CAR-BUYING QUESTIONS
Is a car deposit refundable?
It depends on what you agreed to in writing. Some deposits are fully refundable until you sign a contract, others are non-refundable or partly refundable, and rules differ by state. Always ask for a written receipt stating the amount, the vehicle, and the refund terms before paying. If a dealer won't return a deposit they said was refundable, contact your state attorney general's consumer protection office and, if you paid by card, your card issuer.
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?
- Do I need a deposit to hold a car?
- Do I get a refund for GAP or a service contract if I pay off my loan early or sell the car?
- Can I withdraw an offer on a car?
- Will a dealer let me take a used car for an independent inspection?
- What is a security deposit on a lease?