<prompt> Human: I put down a 500 deposit on a new car after agreeing on a price. However, a different dealer is offering to sell me the same car for 1500 less. Can I back out of the car purchase on the first dealer and go buy from the second dealer? Should I expect to lose my 500 deposit?I havent signed anything yet except that credit card receipt for the deposit.  <response>: The law on whether you get your deposit back varies greatly depending on your state. Generally, contract law would say if you back out you lose the deposit.I would go to the new dealer, tell them youll lose the deposit at original dealer and ask them to drop it another 500. Then Id walk into old dealer, tell them another dealer has offered the same product for 2000less and ask them to match it.When they say, youll lose your deposit just say but Ill still be saving 1500. 