Is refund possible for car reservation fee?

I would like to know if it is possible to request for a refund on our reservation for a Hyundai Elantra unit amounting to P10,000.


On June 20, 2017, I came across a post on Facebook for buyers who want to buy repossessed cars.


I inquired and an agent met me at Park N Sell Ortigas and showed me a Hyundai Elantra.


We agreed that the price of a unit is P620,000 and she will look for a bank which can finance my car loan and while she is doing that she advised me to provide a reservation fee of P10,000.

The agent did not give me a computation for the monthly amortization and the insurance stating that she is not yet aware of the computation.

A financing company named AsiaLink contacted us informing that our car loan has been forwarded them and we got approved within the week.


On June 30, we went to Park N Sell Ortigas again and to our surprise the interest rate is 1.2percent per month.  The amount to be financed is P490,000 and in 4 years, its interest is P305,000.


We did not sign the loan and we decided to cancel it. However, Park N Sell will not refund our reservation amounting to P10,000.


Please be advised that they have only supplied us an acknowledgment receipt and it was not stated in the said receipt that the reservation is not refundable.

Please inform us how we could have the reservation fee refunded.

request to them their documentation that refund is not possible. usually they have this on their terms and agreements. however, keep in mind that non refund of reservation fee is a typical practice as long as this is on their terms. you can also refer to DTI to see if they can assist you.

xtianjames wrote:request to them their documentation that refund is not possible. usually they have this on their terms and agreements. however, keep in mind that non refund of reservation fee is a typical practice as long as this is on their terms. you can also refer to DTI to see if they can assist you.

Thank you for your response. They only have provided me the acknowledgment receipt and it is not stated there that refund is not possible. I have also emailed DTI and is still waiting for their response.

Thanks again.