Hi  my son recently put a deposit on a new renault clio of £599.
Because he is 20 and has no credit score they asked him to provide a
guarantor which had to be a blood relative. Due to me being in an IVA I
was unable to sign his father is no longer around this left my mother.
She agreed to stand and we also told her that it would be registered at
her address because of my IVA. This was all agreed all the finance
company wanted was proof of property ownership because she is 75 and
retired. Well she was not happy and went to CAB and they told her that
they could take her house if my son did not pay. Needless to say 10
days before the arrival of the new car she backed out of the agreement
also telling them that he did not live at the address he put on the
form. This has left my son high and dry I asked if he could use the
deposit against a used vehicle so that he could finance it himself.
They said because he did not put his correct address then this would be
a problem. The car was standard with the exception of added air con
which my son asked for so would not be a problem to sell. They
contacted him on Saturday to tell him that he couldn't have his deposit
back because they are only allowed a certain number of cancellations
otherwise they get fined by Renault.This does not help my son. i
specifically asked the salesman at the time if the sale did not go
through would he get his deposit back and I was told that they could
not legally keep deposits. Can somebody advise me !!!!!

Hev,

Dirty tricks to try and make you believe he can't have his deposit back. It's a three party agreement with him, the dealer and the finance company. He is allowed to back out at any time for any reason. Tell them you know your rights and lets go to court if you don't refund the deposit.

JJ

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You gotta tie yourself to the mast my friend, and the storm will end.

JJ, doesnt this depend on whether it is the finance company or the salesman who has taken the deposit?

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Dave

P.S. I feel obliged to point out, I am speaking from experience and my own personal views above - I am not an advisor, nor an expert.

If the salesman took the deposit, it's refundable. Never heard of a finance co taking a deposit as they are just used to finance the balance of the vehicle's cash price.

If they'd signed for a cash deal (2 parties) then the dealer could charge fees for cancellation / keep the deposit....

JJ 

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You gotta tie yourself to the mast my friend, and the storm will end.

jjnaughalty:

If the salesman took the deposit, it's refundable. Never heard of a finance co taking a deposit as they are just used to finance the balance of the vehicle's cash price.

If they'd signed for a cash deal (2 parties) then the dealer could charge fees for cancellation / keep the deposit....

JJ 

Ahhh, that makes a bit more sense. Thank you.

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Dave

P.S. I feel obliged to point out, I am speaking from experience and my own personal views above - I am not an advisor, nor an expert.

JJ,

Thank you so much for your advice. Went today to tell them I knew my sons rights and I was willing to go to court and they have backed down my son just has to put the cancellation in writing and the finance manager said he would draw up a cheque for collection next week.Absolutely chuffed!!!!

 

You're a real star

Hev 

 

Hev1263:

JJ,

Thank you so much for your advice. Went today to tell them I knew my sons rights and I was willing to go to court and they have backed down my son just has to put the cancellation in writing and the finance manager said he would draw up a cheque for collection next week.Absolutely chuffed!!!!

 

You're a real star

Hev 

 

Top stuff! How about a cut of the cheque??? LOL

Made up you were successful.

JJ

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You gotta tie yourself to the mast my friend, and the storm will end.

Hi Hopefully someone can help me!! I paid a £350 deposit on a car at a local garage on Tuesday evening (Feb 5th 2008). I did say that I wanted a friend to check over the car and would I get my deposit back if he advised against it, the manager said that woudn't be a problem but he assured me my friend wouldn't find any problem with the car. The car was checked over for me and I was advised not to buy it, it was an OK car but was hugely overpriced. Anyway, the General Manager has advised me (through his sales man) that they will be with-holding the deposit and it can be used on any car of my choice.......... I was going to be paying cash so there was no finance to be arranged. I didn't sign anything and have a wee receipt for my £350. Can anyone help me? I've just started work and passed my test so money is tight!

Thanks