Are non-refundable deposits a standard thing now?

[Cyclonegrey]

Hey all,
I’m getting set to order a 2021 and I’m being asked for a $2k non-refundable deposit to place the order. Is this normal now with this market. The dealer doesn’t have a boat for me to even look at so it’s hard to justify the “non-refundable” aspect of the deposit. It’s not like they wouldn’t be able to sell it if for some reason I wasn’t happy with the boat.
What’s the general consensus on a new boat order?

 

[BRosen]

I can't believe it's non-refundable. No way I'd do that. I've got $500 refundable deposit in on AR210. Several dealers I talked to were refundable.

 

[Adrian @ JB Solutions]

No way in the hell.

 

[mkbcaptain]

Okay. Clear this up. What brand boat? Is it a custom order or just a waitlist? Information is important

If you are “ORDERING” a custom boat, yes a non-refundable deposit is a no brainer.

If you are just getting your name in the line for a random delivered boat, refundable of-course.

good luck

 

[HangOutdoors]

If the dealer is asking for a non-refundable deposit, find a new dealer. And let others know whom to avoid going to, perhaps they will get the idea.

 

[Cyclonegrey]

To clarify this is for a 2021 Yamaha AR210. nothing special about it except for the current market. It is my understanding that this is to place the order and that when the boat shows up the deal will be finalized with financing etc.

I have no problem with a deposit. It’s the fact that it’s non-refundable and I can’t even see an example of the boat before placing the order.

 

[mkbcaptain]

Yea that doesn’t sound right. I would wave off for sure. What dealer is this?

 

[HangOutdoors]

@Cyclonegrey Can you find a different dealer that is within your zone? It's a red flag, imho, that a dealer wants a non-refundable deposit. Would make me feel uneasy about the dealer in general.

 

[Cobra Jet Steering LLC]

Interesting market out there right now but my years on the planet tell me the market is going to crash big time sooner than later.

 

[Tim Mitchell]

What good is a deposit if it’s refundable? I can understand if it want a pending financing or “please hold and give me a day to think about it deposit and that being refundable.

You order a boat - the dealer wants to know you are serious and are going to take it.

 

[Farny]

I put a 10% deposit on a 2020 195s earlier this year. It was fully refundable. They would return it if for any reason I changed my mind. TX Marine Conroe store

 

[Shuck Water]

If the dealer wants a non refundable deposit then make some stipulations of your own. Guaranteed delivery date or there will be liquidated damages for each day it’s late. Approved financing and terms locked in so that is a sign and drive type of deal with no follow up credit check. They want to lock you in, then you lock them in.

 

[Tim Mitchell]

If the dealer wants a non refundable deposit then make some stipulations of your own. Guaranteed delivery date or there will be liquidated damages for each day it’s late. Approved financing and terms locked in so that is a sign and drive type of deal with no follow up credit check. They want to lock you in, then you lock them in.

I totally agree. It’s got to be a deal and hopefully a good deal. It should go both ways!

 

[HangOutdoors]

@Tim Mitchell Too many things can happen right now. Plus the dealer will have no problem in selling the boat to someone else the same day. Non-Refundable deposits are bullshit, especially with Yamaha boats in this market. What if the boat doesn't show up for months and their situation changes. What if they want a bigger boat or smaller boat as they sit here and mull over it during the months it takes for the boat to come in. What if there are other issues. What if the dealer changes numbers, what if financing won't close because of the market..... Blah, Blah, Blah. You would almost need a multipage disclaimer about all the "What-If's for the non-refundable deposit.

Easier to just have it be refundable and move on.

If a dealer wants my business, than a refundable deposit is the only way. Plus the majority of the dealers do it this way.

 

[HangOutdoors]

@Shuck Water I would love to see how that dealer would squirm at a guaranteed delivery date.....

 

[Cyclonegrey]

Thanks for the input. It didn’t feel right. I didn’t want to name names but I have reached out to 3 dealers. I guess you can call them the trifecta for my area.
Tom’s River Marina NJ
Patsy’s Marina NY
Highway Marina PA

Tom’s River dealer has come in the lowest but has given me the worst feeling. Still waiting for follow ups on deposits from the other two. I’ll hopefully hear when they open on Tuesday.

To be honest I wouldn’t mind a non refundable deposit so much if I could just see and get a test in a boat.
To add some additional color there have been some other comments by this dealer that have been questionable but with this market I’m not sure anymore.

 

[Dixie Highway]

If they are asking for a non refundable deposit I’d definitely put stipulations on it. If not walk away. Yamaha boats are not custom built. They have an allotment for so many of each model, and this is a 2021 boat at the beginning of the model year. I’d tell them to pound sand and find a dealer that isn’t shady.

 

[HangOutdoors]

IF you had to give a non-refundable deposit on a boat that they have sitting there on the lot and that you have tested... OK... I could possibly live with that. Basically you are saying here, hold that exact boat while we process the paperwork.

On something you don't know when it is coming, how it handles, is it a good fit for you and your family and life could change for you and the dealer could have issues. With sight unseen and you really don't know if the boats come in when you are in line to receive one. I have seen too many posts here that say "I am first in line or second in line" (Classic Dealer BS) and they still don't have boats after the dealer has started to receive them. Perhaps you want to change dealers because after a certain period of time you can get your boat somewhere else.

Too many "IF"s for me. This is a big purchase Dealers need to work for you. Find a solid dealer.

 

[Tim Mitchell]

Yeah, especially if it’s a Yamaha dealer - I think the boats just show up.
They get so many slots and aren’t exactly sure when they are going to come - this is what my dealer told me.
I think non-refundable deposits are normal. The dealer could sell that slot to someone else and they just want to know you’re serious. They want some skin in the game and to make sure your going to take it. The name of their game is to sell the boats before the land at the dealership. A deposit really is useless if it’s refundable. I think it’s common to make deposits refundable to “hold” a boat to make sure you can get financed, get the ok from your better half, or to even think about it for a day or two. . If you’re a repeat customer and have bought boats before - I could see the dealer waiving the deposit for a order or a hold because there is a relationship

 

[ripler]

No way I'd accept this. A lot of Yamaha dealers are acting like they have some type of limited edition supercar and you will be never ever be able to find one. They are playing a game and tying to get as much upfront deals as they can, this is BS. There won't be a shortage in 2021, I guarantee that as soon as the factory was able to return to production they started making 2021s, so that means they have been making 2021s for months and way ahead of normal.