Return of down payment

[Jai Way]

Jurisdiction

Florida

I was purchasing a vehicle (2005 Lexus Es300) on Saturday evening (2/25/17) between 7and 8 pm. I change my mind and returned the vehicle on Monday (2/27/17) at 7 pm because the lot was closed on Sunday. At this time the sales person told me they were not returning my deposit of $1,000.00. This information was not told nor discussed to .

 

[mightymoose]

It is surprising you were allowed to return the vehicle at all.
What does your contract say about returning the vehicle and return of the deposit?

 

[adjusterjack]

This information was not told nor discussed to .

Didn't have to be.

The only thing you had to know was what was written in your contract when you signed the contract.

My guess is that you bought the car, made the first payment, with the rest being due by financing or in cash.

Now that you have reneged on the deal the dealer will likely sell the car at auction for less than you owe and come after you for the difference.

I suggest you go get the car back and make good on your contract if that's still possible.

 

[txls]

You can ask them for an accounting of the $1000.00. They should only keep actual costs and damages, if they reversed your sale and put the car back in stock. However if they treated is a repossession then adjusterjack is correct. You need to know how they handled it.

 

[adjusterjack]

They should only keep actual costs and damages, if they reversed your sale and put the car back in stock.

Unless there is a liquidated damages clause in the contract. Then they might not have to account for it.

 

[txls]

That would be unusual, but certainly possible.