oldschool350z

iTrader: (1)

So I have been debating on selling my z it is a 2004 touring with 51,000 miles. He offered $12,800 but only has $10,000 cash and would do the rest in payments.

Yay or nay? I told him if he can come up with $12,500 cash it's his. I never trust people really and cash talks.

mr. sparco

iTrader: (13)

Are you a bank? If not cash in full.

oldschool350z

iTrader: (1)

Hahah this made me laugh so hard. But it's true. Hopefully he can come up with the cash.

One time I had some black women want to do "payments" for $100 a month on the pathfinder I had for sale. Needless to say she couldn't even drive stick.

superlim9

My father did this once with a co-worker... well the co-worker got a new job almost immediately... and because He did the guy a favor and wrote the bill of sale for less so he didn't have to pay a huge tax when registering there was nothing legally to do when he skipped out on payments for the last 2k... So save yourself the hassle.

oldschool350z

iTrader: (1)

Oh yes I always will put the actual purchase price I've had many many buyers try that. I have them sign my bill of sale with the full price and if they make something else then I can'thelp it.

I told the guy all cash or no deal. I also wouldn't trust a check even if it's certified. Heard way too many horror stories.

stogey420time

iTrader: (1)

I lol'd ^_^

taywan

iTrader: (53)

Hell no unless you don't care about the remaining balance

NismoDude

This.


And I agree tha you should not take a certified check, etc.

Too easy to forge with laser printers, etc.


Also, many do not know that payment can be stopped on a certified check. The bank is just certifying that the funds are in the account, but it doesn't stop the account holder from requesting payment be stopped on the check.


Cash is King.

oldschool350z

iTrader: (1)

This is news to me! So the person could say oh the tires were bald or I had to buy a new window motor, then stop payment.

I agree cash is king. I haven't had too many people contact me. Just a bunch of scams or punk kids. I also will not allow for a test drive unless I have cash in hand. Too many joy riders or tire kickers. If it sells it sells.

Now that summer is here I forgot how fun the z is to drive.

NismoDude

Yes, if a teenager shows up asking for a test drive, tell him to come back with his parents - and their money, lol.

Bout 10 years ago was selling my '99 3000GT VR4, I did allow 2 test drives, one guy had driven over 200 miles to come see it, the other guy had flown in from several states away (he's the one who bought it, and paid to have it shipped.)

oldschool350z

iTrader: (1)

Hahah that is very true. I told him he could hop in the passenger seat and I drive. He was fine with it. One guy whom I could tell was out for a test drive , he simply couldn't take no for an answer.

If someone is 100% serious like those people that come from far or fly out. I sold a Subaru on eBay before and picked the guy up from the airport, he didn't even test drive it before he left lol.

speedmon

....If you aren't dying for the $2800, take the 10K and keep the title until he pays in full.....payments should have written terms....If he doesn't pay, just repo the car and sell it again. If he genuinely intends on paying you he shouldn't mind.
No need for trust...collateral is better.

Believe it or not...there is a lot of this "seller carry" going on here in SoCal among the Hispanic community, craigslist even has ads with the terms....its more about transport than it is about ownership.

My gardener bought his Silverado like this....they all seem very comfortable with it.
Did you know that you can cross the border illegally from Mex into CA...then get a drivers license and a bank account, buy a car and insurance and have kids and send them public school where they get free breakfast and lunch and instruction in Spanish, if desired......makes you wonder why we even have borders.

Ringo7

Simple solution.
Tell him to get a small loan from a bank for the remainder. He can then pay you the full asking price in cash and make payments to the bank.

Jennifer 2

Nismo, certified checks are a little old fashion nowadays mostly being replaced by the few different types of bank drafts (cashier’s checks etc.). However a certified check is not only signed by you, but also by the bank and the signing bank is absolutely required to honor it when correctly presented for payment. Your bank will not allow you to stop payment, because they are jointly responsible.

NismoDude

I understand that they (the bank) are "supposed to" honor a certified check, and there is some degree of legal protection, but a bank may still, at it's discretion, honor a customer's request (by the account holder), to stop payment.

I also understand that in a legal action where payment was stopped on a certified check, one would have the advantage, but there would be considerable time and hassle involved in pursuing payment if this were required, particularly if the check were drawn on an out of state bank.

But with the number of scammers that are out there, as stated, cash is king. Particularly in this economy over the last half decade, there are many people who run up debts with an eye towards filing bankruptcy.

I have had in my own business dealings, people have payments reversed on credit cards, KNOWING THEY GOT WHAT THEY PAID FOR. In each case I was able to get the credit card to pay me after providing documentation, but in each case I was out "fees" ranging from $20 to $100, plus time and hassle. In these instances it was quite obvious the person made a routine practice of disputing large credit card charges, because they probably "won some".

Jennifer 2

Yes, credit card companies routinely do ‘charge-backs’ on card transactions. Unfortunately for merchants, that mechanism is clearly spelled out in the merchant agreement they sign. Banks who issue certified checks however, are governed by the US Universal Commercial Code and that in a nutshell has no provision for you to stop payment on the check.

oldschool350z

iTrader: (1)

I had another gentleman come look. He liked it and put a $100 deposit down. Just a day ago he told me he can't get financed because of his credit score . Sigh.

I'm tempted to sell it on eBay.

NismoDude

Nothing wrong with ebay, LOTS of exposure.

Just make sure you put "LOCAL PICKUP",

and in your description spell out what you expect in terms of payment.

oldschool350z

iTrader: (1)

Thanks! I will do that and try to take some nice pictures. I actually have had a buyer drive to me and pick up a vehicle before.

I 've had some scammers that after the auction will send me a link ot have me ship before payment lol.

SmoothZ

iTrader: (13)

I will pay you $20,000 if you give me back the $7,500 difference...