Can Dealer Keep Your Deposit?
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You should demand your deposit back. If the dealer refuses to return it then you should contact your state Attorney Generals Office. They will help you recover your deposit. Usually the threat of involving the AG is enough to get the dealer to give in to your demands.
So I put money down lastnight on a SERK. Thinking of cancelling it due to all of the horror stories. Is it leagal for the dealer to keep deposit. Don't we have 72 hours like a cars buyers remorse type thing?
I think, the deposit can be forfieted if you pull out of your contractural obligations. A small price to pay, when you really think of it ... Technically, they COULD persue the matter and make you fullfill your complete obligation and pay the whole amount. After all, if you signed on the dotted line, you promised to pay them for it. Then it would be up to you to settle your issue with the manufacturer. This is pretty counter productive though and I don't think they would take it that far. If you're lucky enough to get a full refund, for some reason, they may reserve the right to retain a restocking fee...Once again ... this should be covered in your contract.
Also, contracturally, I believe there is also a grace period for you to change your mind but again, unless it's states on your contract that all sales are final, or your buying something that it being sold to you "as is", you're pretty much stuck with your contractural agreement. I think there is some sort of issue with how much is invested by the seller in his fullfilling his obligation to provide the product.
If he has put outany moneyto get the thing shipped, or ordered, or if anything was customized...He shouldn't be out of pocket for those kinds of things either. That's where you will find a definate snag. You see, you can't sign a contract to (let's say) get your bike painted, then after it's done (say the following day), all of a sudden claim that you have changed your mind. It just doesn't work that way.
If in fact there is no signed sales contract, and you simply just handed them a cheque (in good faith), then you entered into a verbal agreement. There is a lot of gray area in this situation. Legal obligations should be discussed with your lawyer for the most acurate protocol. If there is no harm no foul, they should refund your money and everyone is happy. You will eventually pick another bike and complete a transaction sometime down the line ... again ... everyone is happy.
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