Bike dealers and deposits..

[TheArchitect]

I recently put a deposit down on a bike and am currently waiting on insurance to pay out before I can pay the balance and pick up the bike.

Spoke to the dealer yesterday and he's saying if I don't pick up the bike by saturday he will put it up for sale again and I will lose my deposit.

When I paid the deposit I made my situation clear to them and they said it should be fine and to keep them updated with regard to the insurance etc, which I have been doing. Granted it's been over 2 months since I paid the deposit but to be fair the situation with the insurance is out of my hands to some extent.

Is the dealer allowed to keep my deposit like this? He's claiming it's to cover the storage of the bike and that the bike is taking up space in his shop, space which could have been occupied by a bike that's for sale. Do I have any grounds to demand my deposit back if it came to that?
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GSXR 600 K6 - Stolen
GSXR 600 K6 - Stolen
MT09 - Almost stolen

[Skudd]

I would ask what a reasonable time was and how much deposit was put down. Two months is a long time for a bike shop, not for insurance. I wouldn't have rushed out putting deposits on anything until I had money in my hands anyway.

How much is the bike?
How much deposit did you put down?
Average of £5 per day storage 0r £30 per week.
Do the maths.

Sounds like a reasonable shop is feeling that it has been taken advantage of and you are stretching good will a bit far.
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Famous last words of Humpty Dumpty. " Stop pushing me "
Petty Anarchists look at "1984".............. The Visionary looks at "Animal Farm".

[TheArchitect]

Bike's worth 4.7K and I put down 200.

I see your point and agree somewhat. But, when I put the deposit down I had already had in writing from the TP insurance that they have decided to give me payment without prejudice and the payment will take 14 days to process. A week after that I paid the deposit on the bike safe in the knowledge that the money was coming through.

Shortly after that I was notified that TP driver is denying all knowledge of the incident and so I am where I am with a dragged out case.

Now I have no intention of messing around the dealership. The guy I dealt with is very friendly and has been extremely understanding so far. But I disagree with their reasoning in saying they are losing revenue by storing the bike for me. Sounds a bit far fetched for a main dealer with ample parking and storage facilities. I even offered to increase my deposit by 1k to show that I'm not messing around and I'm committed to buying the bike, it's just that I'm being messed around by TP insurance and can't really control the course of action.

Anyhow, back to the question. Can they rightly keep my deposit even if it is them breaking off the deal and can I demand the deposit back?
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GSXR 600 K6 - Stolen
GSXR 600 K6 - Stolen
MT09 - Almost stolen

[Skudd]

[TheArchitect]

[Rogerborg]

Sorry to be brusque, I know you're the victim here, but look at it from the dealer's point of view.

They've got £4,700 of their money tied up in that bike doing nothing. They're in the business of selling bikes, not storing them, and they've got no reasonable basis for believing that you'll ever be able to pay them for it.

If you agreed to pay within 10 days, they you broke the deal, not them. After that, it's Here Be Dragons. Perhaps they should have moved sooner. At that point they might have given you back the deposit and sold the bike elsewhere, but it sounds rather like you've been telling them to keep it, which (whether you realised it or not) was at their cost.

[DieselASFC]

[monkeybiker]

Like has been said, if they set a time limit for the deposit then they are being reasonable.

[TheArchitect]

The reasonable and gentlemanly side of me completely agrees with the sentiments here. I guess I'm just fed up with the whole insurance issue and basically bitter that my plans have been ruined.

Hey ho, it's only £200, I'm more annoyed about potentially losing the bike because I still think it was a great buy.

Due to speak to the dealership again on Saturday, will see what they say. If nothing else, I'll see if they'll accept a top up on the deposit and £100 on top of final price to cover the storage. They are nice guys so it's only fair it seems.
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GSXR 600 K6 - Stolen
GSXR 600 K6 - Stolen
MT09 - Almost stolen

[TheArchitect]

[Rogerborg]

Jaysus, the costs of that rent-a-bike.

[iooi]

A couple of options.....

Get a loan to pay for the bike or finance at the dealer and then pay that back as soon as you get the payout.

Or

Walk away and lose £200.
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Just because my bike was A DIVVY, does not mean i am......

[waffles]

[Commuter_Tim]

[Supermoto_Fan]

2 months is quite a long time for a dealer I guess, especially if they have received other interest.

Dealer was more than happy for me to leave a £200 deposit on a 6k bike and make payment in 2 weeks time although that is alot less than 2 months
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Yamaha MT-09 - Triple powerrrr

[McJamweasel]

Depending on the bike it could well have lost more than that £200 in depreciation over the 2 months that it's been off-sale.

Speak to them tomorrow and make another payment, that will more than likely keep them sweet until you've been paid out. However - make sure that you come to some agreement about how much longer the additional deposit would secure the bike for - and make sure that you sort something out BEFORE that time runs out.
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BCF: Be yourself, just don't be an arse.

[0l0dom0l0]

Sorry mate £200 deposit on a 4.7k bike that's been holding it for 2 months? If I was the dealer I'd have put it up for sale after 2 weeks!

Think you're just gunna have to put this one down to experience.
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CBT Passed: 30/08/2009, Theory Passed: 31/08/2010, Mod 1 Passed: 6/9/2010, Mod 2 Passed: 13/09/2010. Restriction ended 13/09/2012.

Bikes: 2007 Derbi GPR 50, 1998 Yamaha Fazer 600 (written off), 2002 Yamaha Fazer 600, 1994 CBR 600F, 2003 Triumph Daytona 600, Kawasaki ZX6R J1.....Current: 2006 Yamaha FZ6, 1998 Suzuki TL1000R and a Honda VFR 400 NC30.

[blueglue]

I worked at a car dealership for eight months and two months is just too long. At least we could store cars with deposits in a small compound out the back but even that filled up quickly. Bikes on the other hand are taking up space indoors which will be hurting their business.

bear in mind they need to make space for all of the new 15 plate registration bikes that will be turning up for march. People picking new bikes up will be part exchanging their old ones. Its the circle of life.

https://disney-sheet-music.com/wp-content/uploads/2014/06/circle_of_life_simba.jpg

Salesman "JUST TAKE THE GOD DAMN BIKE PLS!"

[Ste]

[J4mes]

Increasing the deposit makes no odds, your bike is taking up profit space where they could be putting other bikes for sale.

I'm amazed they're not charging you a storage fee.

Get a loan sorted and go and pay them ffs

[Ste]

To charge a storage fee would suggest that they store bikes.

[J4mes]

[monkeybiker]

I think really you should just leave the deal and wait until you get the insurance money sorted. There will always be other bikes. Either that or get a bike loan and buy the bike now.

[P.addy]

Best bet would be to loan it and pay off ASAP with payout.

[Northern Monkey]