I got a really good quote from a fleet manager for an 06 TSX 6MT with nav for $28,576 OTD. I have him placed an order for it a month ago. I also gave him $1000 for a deposit off my credit card. Anyways, I got another quote from another internet manager today and he's willing to give me the same car for $28,100. My question is can I get my deposit money back from the other fleet manager if he's unable to match the $28,100? Is there any special reason why they can keep my deposit? It might be a battle getting my money back I bet? I already paid my credit card statement this month that has the $1000 deposit.

 

At my acura dealer when i put a deposit down for my car they told me that my deposit WAS refundable.

 

please tell me that you got it in writing that the deposit was refundable

 

I didn't sign anything and there was nothing mentioned about the deposit was either refundable or non refundable. It was a good faith that I showed to him that I was committing to buying the car. However, if I didn't receive the good then I should be able to get my refund back, right? Can I make this case to my credit card company if the dealership chose not to refund my money? I'm just presenting a worst case scenerio here. I'm pretty confident that the guy will try to beat that lower quote I just got

 

its $476 off a $28k car, just tell them to match it at the dealer you have the deposit with.

 

If they can't match, I would think they would refund the deposit. IMO

 

^ Did you read what you wrote? Trying to back out is exactly the opposite of "good faith." I don't blame you for trying to get a better deal, and I'd ask the guy you committed to if he could match it, but don't act like a victim if he holds you to the agreed price and keeps your deposit money. If he's a good business man, he'll work with you to make you happy, but still, what's the point of a "good faith" gesture if you can bail out at any time for any reason?

 

On looking for my '06 TSX I was also looking at a IS250 and had many conversations with internet sales people at various Acura and Lexus dealerships and they all said that I could place a $500-$1000 deposit on a car so that when it arrived I wouldn't have to fight for it and it would be waiting for me and I could make the call. If at that point I went to see it and was not completely satisfied I could walk away and they would give me back the full deposit. Its there to hold the car in your name so no one else has the chance to get to it before you do. I think you have the right to get your deposit back. They will sell the car to someone if its not you.

 

Each dealership's policy is different. Mine stated unequivocally that my deposit was NON-refundable and it was also pre-printed right on the form when I placed the order for the car. Now this may just be their policy if pre-ordering, but it was definitely NON-refundable, and I encountered that at 3 different East Coast dealerships.

 

Well if you didn't sign anything, it appears neither party is "legally" bound to the "agreement". Since you have not taken delivery yet, there has been no transaction and your credit card company should be able to get your deposit back if the situation comes to that.

Hell, if the shit hits the fan, call Acura HQ and bitch about the dealer holding your money hostage.

Side question: Why would you put down a deposit without agreeing on a final price?

 

Signatures have nothing to legal boundries. The law varies from state to state. There is no law in New York that states that you're refund is obligatory. If you do not buy the car you broke the agreement and the money does not have to be returned.

People, you need to get things in writing. You cannot assume your deposit is automaticlly 100% refundable, there is no such to support this. If I were you I would call them immediatly and have them write a contract for that deposit, making it refundable upon cancellation of agreement, before you ask them to match the other price

Also, you put down a deposit to hold the car and prevent them from selling it to someone else. It has no relation to the purchase price.

 

Hmmm...the more I think about it the more a deposit does not make sense unless everything (options, price .. etc) has been finalized.

I suppose this is another reason to be wary of a car dealer.

 

A few years ago I put a deposit down on an IS300, I did sign some papers and such, but I was still able to get my deposit back. Then I learned from somewhere that you have the right to get your deposit back (not sure how true this is).

but in any case, I think any reputable dealership will give you back your deposit. I doubt they're going to risk ruining their reputation by arguing with you about a deposit. Dealers live on their reputation, it's just too much risk for them to lose customers by having a bad reputation. Plus, out of all the instances I've seen in internet boards, people were able to get deposits back, including myself.

I think they'll probably end up matching the price from your other dealer if you show them the quote, if you tell them you want your deposit back.

 

Like I said, the law varies per state, this is a quote from the Better Business Bureau for New York:

"Many consumers are under the false impression that there is a law which entitles them to a refund made on a car deposit if they choose not to buy the car. There is no such law. Car deposits are non-refundable, unless the contract or sales receipt specifically contains a refund policy. Before signing on the dotted line or making a deposit, inquire what the dealership's policy is. If the contract does not contain a refund policy on car deposits, you may request one be written in the contract, or be written on an addendum attached to the contract."

But your point is valid, most dealers are not going to seal their fate for $1000. They will probably give it back to you...

 

Say you walk into a dealership and see a car you love, but you can't buy it that day. You don't want someone else to buy it while you mull it over. So you give a deposit in exchange for a contract with the dealer that they will not sell the car for a certain amount of time...

Make sense now?

 

I see.