Refund of car deposit if dealer hides the details

[nmm]

Hi,

 

A car dealer miss-sold a car loan to me, hides the details of the loan and didn't handed over the copy of contract to me. He charged me very very high interest that i realized when i did some calculations at home after I left the dealer premises. Very next day i went back and asked them to cancel the order and related loan, first they refused to cancel as i already signed the documents but I insisted that its my legal right and I was not given the full information about the loan. After a long discussion they finally agreed to cancel the loan but didn't refunded my deposit and told me that i can buy some other car and my deposit will be transferred to that car. I wrote them a letter asking to refund my deposit but they didn't replied. After waiting for 2 weeks i sent them an email but got no response. Now my questions are:

 

 

 

1. Am I bound to purchase some other car from them?

 

2. What are my legal rights to refund deposit when they hides the loan details.

3. What is the procedure to complain? with whom and how?

 

 

Thanks a lot.

[buzby]

The deposit isn't dependent on your getting the vehicle - you pulled out of the sale, and didn't take the option to purchase. Therefore, they are taking the reasonable route in allowing you to use the deposit for another vehicle - but then, the same situation may well arise.

 

The time to pay a deposit is AFTER everything is confirmed and to your agreement, as you effectively changed your mind (for a valid reason, nevertheless) if it involves you walking away from your agreement, then the deposit is the first casualty.

 

In answer to your queries;

1) No, you are not bound - but you'll lose the money you already paid.

2) How can he 'hide' loan details when you sign the form? If you mean you weren;t aware of the terms of the agreement at the time, then the burden falls on you to prove there was any omission on the dealers part

3) You can complain to ~Trading Standards so he's given a few stern letters, but that's about as far as it will go.

[Conniff]

Not only is the paying of a deposit a contract, the then failure to continue with the purchase could leave you open to being sued for compensation as well as loss of the deposit.

[nmm]

Thanks,

But i don't understand if we purchase a 1£ item from store and later we don't like it we have legal rights to return it withing 28 days, similarly if we go into contract with a mobile company we can change our mind and cancel the contract within 30 days.

Why the same cannot be applied in this type of contract?

[patdavies]

Thanks,

But i don't understand if we purchase a 1£ item from store and later we don't like it we have legal rights to return it withing 28 days,

 

This is simply not true.

 

Your whole argument is based on a false premise.

 

A particular trader may offer such a deal for a period, but there is absolutely no legal right to simply change your mind (except for distance selling)

[JAM74]

Can somebody help me. similar had happened to me recently.

 

It was my first experience to any car finance dealer. I feel of being fooled by them. A copy of the agreement was not provided to me. while i was told that i have to pay the deposit straight away. as you may agree, nobody can read those Terms and Conditions small print within minutes. later a friend of mine told me that he didnt pay any deposit straight away to the same dealer. when i reached home, i realized i was NOT provided the required paper work. only rough interest calculations...which when i calculated was very misleading to what i was told. i went back next day and told them that it is unfair. they said nothing could be done. and i am not even allowed to cancel the contract. while another person at their office told me minutes before that my paper work was untouched and still on the table. after a while the manager came and said ok, the deal will be cancelled completely and i can go home. i was relaxed but 2-3 days later i found out that they have deducted the Deposit from my account. i phoned them, wrote them letter, emailed them But NO ONE had the courtesy to at least answer me of what is going on...i am too much frustrated. i need to know what can i do. Please somebody guide me? Thanks