So the potential Buyer for my car calls and sez - Mercedes-Benz Forum

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post #1 of 8 (permalink) Old 07-18-2009, 11:28 AM Thread Starter
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So the potential Buyer for my car calls and sez

keep the ownership in your name, store the car, keep it insured and I'll give you $10k [cash] now and another 4k in the next 4-5 months at which time we'll transfer it to his name

I'm trying to figure out what may be wrong with this- if he completes, I don't have a problem as the dealer would only "allow" 9k so I'm 5k to the good- am I being too anal? Why doesn't he just save his pennies and buy a bargain in the winter?

It's a 92 500SL, triple black, with 96,000 km, dealers have them on the lot for 15 and up, plus tax, with twice the mileage
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post #2 of 8 (permalink) Old 07-18-2009, 11:40 AM
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I don't see any down side as you have nothing to loose: Your car is worth $9k as Dealer trade in.
With this deal : You will have his $10K cash in hand, You will be keeping the car and title. Basically storing the car for him for a few months for another $5K (over what Dealer offers).
May be spend a few $ to have an Lawyer to draw up some legal paper.

Last edited by RKH; 07-18-2009 at 11:42 AM.
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post #3 of 8 (permalink) Old 07-18-2009, 12:34 PM
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My guess is that he wants your car at your selling price pretty badly and just doesn't have all the money right now. I'm with RKH about having some sort of legal document drawn up.

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post #4 of 8 (permalink) Old 07-19-2009, 06:59 PM
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Tell him to walk. You don't play games and you aren't a dealer. You aren't in the business of holding cars. If the car is still available in 4 months or whenever he has the cash, then he can buy it. Otherwise you will sell it to the first person who pays you in full before then.
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post #5 of 8 (permalink) Old 07-19-2009, 08:08 PM
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post #6 of 8 (permalink) Old 07-19-2009, 09:00 PM
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Any thing that can and does go wrong after the initial $ 10 000 is paid is your responsibility. Is it worth the risk for $ 4000 - its not really that much money in the grand scheme of things.


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post #7 of 8 (permalink) Old 07-19-2009, 10:45 PM
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He'll send you a MO for $12,000 and ask to pay the difference to his agent presenting the papers.
It is so called "Nigerian scam"
Can send you few of those MO for comparison.
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post #8 of 8 (permalink) Old 07-20-2009, 06:56 AM
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Potential Buyer Calls

First, you should absolutely draw up a contract but you do not need a lawyer. Show the down payment and set a date for the rest to be paid. The 10g should be a NON-REFUNDABLE deposit so if he comes up later and says he needs more time, the contract will be your way out.Then sell it to a legit buyer. Just make sure the car is not where he has access to it. Include the vin so if anything goes wrong you can show which vehicle is in the contract.
I had a similar situation several years ago where a lady bought a car from me. She asked if she could pay this much down and pay the balance in weekly installments. I told her to let me think about it a day or two. When she left, I had to ask a coworker if I heard right, weekly and not monthly. He heard the same thing so we set it up and she did just as she said she would.
As for the poster saying to watch for a scam, they are right. Always deal in cash in situations like these. This way if he doesn't come up with the cash and you sell it for the 14g and come out way ahead financially.

Last edited by bobbo1256; 07-20-2009 at 06:59 AM. Reason: Adding one more comment
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