Car Deposit Refundable?

[duckJAI]

@Toronto240sx

I was an automotive sales executive for 6 years and a sales manager for 4 years. When you sign a Bill of sale and you put money down you have signed a legal binding contract binding you to the vehicle. There is no way out of the deal at that point unless you don’t get approved for the financing etc.

However in your case you have an advertisement from the same dealership selling the car $1000.00 less then what they quoted you when you walked in. If this advertisement came out before the day you walked in then you have a case, but if it came out after then you don’t but you said you saw it shortly after therefore you are safe.

They missrepresented and that is good enough reason for you to back out of the deal, you caught them trying to rip you off. However they can still hold you to this deal regardless of the missrepresentation on their behalf only if they choose to reduce the price of the vehicle to the price on the advertisement.

Call Warren Barnard or Jim Hamilton at the UCDA Legal Department if you have any questions. (416) 231-2600 or 1 (800) 268-2598

OMVIC will help you out you just got to go through their whole process OMVIC 416-226-4500

There is always a way out of a contract and can be broken anytime.

Also, the contract I signed also specifically stated right on the back “Failure to Pay”, expenses would be taken from my deposit and that’s it.

No one can force someone to buy a car, there is no Legal way to do so. It just wouldn’t make sense. They can’t force me to take out 20Gs from my account and hand it to them. That’s what a deposit is for. To keep it if I back out or to reduce the amount they give back if I do infact back out.

Just like any deposit in this world, it’s to put down and keep if a buyer backs out of a deal.