US buyers - Anyone with multiple deposits?

[mjw930]

Like the title says, has anyone placed a refundable deposit with more than one dealer?

Corvette and Porsche buyers do it all the time, just wondering if anyone here has. BTW, I’m considering it.

 

[SlavaUkraini]

I'm pretty sure Lotus is cross checking deposit names. Lotus USA requires a copy of your drivers license at your initial deposit.

So do Porsche.

 

[mjw930]

Yes, they do but there is nothing that says I can’t buy 2 cars. In fact, there are a couple on this forum in the UK who have 2 deposits with Lotus directly. Their form even says if you want to buy more than one car enter an additional reservation.

I’m not saying I’m going to do it or even whether it’s a good or bad thing, I’m just asking the question because I know it’s done all the time.

In the US dealers operate as franchise’s meaning they are independent of the OEM. The OEM has a lot of control but not complete control like they do in other countries. There are many US dealerships which maintain private waiting lists the OEM has no knowledge of. It’s good to hear that Lotus is trying to enforce some standardization here but that doesn’t mean some dealers won’t go off the reservation (pun intended). I’m just putting things out there for discussion.

But back to the point, if I were to do it I would be absolutely open with the dealerships and tell them I already have a reservation with another dealer but I’m willing to tie up another $2500 if you’re convinced you can deliver quicker. Leaving it up to the dealer whether they want to go the extra mile and steal the sale. It’s a game working with dealers, I’ve been doing it for 40 years and as long as I’m up front with them I have no ethical problems.

 

[TXEMIRA]

1. If it’s bad as a potential buyer to do this it’s just as bad as a dealer adding Mark-Up without the potential buyer knowing. Actually Mark-Up is worse.

2. Everyone has at least one ride or die that would let you use their name for a deposit. It’s silly to think it’s not happening.

3. Just not sure anyone would admit doing it as it’s only bad for them to admit it. The only good comes from later execution and keeping a secret.

4. I did not do this.

 

[mjw930]

I did confirm Lotus is sent all the deposit information and will require an explanation if someone places more than 1 reservation unless it’s at the same dealership. Good for them. In the Corvette and sometimes the Porsche world it’s the Wild West.

Of course nothing prevents your significant other from placing a reservation

 

[Balboa]

Lotus is checking and if you have a deposit at two dealerships they are cancelling the newer order and refunding deposit...at least in California

 

[nahanni]

So do Porsche.

Yes, the Porsche sales manager said no way for two deposits after I suggested going to the 911 GTS and perhaps, the Carrera S, to have a better chance, if ordering. He also said they are up to two years for delivery. It's crazy times in the automotive and housing industries.

 

[mjw930]

Yes, the Porsche sales manager said no way for two deposits after I suggested going to the 911 GTS and perhaps, the Carrera S, to have a better chance, if ordering. He also said they are up to two years for delivery. It's crazy times in the automotive and housing industries.

Which is why my 1 year old $107,000 MSRP 718 Spyder is now commanding $140,000 in some US markets. Crazy times indeed.

 

[SlavaUkraini]

Yes, the Porsche sales manager said no way for two deposits after I suggested going to the 911 GTS and perhaps, the Carrera S, to have a better chance, if ordering. He also said they are up to two years for delivery. It's crazy times in the automotive and housing industries.

Maybe Canada has different rules. You can absolutely do it in the US. The market is indeed crazy. I had deposits on both a cayman GTS and a cayman GT4 at one point

 

[Nymare]

Yes I have two deposits placed

 

[mjw930]

Maybe Canada has different rules. You can absolutely do it in the US. The market is indeed crazy. I had deposits on both a cayman GTS and a cayman GT4 at one point

Exactly my point, Porsche, or some of its dealers may claim to control it but that’s simply not true. Their allocation system doesn’t care who’s name is applied to the commission number. Hell, their system even has provisions for dealers to exchange allocations. They even have a marketplace on their dealer net for this purpose.

 

[vdr]

I had an initial deposit placed with a dealer in another state back in July and placed a subsequent second deposit with a dealer closer to home in early August. Lotus flagged my second deposit and asked me to cancel one.