QuestionFrom Ontario
M2R 3X2
To Whom It May Concern:
Hi there. I went to a used car dealer on Friday, March 19. Saw a 2007 Toyota Yaris that was fully loaded. Car dealer says my dad and I are in luck because it just recently went down in price to 7899. He sat us down and started to process our financing. However, he asked us for a $500 deposit so that the finance company would think that we are serious buyers. I asked if we are going to get it back if the financing falls through or if we are not happy with the monthly rate. He said, "Yes, of course! The law says we have to give it back!" "I asked again. "Of course, if you're not happy or the monthly is too high. The law says we have to give it back." Reluctantly, my dad did give them $500 through debit.
Today, is Mon. Mar. 22. We just came back from the dealer. The financing came through but for a monthly that we don't think we can afford for 5 years! We asked for our money back and now he says according to the law we can't get it; but because he is a nice guy he'll give it back. But before he does he showed us some other cars which can be financed for smaller monthly payments. He then sent us home to "think it through" and asked us to come back tomorrow for a final say. He did say he "promise" he will give our money back.
We didn't sign any other papers except for the permission for them to check our credit. He was trying to get us to sign transfer of license but thankfully we didn't do that. It was just so hard for me to convince him to give me back the money today. He was telling me how he spent hours going back and forth with the finance company to get us approved. That was him trying to make me feel guilty, I guess.
I just wanted to ask if there are any pointers you could tell me before we go in tomorrow again to ask for the money back. I'm only 21, a busy student. I know I should have researched before. But I just really thought that he was only doing that to get our financing checked. I wished I had seen this forum beforehand.
Sorry for the long email. Thanks in advance.
P.S. I read something about OMVIC from another post. Is there something I could use from here?
AnswerHi Dawn
Let's start with I am close to your turf and been licensed with OMVIC for over 25 years and know the rules when buying a car in Ontario, and you will get your deposit refunded.
The salesperson is trying you on for size, according to the law you can't get a refund ?,,, but he is being a nice guy ? LOL,,, according to the law you signed a bill of sale with payments within your budget and if bill of sale has to be altered in any way it's void.
The fact you were told by the salesperson " according to the law you can't get a refund " is misrepresentation by the dealership, and should be reported to OMVIC if you encounter any hassle getting a refund.
If you need a further explanation before your visit to the dealership for a refund leave a phone number at this address paulsenray@yahoo.com with best time to contact and I will walk you throug the process
Ray http://www.usedcartips.org/
