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I am hearing tons of random horror stories when I read this forum about dealers doing crazy things nowadays. So now I am thinking of the worst that can happen. I just placed a deposit and I am just wondering if they can (1) ask for more than agreed upon when the vehicle arrives, and (2) refuse to refund me the money even though they verbally said the deposit is refundable. Does it explicitly have to say somewhere on the deposit receipt "100% refundable?"

Thanks in advance!
 

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They can charge you any price they want until there’s a signed agreement from both parties. Until it’s your car, it’s their car.

Now, if you get screwed and disagree with pricing, they’ll almost always give your deposit back. Pretty much all dealers will as standard operating procedure, and even those who say they won’t generally cave if you push hard.

I wouldn’t worry about it. I also suspect they’ll honor existing price agreements, but it will be definitely easier if you have it in writing somewhere (and not just a verbal agreement)
 

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2021 Sienna Limited AWD, 2022 Sienna XSE AWD
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My deposit was nonrefundable but it explicitly said so when I signed the paperwork.
 

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2022 Sienna Woodland Edition
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I put 500$ deposit the dealer said they don’t have the car but they said verbally in good faith they will refund it if they can’t provide the car in two months.we signed paperwork and loose financing docs that can change
This particular dealer though gave really high value for my 10 yr old car ( cosmetically fair but not good) like 8K I think the car is worth like 5-6K the value on signed paper is said 8K I am worried if they can come back later and reduce the trade value
The only reason I went to then was for higher trade value
 

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Mine was in writing refundable and I paid with a credit card. So if anything you can always call your credit card company and contest the transaction if they don't honor a refund.
 

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I am hearing tons of random horror stories when I read this forum about dealers doing crazy things nowadays. So now I am thinking of the worst that can happen. I just placed a deposit and I am just wondering if they can (1) ask for more than agreed upon when the vehicle arrives, and (2) refuse to refund me the money even though they verbally said the deposit is refundable. Does it explicitly have to say somewhere on the deposit receipt "100% refundable?"

Thanks in advance!
Since you already placed a deposit it really doesn't matter at this point, does it? If they said it is refundable why would you think it wasn't? It seems like you are trying to find something to worry about before a problem even exists. Take a step back and relax.

Each State has different laws protecting consumers. It depends on where you live. Even if a dealer said it was non-refundable it usually is especially when they sell the Vehicle to someone else at the same price and incurred no loss.

My dealer took a $1000 deposit and said it was non-refundable. If they don't give me the vehicle at the agreed upon price and the agreed upon value of my trade you can bet your bottom dollar I AM GETTING MY DEPOSIT BACK.
 
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