CAR-BUYING QUESTIONS
Do I need a deposit to hold a car?
Many dealers ask for a deposit to hold a specific vehicle or to place a factory order. Before paying, get in writing how much it is, what it holds, how long, and whether it is refundable and under what conditions. Pay with a traceable method like a credit card, and keep the receipt. In OffLot's preview, reservations and real purchases are not live yet, so no deposit is taken on OffLot today.
General information, not legal or financial advice; rules vary by state and lender.Related questions
- Should I make a deposit on a car at the dealership?
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- What paperwork do I need to trade in my car?
- Do I need an appointment to visit a car dealership?
- What paperwork do I need when buying a used car from a private seller?
- Do I need to remove my license plates when I sell or trade in my car?