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Private Car sale agreed - Deposit needed??

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  • 12-01-2012 12:34pm
    #1
    dec1892
    Registered Users Posts: 45 ✭


    Bit of advice needed on a private car purchase

    I have agreed in principal after seeing the car to buy it, price agreed....I have to ring the seller back later today to confirm with him that I'm willing to go through with it - this is pending it passes the inspection by a friend of mine who is a mechanic when I go to seal the deal this weekend

    Question I have is whether a deposit is expected from me for the seller to take the car off the market?
    What is the general policy when it comes to parivate sells?

    If deposit is expected, how much should it be?
    BTW, car is costing €16,000

    Thanks


Comments

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    #2
    MidlandsM
    Banned (with Prison Access) Posts: 5,737 ✭✭✭MidlandsM


    Yes, a deposit is the norm, €200 should suffice and get a reciept for it.


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    #3
    godtabh
    Moderators, Science, Health & Environment Moderators Posts: 23,209 Mod ✭✭✭✭godtabh


    MidlandsM wrote: »
    Yes, a deposit is the norm, €200 should suffice and get a reciept for it.

    Would that normally apply only if you are 100% certain to buy the car?

    I wouldnt put a deposit down until my mechanic has viewed it.


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    #4
    kildare.17hmr
    Closed Accounts Posts: 3,615 ✭✭✭kildare.17hmr


    Id want a posit if i was being asked to take down an ad, just make sure you meet him at his house and sign some sort of reciept. If i didnt have a deposit id sell it to the next person with cash


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    #5
    shawnee
    Registered Users Posts: 1,830 ✭✭✭shawnee


    godtabh wrote: »
    Would that normally apply only if you are 100% certain to buy the car?

    I wouldnt put a deposit down until my mechanic has viewed it.

    Well then that would be fine , but the buyer would not take the car off the market and may sell to another buyer. If you are happy with that then that's the way to go :P


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    #6
    NewApproach
    Registered Users Posts: 2,186 ✭✭✭NewApproach


    It's a private sale. If someone comes along and offers more cash don't be surprised if he takes it just returns your deposit. Deposits in private sales have little value imo.


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    #7
    MidlandsM
    Banned (with Prison Access) Posts: 5,737 ✭✭✭MidlandsM


    godtabh wrote: »
    Would that normally apply only if you are 100% certain to buy the car?

    I wouldnt put a deposit down until my mechanic has viewed it.

    yes, my answer was on the assumption that the mechanic gives it the all clear.


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    #8
    mullingar
    Registered Users Posts: 5,341 ✭✭✭mullingar


    If I was selling a car of €16k, I would not accept €200 deposit. 10% would be the going rate for a deposit, for me anything north of €1,000 would take it off the market.

    IMO buyers can easily walk away from a €200 deposit if they find something a bit cheaper soon after the deal was made, but not €1000+.

    But then again, in the current market maybe......


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    #9
    godtabh
    Moderators, Science, Health & Environment Moderators Posts: 23,209 Mod ✭✭✭✭godtabh


    I'd be worried about putting down a deposit only for my mechanic so say there was something up and being advised to walk away. You might find it hard to get a deposit back.

    I've never seen a car where I just had to put a deposit down because I'd be afraid its sold. Generally speaking there is a good selection of what I would be looking at for something similar to come up


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    #10
    650Ginge
    Registered Users Posts: 900 ✭✭✭650Ginge


    Would be mad to give a stranger a grand €100-€150 tops.


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    #11
    munsterleinster
    Registered Users Posts: 320 ✭✭munsterleinster


    As a seller I'd always look for a deposit.
    I've had someone walk away after leaving a €200 deposit. Sounds nice, but complete waste of 2 weeks and telling other genuine buyers the car is off the market.

    As a buyer, I'd be wary. As mentioned above, it doesn't stop the seller selling the car to someone else for a higher price.

    Maybe safest thing is to Paypal the deposit to them. At least you have some security if it goes tits up.


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    #12
    YBTurbo
    Closed Accounts Posts: 365 ✭✭YBTurbo


    As a seller I wouldn't take a deposit...

    Buyer mite take the piss and say it'll be a few days which could turn into weeks before he can get the rest of the money, Could turn into a tricky situation.

    As far as I'm concerned... If someone comes to look at it and is happy, I'll ask when can they pay and collect... Giving two or three days max. If they don't show, always have a few other buyers lined up.


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    #13
    Our man in Havana
    Closed Accounts Posts: 29,476 ✭✭✭✭Our man in Havana


    Paypal will not help you with any private sale if things go west.


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    #14
    Gary ITR
    Closed Accounts Posts: 16,801 ✭✭✭✭Gary ITR


    YBTurbo wrote: »
    As a seller I wouldn't take a deposit...

    Buyer mite take the piss and say it'll be a few days which could turn into weeks before he can get the rest of the money, Could turn into a tricky situation.

    As far as I'm concerned... If someone comes to look at it and is happy, I'll ask when can they pay and collect... Giving two or three days max. If they don't show, always have a few other buyers lined up.

    That's my take on it tbh


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    #15
    Carstuck
    Registered Users Posts: 439 ✭✭Carstuck


    I definitely wouldn't give up to a 1,000 deposit if I wasn't sure about the purchase. Wait until your mechanic looks over it first, the last thing you want is to give over a sum of money and regretting it.

    If he wanted a deposit before the mechanic would check it I'd just walk but thats just me. :)


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