Ask an expert
About 4 weeks ago we paid a $3000 deposit on a new car. We were told this was so they could start looking in other yards for a new vehicle so we didnt have to wait until something came into the country. Within hours of receiving the deposit we were told that no cars were available in NZ and we would have to wait.
We signed an agreement saying we would purchase a car.
We are now in the situation with the corona virus that we cannot afford to buy it. Are we entitled to our deposit back?
Unless the fine print has a deposit refund clause, there is no entitlement to get it back. You will be appealing to the seller that a change in circumstances has lead to a prevention of being able to complete the transaction. I'm sure there will be a lot of people in the same situation across NZ who are now faced with this change. The CGA gives a warning on handing a deposit as you may not be able to get it back, but this is a new situation that has risen which hopefully the car dealer will understand.