If a dealer goes into administration?

[eddie]

and Irish?

No, not puke green, a lovely shade of WattGuardz green

 

[AshWattGuardz]

Green on the outside, blue stitching on the inside to match the company colours

 

[delia]

In 2022 Premium Motorhomes had a new Carthago van in stock but could not release it for a couple of months as needed as a showroom demonstrater. It was at the time of the jump in prices, I agreed to buy at the advertised price, paid a holding deposit and had a contract. Days later told by sales person that the price was "wrong" and it had gone up by £30000 so would not stick with the sale as it was. They obviously wanted to cash in on the new retail prices. I tried numerous times to talk to a director but despite being in the office he would not speak to me. Fortunately I managed to get the deposit paid on my credit card back.

The conversation shall be with Premium as they are the Dealer I shall be making payment to. Would probably be happier if it were Morelo. No disrespect to Premium, but of the two Morelo must be seen as more financially secure, but you never know. I’m not sure what others have done recently, perhaps they were oblivious to the risk. But find that highly unlikely, someone forking out £500k must have some financial savvy, you would think!

 

[Dutch 68]

Things are even more complicated now Martin and something my legal Mother is pondering. Her legal advice was very clear, pay nothing until the keys are in your hand. However, that is not an option and neither is factory collection since Brexit.
I think the deposit depends on who you are and if it’s repeat business. I spoke with a guy who was looking to order a GE with a 10 month wait and they were insisting on 10% deposit to take the order. That would have been around €75k sitting in the dealers account for 10 months, he walked away. No idea how true the story was, it was a usual campsite conversation. I think as you say minimum deposit would be £10k.
The vehicle needs to be paid in FULL prior to the factory releasing. You then have to wait for shipment to U.K. and the inspection and registration prior to collection so could be 3 weeks between full payment and collection. My mother is taking advice from someone more familiar with this type of law and shall advise, but it needs to be water tight given sums of money involved.

Would it be acceptable for big manufacturers to deposit the money into a holding account from a solicitors until the vehicle is released to you?
That would be the correct solution for both parties including a waterproof legal document.
Just as with a house sale