I suppose that depends on whether or not you're folding it in the correct sequence.
Seat post should go down last. If you try and put it down before the front end is tucked in, then it won't go down far enough.
Also, I forgot to add, I hacksawed about a 1/2 inch off the bottom of the rubber bung on mine.
Long story but as I say the telescopic one I hired fitted into the back of our mini convertible when folded, but the extended seatpost was really close to not going in. So every time I had to to try and squeeze it into the boot, the seat rubbed on the lip of the opening. Even that extra half-inch makes all the difference. (oo-er missus).