Interest on Deposits paid

[Tony M]

My friend recently ordered a GT3 which he is collecting in early June.

He took the trouble to read and actually understand the small print on the back of the official Porsche order and it states in a roundabout way that interest will be paid on the deposit. This meant that his £10,000 deposit had accrued about £250.00s worth of interest which was deducted from the final price of the car.

The dealership said he was the first person to ask for refund of the interest.

I will be the second and my refund should be over £500

Has anyone else that has paid a deposit considered this opportunity to get some money back ?

 

[Rodney Naghar]

He's certainly not the first and you won't be the second.[] OPCs have been telling their customers that the interest belongs to the OPC (see Pistonheads).He's the first I've read about that actually managed to get the interest back!

 

[Rotorhead]

I didn't get any interest, although I paid my deposit by Mastercard. This meant the dealer incurred a commision charge, but I deferred payment for six weeks and got the air miles.

IMO the big deposit is a good thing, as it discourages dreamers and speculators.

 

[snarf]

ORIGINAL: Tony M

My friend recently ordered a GT3 which he is collecting in early June. . . The dealership said he was the first person to ask for refund of the interest . . .

Useful bit of information, wonder if it's too late to ask for my interest to be returned [&:].

 

[peterfrost]

I don't think thats what the terms and conditions say-its only if the contract isn't completed you are entitled to return of your deposit with interest accrued.When your stumping up 10k with no build date its a bit of a liberty.
I claimed but was only reluctantly given interest due to delay on my 10k deposit from the advised delivery date to actual .

 

[Tony M]

I have now taken the trouble to read the small print and the bit that applies is refered to under 'Deposits' which is in section 5 and the specific bit is then (d);



Within 14 days of receiving notification from the seller that the goods are ready for delivery the purchaser shall pay the seller the balence of the purchase priceof the goods, being the difference between the importer's recommended retail price of the goods and any deposits paid by the purchaser under sub conditions (b) or (c)above AND ANY ACCRUED INTEREST THEREON.



I think that if you have not had your interest accrued taken into account it is not too late to claim it back under the terms of a legally binding Contract.


Maybe the fact that the dealers do not give back the interest allows them to give away a 'Free' key ring or bunch of flowers as a trade off []

 

[graham m]

So - just suppose I've decided that I fancy a change from the 997 Turbo to a GT3, which will be circa £90K. I've already been told to expect £5k/year depreciation on the Turbo. So I want to order one for delivery March next year - my Turbo will then be 18 mths old and by the OPC reckoning worth approx £95K. I still now have to give them a £10K deposit to secure my order and then when i collect the car I will get a cheque back for £15K as well.
Now this sounds slightly confusing - but it would seem true?
Ummm....
Graham

 

[yan]

I read your post with interest and decided to query the deposit interest with my OPC and they have referred me to clause 5biii which refers to refunds only as if this is over-riding 5d listed above. (I took delivery of the vehicle.)

I might challenge them further but might need some back-up:
Tony - did you or your friend actually get the interest back after all?
Has anyone else received interest as such, i.e. in conjunction with taking delivery of the vehicle?

Many thanks J.

 

[Alex L]

I asked the same thing on my Turbo deposit. Was told the only cars they ever did interest on deposits was for the Carrera GT. That's it.

 

[Tony M]

ORIGINAL: J

Tony - did you or your friend actually get the interest back after all?
Many thanks J.

He sure did. The refund was a tad short of £500 and was deducted from the total cost.

I have discussed the issue of interest with the dealer Principle and he has confirmed that I too will receive an allowance for interest accrued.

I will have to cough up sometime in early September,as I am scheduled for a 10th September factory collection. I will let you know what the sum is in view of the recent hike in interest rates, and the fact that the dealer has been holding my £10,000 deposit far longer than they held my friends deposit.

Roll on September and the collection of the Macadamia Turbo Cab, now referred to by my family as the Flying T*rd []

 

[garyw]

Good luck with the collection Tony, if you want any advice on the collection just ask.

garyw

 

[chrismouzou]

asked opc about interest on my deposit and was told i will be getting interest on my deposit