Anyone cancel order from dealer after placing deposit?

[Carstar]

Asking on behalf of a friend, because he can't post new thread. He recently bought a new car with guarantee coe, but he already place a deposit of 20k and loan approve but coe not secure yet. But suddenly his mil kena cancer. And need the money to cure his mil. He asking is there anyways to get back his deposit. Meaning withdraw his sales.

 

I know it's very hard. But just helping him in any possible way.

[Lsm_83]

Asking on behalf of a friend, because he can't post new thread. He recently bought a new car with guarantee coe, but he already place a deposit of 20k and loan approve but coe not secure yet. But suddenly his mil kena cancer. And need the money to cure his mil. He asking is there anyways to get back his deposit. Meaning withdraw his sales.

 

I know it's very hard. But just helping him in any possible way.

You can try ti nego with the car dealer to maybe forfeit 50% and return the other 50%. Of course must show them proof that her parent got cancer.

 

I believe there will be some dealer will return partial deposit back to the buyer out of empathy.

Edited May 19, 2016 by Lsm_83

[Rubiks]

Anybody can give advise or help?

 

I recently placed my downpayment with a PI for a new car. The loan agreed was agreed upon before i gave the go ahead to bid for the coe, after bidding for the coe i was told the loan was approve and they are handling the registration and everything. but after some dragging they suddenly say loan was not approve because the OMV of the car is above 20k and now loan amt was lesser and i had to fork out more downpayment for the car but i refuse and demanded a full refund. But they refuse and said the COE already bidded under my name.

 

What can i do? or what shld I do? will filing a complaint with CASE help?

 

anybody can help me?

Edited June 26, 2016 by Rubiks

[Kenomi]

If i place a deposit but within 24hr i decided to cancel. Will it be part of the cooling period act?

[Jq1988]

Anybody can give advise or help?

 

I recently placed my downpayment with a PI for a new car. The loan agreed was agreed upon before i gave the go ahead to bid for the coe, after bidding for the coe i was told the loan was approve and they are handling the registration and everything. but after some dragging they suddenly say loan was not approve because the OMV of the car is above 20k and now loan amt was lesser and i had to fork out more downpayment for the car but i refuse and demanded a full refund. But they refuse and said the COE already bidded under my name.

 

What can i do? or what shld I do? will filing a complaint with CASE help?

 

anybody can help me?

 

Tough case, best to go state court to file small claim...or just get further advice.

[Leo72]

Anybody can give advise or help?

 

I recently placed my downpayment with a PI for a new car. The loan agreed was agreed upon before i gave the go ahead to bid for the coe, after bidding for the coe i was told the loan was approve and they are handling the registration and everything. but after some dragging they suddenly say loan was not approve because the OMV of the car is above 20k and now loan amt was lesser and i had to fork out more downpayment for the car but i refuse and demanded a full refund. But they refuse and said the COE already bidded under my name.

 

What can i do? or what shld I do? will filing a complaint with CASE help?

 

anybody can help me?

Your case is my past experience. Also in the same situation with you. Secured the COE, rushing the PI to get the car ready and to register the car. 2 weeks before registering, was told that OMV above 20K due to Japanese yen increase and need to fork out more cash for the downpayment of the car. At the end of the day, I fork out another 10% cash for the downpayment. 

 

For your case, did you check what's the average OMV for the car you're getting before you commit? For me, I know that the car that I'm getting got chance of OMV go above 20K due to the color I chose but I did confirm with the PI before I commit and still kena. Of course at that time, I can chose to wait for another batch of the car and hope that the OMV will go below 20K. but I chose to fork out cash as I don't want to wait.

 

For your case, if there is any chance by changing the color of the car or wait for another batch of car to arrive and the OMV will be below 20K, then maybe change the color or wait lor.. Or get another car with lower OMV. I guess you getting your car from PI right?

 

Even if goes to small claim court, very difficult for you to get back full refund as the loan application form you signed got a clause that specify that in case of OMV goes above 20K, you'll need to fork out additional cash for the downpayment to reduce loan amount. Try to sit down and talk to the dealer / SE to achieve a win-win situation.

 

2 things you need to confirm is that 1, the COE is already secured under your name. 2. Ask them to show you the document that the omv for the car you intend to get is indeed above 20K.

If i place a deposit but within 24hr i decided to cancel. Will it be part of the cooling period act?

yes, can cancel within 7 days cooling period provided that COE hasn't been secure under your name.

Asking on behalf of a friend, because he can't post new thread. He recently bought a new car with guarantee coe, but he already place a deposit of 20k and loan approve but coe not secure yet. But suddenly his mil kena cancer. And need the money to cure his mil. He asking is there anyways to get back his deposit. Meaning withdraw his sales.

 

I know it's very hard. But just helping him in any possible way.

depends on whether he get it from PIs or AD. AD mostly will refund if COE hasn't secured under his name and for some PIs, they'll also refund if COE hasn't been secured under his name as not all ADs and PIs are crook.

[Kenomi]

Your case is my past experience. Also in the same situation with you. Secured the COE, rushing the PI to get the car ready and to register the car. 2 weeks before registering, was told that OMV above 20K due to Japanese yen increase and need to fork out more cash for the downpayment of the car. At the end of the day, I fork out another 10% cash for the downpayment.

 

For your case, did you check what's the average OMV for the car you're getting before you commit? For me, I know that the car that I'm getting got chance of OMV go above 20K due to the color I chose but I did confirm with the PI before I commit and still kena. Of course at that time, I can chose to wait for another batch of the car and hope that the OMV will go below 20K. but I chose to fork out cash as I don't want to wait.

 

For your case, if there is any chance by changing the color of the car or wait for another batch of car to arrive and the OMV will be below 20K, then maybe change the color or wait lor.. Or get another car with lower OMV. I guess you getting your car from PI right?

 

Even if goes to small claim court, very difficult for you to get back full refund as the loan application form you signed got a clause that specify that in case of OMV goes above 20K, you'll need to fork out additional cash for the downpayment to reduce loan amount. Try to sit down and talk to the dealer / SE to achieve a win-win situation.

 

2 things you need to confirm is that 1, the COE is already secured under your name. 2. Ask them to show you the document that the omv for the car you intend to get is indeed above 20K.

 

yes, can cancel within 7 days cooling period provided that COE hasn't been secure under your name.

 

depends on whether he get it from PIs or AD. AD mostly will refund if COE hasn't secured under his name and for some PIs, they'll also refund if COE hasn't been secured under his name as not all ADs and PIs are crook.

It is a resale car. The AD do not allow me to do so. Saying will not return a cent back... Plus is a reputtable AD resale company.

[Leo72]

It is a resale car. The AD do not allow me to do so. Saying will not return a cent back... Plus is a reputtable AD resale company.

Do you know the OMV of the resale car when you put deposit for the car? Did the AD Resale told you the OMV of the car? Also, did the AD Resale work out the loan downpayment and repayment in a piece of paper and give to you? Also, it's within the 7 days period when the Resale AD tell you to put more downpayment? If yes, then you can go to CASE and try whether you can get refund. Chances will be high if you got the piece of paper that contain the loan amount, downpayment and monthly repayment.

[Kenomi]

Do you know the OMV of the resale car when you put deposit for the car? Did the AD Resale told you the OMV of the car? Also, did the AD Resale work out the loan downpayment and repayment in a piece of paper and give to you? Also, it's within the 7 days period when the Resale AD tell you to put more downpayment? If yes, then you can go to CASE and try whether you can get refund. Chances will be high if you got the piece of paper that contain the loan amount, downpayment and monthly repayment.

Yes bro i got that hand written paper by the SE. Not sure whether it will be sufficient. Just met the agent and was told they were sued alot of time on this at case and none had won.

Also the log card of the car

[FoxracingINC82]

Hi guys , need some advise here,

 

deal with a direct buyer 

we both sign off the SG car mart agreement

paid a deposit $1k cheque cross

i deposit the check next day , did settlement on the auto loan

buyer sms in and said wants to back out and said cheque already cancel 

 

can anyone give a advise on how to settle ?

Worst case is i already bought another car :( 

 

Small claim ?

Or the sg car mart terms states if buyer breaks the bond he has to pay double 

Stomp the buyer ?

 

 

[Apple-Tree]

Not sure how is your arrangement.

 

When I deal with a buyer of my previous ride.  Collect 1K deposit.  If I failed to deliver, I need to return 2K lor ....

 

Technically, if monies transaction took place, then the contract become legitimate in force lor .....  

 

Why not you report to SgCarMart and see what they can do for you ?  Maybe you don't even need spend a cent to claim big big lor...

 

 

 

SG Banks are facing a up to 16B default in the next 1 year - Bloomberg.  Getting a loan will become difficult soon.

 

BTW, I think World's Largest and 2nd Largest Ship and Rig Builder happened to in our backyard.

 

Potential Buyer, please try to check whether Bank will actually lend you monies hor.

 

 

 

Hi guys , need some advise here,

 

deal with a direct buyer 

we both sign off the SG car mart agreement

paid a deposit $1k cheque cross

i deposit the check next day , did settlement on the auto loan

buyer sms in and said wants to back out and said cheque already cancel 

 

can anyone give a advise on how to settle ?

Worst case is i already bought another car :( 

 

Small claim ?

Or the sg car mart terms states if buyer breaks the bond he has to pay double 

Stomp the buyer ?

 

Edited November 2, 2016 by Apple-Tree

[Watwheels]

Hi guys , need some advise here,

 

deal with a direct buyer 

we both sign off the SG car mart agreement

paid a deposit $1k cheque cross

i deposit the check next day , did settlement on the auto loan

buyer sms in and said wants to back out and said cheque already cancel 

 

can anyone give a advise on how to settle ?

Worst case is i already bought another car :( 

 

Small claim ?

Or the sg car mart terms states if buyer breaks the bond he has to pay double 

Stomp the buyer ?

 

Right now it's the seller who breached the agreement...it has nothing to do with you having already bought a car.

 

The first issue you would want to solve will be the loan. Question is will there be a penalty if you want to have it cancel. Is the bank willing to let you cancel after you showed them prove it's the seller who breached the agreement?

 

1) If the bank is willing to let it be cancelled. I mean you have lost nothing. Unless you want to go thru the trouble to go small claims and do filing to get your compensation.

 

2) If the bank is unwilling to cancel your loan. What is the penalty? What will be your next step?

 

Maybe you can ask sgcarmart for advise?

 

[Jordanplus]

Right now it's the seller who breached the agreement...it has nothing to do with you having already bought a car.

 

The first issue you would want to solve will be the loan. Question is will there be a penalty if you want to have it cancel. Is the bank willing to let you cancel after you showed them prove it's the seller who breached the agreement?

 

1) If the bank is willing to let it be cancelled. I mean you have lost nothing. Unless you want to go thru the trouble to go small claims and do filing to get your compensation.

 

2) If the bank is unwilling to cancel your loan. What is the penalty? What will be your next step?

 

Maybe you can ask sgcarmart for advise?

 

is the buyer wants to back out the deal not seller.

buyer already cancelled the deposit cheque.

and now seller didn't get a single cent and already bought a new car.

[flashbang]

Next time best to take deposit in cash... 1k also need cheque...

[FoxracingINC82]

Next time best to take deposit in cash... 1k also need cheque...

thanks for the advise guys 

how i know that seller drive mercs S300 

wear yacht master 2 .... $1k still wanna play this kind of low life stun . i called him he also avoid my call

tml i going down to small claims to wack him already , will update here to let others know the outcome .....

[jcchia]

thanks for the advise guys 

how i know that seller drive mercs S300 

wear yacht master 2 .... $1k still wanna play this kind of low life stun . i called him he also avoid my call

tml i going down to small claims to wack him already , will update here to let others know the outcome .....

 

Dun think hes a direct owner, must be dealer or agent.

Give him a good beating ................

[Mkl22]

thanks for the advise guys

how i know that seller drive mercs S300

wear yacht master 2 .... $1k still wanna play this kind of low life stun . i called him he also avoid my call

tml i going down to small claims to wack him already , will update here to let others know the outcome .....

Yes, take a bit of effort to small claims him. Even if nothing might come out of it. At least you tried.

[FoxracingINC82]

Guys , 

 

just to share my case . 

I went through small claim and submitted few letters to the respondent address 

in the end , he turn up and we mediated and end up he paid a lower amount than the deposit hence now case closed already. So hope that this will help others from cases like mine to be more aware !