A deposit holds the vehicle you want to buy until you can pick it up. Whether you're financing or waiting for funds, let the seller know your intentions and how much time you'll need to complete the purchase.
Size
The size of your deposit can vary. The seller should decide the amount he wants to hold the car you want to purchase. Some dealers will take as low as $100 for a deposit. Some require thousands.
Significance
A deposit confirms you are a serious buyer, and proves to the seller you intend to purchase the car. Dealers often require a deposit if you don't take your car home the same day. Also, when you leave a deposit, the vehicle is either taken out of a dealer's inventory, or off the market by a private seller.
Warning
Before leaving a deposit, make sure you discuss the terms of purchase and whether your deposit is refundable. You never know what circumstances can change, and if you leave a significant amount of money down, you can lose it. Make sure you get a receipt, and get proof in writing that your money will be returned if plans fall through.
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