Deposit Dilemmas

In Florida, Pursuant to Fla. Stat. 501.976(10), it is unlawful for a dealership to “[r]equire or accept a deposit from a prospective customer prior to entering into a binding contract for the purchase and sale of a vehicle unless the customer is given a written receipt that states how long the dealer will hold the vehicle from other sale and the amount of the deposit, and clearly and conspicuously states whether and upon what conditions the deposit is refundable or nonrefundable.”

If a car dealership in Florida has charged you a down payment without providing a compliant receipt and ultimately cancels the transaction, they cannot retain your deposit. In addition, pursuant to the Florida Consumer Collection Practices Act, you may also be entitled up to an additional $1,000.00 in statutory damages.

If you’ve been taken for a ride, contact us today for a free consultation!