Refund on deposit on a car

Jameso1974

Hi

My first post, so hopefully i have this in the right place.

In approx 2000 in paid £3108 as a deposit for a new car. As per the selling company, i had to pay £100 on my credit card and then the balance by cheque.

The £3108 represented a 10% deposit.
The car never materialized and the selling company went "under", although it was subsequently investigated by Trading Standards and the guy selling was a con artist!

I was told taht as my £100 initial payment was made by credit card, i would be covered to reclaim the entire amount lost, so i duly contacted my credit card company, Egg, who told me as the value of the car was greater than £30,000, i wasnt covered and hence i lost all of my money.

My friend who also tried to buy a car this way, got his deposit back from his credit card company, as he had only paid £1800 and the value of the car was £18000.

I've always wondered if Egg were correct in their opinion, that as the deal was for over £30,000 my deposit was lost and i couldn't reclaim it.

Any help would be gratefully received.
Thanks
James

boo_star

Section 75 claims are limited to a price of £30000, anything above that should be rejected.

A chargeback may have worked if you were within the time limit for that (120 days.)

Given that it was 19 years ago, you're stuffed anyway.

DCFC79

Jameso1974 wrote: »

Hi

My first post, so hopefully i have this in the right place.

In approx 2000 in paid £3108 as a deposit for a new car. As per the selling company, i had to pay £100 on my credit card and then the balance by cheque.

The £3108 represented a 10% deposit.
The car never materialized and the selling company went "under", although it was subsequently investigated by Trading Standards and the guy selling was a con artist!

I was told taht as my £100 initial payment was made by credit card, i would be covered to reclaim the entire amount lost, so i duly contacted my credit card company, Egg, who told me as the value of the car was greater than £30,000, i wasnt covered and hence i lost all of my money.

My friend who also tried to buy a car this way, got his deposit back from his credit card company, as he had only paid £1800 and the value of the car was £18000.

I've always wondered if Egg were correct in their opinion, that as the deal was for over £30,000 my deposit was lost and i couldn't reclaim it.

Any help would be gratefully received.
Thanks
James

Id move on from it, it happened years ago.

My advice buy from a reputable seller, at least check said person out for anything dodgy.

eco_warrior

As Boo Star says, a chargeback couldhave worked for the deposit.

You'd have had 120 days from the day the merchant ceased trading, assuming the timescales were the same then. I couldn't confirm that to be honest.

bris

Jameso1974 wrote: »

Hi

My first post, so hopefully i have this in the right place.

Right place, just 19 years to late.

Jameso1974

Thank you to the people with genuine answers, i appreciate your time and advice. As i said, i did make a claim at the time of the loss, but the claim was rejected by Egg. The only reason for asking now was that didn't have anywhere to go upon receiving Eggs decision and therefore accepted it as given.

I fully understand what I did was highly speculative. 20 years ago, there wasn't the freely available information as there is now. I took a punt, it didn't pay off, i was willing to accept the consequences of the action, and no harm done.

To those whom replied in a less sincere way, please try to remain kind and courteous to people who may not know as much as you. If you can't do this, maybe you should say nothing. Everything in life is easy in hindsight, and I've always lived by the mantra, nothing ventured, nothing gained..... it's served me just fine.

Thanks
James

jonesMUFCforever

Thank you James