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  #1  
Old 04-30-2008, 04:08 PM
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Has anyone tried to back out of a deal?

Not that I'm going to do it but I'm having a bit of buyers remourse. Car is ordered but I haven't signed on the dotted line yet - just a $1000 deposit. Am I bound to anything?
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Old 04-30-2008, 04:34 PM
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Do you still want a BMW? If so the dealer should work with you and put that $1000 towards something else. I imagine you ordered something pretty standard they will be able to sell.
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Old 04-30-2008, 04:34 PM
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why the remourse? I don't think you're bound if you haven't signed for anything. What did you sign when u left deposit? At worse, they keep your deposit.
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Old 04-30-2008, 04:43 PM
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Quote:
Originally Posted by PUZZ
Not that I'm going to do it but I'm having a bit of buyers remourse. Car is ordered but I haven't signed on the dotted line yet - just a $1000 deposit. Am I bound to anything?
It all depends on what you signed and what your state laws are. States frequently have laws targeted specifically at automotive sales.

But, if you haven't signed anything yet, I cannot imagine that you are bound legally in any way, since, I believe, the UCC (Uniform Commercial Code) says verbal contracts are unenforceable... or at least my memory of Business Law seems to recall that tidbit.

But assuming they gave you a receipt for the deposit, you might want to check the fine print, as it might count as a written agreement.


The best thing is to not get into the legalities, and suggest to the dealer that you might be a customer down the road, and that some hopefully temporary financial setback has happened. Most dealers will not attempt to hold onto a deposit if you push them, as the courts generally frown on the dealer getting cash for nothing, and complaints to the BBB do not help them out either.

If you just ordered it a few days ago you have a much better chance. If you ordered it two months ago and it is on a truck on it's way to the dealer, and it is an odd vehicle (say, no leather seats, but with the electronics package, comfort access, etc.) expect to get a lot of resistance to backing out of the deal.
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Old 04-30-2008, 04:47 PM
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What kind of remorse are you having?

Ironically, I'm kinda in the same shoe as you. I really love the X5 and want it to be the car for me. But sometimes reading all the problems people are having in this and other forums is pretty disheartening. I'm about to drop $70+K into a car. Really don't expect so many problems. The big ones for me concern the transmission.

But after thinking about it, what other car would I have to settle for if I didn't go with the X5? Lexus RX400h or MB550? Granted both are great cars. But at the end of the day, it's not a BMW. And won't give you the excitement of one. To me a comparable Porsche Cayenne would be in a different price range (reason why I don't include that into my comparisons).

You also have to account for the fact that most people who don't have problems with their cars won't post. So for what's that's worth. I'm still on course with my order and purchase. I signed up for a lot of BMW Ultimate Drive events with the X5. So hopefully, I'll really get a good feeling of the car and make my final decision there.

As far as what you can do if you want to back out. It depends on your state. In California, you can back out up to the point where your order is at the dealers lot and get your deposit 100% refunded. Plus if your build isn't a weird set of combiniations, the dealer won't have any problems selling it.
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Old 04-30-2008, 05:09 PM
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Quote:
Originally Posted by mtech8
What kind of remorse are you having?

Ironically, I'm kinda in the same shoe as you. I really love the X5 and want it to be the car for me. But sometimes reading all the problems people are having in this and other forums is pretty disheartening. I'm about to drop $70+K into a car. Really don't expect so many problems. The big ones for me concern the transmission.

But after thinking about it, what other car would I have to settle for if I didn't go with the X5? Lexus RX400h or MB550? Granted both are great cars. But at the end of the day, it's not a BMW. And won't give you the excitement of one. To me a comparable Porsche Cayenne would be in a different price range (reason why I don't include that into my comparisons).

You also have to account for the fact that most people who don't have problems with their cars won't post. So for what's that's worth. I'm still on course with my order and purchase. I signed up for a lot of BMW Ultimate Drive events with the X5. So hopefully, I'll really get a good feeling of the car and make my final decision there.

As far as what you can do if you want to back out. It depends on your state. In California, you can back out up to the point where your order is at the dealers lot and get your deposit 100% refunded. Plus if your build isn't a weird set of combiniations, the dealer won't have any problems selling it.
The remourse I'm having has much to do with the fact that I can buy my perfectly fine 2004 E500 off lease for $22,000 and have zero payments (other than maintenance) for the 12 or 18 months I would likely hold onto it for.
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Old 04-30-2008, 05:22 PM
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Quote:
Originally Posted by PUZZ
The remourse I'm having has much to do with the fact that I can buy my perfectly fine 2004 E500 off lease for $22,000 and have zero payments (other than maintenance) for the 12 or 18 months I would likely hold onto it for.
Doh! That's write. I remember you posting your delimena in the past!

Keeping the E now might not be a bad idea. With the rising cost of fuel and the kinks that still need to get worked out of the E70. Driving the E for another 2-3 years might not be a bad idea. Then when it's all paid off, you can get into a more reliable X5 and use it as a weekend car!
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Old 04-30-2008, 10:21 PM
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I have a Mercedes AMG 55 as well but I drive my X5 everyday. With a twin turbo diesel X5 with 600nm of torque and with twice as good fuel economy I prefer to drive it instead of the Merc.

I believe the US is getting the diesel sometime this year, use your $1,000 deposit and change your order to a sports diesel X5, be the first to have an alocation

I have given our dealer a $1,000 deposit towards a convertible M3 with double clutch and they don't arrive until the end of the year but at least it gives me the right to one in the first batch that comes out.
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Old 05-01-2008, 07:20 PM
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Diesel costs $4.53 a gallon here in the US last I saw. Even with the better mileage you get with diesel, I wouldn't count on many americans buying a diesel.
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Old 05-01-2008, 11:48 PM
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Quote:
Originally Posted by lakai
Diesel costs $4.53 a gallon here in the US last I saw. Even with the better mileage you get with diesel, I wouldn't count on many americans buying a diesel.
I get combined city (250klm) & country (350klm) that's 600klm each week, I average just under 9ltr per 100klms. That about 32 miles per gallon. My X5 has only done 4000klm so it's not run in yet and I drive it hard and during the country leg each week the X5 is loaded with gear and there's 30klm of actual beach driving in the country leg (that uses more fuel than city driving)

If it was a V8 I reckon I would be lucky to get half that?

The service intervals are longer & cheaper and the diesel X5 is some thousand of dollars cheaper to buy than the V8.

The price of deisel fuel could be double the price of regular gas before the overall cost of a deisel verses V8 became even.

The $7,000 odd ( Australian Prices) saving on purchase alone would buy all your deisel for 2 years without bring the fuel economy into the equation, that would then push it out to 3 years.

My $0.02
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