Deposit on 3.5k Car ???

mgbgt1978

Hi all, I'm selling the Mrs's Yaris. Had a phone call last night from a guy who is coming to look at it today. Just at the end of the conversation he mentioned that he would leave me a deposit if he was happy with the car.

He was gone before I had a chance to say anything else.

Should I ring him this morning before he drops over and explain that it's a relatively cheap car and I am not prepared to hold it for him on the strength of a deposit. I'm then missing out on other potential buyers and he may well decide not to complete the purchase.

Any ideas on how to word this to him without upsetting him too much ???

mary 2021

tell him you need to sell the car as you have some bills to meet urgently and holding will delay you paying the bills, so unfortunately its a buy its a"see it buy it on the spot situation !"

Allinall

Tell him you'll take the deposit, but if someone else is prepared to pay more in full you will give him the option to match the new price, otherwise you will repay him the deposit.

User1998

https://www.boards.ie/discussion/comment/118718251#Comment_118718251

Whats the point in giving the deposit then?

Allinall

https://www.boards.ie/discussion/comment/118719162#Comment_118719162

To have first call on the car.

Gant21

Generally speaking anyone who puts a deposit down is a serious buyer. They may need time to get insurance in order etc.

You have a massive storm in your tea cup there op.

User1998

Is your phone falling off the hook with other potential customers tho? Do you have anyone else lined up to buy the car? You can explain in person that the deposit is non refundable and has to be a substantial like €200 or so, not €50. The car can be held for 1 or 2 days, no more than that as you have other potential customers.

Atlantic Dawn

A few things...

• I wouldn't be holding the car for him now or telling other potential buyers he is coming out to take it, if someone calls in the meantime and wants to buy it they beat him to it, tough. He may never show, could be an armchair classifieds caller, lots of them around since Covid and ruins potential sale to others.
• When he comes out and wants to put a deposit down don't be under too much pressure to accept a low ball offer, a Yaris will sell itself, plenty more people will have interest.
• If he puts a deposit down give a strict limit on when you want final payment, make it clear to him that if full amount not given at that date he loses the full deposit.

Gant21

Get a €500 deposit off whatever buyer comes to your door. Too much girl talk over nothing. End of story.

Toyotafanboi

I think you're overthinking it.

People usually say that just to show that they are serious.

Generally if someone gives a deposit on a car like that it's to hold it for a short space of time, a day or two tops. Until they can organise a lift back to collect/ organise insurance/ withdraw cash etc. He's not going to ask you to keep it a fortnight.

You'll probably spook him if you go oj a spiel about full cash on collection etc.

Wildly Boaring

It's normal to leave a decent deposit (200 or 300) in exchange for the log book for a day or two.

Maybe it's foolish I dunno, but I've done it

mgbgt1978

I'm saying nothing Wildly Boaring.

I'm sure others will agree with the 2nd part of your post shortly 😀

Wildly Boaring

Well I've bought cheaper cars like that

Meet, drive, inspection.

Leave a deposit and take log book.

Sort insurance and cash.

Return for car with cash or draft, meeting somewhere safe, bank etc.

I don't meet at random houses or carparks with €1000s in my pocket

Explosive_Cornflake

https://www.boards.ie/discussion/comment/118721080#Comment_118721080

Makes complete sense to me.

You can't show up to a random persons house with 5,7, 10k in your pocket.

Find there is no car, get robbed.

Deposit is protecting him from the unknown.

JustJoe7240

https://www.boards.ie/discussion/comment/118721080#Comment_118721080

People hand over a log book in exchange for a deposit? Are people that stupid?

Toyotafanboi

Yeah, i wouldn't give the logbook to anyone. That's the ownership of the car, i dare say it's more important than they keys. You're not even supposed to give it to the new owner post purchase. Terrible idea to give it to anyone.

Atlantic Dawn

Any white smoke OP, did he show?

User1998

Handing over the logbook in exchange for a deposit is madness. Never heard of it before

Wildly Boaring

Well I've got logbook 4 or 5 times off lads when buying and giving deposit.

Not like I'm going to run off with it once I've given a 300 quid deposit. And I'm not going to give a 300 quid deposit for nothing.

And I didn't invent the idea either.

mgbgt1978

https://www.boards.ie/discussion/comment/118721907#Comment_118721907

Pretty much as expected. Phoned to say he couldn't make it today.

But the good news is he's going to ring tomorrow to organise a time.

Can't wait.....

Wildly Boaring

https://www.boards.ie/discussion/comment/118722080#Comment_118722080

The joys of selling.

Not often these timewasters come good. But you often get lot of Friday calls for Saturday looks

HalfAndHalf

I’m dying to know why people need the logbook for a couple of days!

Atlantic Dawn

https://www.boards.ie/discussion/comment/118722080#Comment_118722080

I'd just blacklist him and go out of your way to sell it to anybody else.

Aint Eazy Being Cheezy

I left a deposit once. Only for a day or 2, I forget. It was for a runabout for herself, she wanted to be there to view it, but she’d be a nervous driver, and didn’t want to test drive it or drive it home in the dark. €50 on a €2k car. Didn’t really wanna meet some random bloke on a winters evening carrying wads of notes with me either.

No issues whatsoever, transferred insurance next day, texted the bloke, got a friend to bring me out, paid the balance, signed the book and job done.

Toyotafanboi

Probably spooked him 😅

I'd have no problem holding a car on a deposit for a day or two. In all the cars i've sold i've only once ever had a lad ghost me after the deposit stage and sure that was grand really he never contacted me again and i couldn't contact him so i got to keep the deposit and sell the car again.

That being said, i wouldn't wven consider holding a car without a deposit, that's a mugs game.

Henry Ford III

1/. Take a deposit.

2/. Write out a receipt with the terms on it. For example - "Non refundable deposit of €500 on 88D6883. Balance of €2500 due in full before xyz date".

3/. Both sign it.

Job done.

HalfAndHalf

https://www.boards.ie/discussion/comment/118721956#Comment_118721956

So why do you need to take the logbook?

Wildly Boaring

https://www.boards.ie/discussion/comment/118725663#Comment_118725663

Honestly I just assumed it was the done thing.

Bought my first car at 19 or 20 and local lad gave me it when I gave deposit.

Seemed sensible. No body has objected since.

Thinking back I've bought 6 cars/vans private over the years.

Still don't see the huge issue.

Sure you learn something new everyday.

cpoh1

https://www.boards.ie/discussion/comment/118726302#Comment_118726302

Seemed sensible? You are handing over proof of ownership for a car that has not been paid for nor is in the possession of the person all on the basis of a commitment to buy via a small deposit? Are you off your game?

HalfAndHalf

https://www.boards.ie/discussion/comment/118726302#Comment_118726302

The logbook is literally the proof of who owns the vehicle.

You don’t need it to arrange insurance or anything else so I’m amazed anyone with half a brain cell would hand it over and still oblivious as to why you’d even ask for it.

It’s a mad ol’ world!

Wildly Boaring

@HalfAndHalf@cpoh1

Sure it's easy pile on

Typical motoring forum

HalfAndHalf

https://www.boards.ie/discussion/comment/118727678#Comment_118727678

What’s the issue? We don’t get why you take the logbook and you haven’t given any logical reason other than you thought you should.

What do you do with it?

Wildly Boaring

It's collateral.

That was obvious from post 1.

I don't trust people I don't know with my deposit. And it's worked fine 5 or 6 times for me. And it'll work the next time I buy too.

But probably best not give it out to anyone so 😁

Ginger83

https://www.boards.ie/discussion/comment/118722121#Comment_118722121

Because if you give over the log book how can you effectively sell to another buyer without it.

It's a way of holding the car.

HalfAndHalf

https://www.boards.ie/discussion/comment/118727934#Comment_118727934

So you don’t trust people to hold it with a deposit, because they might sell it to someone else, because you don’t know them so you think they’re untrustworthy.

You don’t trust people to go and look at the car with the cash to buy it, because they might be dodgy and rob ya, because you don’t know them so you think they’re untrustworthy.

But you expect them to trust you with the logbook, because they don’t know you but you’re trustworthy.

So you hold their car hostage till you decide to pay for it! Yet they’re the untrustworthy ones!

Jaysus that’s messed up on a lot of levels! 🤦‍♂️

HalfAndHalf

https://www.boards.ie/discussion/comment/118727949#Comment_118727949

It’s a completely bad faith move is what it is!

Wildly Boaring

I'll leave it. Youre mad as a brush.

"Holding car hostage" 🤣

maestroamado

https://www.boards.ie/discussion/2058235485/deposit-on-3-5k-car

I would send a text that because there is more interest you need to allow the others chance to buy so you cannot hold...

You do not want people calling unless they want to buy...

https://www.boards.ie/discussion/comment/118728291#Comment_118728291

This has to be a wind up 😂

Ginger83

https://www.boards.ie/discussion/comment/118728066#Comment_118728066

Yes it's bad form. I learned the hard way before. I sold a car to someone and foolishly handed over the log book. This resulted in 4×€147 fines from the m50 toll.

HalfAndHalf

https://www.boards.ie/discussion/comment/118728291#Comment_118728291

Sure you should read what you’re saying, nobody’s for trusting and you won’t leave a deposit to hold it but you’ll have the logbook so they can’t sell their own car! What’s to say you’re trustworthy and don’t do a runner with it. Sure why don’t you take the car too just to be sure!

You’re one dodgy operator and a total hypocrite on top!

Wildly Boaring

You're reading what you want to read.

Have always left a decent deposit.

Have never "Held a car hostage"

Now I'm a dodgy operator. For buying people's cars as agreed.

Christ what skin is it off your nose that I had the logbook from deposit till payment. And payment has always been prompt and in full.

Dodgy operator!!

User1998

https://www.boards.ie/discussion/comment/118728604#Comment_118728604

He literally just explained how he buys cars. He’s not even defending it or arguing his case? I would laugh at someone if they wanted my logbook but each to their own.

I do hate leaving a deposit myself as I’m always afraid they will sell the car anyway and keep my money.

wandererz

Hahaha.

This is hilarious.

Do you guys own your own homes?

I will give you €4K for the deeds to your home.

I promise to pay the rest in full on Monday!

Wildly Boaring

Strawman....

Dakota Dan

https://www.boards.ie/discussion/comment/118721080#Comment_118721080

I doubt any seller will hand over their log book after getting a deposit.

Dakota Dan

https://www.boards.ie/discussion/comment/118721956#Comment_118721956

Yet you don’t trust the owner while you expect them to trust you, what if some messer came along and gave a few hundred deposit then drag the whole thing on for weeks?

Buddy Bubs

Give log book? Are ye mad? Another buyer will be along soon

Dakota Dan

https://www.boards.ie/discussion/comment/118724963#Comment_118724963

It wouldn’t be worth the paper it’s printed on without a witness on both sides to prove it.

horse7

Your supposed to send the certificate to Sligo (I think) it's written on the certificate. They forward it to the new owner updated.

crinkley

what idiots are handing over log books for a measly deposit - do not do this. The couple of times I have bought a second hand car privately I went to see it without the cash and if I liked it called back later or the next day with the money. If they sold it in the mean time then it wasn't meant to be