Deposit Non Refundable when Finance Quote Changes?

Deposit Non Refundable when Finance Quote Changes?

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anonymous-user

Original Poster:

69 months

Tuesday 17th January 2017
quotequote all
Hi all,

SWMBO was looking at buying a new A Class on PCP, for which we were quoted £480pcm with GAP. We paid £1000 non refundable deposit to secure the car so that the dealer could reserve it and arrange delivery. I've just had a call saying that theyve had to use a different finance company because MB finance declined me, and the payments have now increased to £512pcm.

£480 was about as much as we could afford and I expect that when she gets home SWMBO will not want to go through with the new payment. I was just wondering that when I call the dealer tomorrow and say no, if I'll be able to get the £1000 back considering it was paid on the basis that the finance was £480. I appreciate why the deposit was non refundable (the car now belongs to them and they will have to try and sell it) but since the finance quote changed does that make it refundable?

TooMany2cvs

29,008 posts

141 months

Tuesday 17th January 2017
quotequote all
Jbeale96 said:
SWMBO was looking at buying a new A Class on PCP, for which we were quoted £480pcm with GAP. We paid £1000 non refundable deposit to secure the car so that the dealer could reserve it and arrange delivery. I've just had a call saying that theyve had to use a different finance company because MB finance declined me, and the payments have now increased to £512pcm.

£480 was about as much as we could afford and I expect that when she gets home SWMBO will not want to go through with the new payment. I was just wondering that when I call the dealer tomorrow and say no, if I'll be able to get the £1000 back considering it was paid on the basis that the finance was £480. I appreciate why the deposit was non refundable (the car now belongs to them and they will have to try and sell it) but since the finance quote changed does that make it refundable?
Hold your contract up a bit, would you? I can't quite read what the Ts & Cs say from here.

anonymous-user

Original Poster:

69 months

Tuesday 17th January 2017
quotequote all
Ahh, she must have signed the order form while I was in the bathroom because I didn't see this bit. It says:

7.5 If after the date of the order and before delivery of the Goods to the Customer, the manufacturer's or concessionaire's recommended price for any of the Goods, or specification of the same shall be altered, the Dealer shall give notice of any such alteration to the Customer, and

7.5.1 in the event of the manufacturer's or concessionaire's recommended price for the Goods being increased, the amount of such increase which the Dealer intends to pass to the Customer shall be notified to the Customer. The Customer shall have the right to cancel the contract within 14 days of the receipt of such notice. If the customer does not give such notice as aforesaid, the increase in the price shall be added to become part of the contract price.


Technically the finance quote is not the recommended price so I don't know if we'll have a leg to stand on here...I didn't realised she'd signed anything!!

Ziplobb

1,451 posts

299 months

Tuesday 17th January 2017
quotequote all
Would you really cancel for £28 per month ? It's just over 5% of what you were going to pay anyway - put it another way was £480 actually affordable ? If it was a 3 year term then it will cost you less to pay the extra than it will to loose a grand.

Sheepshanks

37,257 posts

134 months

Tuesday 17th January 2017
quotequote all
Jbeale96 said:
Ahh, she must have signed the order form while I was in the bathroom because I didn't see this bit. It says:
Is there also a clause in there that would allow the dealer to cancel for pretty well any reason?

Dealers will huff and puff but most won't keep the deposit if push comes to shove. In your case the deal has changed so it would be pretty unreasonable for them to try and enforce it.

Did you have any reason to suspect finance might be declined? If you did then you ought to have made acceptance a condition.

TooMany2cvs

29,008 posts

141 months

Tuesday 17th January 2017
quotequote all
Jbeale96 said:
Ahh, she must have signed the order form while I was in the bathroom because I didn't see this bit. It says:

7.5 If after the date of the order and before delivery of the Goods to the Customer, the manufacturer's or concessionaire's recommended price for any of the Goods, or specification of the same shall be altered, the Dealer shall give notice of any such alteration to the Customer, and

7.5.1 in the event of the manufacturer's or concessionaire's recommended price for the Goods being increased, the amount of such increase which the Dealer intends to pass to the Customer shall be notified to the Customer. The Customer shall have the right to cancel the contract within 14 days of the receipt of such notice. If the customer does not give such notice as aforesaid, the increase in the price shall be added to become part of the contract price.

Technically the finance quote is not the recommended price so I don't know if we'll have a leg to stand on here...I didn't realised she'd signed anything!!
The "manufacturer's or concessionaire's recommended price" is Merc UK's list price. That's not what's changed.

wemorgan

3,583 posts

193 months

Tuesday 17th January 2017
quotequote all
£480 is a lot for an A-class.
What model is it?
Is the spec high or your annual mileage allowance very large?

Check out the PCH deals

http://www.contracthireandleasing.com/

£350 with £1050 deposit gets a nice spec.