A deposit may be for:
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.