cash deposit of some sort to hold the car, why is this so?
2006-06-17 18:31:32 · 5 answers · asked by Anonymous in Cars & Transportation ➔ Buying & Selling
The car seller wants to sell the car. If somone comes to buy it he wants to sell it to them. He could lose a sale if he is holding it for someone, and that someone may not buy it either.
The seller needs something to show that you are REALLY interested before he is willing to promise you that he will turn away other buyers who might come.
A cash deposit shows you are really interested and makes the seller think it is worth holding the car for you.
2006-06-17 18:37:38 · answer #1 · answered by enginerd 6 · 0⤊ 0⤋
It is mainly to assure that another buyer cannot buy the car out from under you while you are getting your financing. It is to protect you....cars are a business. Without the deposit, another buyer could come along and make an offer better than yours (example, $1000 more than you made) and you lost the car because the dealer wants the money.
Just MAKE SURE if you put down a deposit, get a receipt....if the dealer refuses to return the money (some are jerks) you have a legal document that will hold up in any court stating the transaction was made...and your money would be returned.
2006-06-17 20:19:59 · answer #2 · answered by forensicschick1615 2 · 0⤊ 0⤋
Deposits dont always hold the car, they sometimes only hold the price. A deposit is a commitment that you are truly interested in the purchase of the vehicle. Any more advice I'm 30 yrs in the automotive business, I'm the manager at Plantation Ford in Plantation Florida, Regards Johnnie G Work # 954-797-3792 direct.
2006-06-18 06:44:51 · answer #3 · answered by johnnie g 1 · 0⤊ 0⤋
Cash talks
2006-06-17 18:37:37 · answer #4 · answered by Robert F 7 · 0⤊ 0⤋
That is what the salesman gets on a downpymt on his commission
2006-06-17 18:46:20 · answer #5 · answered by Anonymous · 0⤊ 0⤋