A deposit may be for:
If you intend to leave money as a partial payment, make sure you get in writing that the money you are leaving is a partial payment.
The deposit terms and conditions must be clear, so a dealer must provide the following in writing:
See a sample deposit agreement
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Yes, a deposit may be kept by the motor dealer if the buyer does not carry through with the transaction as agreed. This can be modified by an agreement between the dealer and consumer. It is best to get this in writing. Sample deposit agreement.
However, the deposit may still be refundable if the dealership cannot deliver on its promise to provide the vehicle, the price or the terms you agreed on.
Are there any return and exchange polices in BC law?
Vehicle sale agreements completed at the dealership are binding and there is no legal right to return a vehicle for a refund. However, some dealers have return or exchange policies. Get a copy of the policy in writing and be sure you understand the policy before you sign any documents.
Do you have a dispute with a dealer regarding your deposit?ย ย
Please use the VSAโs My Self-Help to learn about your legal rights and responsibilities of the dealer and to try and resolve your issue.ย ย
If eligible, My Self-Help will provide you with access to the VSAโs online dispute resolution platform Connector to try and resolve you issue directly with the dealer. The information about your legal rights from My Self-Help will help you to try to negotiate a settlement for your issue. Negotiations are usually the fastest way to resolve a dispute.โฏโฏย
Please note that the VSA does not investigate formal consumer complaints about deposits.ย
