Need some advice on a car sale !!!!!

Milk Man

New Member
Joined
May 29, 2006
Location
Stedman,NC
OK,

I have a 78 Trans Am that was for sale and A guy said he wanted it. But he did not have all the money at the time, Dec. 8,2008. He asked if he could pay two payments of 1,000.00 on Dec. 15,2008 and on Jan 1, 2009. Well the first payment he only brought 500.00 on Dec 16 and now its the 6 of Jan and he has not called or any thing. I have the car,title,keys and I never gave him a bill of sale. What should I do about this problem. Should I be nice and give him back 250.00 and just keep the car if he does not contact me bye the 10 of this month. I just don't know what to do about this. Thanks for any help or advice,steven
 
I would keep his money especially if he hasn't called you.....He must not care that much.
 
I have recently ran into something similar (taking payments on something).

I wrote up a contract before he made the first payment stating I keep 20% of what has been paid if he has to back out. Should have made it 50%, but he has paid over half now so I should be good.

If he doesn't call and ask for the money back, then wait a little while longer (maybe the 15th of Jan), and start trying to sell it again. If after that he wants his money back, 100% IF it won't hurt your wallet too bad. If it will then give him 50% or nothing even, if I was in his shoes, I would have made 100% sure I had some sort of a contract...
 
I should have made a bill of sale with the payment plan or something. I told him i need the money because my 1 year old son has been pretty sick and in the hospital for a week. He new I did't want to sell but need the money quick and said money was not a problem. Thanks for the advice Guy's
 
If money was not a problem for him he should have paid it all up front...

I wrote on my BOS I'd give the guy 4 (or 5?) months to pay it off, he tried to pay it off early, but his fiancee lost her job so that put a damper on his $$$. He will still have it paid off in 3 months (or close) though.
 
write a receipt. State the payment plan. State what the deposit or non-refundable part is. State what happens if payments are not made. And what happens when the transaction is ended or stopped. IE The refund amount if any. 1000 different ways to do a deal.

If you situation I'd give him $250 back... I'd call him or leave a message, tell him if he hasn't paid anything by Jan 30th etc. The deal is null and he can come get his $250 If he bitches tell him he's lucky to be getting any of his DEPOSIT back..

He may already be thinking he's out the $500 and figures if he calls you, you may expect him to pay all of it..
 
No contract.....well keep the money for your time and other possible lost sales cause you where holding on the car. Been there done that and made money.
 
you gotta do a heart check, on yourself. Everyones advice here is good...but it's what you can sleep with that counts.
Keep all money and sale car to someone else
sale car, give guy ALL his money back
sale car and give back a portion of his money.

What can you do, and feel good about?
 
I have been on both ends of this. I have bought from and individual and payed off early, I have bought from someone and things happened and I was late, but I stayed in contact with the person, and I have sold and was payed off on time for the most part.

The way I see it, if you go to local buy here, pay here place, and don't make the payment, they come get the car.

As Dylan said, it's what you can sleep with. At the very most, I would let him know that the car is for sale again, but the money he put down has been used. So when you sell it you will refund what he payed. This way, you are not causing yourself any hardships, and he gets his money back but only when it sells.
 
Sell the car. If he shows up with the rest of the money then give him a refund. If he calls asking for a refund give him half of it for wasting your time. My experience is most of the time you never hear from them again.
 
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