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Chris The Lawyer
Chris The Lawyer, Lawyer
Category: New Zealand Law
Satisfied Customers: 22809
Experience:  38 years qualified as a lawyer; LLB, MMgt and FAMINZ.
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Several weeks ago my husband & I paid $1000 & $500 respectively

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Several weeks ago my husband & I paid $1000 & $500 respectively as deposits on 2 used cars from a dealership in Nelson. The dealer is holding the vehicles for us in storage until 10/11th May when the money from the sale of our house comes through and we pay the balance. We have now decided that we no longer want the smaller and less expensive of the 2 cars (Toyota BB $7000, $1000 deposit paid). Are we required by law to complete this sale? We were told that our deposits were non-refundable. Is this correct?

christhelawyer : HiWelcome to JustAnswer. My first response will follow shortly. Please feel free to follow up if anything is not clear
christhelawyer : Unfortunately the dealer is right. You have a contract for the purchase and cannot cancel without a good reason. If you cancel this is a breach of the contract, and they can take the deposits as damages for the breach
christhelawyer : The law about this is the Contractual Remedies Act and if you cancel this act provides that you will have to pay damages
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