Car Purchase Agreement Deposit

The first problem is the word itself. Many people think of a security deposit as a repayable loan or a temporary holding payment, but this is usually not true when selling a car. If you give a deposit to a dealer, this is considered a down payment or an initial payment for a car. As a general rule, it is not refundable unless there are special circumstances. After making your purchase, there are additional factors that need to be taken into account, including the payment of your deposit. Once you have accepted and signed for your new car, the seller invites you to sign a legally binding purchase document and deposit your deposit. According to the details indicated in the contract, if you change your mind about your purchase, it depends on whether or not you receive your account. Hi Stuart, I paid £1000 deposit for a Mini Countryman, I never went to the Mini dealer (Park Lane), everything was done by phone/email…

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