Yes, you can often reserve a car after a test drive, but it's not a universal policy and the process varies by dealership. The most common method is placing a refundable deposit to hold the vehicle. This is a practical step if you've found the exact car you want but need a day or two to finalize financing or make a final decision. It signals serious intent to the salesperson, who may then be more motivated to secure your business.
The key is understanding what type of agreement you're entering. A simple "hold" with a refundable deposit is low-risk. However, some dealers might ask you to sign a purchase agreement, which is a legally binding contract to buy the car. Never sign this unless you are 100% certain you are ready to proceed. Always get the terms in writing, specifying the deposit amount and the conditions under which it is fully refundable.
Dealerships have different policies based on inventory levels. For high-demand models, they might be less inclined to hold a car without a firm commitment. It's also a strategic point for negotiation; expressing a desire to reserve the car can sometimes lead to the dealer offering a better price to close the deal immediately.
Here’s a look at typical reservation policies across different brands:
| Car Brand/Dealer Type | Typical Deposit Amount | Refundable? | Average Hold Period |
|---|
| High-Demand EV (e.g., Tesla, Rivian) | $250 - $500 | Usually Non-Refundable | Several weeks/months |
| Luxury Brands (e.g., BMW, Mercedes-Benz) | $1,000 - $2,500 | Often Refundable | 2-7 days |
| Mainstream Brands (e.g., Toyota, Honda) | $200 - $500 | Typically Refundable | 1-3 days |
| Large Dealership Groups | $500 | Case-by-Case Basis | 24-48 hours |
| Used Car Lots | $200 - $1,000 | Varies Widely; Get in Writing | 24 hours |
