Does a receipt constitute a legally binding contract?

[Vonny1537]

Hi all,

I have recently put a 10% deposit down on a second hand car which I have a receipt for. Unfortunately the dealer has now informed me that I cannot have the car yet, as the current owner who is trading in the vehicle against a new car from the dealer is waiting on a bank loan being approved. (Also the car is still listed as for sale in autotrader)Can anyone advise if I have any rights in this situation if the dealer refuses to complete the sale due to the current owner failing to secure finance?

Thanks in advance for any assistance

[jersey]

Name and shame then you will get it back .

[Vonny1537]

Tempting but I actually really want the car I've "bought":-( the dealer has said if the owner can't secure the finance (although they're 99% sure she will) then they will return my deposit. But i didn't think anyone could get bank loans here anymore so I'm worried also I'm Suspicious they're trying to get out of the deal, as they told me that the car should be more expensive than the price it was advertised for due to a typo. It doesn't fill me with confidence

[explodingaardvark]

I would have thought that if they thought the car was underpriced and they could get a better deal, then they would have been only too happy to refund your deposit without waiting for the 'loan' to go through. Just be careful they don't keep your deposit whilst they test the market to see if they can get a better price.

[Vonny1537]

Thanks for this, I've had a couple of issues with car dealers already and don't trust anything they say, which is why I'm on edge

[explodingaardvark]

That's probably the best attitude to take