Can Dealerships REFUSE to REFUND MY DEPOSIT?
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- Опубліковано 10 чер 2024
- Can a dealer refuse to refund my holding deposit on a vehicle? I get this question all the time. Generally speaking, a good honest dealership will refund a vehicle deposit. Even if the deposit was technically "non-refundable" most dealerships will work with you. A good dealership knows it isn't good practice to deny a refund request because what does that do? It burns a bridge, it ruins any chance of that potential customer returning to the dealership in the future. Sales managers will generally do the right thing and be flexible.
Often times the holding deposits range from $500 and $1000. I wouldn't advise paying any more than that, unless we're talking a Porsche GT3RS or something, haha. But if you're trying to secure a new 2024 Toyota Land Cruiser, 4Runner TRD Pro, Tundra, Sequoia or Ford Raptor... keep it to under $1000.
In this video I talk through the most common scenarios in which you'd be asked to place a deposit and how you go about getting your refund. Wait to the end though as I wanted to sneak in a very important note you should be aware of when you buy a vehicle. This is a trick deployed by way too many dealerships now days and you need to be aware of it.
Hope some of you find this video helpful. Remember, more often than not, you're able to get your deposit refunded!
Thank you for watching as always. Please consider Liking and Subscribing to see more vehicle buying tips and advice.
-Stay Untamed...
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I had $500 non-refundable deposit on a Tacoma trd pro in transit. It was the only one at the time in the entire state. While the car was still in transit, I found another one that was the color I really wanted. I asked for the deposit back and they refused. Basically, they wanted to keep the $500 even though the car wasn't even there yet. Keep in mind this was a car that they could easily sell 5 times before it even arrived. They even relisted the truck on their website. I knew it was the same one as there was only 1 coming in the entire state. I could understand if it was a car they couldn't sell, but these people found a buyer the day they relisted the car on their site (as they soon took it off because someone else wanted it) and still wanted to keep my deposit. I thought to myself, ok, I can play that game, too. I then told them I might or might not buy the car and will make up my mind when the car arrives. I told them you have my deposit so don't think about selling it to anyone else until I see the car and see if I like the color. They had to comply as that's what my $500 bought me. I then had them by the balls. They knew I wouldn't be buying the car, but they couldn't sell it to anyone else either while the car was being built and transported. As soon as I told them I was still considering the truck, they told me my check was in the mail. Don't be fooled by a greedy dealer. You can easily outsmart them. I did.
Made the trek from Tulsa to Ft Worth to look at a ‘21 TRD Pro, lunar rock, w/ 53k miles (more than I prefer), but, despite my very generous offer of $52,500 cash, they wouldn’t budge off of their delusional asking price of $54,600. I walked away. Next day on-line saw the same truck in Smyrna Beach, Fla., 3k less than miles, for $50K. These dealerships can eat ‘em as far as I’m concerned! I’m done!
Never give any deposit down to any of these shyster con dealerships if they don't have the vehicle wait till they get it in would never hand over money for something they don't have I'm not desperate foolish gullible person to play into this scam of theirs..
Neither am I. It's just a car, there's millions of others just like it.
Very interesting Untamed. I learned something new. Keep up the great content 👍🏼💯
I got my $500 deposit back from my bank when I put a deposit on a 2023 TRD Pro Tacoma when the dealership was taking too long for the truck to come in.
Did you still get your truck? I’m waiting on a tundra right now 😂
I had a similar situation. Put a deposit in, but have a hard time. They said it was non refundable but I told them show me the paperwork if I had signed on anything like that. Ultimately they gave it back. They are feeling a little desperate.
Bunch of crooks!
Our ‘23 Lexus NX 350h had a 8 month waiting list 2 yrs ago in WA. One came up at MSRP and put 1k down and drove 3hrs all in the same day!
I would never ever special order a car where I had to put down a deposit. Any car that I buy has to be at the dealership where I can test drive the car first before buying.
Yup. And I'm also not gonna let them swindle me into financing the purchase, add ons, extended warranties, or anything else. I pay for the car upfront with cash. If they don't like it, I walk. If they try to increase the price, I walk. Simple as that. I don't play games.
Last year I saw a 2021 tundra TRD off-road, dual climate control, 8 foot bed.
The owner passed away and his son was selling it.
It had hardly any miles. They only wanted about $43k.
I wish I would have bought it.
I'm new to this channel and I love it....good job 👍
Thanks brother, I really appreciate the kind feedback! =]
Thank you for this video I had a 1500 non refundable deposit because I was almost certain I was gonna buy a 2024 trd pro Tacoma but unfortunately had to buy something else in the meantime. Wasn’t even gonna bother trying to get that deposit back then saw this video contacted the dealership and they where understanding and gave it back
It would be interesting for you to do a video on the accuracy/effectiveness of Google reviews on automobiles and dealerships.
Had a $1000 deposit on a 2018 STI Type RA (only 500 made). When the car was inbound they came at me with a $10k markup and i asked for my deposit back. Told them i found one on the other side of the country for msrp. They hung up on me. Called Subaru in New Jersey and they told the dealership to refund me. Bought the one in NY and had it shipped to AZ. Even after shipping i paid $8500 less than my original car i had a deposit on. Funny thing is that dealer sat on that car for 6 months and probably sold it at msrp.
I had a dealership GM giving me the run around for 9 months. I finally got a refund once I told him I was going to file a claim with the state attorney general office. He responded to me same day and the finance manger had my card refunded in a few days.
Local Toyota dealer in STL took my $500 then tried to screw me when my Tundra had a delivery date. I was shocked they refunded my deposit.
I have a corvette in allocation hasn`t been accepted by GM yet, found one at another dealer used but has more for less. Put down a 5k deposit NF :(
I’m trying to get someone with car dealer experience if you can help me we can work this out if possible
A deposit is a contract to buy. By putting down a deposit you are telling a dealer not to sell that vehicle there by depriving them the opportunity to sell to someone who would like the vehicle now. If you have not made up your mind when you put your deposit down, you do not deserve a refund.
Did you get that tundra pro in New Jersey ????
No I bought it in SC. I have the pickup video on my main page.
Ok nj guy was selling the same one
@@beeslandscaping learned my lesson the hard way… I’ll never buy from Jersey or New York.
@@UntamedMotorswhat happened
@@beeslandscaping purchased 3 vehicles from there… each had major issues. My fault for buying two sight unseen. Two FJ cruisers and one 97 Land Cruiser. Terrible experiences all around.
Yeah always feed them sweet kindness like a poison candy apple. 😂
Don't put deposit with Honda I lost my 500 dollar deposit. I asked 3 times they said no 3 times. Won't buy there.
I hear that Honda dealerships been very bad places to buy a car as of late.
Dealerships train their salespeople to take advantage of their customers.
Sheet metal sells cars.
Don’t stay in a showroom that doesn’t have cubicles, because you want all of the other customers to hear you, if you have to continuously raise your voice.
Keep shopping around, because you an.
Hi, I’m Lou Filerman. I’m new here
Did I hear you correctly? Did you call a car dealer human?
It’s not true you get your money back always you didn’t get the car you don’t pay anything you do dispute charges from your credit card and that’s it
I've been refunded every time I've asked. Smart, honest dealers will always refund. Just remember to be kind when asking. =]
Sure dealers will give back 500 bucks. Those dealers have been fornicating customers $5,000.00 to $30,000.00 over msrp for years. 500 is chump change to them. The worm has turned & now the sleazy dealers are playing a different tune. The exact same dealers who were previously bending customers over $5,000.00 to $30,000.00 "dealer adjustments" Be careful, very careful. If a deal sounds to good to be true it is.
When I bought my current used vehicle at a dealership about an hour from here, they didn't require a deposit, because that car had been sitting on their lot for months. They even reduced the price to get it sold. I can't understand why nobody bought it, it's a fantastic car. Ultra reliable, low miles, runs great. I won't give any dealership a dime to hold onto any vehicle. I won't play that game. The more I hear about dealerships and the often shady way they operate, (not to mention the thousands of dollars in markups they add to the MSRP) the less I like them and don't want to do business with them. Next time I need a vehicle (which I hope won't be for a long time) I'll buy from a private seller.
If you signed an agreement it’s not refundable plain and simple. Making BBB claims and poor google reviews because of your error is so tacky
Not plain and simple. In most states it’s actually illegal to not refund a deposit because the dealership didn’t actually provide a service or tangible product in return. It’s often just a scare tactic and they know it. For that reason they won’t fight it too hard if you want your money back. If you just roll over and accept it -they’ll gladly keep it. But they have little grounds to stand on in reality.
@@UntamedMotors not true. If you sign an agreement / contract and they haven’t failed on any written obligations it’s non refundable. Deposits aren’t new nor are contracts. And all 50 states recognizes contractual law and obligations . Most will just refund but some will keep them from the cold feet buyers . It’s like earnest money on a house
Its a deposit for something u want to buy but if u cant get that product they should give the refund back
@@impaul41 Not like earnest money on a house (I'm a licensed real estate agent too)... Nowhere near the same protections for a vehicle holding deposit. Similar protections only apply if it was a build order. Dealers will refund deposits, I've experienced it for an entire year doing business. I'm not advocating for being wishy washy, it's always best to live up to your word but if something comes up and you're unable to buy -you get your money back.
@@UntamedMotors as a lawyer if you sign an agreement with terms and they fail on none, lawfully you’re entitled to nothing. It’s that simple. Any refund is their discretion. Companies like Tesla will even battle credit card disputes. It’s all up to how much effort they want to put in .