Georgia  |  Securities Law

Legal Question

Asked on: 4/27/12, 6:38 am

On 3/23/12 I visited a buy here pay here car lot and signed a deposit receipt stating the my down payment would be applied as my security deposit. The documentation states that under no circumstance can the security deposit be refunded. However it also states that I have a remaining balance on the car and that the sale will finalize at unknown date (This portion of the document was blank). Am I entitled to my down payment/security deposit of $500 because there was no specific date of finalization? The transaction began on 4/23. I received the car on 4/24 and returned the car on 4/26.

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