Took deposit on vehicle. Do I have to sell it.

Scots

I agreed to sell a vehicle to a dealer today and accepted a deposit with remainder next week, but the price offered was lower than I wanted. After thinking about it I want to keep the vehicle and try and get a better deal elsewhere. Would I be able to just give him his deposit back and say sorry I've changed my mind, or am I legally obliged to sell it ?

DoaM

What paperwork was exchange? What did you sign?d

Scots

Verbal agreement at my place. Dealer's office paid deposit by online bank transfer later in day and emailed me a purchase invoice showing details of vehicle and amounts of deposit and balance to be paid on collection next week sometime.

EdGasket

You're obliged to sell it as agreed.

Richard53

Did you agree to sell it? Even a verbal contract is enforceable in law. However, the dealer may well think that's it's not worth enforcing. You can only ask.

davidwood123

Be a man/woman of your word

Too many off the opposite in todays society

Guest101

Return the deposit and see what happens? It's unlikely to be pursued, cost more than it's worth

iolanthe07

Imagine how !!!!!! off you would be if it was the other way round.

bobbymotors

davidwood123 wrote: »

Be a man/woman of your word

Too many off the opposite in todays society

Correct

all day long, world is full of welchers like this a deal is a deal.

Tiddlywinks

You agreed - the dealer has kept his side of the deal - suck it up and complete the sale.

Besides, a bird in the hand....