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I have on order a 2002 Honda Odyssey EX-L. I put down $500. With the recent changes in the economy and because it is going to take so long to get the van I'm considering getting an older van ('01 Grand Caravan). I'm curious as to what will happen to my down payment? Seems to me it should simply be refunded, but this is a car dealership we're talking about
Anyone know?
 

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It depends on your arrangement with the dealer.

A couple of places I went to for a 2002 said the deposit is non-refundable, so I left. I have a refundable deposit in now at another dealer.

Earlier in the year I tried to buy a 2001 Ody and got jerked around by the dealer. I did get my $500 deposit back but only after many calls and visits. The sales manager (at O'Hare Honda, in Des Plaines, IL) claimed he had to have all the original receipts and that I had to present them during the "correct" business hours. I finally found a different sales manager who took care of me fairly quickly, but it still required several follow-up phone calls to their accounting department.

We are thinking about the economy too and that helped us decide to get the best vehicle we could afford, as we tend to keep cars many years.

Regards,

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Maugham

"I plan to live forever. So far, so good"
'02 RP EX-L due 10/17
'85 Prelude that we'll keep!
'01 Ninja folding aluminum scooter
'00 New Balance Model 658 Shoes w/ '01 White Laces
 

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<font face="Verdana, Arial" size="2">Originally posted by mhellman:
I have on order a 2002 Honda Odyssey EX-L. I put down $500. With the recent changes in the economy and because it is going to take so long to get the van I'm considering getting an older van ('01 Grand Caravan). I'm curious as to what will happen to my down payment? Seems to me it should simply be refunded, but this is a car dealership we're talking about
Anyone know?
</font>
As Maugham said, depends on the dealer. Read the buyer's order/contract. Just ask for it back if you want out of the deal. They may just hand it over. If they won't return it, you can dispute the charge if you put it on a credit card. Stop payment if you wrote a check. If you paid the deposit in cash it may be more of a struggle. But for $500, it's worth pursuing. If you make the point that you may be a customer in the future,just not right now, they should work with you. Good luck.
 

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State law may determine if a non-refundable deposite is even allowed. Definitely check on that. My state doesn't allow non-refundable deposits on cars.
 

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We put $500 down at one dealer but got a better deal at another. The first dealer wouldn't meet the second dealer's deal, so they told me they would give me my $500 back. I didn't even have to ask for it. I think it would be a pretty stupid business practice to keep the $500 and alienate a potential future customer, especially on a van that has a waiting list. I don't think he will be losing any money if he gives you your money back - someone else will just move up on his waiting list. Tell the dealer you plan on taking the van to him for service, so he really isn't losing out or give him a sob story about not being able to afford it any more. I haven't heard of anyone not getting their money back and several people on this forum have put $500 down at multiple dealers.
 

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I put a $500 deposit at my local dealer in Iowa City. I have to back out of the deal now about 10 days before the van will come in. They told me they would not return my deposit, even if someone else bought the van before it arrived. Of course I'm pretty upset, especially since I've bought a car from them before and have told other friends to buy there. Well, no longer. My lawyer says to contact the Iowa Attorney General Consumer Protection Division which is what I'll do tomorrow. He knows that this dealership uses that tactic. This should be a warning for those who are in the area. I bought our other Odyssey from a dealer in Davenport and there's another dealer about 20 miles north of us.
 
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