RE: TVR taking deposits for its new car

[buell man]

Dr Interceptor said:

Deposits will of course be refundable... until the day the liquidators letter lands on your doormat.

I hate being negative - I just think this is too early to be parting with any cash. I'd love to take a punt on one though!

Cant see the problem put it on a Visa card and you will be protected!

[Ozzie Osmond]

buell man said:

Cant see the problem put it on a Visa card and you will be protected!

Yes, that's what I do with any payments on a car before delivery.

[Blown2CV]

Ozzie Osmond said:

buell man said:

Cant see the problem put it on a Visa card and you will be protected!

Yes, that's what I do with any payments on a car before delivery.

is that really how it works though... you'd only lose your deposit if you either decide you don't want the car and welch before the delivery date, or if the company goes pop (lets not go into a debate about likelihood again there though please). In the former you aren't owed a refund and you can't legitimately say the goods never arrived (as is distance selling requirement to invoke CC refund) and in the latter there will be no way they CC company can recoup their costs, and the selling company won't exist any more at that point so you may be whistling there too...

[Ozzie Osmond]

Blown2CV said:

is that really how it works though... if the company goes pop .... there will be no way they CC company can recoup their costs, and the selling company won't exist any more at that point so you may be whistling there too...

Check out the rules. The risk lies with the credit card company, NOT with the card user. So if the car seller fails to deliver the car you can claim back the deposit from the credit card company.

You should always buy future things on a credit card if possible. For instance flights, holidays .... and cars!

[Blown2CV]

Ozzie Osmond said:

Blown2CV said:

is that really how it works though... if the company goes pop .... there will be no way they CC company can recoup their costs, and the selling company won't exist any more at that point so you may be whistling there too...

Check out the rules. The risk lies with the credit card company, NOT with the card user. So if the car seller fails to deliver the car you can claim back the deposit from the credit card company.

You should always buy future things on a credit card if possible. For instance flights, holidays .... and cars!

fair enough. I thought it was only if they failed to deliver though, not if you got scared or they went bust. I always do buy things like that on credit card though, but only because i am the type of scum who can't afford a deposit on a new TVR!

[Ozzie Osmond]

Blown2CV said:

if you got scared

No

Blown2CV said:

or they went bust.

Yes

Think of it like this. When you make a purchase on a credit card you actually buy the goods from the credit card company, not the shop. Then it all falls logically into place.