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VIC Bike deposit and obligations (dealership)

Discussion in 'Politics, Laws, Government & Insurance' started by Freeform, Jul 10, 2011.

  1. I went to look at a new bike yesterday and was rushed into a sale (my stupidity).

    I am curious as to the legalities behind this situation:

    I agree'd to purchase a particular bike at the offered price, I had an older licence on me with an older address so they couldn't complete the registration process.

    I then proceeded to pay $500 out of the total for the bike.

    I have a printed invoice showing the amount paid and owing, also stating at the top "security deposit for bike ordered - contract for purchase of a vehicle"
    However I didn't sign anything.

    If for some reason I wanted to back out of the purchase what are my options and where do I stand?
    Is there a cool off period or something?
    Am I legally bound to pay the full price of the bike?

    Please let me know if you are knowledgable about situations such as this.

  2. google is your friend....
    Cooling-off periods apply to new and used cars bought from licensed motor car traders.
    You have three clear days after you sign a contract to change your mind. This is your cooling-off period. If you change your mind and terminate the sale agreement within the cooling-off period, the licensed motor car trader may keep $400 or two per cent of the purchase price (whichever is greater).

    get in there soon!!!
  3. Yeah mate get in there tomorrow & let them know want more time to think about it, they shouldn't try & keep your money as it may cost them future business.
  4. Hope the OP didn't sign one of those waiver forms where you abrogate your rights to a cooling off period.

    Every car that I've ever purchased from a dealer had one of these thrust under my nose for signing. I always, politely, set it to one side.

    If there's one thing that I've learned in my life and that is never, ever sign away your rights to anything.
  5. ... I paid a deposit on a bike and then realized that it really wasn't what I wanted. I may have been lucky, but I got the whole depoist back. This was with Western Motorcycles and I have to say that they were great about it. I would have agreed to partial deposit refund or none due to my indecision, it was totally my fault.

    Obviously there are conditions in each contract which need to be considered.
  6. Thanks for the responses guys, thats relieving.

    I still might go ahead with it, but I'll make up my mind by tomorrow morning.

    I didn't actually sign anything, but as I said the invoice states contract for purchase of vehicle, and I entered a verbal contract by stating that I will purchase it.

    I have been a pretty loyal customer there, purchased two sets of gear and two bikes from them, so I'm sure I could arrange something. Fall back plan could be to propose to use the $500 already paid to them to buy new gear.

    Heres hoping they understand and don't be wankers about it, they were really desperate to get rid of this bike as they can't move it, so I imagine they arn't going to be too happy.
  7. Let us know how you go. Good luck!
  8. The best thing you have done is NOT signed the contract.
  9. I'm surprised that they'd take his deposit without pressuring him to sign (and to sign the cooling off waiver), that they took his money, regardless, without signing.

    A salesman's focal point is the customer' signature on that contract.
  10. Some family and monetary issues came up, so I really had to back out.

    They were really nice about it, not an issue in the world, I even offered to keep the $500 there for gear I need this month, and they said its fine if I take the money back.

    worked out fine :), quite impressed, was very well handled on the salespersons part and they have kept me as a future customer.
  11. Give them a plug then.
  12. agreed.
    you got great service mate, they deserve a plug.
  13. Michael at Peter Stevens CBD

    Plug served.
  14. Great result !
  15. I've dealt with Michael as well - he sold me my bike. They are a good bunch of guys in there.

  16. I think most dealers will give the deposit back just to protect there reputation. The Deposit is really there to secure the bike so others cant buy/ride/sit on it. It's nice to make your mind up a lot faster once this is done.

    I think it would be rude if you put a deposit on the bike take a week/month to think about it and then say no.