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Discussion Starter · #1 ·
Hello everyone,

This is my first post on this forum. I ordered a BMW 330CI about a month ago. Unfortunately, I may lose my job in the next few weeks... so I might have to cancel my order. :cry: I am supposed to receive my car next week....

The question that I have for you is: do you think I can cancel my order without penalty? I left a deposit of $2500 on my credit card, any chance that I can get it back? By the way, I am in Canada (if it makes any difference).

It's a shame if I had to cancel my order, but I guess that losing a job is one of those curve balls that life throws at you.

Thank you for your input.

Regards,
countx
 

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First of all, why did you deposit so much money? Usually, the dealer doesn't ask for more than $1000 USD.
Secondly, it all depends on your paperwork. You salesman should've specified if the deposit is refundable or no. This may be indicated on your confirmation stub.

P.S., $2500 canadian I assume?
 

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Discussion Starter · #3 ·
Hi Andy,

The deposit is in Canadian funds... you're right, I should have read the terms and conditions before going in. I just read in the back of the contract that if I do not accept delivery of the car, I would have to pay the dealer $1000 in liquidated damages, plus taxes. There is no mention of the deposit.

I always laugh when my clients sign a contract without reading it first.... who gets the last laugh now?!?!?!

Regards,
countx
 

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Well, I think you should talk to your salesman first and explain the situation. I doubt the dealership will have any problems selling the car to someone else.
 

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Just work with the dealership

Let them know your job situation and I'm sure you can negotiate a settlement. Let them know that when you get another job, you will come back and buy a car. This will be incentive enough for them to give your deposit back. If they don't want to do it, let them know you won't be back to buy a car from them and that it's not like you don't have the money to afford the payments but you want to assure your financial position before buying.

countx said:
Hi Andy,

The deposit is in Canadian funds... you're right, I should have read the terms and conditions before going in. I just read in the back of the contract that if I do not accept delivery of the car, I would have to pay the dealer $1000 in liquidated damages, plus taxes. There is no mention of the deposit.

I always laugh when my clients sign a contract without reading it first.... who gets the last laugh now?!?!?!

Regards,
countx
 

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Discussion Starter · #6 ·
Gentlemen, thank you for your advice. Legally, I do not have a leg to stand on, but I will try your suggestions.

Kevin, you're right, I can afford the car now. I just want to secure myself financially before I jump into a big purchase such as a new car.
 
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