Car deposit

[fruitsalad]

Are you within your rights to keep a deposit if the person decides 2 days later that it will cost them to much money to insure the car and so cannot go through with the sale?

[EcclesCake]

Legally yes. The problem is theirs not yours. They knew the make, model, etc of the car and had ample opportunity to check out the insurance aspects prior to handing over their payment.

[cathfromsaron]

yes, the deposit was for holding the car pending full payment!!!!!

but if they know where you live and are hard looking ...

cath x

[fruitsalad]

Thing is Eccles he did phone me Later on the same day as he had viewed and paid the deposit to say that if I had anybody ring for the car and they wanted it to let it go then the next day I had a call to say he thought he had managed to sort out the insurance now today he phoned again to say no insurance is to high and can he collect his deposit later on this week

[joko]

yes, you can...
a deposit is worthless if the person can just back out and have it back as they please! why bother with one? why did he bother paying one if he was then going to say sell it if someone else comes along?

thats the point of a deposit - it is part payment to ensure no-one else comes along and buys it first...you dont get it back.

[snags]

Bit daft to find out the insurance is too steep 'after' putting down a deposit on a car.

If I was in his situation I'd expect to lose my deposit and I would think anyone else would expect the same.

[fruitsalad]

It was after he got home and started looking for insurance quotes that he phoned as said I don't think I will be able to go ahead with the sale because of the high insurance so if any one else shows interest let them buy it

[EcclesCake]

The buyer is a daft muppet. Legally they don't have a leg to stand on AFAIK. I don't know the full circumstances but if it was a teenage kid doing the buying on their own and I was not overly concerned about the money I might let them off with stern warning about checking into the legal side of deposits!

[fruitsalad]

He wasn't a youngster 30's I would say the reason for the high insurance apparantly is because he has only held his uk license for 10 months but his foreign licence not sure where he is from for 10 years and insurance companies will only go by the time held on the uk licence

[snags]

^ All that is irrelevant. He should have checked all that out prior to viewing and putting down a deposit. Tell him to sling his hook.

[granny grump]

Don't you have to repay the deposit if you manage to sell the car to someone else - less any additional expenses or deduction if you have to sell it for less

[EcclesCake]

Legally he is stuffed. As a softy, if I had a high level of confidence in being able to sell the car I might hand back the deposit. I'd give the naive muppet a stern talking to, making them fully aware that it is a goodwill gesture, and get on with selling the car again.

It's your call.

[Everhelpful]

If it was me I would give him his Deposit back and explain the legalities of Deposits,otherwise I couldn't sleep in my bed at night. But that's only my opinion.

[fruitsalad]

I am a bit of a softy Eccles but not overly confident I will sell the car quickly as its a convertible (maybe in the summer) I will stand more of a chance. But at the same time if I am within my rights in keeping the deposit it's about time I stood up for myself, and like snags said tell him to sling his hook

[EcclesCake]

Kowing what you can do, should do and will do are such very different things ;-)

As long as you sleep easy with whatever you decide is what matters.

[fruitsalad]

Due to the inconvience of having to re advertise it and then waiting in for the viewers to show up and being messed about by him having the car then he's not then he is and now he's not again will keep deposit and try my best to sleep easy at night

[sherrardk]

How much is the deposit?

[fruitsalad]

£200

[EDDIE51]

Keep the deposit if it's only £200 , he has messed you around enough to justify it. He should have had the sense to realise that convertibles are regarded as high risk for insurance.
Seriously though you will get a much better price in the summer when there is warm weather to drive with the top down.

[fruitsalad]

Thing is Eddie I will probably want to keep the car if it hasnt sold by then what with the warm weather and that lol

[sherrardk]

I admire your optimism - 'warm weather'!