The deposit amount was 400$. Now he says he will not refund my money until the motorcycle sells. This not right in my book.
2006-07-23 09:52:03 · 18 answers · asked by Kristen W 1 in Cars & Transportation ➔ Motorcycles
You have three days to change your mind. If they do not immediately refund your deposit, call the authorities and file a claim. Do it on your cell right in front of them. Bet you get your $ back!
2006-07-23 09:57:07 · answer #1 · answered by hogsrule 2 · 2⤊ 1⤋
If the sale of other goods or services occurs at a fair, a "show" or expo, door-to-door, at a sales "party" at a private home, or anywhere that is not the seller's usual place of business, consumers have a three-business-day "cooling-off period," said David Huey, a senior assistant attorney general in the state's consumer protection division. The Federal Trade Commission's rule exempts arts and crafts and motor vehicles.
A business day is any weekday, but some contracts might specify Saturday as a business day. The 10 federal holidays are not business days. The day the contract was signed does not count.
There are other circumstances in which a consumer could rescind a deal, Huey said, for example, if the buyer was defrauded or deceived. Contracts also can sometimes be rescinded if they were made under duress, undue influence or a mutual mistake.
A variety of state laws protect consumers suffering buyer's remorse. But for the most part, contracts are fairly tight. "There are special provisions, depending on what you purchase," Huey said. The state attorney general's Web site outlines consumers' cancellation rights and points out specific provisions in the Revised Code.
So check with local laws , they differ from state to state....
2006-07-23 10:00:02 · answer #2 · answered by yes w 1 · 0⤊ 0⤋
I work at a motorcycle dealership. If you were at a dealership, and it was a deposit, you are 100% entitled to a refund of your full deposit. If it was from a private party, you are still entitled to your money but a little harder to get if the guy wants to play hardball. Small claims court. In either case if you didnt get a receipt for the money you gave, doesn't sound like you have a chance
2006-07-23 12:42:43 · answer #3 · answered by peardietz 3 · 0⤊ 0⤋
Was this from a dealer or a private party? If this was a private party, and he lost other chances to sell the bike (told people it was sold) he can hold your deposit until the bike sells. If he has additional costs (another advertisement) or ends up selling the bike for less, he can hold you liable for the difference.
You and the seller had a contract. You agreed to buy the bike for a sum of money. He agreed to hold the bike for you, and took it off the market. You paid him $400 that was to be applied to the purchase price.
You had an agreement, and exchanged consideration (items of value).There is a legal contract there. You chose to break the contract. He is not required to return your consideration (the money) because you can not return his (taking the bike off the market and losing other potential buyers).
You should not have given him a deposit if you did not want the bike!
Sorry
2006-07-23 10:03:52 · answer #4 · answered by fire4511 7 · 0⤊ 0⤋
Doesn't sound right to me but you need to know what the fine print of your contract says that you signed. If there is a cooling off period you get your money back. If the place you gave the deposit to positively refuses to give it back now and the contract follows those same lines, then at least you will get the money back some day.
2006-07-23 10:00:59 · answer #5 · answered by Goldenrain 6 · 0⤊ 0⤋
a one hundred% personal loan is the perfect wager... by using the time you've kept up for a deposit of even 5% - the homestead prices have risen previous that so that you will be stuck in a vicious circle. one hundred% bargains are not that undesirable anymore and that i have acquaintances in similar circumstances who went with an entire personal loan and now they're shifting, with the fairness they have made, are waiting to positioned down an stronger deposit. imagine of a one hundred% personal loan as a speedy fix to get on the valuables ladder. i does no longer yet your dream homestead yet more effective of a stopgap so that you may make some money to make investments as a destiny deposit ! - ..
2016-11-25 20:11:22 · answer #6 · answered by svatos 4 · 0⤊ 0⤋
Did you sign any kind of contract before you put down the deposit? Is this a private seller or a business? If it's a business then they should have the policy down in writing somewhere and you have the right to ask to see that policy. If it's a private seller then you will probably have to wait to get your money back. And it might be good not to push the issue or he might sue you for breach of contract, even if it was a verbal one.
2006-07-23 09:57:48 · answer #7 · answered by nimo22 6 · 0⤊ 0⤋
Tough call. It usually depends on the contarct. Check it first.
There is something in by-law called 'Buyers remorse'. If you agree to purchase an item , place a deposit and then change your mind whithin a certain time period, you'r entitled to your money back, no arguments.
I think he is breaking the law. Mention you have spoken to a lawyer, who's checked your contract.
Take it from there
All the best, hope you find a good ride soon
2006-07-23 09:57:44 · answer #8 · answered by TK 3 · 0⤊ 0⤋
There should be a small print on receipt whether the deposit is refundable after cancellation of order. It usually isnt.
2006-07-23 09:56:23 · answer #9 · answered by lonely as a cloud 6 · 0⤊ 0⤋
If it was from a dealership most states have a 3 business day cancellation law. Which means you can back out of the deal.
2006-07-23 09:55:18 · answer #10 · answered by Loo 3 · 0⤊ 0⤋