Can the deposit for BYD new energy vehicles be refunded?
2 Answers
BYD new energy vehicles do not allow refunds after the deposit is paid. According to legal provisions, the party who paid the deposit cannot request a refund if they fail to fulfill their obligations. If the buyer breaches the contract, the deposit cannot be refunded. However, if the car seller breaches the contract, the buyer can request double the deposit as compensation or demand compensation for losses along with the refund of the deposit. As stipulated, when one party agrees to pay a deposit to the other party as a guarantee for the debt, the deposit shall be deducted from the payment or returned after the debtor fulfills the debt. If the party who paid the deposit fails to fulfill the agreed debt, they have no right to demand the return of the deposit. If the party who received the deposit fails to fulfill the agreed debt, they must return double the deposit. A deposit refers to a certain amount of money paid in advance by one party to the other as a guarantee to ensure the fulfillment of a debt. The amount of the deposit is agreed upon by both parties but must not exceed 20% of the total value of the main contract. The role of the deposit: The deposit is a legally binding partial payment made by the customer to confirm the purchase of an item. It signifies that the customer uses the deposit amount as a guarantee to ensure the purchase, and the seller cannot sell the item to others. The deposit provides an effective commitment constraint for both parties.
I also encountered a deposit issue when purchasing a BYD new energy vehicle. From a consumer's perspective, here's my experience: Paying a deposit is usually to secure the vehicle, and the contract will state that this money is generally non-refundable unless the seller breaches the contract or there are special circumstances. At that time, I impulsively paid the deposit after selecting the car, but later wanted to change my mind. The dealer directly said it couldn't be refunded, and I lost that prepayment. My advice is to carefully read the contract terms before signing, clarify the cancellation conditions, and preferably get written confirmation. If you regret after paying, you can try to negotiate, such as for delayed delivery or quality issues, which might lead to a refund. But don't get your hopes up too much—the reality is that in most cases, the deposit can't be recovered. So, take a few more days to think before committing to avoid impulsive decisions leading to waste. Remember to keep all communication records for future reference.
