How Do Deposits Work

[kvic]

If I decide to put a deposit on a bike at one dealer, and while waiting another offers a lower price, is it possible to get your deposit back from the other? Looking at CRF250L, but prices seem to be jumping all over the place.

Thanks for any help.

[BigBikeBKK]

Depends on the dealer.

[VocalNeal]

Some lawyer can step in here but a deposit is forfeit. I think the only way to legally ensure this is to make a part payment Ie a down payment. With the balance due if the deal goes through. That way if the deal falls through no fault of yours there is no payment due and you can get your part payment back. In theory!

A percentage of the total purchase price of an item that is proffered when the item is bought on credit.

In an installment sales agreement, a buyer is required to pay part of the total price, usually in cash, and later pays the balance through a number of regularly scheduled payments.

A down payment is sometimes known as earnest money, or a sum of money that a buyer pays upon entering a contract to indicate a

Good Faith intention as well as an ability to pay the balance.

But what you are attempting to do is hedge your bets. You are not entering into your transaction in Good Faith.

JP Morgan Chase lost 2b dollars trying to do what you want to do!

Edited May 23, 2012 by VocalNeal

[SumetCycle]

Be sure to bring the deposit receipt with you and they should give you your money back. Best of luck.

Brian

[bbradsby]

in Thailand????

[SumetCycle]

Not sure about other places, but we always refund deposits if customers change their mind.

[saengsureeya]

Not sure about other places, but we always refund deposits if customers change their mind.

So, if a customer pays a deposit on an item which has to be ordered and the customer changes his mind he will get his deposit back?

That's basically what the deposit is for: A kind of guarantee that the customer will be back to obtain the ordered item.

[chiang mai]

After many months of deliberation I finally decided to order a new vehicle and I put down a deposit, you can guaranteee that the vehicle will be here within four weeks I asked, certainly they said, many times over. No sooner was I five minutes out of the dealership when my phone rang, sorry, delievery now two months away! So I went back to the dealership to cancel the deal and to get my deposit back, sorry they said, depsoit come from Honda Bangkok by cheque! One month later I still didn't have my deposit and everyone at the dealership was ignoring me, all those friendly faces and sweet young things now seemed to disappear when ever I walked in.

Eventually I said enough is enough and when they insisted on the cheque from Bangkok line, I told them that I would tell my story about this nasty little deal to every farang who walked into their showroom. No sooner had I said that when an American couple walked in so I walked over and we started to chat, in reality our conversation was nothing more than idle banter although the sales staff weren't to know that. Tene minutes later I walked out with my deposit but not before the sales manageress had a whip round to collect THB 20k from all the staff, my deposit came back to me in hundreds, fifties and twenties. The deposit in most cases, in case you haven't worked it out, goes to the sales staff as a part of their commission.

[wantan]

Not sure about other places, but we always refund deposits if customers change their mind.

So, if a customer pays a deposit on an item which has to be ordered and the customer changes his mind he will get his deposit back?

That's basically what the deposit is for: A kind of guarantee that the customer will be back to obtain the ordered item.

Think so too. But maybe depends on the product. A stock CRF250L shouldn't be difficult to sell to someone else. But it sure depends on the goodwill of the dealer. Some dealers will try to get some kind of compensation i guess. A good reason to go to a dealer with good reputation.

[wana]

After many months of deliberation I finally decided to order a new vehicle and I put down a deposit, you can guaranteee that the vehicle will be here within four weeks I asked, certainly they said, many times over. No sooner was I five minutes out of the dealership when my phone rang, sorry, delievery now two months away! So I went back to the dealership to cancel the deal and to get my deposit back, sorry they said, depsoit come from Honda Bangkok by cheque! One month later I still didn't have my deposit and everyone at the dealership was ignoring me, all those friendly faces and sweet young things now seemed to disappear when ever I walked in.

Eventually I said enough is enough and when they insisted on the cheque from Bangkok line, I told them that I would tell my story about this nasty little deal to every farang who walked into their showroom. No sooner had I said that when an American couple walked in so I walked over and we started to chat, in reality our conversation was nothing more than idle banter although the sales staff weren't to know that. Tene minutes later I walked out with my deposit but not before the sales manageress had a whip round to collect THB 20k from all the staff, my deposit came back to me in hundreds, fifties and twenties. The deposit in most cases, in case you haven't worked it out, goes to the sales staff as a part of their commission.

i find that hard to believe unless youre paying some bumped up farang price

Many dealers ive been in ,you can walk around and if the staff are watching tv or playing facebook on their phones ,they dont give a <deleted>

if you buy anything or not

hardly the actions of staf who stand to gain 20k if you buy a bike

my friend owns the honda dealer on klong tan ,AFAIK his staff get a set wage,

also with Honda ,the bikes more or less sell themselves

not many people buy a cbr or crf 250 on impulse ,i would say most people going to get one already know what they want before they even get to the shop

[kvic]

Thanks for all the responses.

Vocal Neal, I appreciate you bringing up not entering into the agreement in good faith, because that is what I wanted to avoid.

My question was based on being told it would be a month or more wait, and with all the speculation on pricing, didn't want to get caught in a bad situation. Hence my posting here to get knowledgable info. Also my understanding on the deposit was that it was for a bike they were expecting, not one they had to order, but I could have misunderstood since that happens alot with my sucky language skills.

Now if I would have waited a few hours I would not have had to post at all. Was informed they got a bike in so no longer a wait involved. Have already gone and put a deposit and will finalize this weekend. Price is decent by current pricing here in CM, but if it drops to 120k as some have speculated, yeah, that will suck. Did I expect that it would drop that much in a month or 2 especially here in CM? Probably not, but better safe than sorry. Wana is correct, I knew what I wanted when I went, but wanted to go about it in the right way.

Thanks again.

[chiang mai]

After many months of deliberation I finally decided to order a new vehicle and I put down a deposit, you can guaranteee that the vehicle will be here within four weeks I asked, certainly they said, many times over. No sooner was I five minutes out of the dealership when my phone rang, sorry, delievery now two months away! So I went back to the dealership to cancel the deal and to get my deposit back, sorry they said, depsoit come from Honda Bangkok by cheque! One month later I still didn't have my deposit and everyone at the dealership was ignoring me, all those friendly faces and sweet young things now seemed to disappear when ever I walked in.

Eventually I said enough is enough and when they insisted on the cheque from Bangkok line, I told them that I would tell my story about this nasty little deal to every farang who walked into their showroom. No sooner had I said that when an American couple walked in so I walked over and we started to chat, in reality our conversation was nothing more than idle banter although the sales staff weren't to know that. Tene minutes later I walked out with my deposit but not before the sales manageress had a whip round to collect THB 20k from all the staff, my deposit came back to me in hundreds, fifties and twenties. The deposit in most cases, in case you haven't worked it out, goes to the sales staff as a part of their commission.

i find that hard to believe unless youre paying some bumped up farang price

Many dealers ive been in ,you can walk around and if the staff are watching tv or playing facebook on their phones ,they dont give a <deleted>

if you buy anything or not

hardly the actions of staf who stand to gain 20k if you buy a bike

my friend owns the honda dealer on klong tan ,AFAIK his staff get a set wage,

also with Honda ,the bikes more or less sell themselves

not many people buy a cbr or crf 250 on impulse ,i would say most people going to get one already know what they want before they even get to the shop

This was a Honda car dealer in Chiang Mai seven years ago, I was buying a CRV at 1.2 mill., not a bike - I posted the same story a few years back, up to you to believe or not.

[wana]

After many months of deliberation I finally decided to order a new vehicle and I put down a deposit, you can guaranteee that the vehicle will be here within four weeks I asked, certainly they said, many times over. No sooner was I five minutes out of the dealership when my phone rang, sorry, delievery now two months away! So I went back to the dealership to cancel the deal and to get my deposit back, sorry they said, depsoit come from Honda Bangkok by cheque! One month later I still didn't have my deposit and everyone at the dealership was ignoring me, all those friendly faces and sweet young things now seemed to disappear when ever I walked in.

Eventually I said enough is enough and when they insisted on the cheque from Bangkok line, I told them that I would tell my story about this nasty little deal to every farang who walked into their showroom. No sooner had I said that when an American couple walked in so I walked over and we started to chat, in reality our conversation was nothing more than idle banter although the sales staff weren't to know that. Tene minutes later I walked out with my deposit but not before the sales manageress had a whip round to collect THB 20k from all the staff, my deposit came back to me in hundreds, fifties and twenties. The deposit in most cases, in case you haven't worked it out, goes to the sales staff as a part of their commission.

i find that hard to believe unless youre paying some bumped up farang price

Many dealers ive been in ,you can walk around and if the staff are watching tv or playing facebook on their phones ,they dont give a <deleted>

if you buy anything or not

hardly the actions of staf who stand to gain 20k if you buy a bike

my friend owns the honda dealer on klong tan ,AFAIK his staff get a set wage,

also with Honda ,the bikes more or less sell themselves

not many people buy a cbr or crf 250 on impulse ,i would say most people going to get one already know what they want before they even get to the shop

This was a Honda car dealer in Chiang Mai seven years ago, I was buying a CRV at 1.2 mill., not a bike - I posted the same story a few years back, up to you to believe or not.

i know the feeling ,you can be ready to spend a big chunk of money sometimes and the staff can barely be bothered to get off their chairs

and ask what colour you would like etc

actually ,i prefer it that way to the opposite ,where the staff are in your face ,trying to help you every few seconds when you are shopping

[taninthai]

So how much did you pay nO need to be shy can help others to make decisions with this info

[kvic]

So how much did you pay nO need to be shy can help others to make decisions with this info

OK. List price was 139,900, got them to come down to 138,000 against 60k for trade on PCX. Figure the 60k was due to inflated price but still 10k better than others offered.

Don't know if I could have gotten 60k if I tried to sell it myself now that the PCX 150's are everywhere, but think 55k would have been realistic. Doesn't help anyone looking for lower price, but to me converts to 133,000 (which was the lowest price I was quoted) and 55k for trade. OK, may not be real world pricing, but makes me feel better.

[taninthai]

Seems fair enough congrats on your new bike they are fun fun fun

[JeffreyMcCollum]

I have seen the Officail Honda sales guide and it says 139,000

I think you did OK

I am just wondering what Kawasaki will now do ?

[mrclough]

I have seen the Officail Honda sales guide and it says 139,000

I think you did OK

I am just wondering what Kawasaki will now do ?

Not sure about the rest of Thailand but from what I've seen here in Chiang Mai, Kawasaki seem to go through the little KSR's like a hot knife through butter. Everytime I've been there for any reason there seems to be a delivery of the things taking place.

Edited May 24, 2012 by mrclough

[wana]

I have seen the Officail Honda sales guide and it says 139,000

I think you did OK

I am just wondering what Kawasaki will now do ?

Not sure about the rest of Thailand but from what I've seen here in Chiang Mai, Kawasaki seem to go through the little KSR's like a hot knife through butter. Everytime I've been there for any reason there seems to be a delivery of the things taking place.

you cant compare a ksr 110 with road tyres with a crf 250

they are worlds apart

klx 250 might drop in price but probably not ,it may even be re-designed and brought into the future with a 2013 update as they try to justify the price of the thing