Can I get my deposit back on a car?

When you give a car dealer a deposit, it is considered an upfront or initial payment on a car. As a rule, it is not refundable unless specific circumstances apply. When buying a car from a dealership, the dealer will want two things: a signed contract and/or a deposit.

Can I sue to get my down payment?

You cannot get your down payment. You can get the deductible, but your insurance company should have done that for you.

What is deposit law?

Howe v Smith (1884) 27 Ch D 89 defines a deposit in law as: a payment made to secure or guarantee a seller’s performance of the contract. If the payment constitutes a part-payment, then the seller would only be able to keep such amount as is equal to its loss from the buyer’s cancellation.

What happens when a car won’t sell at a dealership?

“Sometimes, a piece of inventory just won’t sell, so the general manager will keep lowering the price,” Wheeler explains. The dealership loses money on these cars, but the salesperson still gets commission. If a car is proving particularly hard to sell, some dealerships hand out cash prizes, called “spiffs,” to whoever finally sells it.

Do car salesmen get paid if they don’t sell a car?

Many salespeople work purely on commission, meaning they only make money if they sell a car. “We’re not paid anything for standing there 12 hours a day and not selling,” says McDonald. “And if I work a whole week and don’t sell a car that week, I make nothing.

What to say when negotiating at a car dealership?

When you return to the dealership ready to make a purchase, don’t let yourself be taken hostage. Say: “Give us your best price.” Then, if the salesperson offers to go back and forth negotiating with their manager, tell them to text or email you the results.

Do you owe your boss money as a car salesperson?

In fact, they might owe their boss money. If a salesperson has a dry spell, some dealerships will let them draw against their commissions until they can pay it back. In car sales lingo, this is called being “in the bucket.” McDonald says, “Once you get in the bucket, it can be very hard to get out.