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    maui mom 50's Avatar
    maui mom 50 Posts: 3, Reputation: 1
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    #1

    Oct 21, 2008, 06:57 PM
    Deposit for Used Car
    Do I need to return a deposit given on a car I am selling if the buyer backs out?
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #2

    Oct 21, 2008, 07:12 PM

    What did the written agreement that you had them sign say ?

    Normally if the deposit was to hold the car, and they were to come back in... days and buy it, no you keep it, if they back out, that is why they give you a deposit.
    maui mom 50's Avatar
    maui mom 50 Posts: 3, Reputation: 1
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    #3

    Oct 22, 2008, 06:14 PM
    No written agreement at all! They just said they would have the balance the next week and would I "hold" the car and consider it sold.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #4

    Oct 22, 2008, 06:55 PM

    Nope I would keep the money any day of the week like that, and to be honest I have in the past.
    maui mom 50's Avatar
    maui mom 50 Posts: 3, Reputation: 1
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    #5

    Oct 23, 2008, 08:12 AM
    Thanks for your help!
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