Help paid deposit on car but dont want to proceed
Comments
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firstly have a look at this from trading standards
http://www.tradingstandards.gov.uk/Kent/factsheets/FS5NEW%20nov07%20refunds.pdf
[if they had a buyer lined up, why wasn't it sold, why didn't it have a deposit on it already, why wasn't it a £50 deposit, why was no contract signed? ]
perhaps the other buyer had to sell their car?the OP agreed to pay £1000
No contract needed to be signed at that time,although a receipt should have been issuedI MOJACAR0 -
Once again Anihilator chimes in with the definitive legal position. Thanks!
Not really. It all depends on the circumstances. As others have said, if to retain it would constitute a penalty (i.e. not a genuine pre-estimate of the loss likely to be suffered in the OP not proceeding with the contract) then the deposit can be reclaimed in full.0 -
Equaliser123 wrote: »Not really. It all depends on the circumstances. As others have said, if to retain it would constitute a penalty (i.e. not a genuine pre-estimate of the loss likely to be suffered in the OP not proceeding with the contract) then the deposit can be reclaimed in full.
How is that different to what Anihilator said?Je suis Charlie.0 -
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You also have to price in risk for unforseen events. Extreme example:-
Take the Toyota recalls these could result in all Toyotas being declared scrap (not likely I know) and thus the value of all other cars would rise say 20%.
If the buyer has left a deposit he obviously buys at the agreed price if the car is not a Toyota.
If the car is a Toyota he then walks away thanking his lucky stars it was only the deposit.
Anyway you get my drift and risk should be priced into any deposit along with interest rates.0 -
The civil position has already been touched on here, but there may also be a criminal aspect to this. If so, TS investigating may elicit a refund from the dealer on 'good faith' grounds.
The possible offence is under Reg 12 of The Consumer protection from Unfair Trading Regs 2008. This section specifies that offences are created for banned practices listed in schedule 1, and number 7 in that list is:
7. Falsely stating that a product will only be available for a very limited time, or that it will only be available on particular terms for a very limited time, in order to elicit an immediate decision and deprive consumers of sufficient opportunity or time to make an informed choice.
TS would need to prove that there was no other buyer in order to prosecute, but as a strict liability offence, the trader will have a tough time providing a defence. This part of the legislation is there specifically to stop traders from pressurising a consumer into a sale.
As I have said, this does not mean TS can get you the deposit back. You should still report the matter to them anyway.
I would then hope that the trader sees sense and returns your deposit, or at least the bulk of it. This may hopefully negate the need for a civil action by OP.0
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