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If a person gives downpayment to buy your car then backs out - who gets the downpayment?

It depends on the terms of the agreement between the buyer and seller. If there is no written agreement, then the general rule is that the down payment is non-refundable unless the seller breaches the contract. However, some states have laws that protect consumers in these situations, so it is always best to consult with an attorney to get legal advice.

If there is a written agreement, then the terms of the agreement will control who gets the down payment. Some common provisions in car sales agreements include:

* Down payment is refundable if the buyer cancels the purchase within a certain number of days. This gives the buyer a chance to change their mind without losing their money.

* Down payment is non-refundable if the buyer cancels the purchase after a certain number of days. This protects the seller from losing out on a sale.

* Down payment is refundable if the seller breaches the contract. This means that if the seller fails to deliver the car as promised or if the car is not as described, then the buyer is entitled to get their down payment back.

In addition to these common provisions, there may be other terms and conditions in the agreement that affect who gets the down payment. It is important to read the agreement carefully before signing it so that you understand your rights and obligations.

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