Leasing from a remote dealer - is it appropriate to put down some deposit to hold the car?

Ask the Hackrs Buy/Finance
1

I’m looking to enter into a lease with a dealer from out of state for the first time.

In the past couple of my leases, I’ve leased from a dealer in the same state within driving distance. So I’ve settled on the price via email and then gone on the same day to the dealer to finalize the paperwork.

In this case, I won’t be able to get to the remote dealer for a few days, but I’d like to lock in the price as soon as possible.

Is it appropriate or ever done to put down some sort of deposit on a quoted lease price in order to hold the car until I’m able to make it to the dealer to sign the final paperwork?

Or do I just ask if I can sign the final paperwork remotely, and then guarantee to pick up the car the next week (they hold it aside)?

I presume it’s generally the latter - but just wondered if others had done differently.

2

While I’m not certain if you’re in CA or the dealer is, deposits are refundable in CA.

With that being said I wouldn’t have any expectation of the dealer holding the car for you without a deposit.

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3

I’m in CA, dealer is not.

But it sounds like you would suggest that I offer to put down a deposit to keep the car aside if the dealer is in a state where deposits are refundable. If they’re not in such a state, maybe a bit more of a risk.

4

If it’s a good deal I’d def do a deposit with a cc so you know they won’t sell to someone else.

They always could still screw you and sell to someone else for more , but that’s much less likely if they collect a deposit

Just make sure you have numbers upfront in a formal sheet. And be clear on the refund policy.

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5

On my non-brokered, out of state leases I have offered to pay a deposit to secure the car once the deal was agreed-to in writing. The last couple times they took a cc number and didn’t even charge it. YMMV.

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6

It really depends on how much you want that exact car (price, color, trim, features, etc.). If it’s the one, you can put a deposit down with your credit card to hold it. Just keep in mind, like others mentioned, a dealer might still screw you if someone else comes along willing to pay more.

7

I really wouldn’t worry about whether the deposit is technically refundable in the state or not.

If you have committed on a car and put a deposit down and they sell it out from under you, then any decent dealer is going to have no problem giving you the deposit back, regardless of whether it’s required by the state or not.

Just call up whoever you’re dealing with, tell them you’re ready to move forward but can’t take delivery till X day, and ask what they need from you to lock things down in the meantime.

If they happen to say “nothing, we’ll hold the car for you” or anything like that then I’d just thank them for being easy to work with but reiterate that you’re coming from out of state and would prefer to have something more concrete before you make travel plans.

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8

Amex Platinum for the win on this. If you get stiffed (very unlikely), let Amex go after the dealer.

On the rare occasions I’ve ever had an issue with a payment or charge on my AMEX platinum, they seemingly always have come through and made it right one way or another.

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9

This approach sounds good in theory, but I’d still have a backup plan in case the dealership tries to play games. You don’t want to end up at their mercy to get your deposit back.

10

Thanks for all the sound advice, LeaseHackrs. This forum really comes through when you need it.

If I sound a little paranoid about dealers, it may be because I was also the author of this “Don’t be a dummy like me” thread from 5+ years ago.

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