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      10-20-2011, 01:54 PM   #49

Drives: 335ix
Join Date: Aug 2009
Location: MD

iTrader: (1)

Originally Posted by Kolyan2k View Post
ah ? my buddy has a dealership and deposits are not refundable and he has never refunded them obviously......what the hell is the point of the deposit.....and dealerships previously held cars for me with deposit. just last week the guy ended up purchasing the car he didnt want because didnt like the idea of loosing his deposit.
Totally and completely incorrect. The deposit is refundable.

Here is an exerpt from the MA code:

(9) It is an unfair or deceptive act or practice for a dealer to fail to refund the full amount of a purchaser's deposit promptly when:

(a) The purchaser cancels the motor vehicle purchase contract before it has been accepted by an authorized dealer representative;

(b) The dealer and the purchaser have agreed to make the contract subject to the purchaser's ability to obtain financing of his or her choice and the purchaser cannot obtain such financing after exerting reasonable efforts to do so;

(c) The dealer does not accept the contract;

(d) The dealer fails to deliver a motor vehicle to the purchaser which conforms to the terms of the contract; or

(e) The purchaser cancels the contract because the dealer has failed to deliver the vehicle to the purchaser within the time period specified in the contract, or, if no time period is specified, within eight weeks after the date of the contract, unless the delay is caused by acts beyond the control of the dealer and manufacturer."

And for California:

"Section 11736. It is unlawful for any dealer licensed under this article to do any of the following when brokering a retail sale:

(c) Fail to refund any purchase money, including purchase deposits, upon demand by a consumer at any time prior to the consumer's signing of a vehicle purchase agreement with a selling dealer and taking delivery of the vehicle described in the brokering agreement."

Last edited by ceb; 10-20-2011 at 02:10 PM. Reason: Added California cite