Thank you, Jeff, for such detailed reply. They did ask me if we are open to this program but we refused, mostly because the financial manager was dodging my phone calls, left us hanging there, and never tell the truth until the very last moment. I really hate their approach in the financial process, it is nothing but frustrating.Jeff-TheBiz wrote: ↑Nov 17th, 2018 9:35 amDepending on whether or not the bank knows that you are a newcomer or a non-landed immigrant (SIN beginning with a 9) they may or may not approve you. If you history is very little or even if you have dealings with Scotia Bank (they would know your status) they may ask for your SIN.
That being the case, they do have a StartRight Program for newcomers, which will allow you to get a new car, however one of the stipulations is 25% down towards the loan/lease.
If you do not choose to go this route, then the dealership has absolutely no right in keeping your deposit. You may even want to try a different manufacturer, but if they lease/financing is through Scotia Bank, you can expect the same decision there.
In the end, they agreed to return the deposit since I told them I did not have 25% down payment at the moment. I got my money back and leased a 2019 Camry with similar conditions. Unlike this Mazda dealership, a very famous one located near(not in) Oakville, Oakville Toyota has been very transparent with us, put everything upfront, this helps a lot, at least makes us felt like customers, not sellers.