Our vehicle deposits are largely non-refundable. That may seem surprising, but here's why.
We operate all online. When a deposit is made, everyone else person considering the vehicle is locked out. A "deposit" banner is placed on the vehicle. Emails are sent out to buyers with accepted offers but no deposit that a deposit was made. And the vehicle is taken out of our advertising rotation. The vehicle, for all intensive purposes, is sold.
Imagine that you're considering one of our vehicles, but you wait too long and someone makes a deposit. You're out. 👎 But then you check back the next and lo and behold, the vehicle is back for sale.
What's your reaction? Is it one of joy?
For most customers, it's one of intense skepticism. In particular, "what's so wrong with this car that the buyer refused the sale?" Of course, problems are hardly ever the actual reason. The most common reason is lack of available funds. But it's human phycology to be risk adverse and assume the worst.
The damage caused by the deposit is significant. New customers skipped over it, existing customers are now highly skeptical, and it's out of our advertising. The no-sale turned the vehicle into a pariah.
Hopefully that sheds some light onto a policy some buyers consider draconian. We are really hurt by a no-sale, so we need a stronger incentive to weed out tepid buyers and only take the committed ones.
But the non-refundable deposit comes with one caveat -- a bonafide, non pre-textual in person inspection and refusal. At this point, the buyer put serious skin in the game and if the vehicle isn't working for them, we refund the deposit.
Hopefully this clarifies our policy!