100% 'Deposit' - ?

[simongt]

The GLW has decided to get herself a nice new Brompton M6L. So, she specced it on the Brompton website and about the only dealer now in Norwich is Cycle Republic, i.e., posh Halfords. She e-mailed them about the arrangements and the manager e-mailed back stating that there is about a five week wait, no big deal there. However he also said they would require a 100% non-refundable deposit ; that's about £1,100. To us, that seems outrageous just on principle, especially that if there's an issue with the bike when we go to collect it, but also that's £1,100 worth of interest over five weeks that we are losing and Cycle Republic are gaining.
Thoughts / views - ?

 

[Drago]

I'd tell them they've just lost a sale.

 

[OldShep]

T&C 5.3. When an Order is placed a pre-authorisation will be made against your account. Payment is not taken at this time. Cycle Republic will endeavour to process any payments at the time of dispatch.

So you won’t be loosing any interest.

Also read
7 . Refunds and Returns

7.1 If you are a consumer, you have a legal right to cancel a Contract under the Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013 within 14 days of receipt of Goods however for Cycle Republic Goods, Cycle Republic have extended that right to 28 days from receipt of the Goods (please see clause 7.3 below for an explanation of the period during which you can cancel a Contract). This means that during the relevant period if you change your mind or decide for any other reason that you do not want to receive or keep the Goods, you can notify us of your decision to cancel the Contract and receive a refund. Alternatively, you are entitled to request an exchange within the same period of time and the provisions below also apply to exchanges.

 

[Vantage]

I'd tell 'em where to shove the deposit and buy something else somewhere else.
Bromptons are nice, but I think they're hugely overpriced simply because they're Bromptons.

 

[Cuchilo]

You specced a bike made to your requirements but dont want to pay for it until its made ? If you walk into a shop and want something you have to pay for it so what has changed on your part ?

 

[deptfordmarmoset]

You specced a bike made to your requirements but dont want to pay for it until its made ? If you walk into a shop and want something you have to pay for it so what has changed on your part ?

100% deposit is stretching the concept way further up its own derriere that it was ever intended to go. Earlier this week I paid a £100 deposit on a 2K bike while they build it. That is in the spirit of the word deposit.

 

[screenman]

I can see nothing wrong with paying up front, by using a credit card of course.

 

[deptfordmarmoset]

I can see nothing wrong with paying up front, by using a credit card of course.

Isn't that pre-payment though? A deposit should be different.

 

[screenman]

Isn't that pre-payment though? A deposit should be different.

I just said what I was happy with, in my business I sometimes take a deposit, I did last week as it happens.

 

[screenman]

Maybe either the shop held the Zero button down again or should not have used the word deposit. As for the interest, about a pound I guess at today's rates.

 

[nickyboy]

If the shop is seeking to protect itself from the risk the OP doesn't go through with the transaction the deposit should be the ex-VAT wholesale cost to them

Probably about half what they've asked for

With that in their bank account they could throw it away and not lose money

 

[screenman]

I really cannot see the problem with paying for it upfront, my orders never go out unless the customers had an agreed account or the goods have been paid for. I would ask the shop to clarify the position but would have no worries using a credit card to pay for it.

 

[Lozz360]

Interest I reckon would be £6.42 assuming a rate of 1.4% over five months.

 

[Heltor Chasca]

SJS Cycles In Bridgewater will be keen to help.

 

[Globalti]

Valentine's Day yesterday so I asked Mrs Gti if she'd like me to make a small deposit but she turned me down....