How to get deposit back from car dealer?

Sandtree

Klouise12 said:
Thankyou, I have looked and sort of read about how they only should keep the money that they may have lost during admin fees etc. So hopefully they realise we know that when they call us back. T he e guy did say he spoke to the owner and he has said no as it’s in the TS&cs and we are waiting for the sales advisor to now speak to his manager to see what he can do what I don’t understand is if there owner says no how can he go under him and speak to someone else to hopefully give us it back? It doesn’t make sense. The sales advisor on the phone said he has over 800 emails to o through with customers wanting the same car so in the respec to don’t see how they’ll be losing money with us cancelling the order

Calculating an exact loss is complicated; its why insurance companies tend to charge a flat £40 - £75 to all customers that want to cancel early because an average cost is simple to calculate but individual cases difficult.

Admin costs will certainly feature but added to that will also be the cost of readvertising the item/repeating the sales process to some degree etc.

The law is clear cut in saying its direct losses sustained but isnt prescriptive to say exactly how it should be calculated and ultimately it comes down to negotiation pre court or making a more convincing argument if in court

AdrianC

Herzlos said:

Dr_Crypto said:

Or ask them to roll the £900 into your new PCP deal. Shouldn’t be a massive increase in monthly repayments. 

It's much cheaper to just forfeit the deposit than roll the £900 into a new deal.

Almost certainly not - not without a truly usurious APR on the new PCP.

Assuming 5% interest, £900 is only going to cost fifty quid or so per year of the term - and the £900 gets repaid via the monthlies over the term, rather than going on the balloon, so probably half that in total.

Herzlos

AdrianC said:

Herzlos said:

Dr_Crypto said:

Or ask them to roll the £900 into your new PCP deal. Shouldn’t be a massive increase in monthly repayments. 

It's much cheaper to just forfeit the deposit than roll the £900 into a new deal.

Almost certainly not - not without a truly usurious APR on the new PCP.

Assuming 5% interest, £900 is only going to cost fifty quid or so per year of the term - and the £900 gets repaid via the monthlies over the term, rather than going on the balloon, so probably half that in total.

+ the cost of the new car for the 3 months.
So she could lose the £500 and run the car for the 3 months before it needs to be handed back, or she can borrow £900 (which will need to be paid back and have interest paid) now, and then pay 3 months of the new PCP.

Biggus_Dickus

OP,...although I’ve bought/sold many cars over the years I don’t profess to have any particular expertise in the whys-and-wherefores, or the legalities, of your present predicament but here’s my two penn’orth.

If you’re unable to secure the return of the £500 deposit perhaps?? as a last resort you can persuade them to defer the cash for use against a different car in a few months time. i.e. a ‘credit note’ with a 3-month purchase window, for  want of a better description.

I’ve no idea if that’s a feasible ‘last resort’ suggestion or not, and even then they may not have a suitable car available when you’re ready to buy, but at the moment it would be better than losing the  lot.

As others have said, re-visit the dealers in person and plead your case;...your physical condition, the current economic climate and it being Xmas may work in your favour.

It’s rumoured that there’s a rare-breed of  car salesmen who actually do have a ‘heart’;...I don’t believe those rumours myself btw,... but you may get lucky.

I wish you well,...hope everything goes ok.

 

 

 

 

AdrianC

Herzlos said:

AdrianC said:

Herzlos said:

Dr_Crypto said:

Or ask them to roll the £900 into your new PCP deal. Shouldn’t be a massive increase in monthly repayments. 

It's much cheaper to just forfeit the deposit than roll the £900 into a new deal.

Almost certainly not - not without a truly usurious APR on the new PCP.

Assuming 5% interest, £900 is only going to cost fifty quid or so per year of the term - and the £900 gets repaid via the monthlies over the term, rather than going on the balloon, so probably half that in total.

+ the cost of the new car for the 3 months.
So she could lose the £500 and run the car for the 3 months before it needs to be handed back, or she can borrow £900 (which will need to be paid back and have interest paid) now, and then pay 3 months of the new PCP.

The contract for the new car isn't three months longer. And they're paying monthlies now.

gjmpugwash

How do I get my 'refundable deposit' back from the car dealer?
Tesla take a deposit to reserve one of their cars. This is refundable at any time and they honour that commitment. Kia appears to have followed Tesla and also ask for a deposit to order their EV's. From September 2019 to September 2020 all my local dealers were saying the same, their EV's were 6 months delivery, no price discounts and a refundable deposit was needed to reserve a car. One dealer also pointed out the cancellation policy in their T's & C's and said it does not apply for 2 reasons; 1. there are more customers than cars and 2. there is such a long time from deposit to delivery situations might change. I asked before signing for the car in September that the deposit was still fully refundable. The sales representative said it was and then gave me the deposit receipt, a copy of the order, and a copy of their T's & C's. At no point did he go through the T's & C's or say that the deposit was now not refundable Currently, there are no cars available until January 2021. I have now changed my mind and asked for the deposit returned. The main dealer has refused saying breach of contract. As all the garages in September were saying the deposit was refundable I did not get it in writing. Does anyone know how to get the deposit back? I have believed the deposit was refundable for more than a year, time enough for dealer sales supervisors and managers to correct the misunderstanding. By trusting the sales representatives it looks like I will lose the deposit while the main dealer is laughing all the way to the bank, he's got my deposit, has no expenses and a much sort after car arriving early next year. 

AdrianC

gjmpugwash said:

At no point did he go through the T's & C's

At what point did you decide to read them for yourself? Before signing, as soon as was convenient after signing, or not until three months later?

Currently, there are no cars available until January 2021.

You know there's only a single-digit number of business days left before January 2021, right?

EdGasketTheThird

How do you tell when a car salesman is lying?

....when he opens his mouth.

DUTR

EdGasketTheThird said:

How do you tell when a car salesman is lying?

....when he opens his mouth.

I partly agree, although, I don't think it's fair for people to sign on the dotted and then change their minds later and it becomes the readers problem, in a sense the cheapest option is to right off the deposit, assuming the dealer is unwilling to return it.

macman

Why would you sign an order form for what you thought was merely a holding deposit? Unless you specifically establish otherwise, a deposit means that you have contracted to buy the vehicle at the agreed price-it's not an 'option to purchase'.