Security Deposit? WHY
11-11-2006, 03:13 AM
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I was dealing with one dealer here in FL that gave me a quote etc and it didn't include a security deposit. The other dealer that I went to is asking for a security deposit. The money factor on the 1st quote was .00139 and the quote was in Oct. The 2nd quote w/ the security depo has a MF of .0007 and was done in Nov. Can someone offer insight into why I would need to make a security depo if I'm leasing through BMWFS.
CK
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11-11-2006, 05:51 AM
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Originally Posted by cednite' post='354825' date='Nov 11 2006, 07:13 AM
I was dealing with one dealer here in FL that gave me a quote etc and it didn't include a security deposit. The other dealer that I went to is asking for a security deposit. The money factor on the 1st quote was .00139 and the quote was in Oct. The 2nd quote w/ the security depo has a MF of .0007 and was done in Nov. Can someone offer insight into why I would need to make a security depo if I'm leasing through BMWFS.
CK
CK
I don't know the answer to your question, but simple logic should tell you that they are trying to screw you. Why do I know that? Because they are car salesmen. It's as simple as that.
I don't understand why car sales has to be such a shady business? It's just insulting.
I tried to lease my E60. I picked out the options and worked out my lease deal, I signed on it, and paid the deposit to order the car. Then, during the weeks waiting for the car to arrive from the factory I would periodically get phone calls from the dealer saying that they wanted more money on the down payment. They kept talking about my credit history. My credit history is as perfect as anyone can hope. But they would just make up reasons why they needed more money upfront. This happened several times, and eventually they were asking for a full pre-paid lease.
I got so fed up with their calls, that I stopped answering the phone or returning messages. Finally, when the car arrived, I went in unannounced with a cashiers check for the sticker price and told them to forget the lease altogether.
In the end, I think purchasing was the best route.... because I have been higher mileage than anticipated... but it was just insulting to be treated that way. There was no reason for it.
11-11-2006, 08:33 AM
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Originally Posted by cednite' post='354825' date='Nov 11 2006, 04:13 AM
I was dealing with one dealer here in FL that gave me a quote etc and it didn't include a security deposit. The other dealer that I went to is asking for a security deposit. The money factor on the 1st quote was .00139 and the quote was in Oct. The 2nd quote w/ the security depo has a MF of .0007 and was done in Nov. Can someone offer insight into why I would need to make a security depo if I'm leasing through BMWFS.
CK
CK
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