 seems like a hell of a commitment to make!
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      06-06-2012, 03:14 PM   #4
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In the U.S., the customer is always entitled to a deposit refund if one decides to walk out. At least, directly from my dealer, I was able to cancel, even if the vehicle makes it to the dealership. The deposit is not a contract. It's a deposit to get the vehicle started on the line for a custom order. At the end of the day, the dealer can always absorb inventory and sell it.

However, if you put together weird color combos and skip on certain key features (like GPS, and/or leatherette as opposed to leather), the dealer may prevent you from cancelling. <-- this is coming from the salesman - but you should be able to walk out.

Be generic and email (obtain this in writing!) your dealer to confirm if it's OK.
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      06-06-2012, 03:16 PM   #5
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Can't you delay the collection of the car? If so find out wether your job is lost before cancelling.
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      06-06-2012, 03:20 PM   #6
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You may be able to get some of your deposit back - i have bought 2 new M3's and i only paid £1000 deposit on both so unless your car had lots of individual/strange options that might make it a difficult car for the dealer to shift then i think a part refund may be a possible solution. I would contact your credit card company and see if they can help. Have you spoke to the dealer yet?

Here is a link regarding deposit returns:

http://www.adviceguide.org.uk/wales/...r_services.htm


Good luck.
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      06-06-2012, 03:20 PM   #7
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Tell them you have to wait a month to see if you are keeping your job or not?!
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      06-06-2012, 03:40 PM   #8
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I don't know about your £2k but I certainly wouldn't worry about them coming after you for any more cash. I cancelled a lease order on an F10 520d M Sport and the dealer just shrugged and said 'No problem. We'll sell it'. Like you, no finance docs had been signed.

Speak to your dealer about the £2k, see if they're arsey and then speak to someone who knows about consumer law.
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      06-06-2012, 04:17 PM   #9
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I feel for you. The best approach imo is to phone or prefably visit the dealer and be honest and polite and see how they can help. If it all gets difficult I am sure they will not come after you for anymore than the 2k deposit and at this stage would be premeture for you to offer more. On a more postive note if the colour and spec is sensible hopefully worst case scenario they will sell quickly and give you your £2k back post sale if not before.

Good luck.
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      06-07-2012, 02:46 AM   #10
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Is there an option for you to buy a cheaper car from them and transfer the 2k deposit into this. That way they still get a sale and retain you as a customer and hopefully find someone else for the M3.

Post the colour and spec on here as you may get someone on here wanting to take speedy delivery of a new M3.
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      06-07-2012, 03:55 AM   #11
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The deposit is there for two reasons.
Commitment, and a degree of compensation against the loss of order.
I wouldnt expect to have it returned if I cancelled what is ITRO a £50k+ order?

Bad luck on the job, but be realistic - by own admission you just don't know what will happen to you yet.
Be positive!
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      06-07-2012, 03:59 AM   #12
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I nearly bailed on my lease due to finding a house we wanted. I spoke to the dealer who were happy to sell/lease the car on.In the end the house fell through. Speak to your supplier.They only get spooked when you order odd specs and colours.
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      06-07-2012, 04:10 AM   #13
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If you havenít signed the finance documents you will be able to cancel.

If you have signed an order form they do have a right to chase you for their costs for you breaching the contract.

Most dealers would keep you deposit on that basis unless car was well weird spec that they would never sell.

You will need to negotiate with them. Good luck.
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      06-07-2012, 06:03 AM   #14
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How about having an honest conversation with your sales person?

Go in. Face to face. Explain your concern. If you will know one way or the other about your job in a week or two, then ask to delay. If you really do need to cancel regardless, then ask for your deposit back once they sell the car to someone else.

Cant see why they wouldnt do that. Possibly keep a small amount back for their trouble.

There will also be cancellation terms on the order form. Check what they say.
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      06-07-2012, 07:29 AM   #15
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You might get another job and then there are no worries.
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      06-07-2012, 10:45 AM   #16
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Quote:
Originally Posted by davyk31 View Post
You might get another job and then there are no worries.
I wonder why he didn't think of that lol
An m3 is a huge commitment, the sole reason why I haven't bought one even tho many a time I've come close. unless you think you can comfortably maintain it over lease/hp period if your not paying cash...you simply cannot take the gamble.
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