Q: Options when dealership financing falls through and no deposit return.
I recently financed two cars from a dealership. The financing deal for one of the cars fell through, and the dealership informed me that the only options are to sign a new financing agreement at a much higher interest rate or return the vehicle without receiving my deposit back. The original deal was signed on 3/3/2025, and they initially said the decision had to be made immediately, but later extended it to the end of the day. There was no verbal or written communication regarding deposit returns if the financing deal fell through. In a prior experience with the dealership, they refused to refinance a car after promising to do so within a 12-month period. Is there anything I can do in this situation?
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A:
It sounds like you're facing a frustrating situation with the dealership. Here's how you can approach it:
**1. Review the Dealership’s Terms**: Take a close look at the terms of your original agreement, especially regarding the deposit. While many dealerships have a "non-refundable deposit" clause, if the financing falls through due to their fault, they may be legally obligated to return it. If the dealership didn’t explicitly state this in writing, it could be more difficult for them to argue it’s non-refundable.
**2. Document Everything**: Keep all records of your communications with the dealership, including any emails, texts, and the details of your previous experience with them. This will be important if you need to take further action. You should also document any verbal conversations, ideally with a follow-up in writing to confirm your understanding of what was discussed.
**3. Legal Options**: If the dealership refuses to return your deposit, you may want to file a complaint with the Oklahoma Attorney General’s office or the Better Business Bureau. You could also explore small claims court if you believe you have a solid case for the return of your deposit. If they continue to be uncooperative, seeking legal advice might help you navigate your options more clearly.
You shouldn’t be stuck with unfair terms, so it’s important to explore your rights and take action based on the evidence you have.
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