Put $500 downpayment, want to cancel but told got the COE

[D3badge]

Need some advise

A friend put $500 downpayment, now want to cancel

but told he got the COE. If he insist to cancel possible.

Only the $500 downpaymen forfited right?

 

$500 only for downpayment?? from PI?? wow than your friend got balls too, market good PI already play punk happy happy close shop.....

 

now credit crunch think most PI credit also tighten still dare to go PI think PI got a deal liao wont let case go so easy.

 

my personal opinion la can be wrong........ but risk is high especially now CREDIT CRUNCH!!!!!!

[Altis183]

Just to share my views on this, I used to be in PI company.

 

Besides the deposit and 10k at LTA for bidding, chances are your friend will be paying more than that.

In most contracts, the amount to be paid after cancel the deal will be something around $3k ( I might be wrong though). That is to cover the lost of profit. So please get your friend to take a look at the contract he had signed.

 

Like many others had said, they will not be happy to just walk away with $500 as deposit.

They can claim many other forms of charges since you choose to forsake the deal when you changed yoour mind in not buying.

 

Just a question, is it worth it to lose that kind of $$$ to get the 2nd hand car now?

You wil have to pay and own the COE and must register a car with that, so why not just continued with the deal?

 

I am just giving my thoughts please do not take it too hard.

No offence to any one here.

 

Cheers

[Route88]

Like many others had said, they will not be happy to just walk away with $500 as deposit.

They can claim many other forms of charges since you choose to forsake the deal when you changed yoour mind in not buying.

 

 

 

True