legal advice - selling car

[rhwimmers]

Going to sell a car to someone that I dont know. He is going to give me a down payment of about 600, then 3 pre-dated checks for 300 each (1500 total). Wondering if I write up a small "contract" stating if the funds do not clear what the repercussions would be etc...I also dont plan to give him the title until all checks are cleared etc - other than that is their anything I should worry about? Anyone have a "template" of some sort on what I should have him sign off on?

Thanks!
Ross

[Freed]

Ouch. Three pre dated checks? I wouldn't do it simply because that $600 may be the last of the funds in his account and then your crying because 3 checks don't get cashed cause there's no money in the account. Your call though.

[Wilafur]

i would not partake in that transaction.

1. if the checks bounce, you need to spend money, time etc to collect

2. if he wrecks the car and injures folks and you have the pinkslip, people can come after you

[kfisc]

The only template here is your gut instinct. Why would he be in the market for a $2,100 car for which he can't pay?

[der_wille_zur_macht]

. . . so he can rip someone off, part it, and jump town. :D

[Nina51]

i wouldn't do this even with somebody i knew. heck, i wouldn't do this for my own brother. there are far too many ways for you to lose every penny. nope, if he wants the car, i'd take cold, hard cash only. well, a money order would be ok too. just no personal checks and no promises.

[der_wille_zur_macht]

And no money order unless you go to the back with him to get it. It's not exactly challenging to fake one good enough that you don't know it's fake until a week after you hand it to your bank.

[Nina51]

<a href=showthread.php?s=&postid=7571674#post7571674 target=_blank>Originally posted</a> by der_wille_zur_macht
And no money order unless you go to the back with him to get it. It's not exactly challenging to fake one good enough that you don't know it's fake until a week after you hand it to your bank.

are you arguing with me?

[der_wille_zur_macht]

Go to your room!

[BrianD]

"go to the back"?

[der_wille_zur_macht]

Yeah, you know. That part of your body covered in 4" of thick black hair?

[Minuteman]

Yeah, I've heard this scam before. Generally speaking, you're not going to see any money beyond the initial $600 and there ain't anything you're going to be able to do about it, no matter what you sign. I'd send him off to the bank for an auto loan, otherwise you're making yourself an easy mark.

[Nina51]

<a href=showthread.php?s=&postid=7571895#post7571895 target=_blank>Originally posted</a> by der_wille_zur_macht
Yeah, you know. That part of your body covered in 4" of thick black hair?

so THAT'S where you get $$$??? dang! and here all this time, i've been going to the bank. can you go to just any back or does it have to be a special back? can you get interest free money at the back? i don't think you can get that at the bank so that would be pretty cool. can you get more $$$ from a hairy back than you can from a naked back?

[rhwimmers]

So having a contract he signs and whatnot wouldnt help out at all? I work at a bank (im in IT) - so not sure if that helps me out or not... He did offer to wait until he had all the money so I might just wait a few more weeks to sell it to him... So if I have the title Im responsible? Really?

Thanks
Ross

[cyclist1]

I would wait till he has all of the cash or make him take out a loan. If his credit is so bad that he can't get approval for a small loan, I would not trust him to have the money in the bank when the time comes for you to cash the checks.

[Freed]

Here, here. Wait a few weeks for the money. I bet he doesn't show back up but please keep us posted if he does or not.

[Nina51]

ross, a contract is worthless in this situation. you can't get blood out of a turnip. he could sign a hundred contracts and swear on the bible and his mother's life that he'll pay you but if the money isn't there, it just plain isn't there.

in the meantime, while you wait for him to come up with it, if you get another opportunity to sell the car, i wouldn't hesitate. chances are, you'll probably never hear from this person again.

[Ironsheikh]

you can get blood from a kneecap ...tell him pay up or youstuff him in the trunk

if he wants the car so bad he can get a loan from american general

one thing I know is he may want the car now and say he'll pay up but once he owns it...that little voice in his head will start saying "ah, I'll pay him later"

[dkh0331]

Turn the tables on the buyer. Tell him that you will take his $600 check and his three pre-dated checks. But you will keep the car, title and keys. When the third check clears the bank, then he can come by and pick up the car.

If he balks, then I would bet any mod's paycheck he had no intention of fully funding the pre-dated checks. If he takes you up on it, then its a good deal for you.

HTH

David

[Blindmelonbob]

I sold my motorcycle a couple months ago to my wife's cousin. Made the mistake of letting him take it for $600 less than I wanted with his word that he'd pay me the rest at the beginning of the month. Well, that month came and went, and another has started without the rest of the dough. Now I've paid it off and have the title. It's just awkward now. What's been said about selling a vehicle to family/friend is true...don't.