In the real world, it is typically stipulated as refundable or non refundable. Assumptions are dangerous things to make.
sale fell through on the LCR- would you give the deposit back?
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In the real world, it is typically stipulated as refundable or non refundable. Assumptions are dangerous things to make.
Soldato
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Didnt you know, this is OCUK motors, only meat heads post in here.
Your the one coming across as Barry big balls.I think you are getting mixed up between acting tough and knowing what the purpose of a deposit is.
Lets face it the reason he can't go through with the sale (so he claims) is that he can't afford the insurance. What kind of a genius agrees to buy a car without knowing if they can afford to keep the thing on the road?!
No, not pointless, it holds an item for an individual, that is a potential point of a refundable deposit.
Because the guy saying that it hadn't been written off isn't the same as an HPI certificate saying that it hadn't been written off.
I would have course have asked for my deposit back but at the time I knew it was a gamble and decided to make a judgement call. The car was a bit of a trip away and travel cost plus the value of my time meant that the £100 was worth the (minimal) risk.
Anyway, I'm surprised how many people don't get the concept of a deposit (as has been highlighted by this thread) and that people "wouldn't just walk away" after not understanding the concept so it has been quite useful for me. In future I'll get them to sign that they are paying a non refundable deposit in return for me removing the car from sale. The value of which will be deducted from the agreed amount of £####
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Man of Honour
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For what purpose?
I think you are getting mixed up between acting tough and knowing what the purpose of a deposit is.
Lets face it the reason he can't go through with the sale (so he claims) is that he can't afford the insurance. What kind of a genius agrees to buy a car without knowing if they can afford to keep the thing on the road?!
I'm sorry, I didn't mean to sound like that.
I just meant that if I couldn't get my £250 back I'd not just let it go - although I'd clealy feel an ass for getting in that situation in the first place. SO, if I had taken the £250 and was thinking about not giving it back then I'd have to expect that it wouldn't just end with me telling him to get off my property and slamming the door in his face.
I'm just being honest by admitting I'd not want the grief. Rather than "yeah knickers to 'im, deserves it tha mug!"
As for the insurance thing - well yes, the buyer was clearly not the sharpest tool in the box.
I wish!
So the owner holds the car incase they get other interested parties.
It's hardly rocket science to take a mobile number of potential buyers and give them a call if the 1st buyer can't complete.
But how could you just not let it go? Take it to court? Smash his windows in? Send the boys round?I'm sorry, I didn't mean to sound like that.
I just meant that if I couldn't get my £250 back I'd not just let it go - although I'd clealy feel an ass for getting in that situation in the first place. SO, if I had taken the £250 and was thinking about not giving it back then I'd have to expect that it wouldn't just end with me telling him to get off my property and slamming the door in his face.
I'm just being honest by admitting I'd not want the grief. Rather than "yeah knickers to 'im, deserves it tha mug!"
As for the insurance thing - well yes, the buyer was clearly not the sharpest tool in the box.
As I've already admitted I would probably just give the money back but not because it is the right thing to do, simply because I can't be bothered with dealing with thugs. IMHO Foxtrot has done the right thing from a hassle point of view. I kind of assumed that people knew what a deposit was for but it appears not therefore if I sell a car privately again (and this thread reminds me why that is a PITA I probably can do without) I'll get them to sign what they are agreeing to. No likey? Well they can buy another car!
Cars of this type/price attract to many dreamers. When I'm selling anything group 15~ and over the first question I ask, is have you got a quote for insurance? If the buyer still wants to pay a deposit (£100~) to secure the car, I make it very clear they will not be refunded if they pull out.
What would you do?
As for your 2nd para I agree completely. If both parties are aware that the deposit is non-refundable then there should be problem if the buyer can't complete.
Although waving a signed bit of paper in front of his face as you tell him to get off your property and slam the door in his face is again, unlikely to be the end of it.
![[TW]Fox](/data/man-of-honor/2009.png){kind=avatar}
I'm sorry but your position is completely nonsensical.
A deposit does indeed have the purpose of holding the car. This means the seller receives a sum of money as a GUARANTEE - ie, the buyer will purchase the car, therefore please reject any further interest from other buyers.
The guarantee is simple - either the buyer purchases the car for an agreed sum less the deposit, or if he doesn't complete, the seller retains the deposit.
Anything else is completely illogical and you may as well not take a deposit. What possible reason is there for a seller to accept a deopsit if its totally refundable? It acts as no guarantee against time wasting at all.
Why accept a deposit if its refundable? Why not just say 'It's sold when you pay in full?'
As I've already mentioned the only case where I would ask for the money back is if the seller had lied and the car turns out to be written off etc. last time round I took a gamble on my gut instinct as the guy was as honest as the day is long.
Even then if they said no, well... then the answer is no. End of.
I'm not the sort of person who would resort to criminal acts, especially not for a few hundred quid.
I have never refunded even part of a deposit, i am totally with Fox and Lucero etc. There is no reason to even consider this, nor consider that this should create any issue at all. A deposit is a deposit, there are no morals to consider. The reason for leaving a deposit and the meaning of the term is very clear.
[TW]Fox;19836795 said:
Read my posts - I've given a reason.
Fair enough.