928 Sold & Consignment Horror Story
05-08-2003, 04:19 PM
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928 Sold & Consignment Horror Story
I sold my '88 928 S4 as I simply didn't have the time to devote to it, but getting it sold was a surreal experience. The following was posted on the 993 forum as part of a thread on consignment experiences. Believe me, I couldn't make this sort of thing up if I tried!
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As someone who was nearly burned on a consignment deal in the past few weeks, I'd be very careful. Here's my story:
I had put my '88 928 S4 up for sale in the papers as I just didn't have time for it now that I'm focused on the 993 track car. I got a few nibbles and then a call from a guy at a local dealer who offered to put it on consignment. These guys have been here for a few years and sell lots of Porsches, Mercedes, BMWs, Ferraris, etc., often on consignment.
I met with a guy at the dealer on a Saturday to discuss the car, spending a couple of hours going over the details. I couldn't put my finger on it at the time, but my "Sixth Sense" meters were going off, and in hindsight I should have just walked away. But I've know the owners for a while and figured I was just being put off by the usual sales-guy sliminess (no offense to any sale-folks, but you know what I mean.)
Things started to get weird when he said that he wanted to buy the car, and he wanted to pay me $1500 per month until it was paid off. I told him that I wasn't a bank and didn't want to worry about collecting the money. He gave me the "you can trust me" spiel, which immediately makes me even more suspicious. No, I told him, I came in because you guys wanted to sell the car on consignment.
I sign a consignment contract, give the guy the $300 fee, and he takes the car after dropping me off at the house. During the next couple of weeks he would call every now and then to say that he had some interest in the car, and how much would I take for it, etc. I wasn't looking to make any profit on the car and simply wanted to sell it to someone who wanted to give it a good home, so I told him I'd take $10K minimum. The car needed $2K to $5K to make it near perfect, so I figured that this was a fair deal.
Two weeks ago he calls on a Tuesday to say that he was going to buy the car and needed to get the title. I was on a business trip and told him that I'd be back in town on Friday. No problem he says.
On Thursday another guy calls and says that he bought the car and needed the title. I'm amazed because I haven't sold the car yet, so both of us start to realize that something is fishy. The buyer had written a check to the sales-guy personally, not to the dealership, as the sales-guy claimed the car was his. The check had been cashed and naturally the buyer is wondering where the title is. At this point the buyer, who is also a dealer, calls the owner of the dealership and threatens to get the dealer board after them if they don't straighten things out.
The owner calls me to say that the dealer was out on bond and that they were beginning to suspect that he had been up to something. They call his parole officer and the guy is arrested, and now is sitting in jail. The officers refer to the guy as a "walking crime wave" and said that this crazy car theft thing was just one of the things he had been up to lately.
The owner of the dealer had been led to believe that I was a "friend and neighbor" of this crook, which is what he was telling them. He told them that I wasn't interested in selling the car on consignment, and didn't give them the contract or the check. He was driving the car daily, and at some point the windshield was badly cracked by what he claimed was a bird hitting it. I haven't the foggiest idea what else he may have been doing in the car, but visions of the parking attendants in Ferris Bueller and Bonny-and-Clyde style getaways have crossed my mind.
The good news is that the buyer's check was returned and he is buying the car directly from me now. The dealer had initially said that they'd fix the windshield, but have now said that they won't. They have been pulling the "we are victims as well" bit, which really pisses me off. Frankly, I'm not expecting anything from them, but it would be nice if they'd at least pretend to be decent about the whole mess.
In short, I'd be very careful about selling your car on consignment. Make sure you know and trust the dealer, get a contract, and make sure that your car is being well cared for. I'll probably ask them for their rap sheet if I ever do something like this again.
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As someone who was nearly burned on a consignment deal in the past few weeks, I'd be very careful. Here's my story:
I had put my '88 928 S4 up for sale in the papers as I just didn't have time for it now that I'm focused on the 993 track car. I got a few nibbles and then a call from a guy at a local dealer who offered to put it on consignment. These guys have been here for a few years and sell lots of Porsches, Mercedes, BMWs, Ferraris, etc., often on consignment.
I met with a guy at the dealer on a Saturday to discuss the car, spending a couple of hours going over the details. I couldn't put my finger on it at the time, but my "Sixth Sense" meters were going off, and in hindsight I should have just walked away. But I've know the owners for a while and figured I was just being put off by the usual sales-guy sliminess (no offense to any sale-folks, but you know what I mean.)
Things started to get weird when he said that he wanted to buy the car, and he wanted to pay me $1500 per month until it was paid off. I told him that I wasn't a bank and didn't want to worry about collecting the money. He gave me the "you can trust me" spiel, which immediately makes me even more suspicious. No, I told him, I came in because you guys wanted to sell the car on consignment.
I sign a consignment contract, give the guy the $300 fee, and he takes the car after dropping me off at the house. During the next couple of weeks he would call every now and then to say that he had some interest in the car, and how much would I take for it, etc. I wasn't looking to make any profit on the car and simply wanted to sell it to someone who wanted to give it a good home, so I told him I'd take $10K minimum. The car needed $2K to $5K to make it near perfect, so I figured that this was a fair deal.
Two weeks ago he calls on a Tuesday to say that he was going to buy the car and needed to get the title. I was on a business trip and told him that I'd be back in town on Friday. No problem he says.
On Thursday another guy calls and says that he bought the car and needed the title. I'm amazed because I haven't sold the car yet, so both of us start to realize that something is fishy. The buyer had written a check to the sales-guy personally, not to the dealership, as the sales-guy claimed the car was his. The check had been cashed and naturally the buyer is wondering where the title is. At this point the buyer, who is also a dealer, calls the owner of the dealership and threatens to get the dealer board after them if they don't straighten things out.
The owner calls me to say that the dealer was out on bond and that they were beginning to suspect that he had been up to something. They call his parole officer and the guy is arrested, and now is sitting in jail. The officers refer to the guy as a "walking crime wave" and said that this crazy car theft thing was just one of the things he had been up to lately.
The owner of the dealer had been led to believe that I was a "friend and neighbor" of this crook, which is what he was telling them. He told them that I wasn't interested in selling the car on consignment, and didn't give them the contract or the check. He was driving the car daily, and at some point the windshield was badly cracked by what he claimed was a bird hitting it. I haven't the foggiest idea what else he may have been doing in the car, but visions of the parking attendants in Ferris Bueller and Bonny-and-Clyde style getaways have crossed my mind.
The good news is that the buyer's check was returned and he is buying the car directly from me now. The dealer had initially said that they'd fix the windshield, but have now said that they won't. They have been pulling the "we are victims as well" bit, which really pisses me off. Frankly, I'm not expecting anything from them, but it would be nice if they'd at least pretend to be decent about the whole mess.
In short, I'd be very careful about selling your car on consignment. Make sure you know and trust the dealer, get a contract, and make sure that your car is being well cared for. I'll probably ask them for their rap sheet if I ever do something like this again.
05-08-2003, 04:46 PM
#2
Nordschleife Master
What about your three hundred dollars?. I'm sort of confused -
2 dealers - One w/crooked sales guy - one Honest. Crooked Sales guy not Dealer took three hundred plus car. Sales guy, not dealer made bogus deal?. Is this accurate?.
Sorry to hear about your experience. glad it worked out.
2 dealers - One w/crooked sales guy - one Honest. Crooked Sales guy not Dealer took three hundred plus car. Sales guy, not dealer made bogus deal?. Is this accurate?.
Sorry to hear about your experience. glad it worked out.
05-08-2003, 04:59 PM
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Didn't you have a copy of the contract and a receipt for the $300? I'd make the dealer pay for the repairs for the windshield and whatever else was found.
05-08-2003, 05:20 PM
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Yes, I have the contract, but frankly fighting over the money with the dealer wasn't worth the effort. I was just glad to get the car sold, and happy that it wasn't any worse. The dealer who is buying the car can worry about the windshield repair and whether or not the consignment dealer will take care of it. I'm putting all of this madness behind me.
Drew,
There is a dealership who hired the crooked sales guy and there is an independent dealer who bought the car. The sales guy was the one doing the dirty business, but the dealership is the one who could have handled things better.
From the sound of it the independent dealer has already sold the car, and I hope that it goes to a happy home. It's a beautiful car that simply needs someone to give it the TLC that I just didn't have the time for.
Drew,
There is a dealership who hired the crooked sales guy and there is an independent dealer who bought the car. The sales guy was the one doing the dirty business, but the dealership is the one who could have handled things better.
From the sound of it the independent dealer has already sold the car, and I hope that it goes to a happy home. It's a beautiful car that simply needs someone to give it the TLC that I just didn't have the time for.
05-08-2003, 05:31 PM
#5
Nordschleife Master
Skip, thanks for the clarification. Again, glad to hear it worked out. I still feel the dealership who hired the slim shaddy should fess up and take responsibilty. Doesn't anyone do background checks anymore?.
Peace
Peace
? That is a really nice looking car. I like those Boxster wheels. That race car is a looker too 
05-12-2003, 03:06 PM
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Hi Larry,
Yes, for only $10k. It was going to take $2k to $5k to make it perfect (A/C broken, electric seats/windows gremlins, driveline vibration), and I can use that on the race car. I was trying to find someone who wanted to give the 928 and good home and do the work on it, but the folks from the list who contacted me didn't follow through. I might have been able to get more for it, but I honestly didn't want to try to screw anyone over by not letting them know what the cost to fix it up would be.
I gave the original "flats" wheels to a buddy of mine for his 944 Turbo race car. Apparently people really like those wheels because they are forged.
Thanks for the compliments on the race car.
Yes, for only $10k. It was going to take $2k to $5k to make it perfect (A/C broken, electric seats/windows gremlins, driveline vibration), and I can use that on the race car. I was trying to find someone who wanted to give the 928 and good home and do the work on it, but the folks from the list who contacted me didn't follow through. I might have been able to get more for it, but I honestly didn't want to try to screw anyone over by not letting them know what the cost to fix it up would be.
I gave the original "flats" wheels to a buddy of mine for his 944 Turbo race car. Apparently people really like those wheels because they are forged.
Thanks for the compliments on the race car.
