Can the deposit for a car be refunded?

1 Answers
KaydenMarie
07/24/25 10:44am
The deposit for a car cannot be refunded. Here is more information about deposits: 1. Concept: (1) A deposit is a form of debt guarantee, where the parties to a contract agree that, to ensure the performance of the contract, one party will pay a certain amount of money to the other party within the scope prescribed by law. (2) After the debtor fulfills the debt, the party who paid the deposit has the right to reclaim the deposit or use it to offset the payment. 2. Legal basis: (1) Article 115 of the "Contract Law" stipulates that the parties may agree that one party shall pay a deposit to the other party as a guarantee of the claim in accordance with the "Guarantee Law of the People's Republic of China". After the debtor fulfills the debt, the deposit shall be offset against the payment or reclaimed. If the party who paid the deposit fails to perform the agreed debt, they have no right to demand the return of the deposit; if the party who received the deposit fails to perform the agreed debt, they shall return double the amount of the deposit. (2) Article 89 of the "Guarantee Law" stipulates that the parties may agree that one party shall pay a deposit to the other party as a guarantee of the claim. After the debtor fulfills the debt, the deposit shall be offset against the payment or reclaimed. If the party who paid the deposit fails to perform the agreed debt, they have no right to demand the return of the deposit; if the party who received the deposit fails to perform the agreed debt, they shall return double the amount of the deposit.
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