First time holder

[DuckNuggets]

Looking for some guidance from the brain trust.

1. I have an LC on hold. So far went through credit check and put credit card info for deposit. Purchase agreement is signed with a 5k markup.
2. I just placed another LC on hold at another dealership. They're waiting for it to physically arrive before running credit. No paperwork has been signed and no markup.

That being said. Am I correct to believe that I don't have to purchase with dealer 1 according to CA laws?
Also, these "holds" seem too easy to place so is there a chance that the car can be sold without being notified? Should I be looking out for anything?

Thanks in advance.

 

[JTP]

These should be fully refundable deposits. Until you buy the car you can walk away

 

[DuckNuggets]

Thanks for confirming. I’m assuming I can still talk about the markup with dealer 1 once the vehicle arrives.

 

[JTP]

Yeah, I have three active deposits.

 

[MAC1958]

Concur, you are under no obligation and run from ADMs.

 

[DuckNuggets]

Nice. Hope to pit them against each other but I’m sure I’ll have to play into their game of chicken.