Holding deposit or actual deposit as they are two(2) different animals. Holding is what the name implies, the product is held by the buyer pending buyer inspection and actual decision. The product cannot be resold whilst a holding deposit is retained. If after this time you decide not to buy, your holding deposit is refunded. Actual is what you pay and are not en***led to via a refund if you then change your mind. It needs to be made clear as there are some exceptions, not fit for its intended purpose, not as advertised, misrepresented etc. Had a friend of a friend recently sell his 'A' RPU body with the purchaser paying an actual deposit, as opposed to a holding deposit. He returned a week later to presumably take delivery of his purchase and had changed his mind, so he forfeited his deposit. In the interim the body could have been sold multiple times over but couldn't as an actual deposit had been paid. That's how things work down here.
Nothing is sold until paid for in full. If I lived (5) hours away from a vehicle I wanted - if I had money to buy it - it would be bought & paid for in (6) hours. Jim
The Jalopy Journal
