Sold a car for $35k on Friday , man gave me $2k deposit and would take delivery tomorrow , told another buyer sorry , its sold , buyer rings me now and cancels because of "family circumstances". Do I give him back his $2k !
twink19,
Dec 18, 2:33pm
buyers remorse,contact the other buyer, if you can sell it give his money back
intrade,
Dec 18, 2:34pm
you take 100$ off it for your troubles and give him the rest back and relist it again. Thats what i would do anyhow.
owene,
Dec 18, 2:36pm
Agreed. You can legally keep "fair costs" which means that you need to quantify your loss. Time, relisting fee etc. You can't include "lost opportunity costs" as some would have you believe.
amberjandal,
Dec 18, 2:58pm
Thanks , thats 3 views much the same - any one else !
m16d,
Dec 18, 3:21pm
If you bought a car from a dealer and did that, I doubt you'd get the deposit back. Just tell him you've already spent the money on christmas presents for the kids,and if the car sells for the same price, you'll think about giving the deposit back. He's never going to know if you sell it or not.
rovercitroen,
Dec 18, 3:45pm
Keep the deposit. If he's changed his mind, tough.
msigg,
Dec 18, 3:59pm
give him half back and tell him you lost a buyer because of his deposit. Which is all true.See how that goes. Tell him you will talk to your lawyer if not acceptable.
carstauranga001,
Dec 18, 4:07pm
I have had two similar cases in the last couple of months. Realy annoys me that the buyer can just change their mind whilst we "hold" the car. However I gave full refunds of deposits as it isn't worth the grief not to. I also ask them what they would've thought if I changed my mind or sold to another customer! They recon that's different for some reason.
In reality nothing is sold untill delivered and payed in full.
sw20,
Dec 18, 4:11pm
Family circumstances = wife is going to divorce him if he brought a new car home.
carstauranga001,
Dec 18, 4:14pm
Mates wife said that about a motorbike, still there about 12 years later.
amberjandal,
Dec 18, 4:15pm
Evening out.might keep it now :-)
wrxnz1,
Dec 18, 4:48pm
in the end it comes down tohow good of a person you are i sapose
things change and shit happens and when it does its good when someone can give u a brake
bwg11,
Dec 18, 4:57pm
Just remeber "Buyers are liers". If you are in bussines and retain a deposit which it is your right to do, you will come in on Monday and find the mongrels have keyed every car on the yard. Give the deposit back because they have you by the short and curleys.
mike77,
Dec 18, 5:01pm
If you got a 2k deposit, I guessing you wrote up a contract!
I would keep it until sold, and if sold for less than the price you contracted with the first guy, keep enough of his deposit to make up the difference and refund the rest.
Thats what I'ld do, especially as you have turned down another buyer, and you don't know much his mucking around has cost you until you sell the car.
shakespeare6,
Dec 18, 5:09pm
wha wha give him his money back sell to some one else , risk you take. i very much doubt legally with out correct contract you could just keep it . Why would you! I never take deposits on a car sold a couple of mine just recent i tell any one offering a deposit -no first in with all the cash takes it. Can't be bothered with all the crap .
wasser61,
Dec 18, 5:25pm
For those suggesting that he keeps the deposit, note that under contractual law he legally can only keep the equivalent of any costs incurred , which would include his time. So therefore I would take out $200 or $300 and return the the rest.
bitsy_boffin,
Dec 18, 5:26pm
Give it back and forget about it.
Just remember next time though, it's all the money and they get the car or none of the money and they take their chances.
bitsy_boffin,
Dec 18, 5:30pm
While giving it back is still the easiest option, it's worth considering thatthe OP turned away a buyer because he had "sold" the vehicle, the loss of a sale can have a monetary consequence.
There would be at least a reasonable argument along those lines that could be made at the DT, I can't quote cases but I'm certain I've heard of awards being made to that cause.
gabbysnana,
Dec 18, 5:33pm
under contract LAw you request specific performance of the contract, if he doesnt go thru with it you can force him to, you get to keep the deposit but the law says that you must mitigate your situation, that is on sell the car and take your losses or costs from the deposit. So keep the deposit until you have sold the car. if you lose more than $2K then you can take him to the DT for the difference.
owene,
Dec 18, 6:20pm
Absolutely correct. See #4.
tgray,
Dec 18, 7:43pm
If taking a deposit, it is always a good idea to discuss whether it is 'non refundable' or not. if no discussion was made, you can't keep it. I understand you are inconvenienced, but not by $2000!
hijacka,
Dec 18, 8:41pm
Unless you stated ''non refundable deposit'' Give the money back cos at the end of the day whats a couple of hundred!, But if you do decide to keep $200 you might aswell keep the 2g because either way he will be pissy about it and you'll end up sleeping with 1 eye open ;)
icemans1,
Dec 18, 8:46pm
NO. a deposit is made to ensure the car is not sold - keep it. did you give a receipt for the deposit!
hijacka,
Dec 18, 8:53pm
How about, Sorry it was my understanding you wanted the car as per deposit insured the sale.unfortunatley I suffer from a gambling addiction and have spent the 2g in the weekend, but i am willing to pay the money back $5 per week.
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