Laws concerning good faith down payments vary from state to state. If financing fell through you more than likely can get the deposit back. It will depend on what the contract that you signed says and the state you live in. I would advise you to contact your state attorney general.
The car dealer is not required to collect a down payment. The finance company is the one who usually asks for it. If they desire a down payment, they will contact you to get it.
Yes i will release the car back to the dealer even if i did made a first payment. Sandile
i cannot afford my truck payment can i sell it 2 dealer and get cheaper car
Yes
sue him
Technically, a sale is not complete until money is exchanged. The law in some states is different though, and if you signed a contract PROMISING to pay, the contract defines the sale.
How long a dealer will hold a car with a down payment depends on the dealer. It is a good idea to get a time frame in writing. Some dealers will sell a car within a couple of days if you do not complete the transaction.
just the opposite. If you finance the car through the dealer, he will realize a portion of your interest payment so the possibility of a discount is there.
Not unless there is some very special language in your purchase contract.
It means that the dealer might accept your car as a part of payment but of course the dealer and you have to agree on a price for your car.
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A dealer can do whatever they want, they are not legally obliagted to sell you any car.