spyder fan

What would you guys do if someone agreed to buy a car from you, with a firm contract, and days before you were to ship the car the buyer reneges on the sale, costing you weeks of potential selling time.

sccchiii

It's never good, but you will take years off your life dwelling on it. It happens occasionally and its best just to move forward and get the car sold. I would suggest that if you agree to sell car and take a car off market, when you collect deposit make buyer agreeable that if they back out you will refund the full deposit minus fees to re-list the car or a specific predetermined amount like $500-$1000.

Mike in CA

I'd be pissed, but I'd probably chalk it up to experience. You might have legal recourse, but the question is whether you want the hassle and expense of going that route.

I've sold many cars to private parties. Sometimes it goes easily and other times it's a PITA. Lately, unless it's a slam dunk selling to someone I know, I've been more inclined to trade a car in to avoid all of the possible pitfalls of selling myself. It's more expensive, but life is short and the older I get the less inclined I am to deal with the potential aggravation.

Sorry this one didn't work out for you. GLWS.

RUF RS

+1. Totally agree, I've traded in a few cars for same exact reason. Costs a few bucks...worth it.

GregJGT3

I always do a multi page contract spelling out exactly the terms of the sale, how long I keep ins in effect, guarantees on valid title, etc. it protects buyer and seller and spells everything out. BUT you never can be positive the sale is done until the money is in the bank. I have had all scenarios of failed sales. Nothing you can do but chalk it up to experience and life.

shapiroeric

Nothing more true than that in all aspects of business.....

K964

Yup. Selling cars is a very tough business. Unless I know the individual very well, I will insist upon a non-refundable deposit of at least $2,500.

pissedpuppy

not sure there's much you can do....

Carrera GT

Either take a small "earnest money" deposit (and expect to return that cash almost no matter what) or if you believe there is reasonable doubt, use an escrow service.

I think all of the risk is with the buyer. The idea of writing a contract is both expensive and utterly unenforceable. You'd have to work pretty hard to word any contingencies or exceptions and then all you've done is say your time is worth nothing because you're prepared to litigate. The buyer should walk away from any seller presenting a contract. The seller loses practically nothing other than the intangible cost of opportunity and the negligible holding costs.

Personally, I loathe selling items privately. It's just too much of a time sink and the logistics can be painful.

pitt911

After a couple of bad experiences with private sale , I'll never even think about doing it again . It was never about a deposit/money , as i did not lose anything, but about the aggravation and dealing with people that are not worthy of your trust or time .

bigkraig

+1, sold a car last year and there was a bunch of people that would come by and then it'd be to just look at the car, no interest at all in buying it.

bronson7

I just went through a private sell of a Pcar, fortunately it went fast and smooth, but really hate doing it and it's time consuming. Sometimes the little extra you get selling privately is just not worth it. I prefer the trade in to the dealer deal. Best of luck in the future.

dark knight

in some cultures they do this to you and its part of how they do business, after a dealing or 2 I quit doing it, one get kept string me along for a couple of weeks saying he was cming but then something alway came up, I would keep any deposit for opportunity cost and threaten to sue for breach of contract

Jimmy-D

Yeh - it sucks selling a car privately although when it works you net out better, in most cases.. I would of made them give a $5000 deposit and just sign a piece a paper that if they back out and you can not sell the car for equal value than they forfeit the deposit. How this holds up when the police show up at your house when he has a bat banging down your door is still another thing.

sccchiii

The fact is that it is hard to justify selling a late model anything privately if you live in a state that gives you a sales tax benefit for trading. In AZ for every $50k of trade allowance you save $4k+ in sales tax (assuming car purchased is more expensive) and most of the tax savings gets you pretty close to what your likely to gain by selling yourself (exceptions always exist). I know California is one that doesn't tax on sales difference after trade in so in that state it's probably worth the brain damage to sell privately, but with it comes time investment, lots of phone calls, and needing to be available to show to both real buyers and tire kickers....its what you are signing up for and yes people will and do back out for all kinds of reasons.