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If you return a new car how can you get your down payment returned?

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2011-02-16 18:27:48
2011-02-16 18:27:48

It depends on where you bought the car. For example, California has no automatic "buyer's remorse" period in which you can simply return a car and cancel the purchase contract... once you buy it, it's yours (sellers are obligated to offer, for an additional fee, a rider on the contract that does allow you to do this, but if you don't take that option and pay the additional fee, too bad for you).

In other words... depending on the specific laws in your location, you may not be able to get your down payment returned. Contact the seller and see what they say. If they're reluctant, you might need to speak with a local attorney who can advise you as to whether you have any rights in this situation or not. But do it quickly... even in locations where this is allowed, it generally has to happen within 3 days or so of signing the contract.

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can u return a used car in BC n get ur down payment back

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"Trade in" is the term for using the equity in your current car for partial purchase (or down payment) of a different car. I think you mean a return of car. Some states have a cooling off period where a used car buyer may return a car and only pay for usage and fees. Where I am if you sign the paperwork you own it. The car can not be returned.

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This can be a tricky situation. Did you give the buyer a receipt for the down payment stating it would not be returned if they backed out of the deal? If not, then you may have to give it back. Did you hold the car for them, and in the process miss a sale due to this? Here is what I would do. If you ended up selling the car anyway, I would return their down payment.

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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.

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A check given to the dealership will be cashed. This is normal in business. Whether they can keep the money or have to return it is based on what your purchase agreement reads. Where I live if the purchase agreement has "Subject to financing" on it the down payment must be returned if the dealer can not get you financing and you can't get outside financing. If it does not have that in it they get to keep the money.

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If you refinance a car another down payment is usually not required. I refinanced a car to lower to payments and it added another year to the payoff date of the car. I wasn't required to give a down payment.

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Car insurance companies do not require full payment upon acceptance. They do however ask for a down payment. If you go through a 3rd party you maybe able to get car insurance without a down payment.

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Buying a new car can be very exciting and very expensive. The down payment for a car is dependent on the buyers credit, how they are planning on financing, and the lot in which the car is bought. A down payment for a car can range from $50 to $2-$3,000.

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A balloon payment refers to the last payement you make on a car that you got as a long term lease. At the end of the lease you can either make a balloon payment and buy the car, or you return the car.

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This is not your car. The down payment enables you to have the privilege of a contract. So, pay up.

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Depends on your agreement and the reason you want to return the car. Most states have a 3 day "change of Heart" limitation.

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When you put down a down payment the price is already set. You must get them to come down before you agree to purchase which is what your down payment represents.

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If you rent a car in MA you can not return it to NY. The car is insured in MA, so if you drive out of state they will track down the car and make you return it. If the car was rented from NY that is a whole different story. You can return it in NY if you rented from NY. I did not make this question up. I'm just giving you the answer. (I think this is a stupid question anyway.)

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I THINK SO. THE CONTRACT HASN'T BEEN COMPLETED UNTIL THE DOWN PAYMENT IS MADE. HE'LL PROBABLY VOID THE CONTRACT FOR FAILURE OF PAYMENT.

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The average cost of a monthly car payment is $250. Of course the actual amounts will differ depending on the value of the car, and the amount of the down payment.

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ya of curse you can use the upside down car loan for buying a new car...

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Once a car is purchased you can not return it to the dealer in Oregon. However if the car has serious mechanical defects it may be returned under the Lemon Law

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No there is not a period of time in Florida when you can return a new car. A car may be returned if it has a major mechanical defect under the Lemon law.

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A dealership can only repossess your car if you do not pay in accordance with the sale agreement. If you did not pay the agreed down payment, the car may be repossessed.


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