Backing Out of buying new bike

[Yuns]

I just signed and deposit 2k to a bike shop for a first hand bike. Receipt was given. I planned on full cash the bike. Agreed on the price given but however realised that it doesnt include the processing fee of $380. And also the installation of OBU unit at vicom.

All of these was signed, and i went home thinking about the total price thats not what I wanted. And now im wondering if i could back out from the deal? Obviously the 2k will be forfeited. Anyone have experience with this before? What can i do? I feel very stupid

[Siphon]

Instead of upfront losing 2k… you can consider using a loan to negotiate with them to take off the price of the processing fee and install the obu for you. After which you can either ride the bike or try to sell off as new? Either way you will lose some $$ for this experience learnt. At least next time you will know better. 
 

just make sure you are able to clear the loan type. Some loan they won’t let you clear it off earlier because they want the profit from the loan. Some shops are nice about it. Some aren’t. So clarify it before you take the loan. 

[adesmond2]

2k vs $380+installation of OBU, I think I would go ahead with the purchase rather then losing that 2K.. it's the bike shop who will earn eventually.

 

Next time, remember to read between the lines.