If I provided false documents to a car dealer to get approval for a car and the deak didn’t go through, is it legal for them to keep my down payment?
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If I provided false documents to a car dealer to get approval for a car and the deak didn’t go through, is it legal for them to keep my down payment?
The car was never registered.
Asked on March 21, 2012 under Business Law, Maryland
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
You need to reference the contract of sale--unless it specifically states that your deposit or down payment will be returned in the event you did not receive financing, they probably can keep the down payment IF it was not due to the dealer's unilateral choise or action that the deal did not go through. That is, if the deal did not go through because you did not meet a third party lender's requirements for financing--or did not meet the dealer's own criteria specifically because you turned in false papers--then, in the absence of a term or clause in the contract or agreement of sale under which you'd get your money back in the event of a no-financing contingency, they could probably keep the money.
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