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Thread: buyer wants to back out of a car deal AFTER giving me the cash. #whatwouldbeyondo

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    Default buyer wants to back out of a car deal AFTER giving me the cash. #whatwouldbeyondo

    So I sold my car, agreed price, the money was wired to my account in full. I was preparing the transport and sorting out the bill of sale, etc, and the guy emailed me asking to cancel the deal.

    What would you do?

    a) Tell him to stuff it - a deal is a deal

    b) give him the money back

    c) keep a portion as a deposit (if so how much?)

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    If you can easily sell the car then c. If not then a or c
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    Lie and tell him you already committed to transport and are on the hook for it so the car is coming his way. He is free to relist it.

    What kind of bozo sends the full amount then renegs. Poor bastard must be in a Crunch.
    Originally posted by Thales of Miletus

    If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
    Originally posted by Toma
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    Quote Originally Posted by Buster View Post
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    So I sold my car, agreed price, the money was wired to my account in full. I was preparing the transport and sorting out the bill of sale, etc, and the guy emailed me asking to cancel the deal.

    What would you do?

    a) Tell him to stuff it - a deal is a deal

    b) give him the money back

    c) keep a portion as a deposit (if so how much?)
    That's a tough one - but if you decide to keep it, bill for your time etc.

    I had something similar happen and the buyer ended up paying about 300$ (left a deposit) from a $15,000 sale.

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    Quote Originally Posted by revelations View Post
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    That's a tough one - but if you decide to keep it, bill for your time etc.

    I had something similar happen and the buyer ended up paying about 300$ (left a deposit) from a $15,000 sale.
    This is a $100k deal. It's going to be expensive for him.

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    Offer c) and I think minimum 5%. He's got to feel a sting and you've got to be confident you can sell it again without taking a loss compared to the as-sold price. You may still only get 95% from your next buyer.

    Is there any tiny chance this is a scam? If you refund the full money, could he possibly make a claim that the car was sold to him and get a claim on the title?
    I don't think so... But this behaviour is very odd.

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    Did he give you a reason for backing out? At the very least option C, I would be more pissed about wasting my time more than anything.

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    Quote Originally Posted by Buster View Post
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    This is a $100k deal. It's going to be expensive for him.
    Keeping 2-5% on 100k deal seems reasonable
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    Quote Originally Posted by Clever View Post
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    Did he give you a reason for backing out? At the very least option C, I would be more pissed about wasting my time more than anything.
    And potential buyers in the meantime. Fucking hell I hate people.
    Last edited by 03ozwhip; 05-05-2020 at 08:00 PM.

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    Quote Originally Posted by ThePenIsMightier View Post
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    Is there any tiny chance this is a scam? If you refund the full money, could he possibly make a claim that the car was sold to him and get a claim on the title?
    I don't think so... But this behaviour is very odd.
    Yeah, don't send him money for like 10 business days minimum, there's probably nothing afoot, but there are ways to perpetuate fraud in this manner.
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    Quote Originally Posted by yipb View Post
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    If you can easily sell the car then c. If not then a or c
    Yeah, this is what I'd do.

    If it's hard to sell, tell him tough luck. If it's easy to sell and you're anxious to get rid of it, take a cut and deduct that from the sale price to make it more enticing for the next guy.

    Quote Originally Posted by killramos View Post
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    renegs
    heh heh heh


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    Quote Originally Posted by D'z Nutz View Post
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    Yeah, this is what I'd do.

    If it's hard to sell, tell him tough luck. If it's easy to sell and you're anxious to get rid of it, take a cut and deduct that from the sale price to make it more enticing for the next guy....]
    $100k private sales aren't easy to come by. Places like Weissach likely take at least 10% and Ferrari would take 20% if you consign there.

    This sucks!
    Last edited by ThePenIsMightier; 05-05-2020 at 08:10 PM.

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    You have a signed bill of sale? That's a contract.
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    This is for the AMG GT?

    I say keep 5-10k and drive it for another year for free.
    Originally posted by Thales of Miletus

    If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
    Originally posted by Toma
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    Quote Originally Posted by ExtraSlow View Post
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    You have a signed bill of sale? That's a contract.
    I think I'm smelling what you're stepping in.
    Aaawwww FORWARD LOOKING COMPENSATORY MECHANISM, BITCHES!!!!!
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    A. Ship the car. Tell him it’s a YP not a MP.
    Originally posted by SEANBANERJEE
    I have gone above and beyond what I should rightfully have to do to protect my good name

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    Quote Originally Posted by ThePenIsMightier View Post
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    Offer c) and I think minimum 5%. He's got to feel a sting and you've got to be confident you can sell it again without taking a loss compared to the as-sold price. You may still only get 95% from your next buyer.

    Is there any tiny chance this is a scam? If you refund the full money, could he possibly make a claim that the car was sold to him and get a claim on the title?
    I don't think so... But this behaviour is very odd.
    I'm viewing it as a "time+damages" situation. I am going to confirm with the bank that the wire was non-reversible. It definitely came into my account labelled as a "wire" which are generally considered difficult or impossible to reverse.

    Quote Originally Posted by 03ozwhip View Post
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    And potential buyers in the meantime. Fucking hell I hate people.
    Yes, potential buyers. Some of the shit I've seen in my work life would make your eyes water.

    Quote Originally Posted by ExtraSlow View Post
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    Yeah, don't send him money for like 10 business days minimum, there's probably nothing afoot, but there are ways to perpetuate fraud in this manner.
    That's a good plan, and I want to ensure the bank is onboard with the funds being totally cleaer.

    Quote Originally Posted by ExtraSlow View Post
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    You have a signed bill of sale? That's a contract.
    No bill of sale, but enough communication to ensure that the deal is done. Possession is 9/10s of the law, and I have a car and a lot of cash, so I don't think he can ask for the money back on a verbal agreement.
    Bill of sale is signed on my end, but I haven't sent it to him

    Quote Originally Posted by killramos View Post
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    This is for the AMG GT?

    I say keep 5-10k and drive it for another year for free.
    Maybe. I think his damage will end up being in the $5k range.

    I told him that I would "help if I could" and would see if some of the other buyers were still interested.

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    Either way, don't send him the money until you sell the car. Fuck him, maybe in three or four weeks he'll decide he wants the car.
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    I'd be hesitant in trying to assign damages if you haven't incurred them. Send him the bill of sale or cancel the deal. You could offer to buy it back from him for $95k if you so choose.

    If he refuses to take delivery I would consult a lawyer. You could set up a deal where the money is put in trust and you work to sell the vehicle for a fair price in a reasonable time. You get the new offer and a top up to $100k, he gets returned the remainder
    Quote Originally Posted by Gestalt View Post
    Im the one with a learning disability....

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    It sounds like if you threaten to shave enough off the top - 10-15% for eg - buyer might reconsider backing out.

    I cant believe someone would just wire you 100k though - without any guarantees of possession - that amount takes weeks to clear usually.

    I would have worked with some kind of escrow setup at that price range.

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