Can I walk away from the deal?

BIGTINGZ · 11-14-2015, 07:45 AM

Hi,

I ordered a new F82 from my local dealer about 2 months ago.

They took a £500 deposit. I said I would buy it on PCP.

I signed the purchase document but didn't sign any finance docs - this happens on delivery.

If I am happy to lose my deposit, can I walk away from this car without breaking any law?

Kind Regards

Wah · 11-14-2015, 08:11 AM

Might be different in the UK, but over here, you can walk and get your deposit back. You may want to post this in the regional subforum.

PA11L JJ · 11-15-2015, 04:43 AM

Yes you can. You have not signed any finance agreement so you are not fully committed. They will of course try and keep the deposit or charge an admin fee but stick to your guns and demand it back.

V3rbatim · 11-15-2015, 06:33 AM

you can get the deposit back.

Kal101 · 11-19-2015, 03:45 PM

Depends on the paperwork

If you've signed a contract check the small print - often printed on the back.

Can give the dealer the right to claim for any loss of profit from you.

More of an issue if you've specced up weird and wonderful stuff eg custom poo brown paintwork or the dealer thinks it's quicker to auction off car and subsequently claim the difference off you.

Finance agreement is totally separate to sales contract

New_m3 · 12-06-2015, 01:32 PM

Yes, I walked away from a new sales order a while ago.

Your not breaking the law, however I did loose the deposit.

11-14-2015, 07:45 AM	#1
BIGTINGZ Registered 1 Rep 1 Posts Drives: BMW Join Date: Aug 2015 Location: London iTrader: (0)	Can I walk away from the deal? Hi, I ordered a new F82 from my local dealer about 2 months ago. They took a £500 deposit. I said I would buy it on PCP. I signed the purchase document but didn't sign any finance docs - this happens on delivery. If I am happy to lose my deposit, can I walk away from this car without breaking any law? Kind Regards
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11-14-2015, 08:11 AM	#2
Wah IG@i.am.wah 2779 Rep 3,815 Posts Drives: M2 CS Join Date: Jul 2009 Location: NJ iTrader: (4) Garage List 2022 Tesla Model Y ... [0.00] 1974 BMW 2002 [0.00] 2020 BMW M2 CS [0.00]	Might be different in the UK, but over here, you can walk and get your deposit back. You may want to post this in the regional subforum.
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11-15-2015, 04:43 AM	#3
PA11L JJ Second Lieutenant 55 Rep 212 Posts Drives: F30 335d LCI M Sport Join Date: Jun 2013 Location: Co Durham iTrader: (0)	Yes you can. You have not signed any finance agreement so you are not fully committed. They will of course try and keep the deposit or charge an admin fee but stick to your guns and demand it back. __________________ Current: F30 335d Gone: F56 Mini JCW - F80 M3 - F20 M135i - E89 Z4 - F30 335d - E92 M3 - E81 118d - Audi Q7 - E90 335d - VW Scirocco 2.0GT - And a few bangers not worth mentioning.
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11-15-2015, 06:33 AM	#4
V3rbatim Captain 164 Rep 534 Posts Drives: 2016 m3 Join Date: Jun 2015 Location: NJ iTrader: (0)	you can get the deposit back. __________________ 2016 m3 2012 yamaha r1
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11-19-2015, 03:45 PM	#5
Kal101 Major General 3105 Rep 7,031 Posts Drives: 335xd Msport + Join Date: Jan 2014 Location: West mids!!!! iTrader: (0) Garage List 2015 Bmw msport + 3 ... [0.00]	Depends on the paperwork If you've signed a contract check the small print - often printed on the back. Can give the dealer the right to claim for any loss of profit from you. More of an issue if you've specced up weird and wonderful stuff eg custom poo brown paintwork or the dealer thinks it's quicker to auction off car and subsequently claim the difference off you. Finance agreement is totally separate to sales contract __________________
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12-06-2015, 01:32 PM	#6
New_m3 Second Lieutenant 20 Rep 246 Posts Drives: E92 M3 Join Date: Jun 2008 Location: UK iTrader: (0)	Yes, I walked away from a new sales order a while ago. Your not breaking the law, however I did loose the deposit.
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