Leaving Deposits On Cars
 

Hey just want to see peoples opinions on this issue as ive never been in this situation before. We were discussing this at work just before and had mixed opinons.

if someone leaves you a deposit on car you are selling, while they get their finance/cheque sorted etc, during this time you get calls for the car but tell people its had a deposit received and being sold, an issue comes up with the car that makes the buyer want to walk away, not an issue with the car itself but like a third party issue. The third party issue would be resolved within the next day or so but buyer wont wait, Buyer wants deposit back, do you think its fair to refund it?? or should the seller keep it?

from what ive heard from people and people ive spoke to is that deposits are not usually refunded? unless subjected to an agreement when its handed over, i guess maybe it depends on the situation.

My understanding of a deposit is you have agreed to buy the car, people generally dont leave deposits until they are certain they have the coin for the car,

Fewings id say the cash is yours bud, the buyer shouldnt have left the deposit if they where not 100% sure they where buying the car,You cant go around putting cash on people cars and wasting there time ffs!

Id say MEH and get over it

Keep the deposit i say. The point being that your holding the money because your potentially turning away the people that will actually buy your car

yeh and i explained to they buyer the issue on the car is being resolved over today and should be sorted tomorrow but they dont wanna wait? whats an extra day going to hurt?

Deposits are non-refundable imo. The seller should write a receipt saying that too.

If they were refundable, you could go all over Perth pissing people off dropping deposits on cars and then saying sorry don't want it anymore.

pay back the deposit if you:

1 sold the car to someone else (would be a rude thing to do, but it happens)
2 damaged the car
3 don't want to sell it anymore

A deposit is a promise to buy the car.

yeh, and whats the point of leaving a deposit if your just going to get it back? may as well not leave one at all and just wait til you can bring a cheque for the full amount of the car
like alternate said im also turning away potential buyers, keeping the deposit makes up for the loss of those possible sales.

oh also ive prolly now lost my deposit as i left a deposit on a forrester, i havent asked for it back and i probably wont coz i know ive possibly cost this guy potential sales as well, id feel like an asshole asking for it back, kinda makes me wonder the nerve of this guy asking for his back.

[QUOTE=Köura;386885]pay back the deposit if you:

1 sold the car to someone else (would be a rude thing to do, but it happens)
2 damaged the car
3 don't want to sell it anymore

A deposit is a promise to buy the car.[/QUOTE]

none of that applies to this, a third party issue came up ive told him its currently being resolved, it effects the car in no way, just makes it a day or two later that he can take it really.

Is the issue at the buyer or sellers end ?

If its the sellers end and you have agreed to hand over the car by a certain date(today). yet its not happening till tomorrow then id say the deposit should probably be handed over.

If its the buyers side, tough luck and keep the deposit.

I normally have it all in writing to say so and so has agreed to buy car, with a deposit of $$ with final payment happening on so and so date. Make it as air tight as possible.

Thats normally the time you weed out the time wasters.

[QUOTE=saturation;386888]Is the issue at the buyer or sellers end ?

If its the sellers end and you have agreed to hand over the car by a certain date(today). yet its not happening till tomorrow then id say the deposit should probably be handed over.

If its the buyers side, tough luck and keep the deposit.

I normally have it all in writing to say so and so has agreed to buy car, with a deposit of $$ with final payment happening on so and so date. Make it as air tight as possible.

Thats normally the time you weed out the time wasters.[/QUOTE]


yeah we didnt write naything up on this one

its not at his end but its not really at my end either, we had no date agreed on when the car had to be handed over by. He did not specify when he wanted it or needed it by.