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    rteluk's Avatar
    rteluk Posts: 1, Reputation: 1
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    #1

    Aug 12, 2011, 05:39 AM
    Losing a deposit after changing your mind?
    I've changed my mind about buying a car after placing £1000.00 deposit. Does the dealer have the right to keep the deposit?
    smoothy's Avatar
    smoothy Posts: 25,490, Reputation: 2853
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    #2

    Aug 12, 2011, 05:48 AM

    That depends on the country you reside in... I assume the UK based on your question.

    Most places you can't. That's the purpose of a deposit.
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
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    #3

    Aug 12, 2011, 05:54 AM

    Hello r:

    When you placed your deposit, you signed an agreement... What does it say?

    excon
    AK lawyer's Avatar
    AK lawyer Posts: 12,592, Reputation: 977
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    #4

    Aug 12, 2011, 09:01 AM
    Quote Originally Posted by smoothy View Post
    ...
    Most places you can't. That's the purpose of a deposit.
    Exactly. It is to make sure the dealer is protected from such things as lost sale opportunity (If someone else wanted to buy the car after you had put down the deposit, they could not have sold it to that other person.), etc.

    What, Rteluk, did you think the deposit was for?
    :rolleyes:
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