Buying New - Deposits

DaveBH

Hi guys,

Considering buying new for '08. If I pay a deposit to a dealer - is it non-refundable - for instance - if I change my mind before January and decide to buy a different car or go the 2nd-hand route?

johnnyrotten

Its always refundable

colm_mcm

The idea of the deposit is to hold a particular car, if you decide on a car from another garage you prob won't get your deposit back. What'd be the point in the garage taking the deposit otherwise?

It's all laid out on the SIMI order form, there are situations, eg. if a price changes etc. where you can get your deposit back.

MercMad

Yeah the deposit is there to seal the deal.

You pay you deposit, they accept it and neither can back out of the deal !

Dealers who do not require or accept a deposit, stating it is unneccesary, have therefore given you no commitment to hold the price OR get you the car when they said they would. It is not uncommon for dealers to claim they dont require a deposit to order, and then fill out the order form stating delivery dates, and then back out because the car is in demand and they have an easier deal, say without a trade in or at a better price for them !

RobAMerc

johnnyrotten wrote: »

Its always refundable

??????


I don't think so - otherwise whats the point ?

As MercMad says - if the seller doesn't require a deposit the alarm bells should start ringing - happened me last year - did an outrageously good deal on a car and shook on it, couldn't get him to take a deposit ( gentlemans agreement he said ), then couldn't pin him down to get the deal sorted, I went on an organised weeks hols which admittedly didn't help - but that was no problem according to him - but while I was away the car was mysteriously involved in an accident. ( It had also been still advertised all that time ) - I never heard from him again.

OOpps sorry - thread is about buying new!

CrowdedHouse

johnnyrotten wrote: »

Its always refundable

Not so sure about that...


When I was buying a new car I offered the dealer a fairly large deposit (I considered it a down payment as I had a couple of months to wait for the car and it would take the sting out of handover day..)

He was at pains to point out that I didn't need to pay as much and that the deposit was non refundable.

All worked out ok but I did wonder if my circumstances had changed I had left myself vulnerable to losing a good few quid.


OP just be sure before you sign the dotted line and/or only put down as little as possible.

DaveBH

Thanks a million for the replies. I'll tread carefully and hold off on a deposit for a while at least, if I do decide to go "new".

MercMad

BTW a few hundred quid is all that is required if you DO see a car you like. At least that way its carved in stone, and you have a receipt for the deal, but make sure the total price is on there !

Tipsy Mac

I'd say unless it's a pink coloured car or you have chosen some other unsellable extras 3 or 4 hundred should be enough of a deposit. I would doubt you would be entitled to 1 cent back if you backed out of the original deal.

louie

I'll wait and hold the money safe, until the right time comes.

You could propably pick the same car, few grand cheaper in February next year if you can wait.

Deposits are ussualy non-refundable, and if you decide to go for it, then 100 should do.

colm_mcm

The OP is buying a new car in 2008, deposits are required on pretty much any car for January or February.

Some dealers will not accept 100. 1000 is more likely.