Paid deposit, pulled out of deal - What now?

[KentishMan]

Long story, but pd deposit for merc but was not satisfied when further info required was not provided (important questions not answered) so pulled out of deal. Yes I was a bit quick paying deposit but now have a prob as trader refuses to give any money back - have I any rights or can I say bye to deposit???????? There must be other folks who have had second thoughts!
Thanks for comments.
Kentishman

 

[Speedmaster]

you may want to consult the sale of Good Act 1979 ont he internet, cant remember the section but am sure section 8 of it.

I think the courts would suggest that you have forfeited your deposit ( see the case of Zemhunt Holdings Ltd v Control securities plc 1992), where the courts stated that if a purchaser fails to honour an agreement, they foreit their deposit.

Depends what is written in the small print, how large the deposit is and if it is worth pursuing it legally. Could be more costly if small depsoit

 

[Stulc]

Hate to say it....but you should have asked/found out everything before you handed over the cash, Iv'e done that before too as many other aswell to probably (maybe not on here though).
he doesn't need to give you your money he can (as a "good will" thing), but (as stated) really you should have aksed about everything before hand. Unless there's problem's thats not been written anywhere your screwed, like I been there, done it, got ripped off.

 

[davidsl500]

Generally speaking, when you paid the deposit you entered into a contract - i.e., as the buyer, you agreed to buy and the seller agreed to sell. If you then breach the contract by no longer wanting to buy then the seller is entitled to compensation for the breach. Don't forget that the seller could sue you for breach of contract and ask for more than the deposit !!

Your only get out and chance of getting your deposit back is if you can prove that the seller failed to keep to part of the contract e.g., did not furnish you with information that he promised at a cetain time as part of the agreement prior to paying the deposit or the car is not as described.

Did you get a receipt for the deposit and are there terms and conditions on the receipt?

If you could prove that the car was unroadworthy then you could apply pressure on the trader to refund the deposit - or take him to trading standards since this would be an offence.

If you have put a substantial deposit down on the vehicle have you considered buying it anyway and then reselling it to lessen your loss?

 

[johnnycapone]

Hi.
Do you not get a cooling off period when entering into buying agreements? or is that just for HP agreements?

 

[davidsl500]

Hi.
Do you not get a cooling off period when entering into buying agreements? or is that just for HP agreements?

Nope. Cooling off periods generally only apply to goods purchased by "distance selling" - mail order/internet etc and also where goods are purchased away from the traders premises eg door to door sales

 

[jberks]

What info were you looking for?
In the heat of an argument you often loose sight of the real issue. If they were to provide the info you requested and the answers were satisfactory perhaps you could complete the deal after all. I know pride comes into it, but pride is an expensive thing sometimes.

Its true they don't have to refund the deposit, but they also don't want to fall out with you. No business needs unhappy customers bad mouthing them and while some salesmen are a bit thick, the dealer principle usually isn't. Sit down and have a chat.

If the answers are unsatisfactory, then you could still use the deposit against another car if the one you originally wanted proved unsuitable.( I assume its an MB dealer and if so, you have a 30 day no quibble swap option anyway, so they might as well let you have something else straight off).

A friend put a deposit down on a new BMW many years ago. Changed their minds and tried to get the deposit back. After some haggling threats of spoiling their reputation around the neighbourhood, the relented and returned the money. Brutal but often effective.

 

[panzermk6]

If I ever have to take a deposit(which I don't like doing,as you just want to sell the car!),I give the purchaser a proper sales receipt,which states on it that the deposit is non-refundable.It does help to stop purchasers umming and erring,and taking up all your time.All information on the vehicle is offered beforehand.
P.S I'm NOT the trader being talked about on this thread!!!

So I wonder if anything was printed on this guys receipt for the deposit?