can you get the deposit back
2007-01-16 12:02:25 · 15 answers · asked by renegade839 1 in Cars & Transportation ➔ Buying & Selling
NOBODY can keep your deposit subject to financing if you cant get approved with the terms outlined ,,,If you signed a bill of sale paying cash then dealer has a right to keep your deposit, some conditions apply...
2007-01-16 14:34:18 · answer #1 · answered by Anonymous · 1⤊ 0⤋
Most dealers (new car franchised dealers) will only keep a deposit if they get approval on the financing that meets the terms that you both agreed upon, and you decide to back out of the deal.
If they can not meet the agreed upon terms, then they return the deposit. If they balk, talk to the owner or General Manager.
Independent Used Car dealers operate in a whole different world.
Best advice, try to not leave a deposit in possible. But, know that with no deposit, anyone can walk in after you leave and buy that vehicle.
Cash is the only thing that takes a car off the lot.
2007-01-16 15:33:26 · answer #2 · answered by Robert S 3 · 0⤊ 0⤋
Yes, you get the deposit back if you don't close the deal for any reason. When you make an offer on a car, keep the deposit to $50 or so. Don't forget that the deposit is there to show your intention, it's NOT the down payment.
2007-01-16 16:08:13 · answer #3 · answered by Bostonian In MO 7 · 0⤊ 0⤋
The laws where you live could be different, but in CA the dealer has to give the deposit back. Even if you just change you mind, the deposit has to be refunded. In most states vehicle dealers are regulated and the dealer can not go against the law, regardless of what they put on the receipt.
If you want to answer specific to you, check with the government department which regulates vehicle sellers in your state.
2007-01-16 12:16:59 · answer #4 · answered by Ghost 2 · 0⤊ 0⤋
It depends. Read the papers you signed when you gave them the deposit. If it says "non refundable" you can't. If it says it's dependent on getting financing, and you can get part of it back, you can get part of it back. If it doesn't say anything, you can ask for all of it back. The only one who can give you a definite answer is the person who took your deposit in the first place, ask him.
2007-01-16 12:08:09 · answer #5 · answered by oklatom 7 · 0⤊ 0⤋
Well I would most definitely say so! Even though you applied for the loan to get the vehicle, that paperwork is NOT a contract for you to BUY it. That paperwork is just an application to see if you qualify for a loan, so it is NOT a legal contract to buy the vehicle, don't let anyone fool you into thinking so. Your money should be returned to you immediately, or I would tell the dealer you are contacting your lawyer to get it for you. That should let that dealer know that you mean business. This is YOUR money, don't let it, or people who want it, rule your life. BE IN CHARGE!
2007-01-16 12:08:57 · answer #6 · answered by Sophie D S 2 · 0⤊ 0⤋
supposedly yes, however you sometimes need to fight for it, and may never get it.
If they demand a deposit, then give them only as much as you can afford to lose, I usually refuse to give a deposit until finance is arranged.
If they re not willing to hold the car for a small amount of time, your in the wrong yard.
2007-01-16 12:11:41 · answer #7 · answered by dinkydionline 5 · 0⤊ 0⤋
If u are searching to finance a motor vehicle below those situations,u ought to purchase a a used motor vehicle broking,cuz they are those who finance used autos,generally banks provide out that type of personal loan,in case you opt for to purchase out of a broking deliver,u might want to opt for a own form personal loan,yet without credit historic past that would want to properly be puzzling to attain,and different financing concepts require some credit historic past,after all ,banks opt for to appeal to close no matter if u can stay as a lot as duty!sturdy success! extra information. apr is base on credit worthiness,if u haven't got credit u can't anticipate a sturdy apr.!
2016-11-24 22:06:58 · answer #8 · answered by ? 4 · 0⤊ 0⤋
Yes
You only lose the deposit if you choose not to buy the car for no reason.
2007-01-16 12:05:37 · answer #9 · answered by Anonymous · 0⤊ 1⤋
Normally with most reputable used car dealers...yes, you'd get it back. But I would never trust advice on that...just come right out and ASK them before handing over the cash.
2007-01-16 12:05:51 · answer #10 · answered by cappymc 1 · 0⤊ 0⤋