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Old 09-26-2006, 06:32 PM   #1
dwaynesti
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Default leaving a deposit when buying a car

I need some opinions

I am selling an older car in the buynsell
first guy that comes makes an offer, I accept
he leaves a $500 deposit
and says he will come get the car on the weekend.

He now decides he isn't interested and wants his deposit back
reason being the car failed aircare last year..
When in fact it passed aircare, with the exception of the gas cap being leaky
which I replaced with new, and passed the full aircare later that day.

Do you think he is entitled to his deposit?
in the 6 days between him leaving the deposit to changing his mind
my insurance ran out, and I turned away 3 other potential buyers, who
i have no means to contact.

any opinions
I don't know if keeping his deposit makes me the dick
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Old 09-26-2006, 06:41 PM   #2
steve
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this reminds me of a saying "a man doesn't get rich by writing checks".

Basically you have the right to deny returning his deposit based on the loss of 3 potential sales. Problem is, that's not the right thing to do.

I'd tell him that you lost 3 potentials, and that you'll cut him a check for half the deposit. That will teach him to think twice about leaving a deposit when he's really not serious about the car.

Next time, write a little contract outlining that deposits are non-refundable, and that he has 5 days to accept or decline the offer, and have him sign it. It seems like a lot of work, but it takes all the guessing out of the deal.

good luck.
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Old 09-26-2006, 08:06 PM   #3
Necromancer
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Yeah, that's about right.

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Meh, you never know, the guy could have had some problem and it doesn't sound like you'll have that much trouble selling the car to someone else ... if it were me I would give him back his deposit with maybe a deduction for the cost of placing another newspaper ad or something. No sense in spreading frustration around the world...
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Old 09-26-2006, 08:42 PM   #4
semaj
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Half back is fair...since there was no written deal. My dad has had a bad experience with his old '67 Corvette: Some guy gives a $1000 deposit to buy the car pending "mechanical inspection" (all this in writing), the car passes the mechanical inspection, however the guy's bank wouldn't give him a loan. Then the guy demands his deposit back because he can't get the car. My dad says NO because in writing it says the "sale was pending mechanical inspection", not loan approval. So the guy freaks out and contacts his lawyer stating theft of $1000. The guy ends up getting $0 back, since my dad had the deal in writing, with the VIN number, date, and the details of the pending deal. Now, I ALWAYS get things in writing.
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Old 09-26-2006, 08:52 PM   #5
dwaynesti
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thanks for the opinions
I don't want to seem like I am stealing from some poor guy
I figure I will give him a call and reduce his $500 by at least the cost
to relist my car in the sun/province I think thats about $50

part of the deal we agreed on, was that he didn't want the stereo I had installed, and wanted the stock deck and speakers
I spent half a day removing my deck and speakers and putting everything back to stock.

I figure I will offer him $450 back, if he makes a fuss.
he gets nothing
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Old 09-26-2006, 08:58 PM   #6
Dalton
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Leave a deposit on his face.
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Old 09-26-2006, 08:58 PM   #7
Dalton
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Or leave your brown deposit on his deposit, then return it to him.
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Old 09-26-2006, 09:18 PM   #8
Necromancer
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Yeah, that's about right.

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Seems reasonable. The loss of $50 and the fear of losing the whole thing is probably enough to deter anyone from treating this kind of thing lightly.

Seems like the Canadian thing to do, too.
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Old 09-26-2006, 09:37 PM   #9
dwaynesti
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Damn looks like he gets nothing.
Called him up, explained my side of things,
and how when you put things in the buynsell you get lots of calls the first couple days, then it stops, and how I will need to relist the car somewhere
and think he should be responsible for that.

He tells me its his money, and wants it right now!
Not only that he wants me to drive it to his place, cause he has no car.
I tell him I will just keep it then and he can take me to court.
He then puts his daddy on the phone, who threatens me with jail
and tells me he is a cop. He goes on and on how this is my fault cause I lied about the car being aircared, and what I am doing is fraud, and I will get huge fines for lying about the car being aircared. I tried to explain to him
the car failed the gas cap pressure test, the cap was replaced and retested
and passed, hence the car is aircared. Some people...

Yeah $500 of mods for the sti
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Old 09-26-2006, 09:49 PM   #10
[YeS.SiR]
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Don't give him half back. That's not the point of the deposit.
Don't relist the car now, don't talk to him.

The $500 is his if he finds a buyer at the price agreed upon. You shouldn't be out money and you shouldn't have to do any more work. The onus is on him to get the car out of your hands: either by taking it or by finding someone to take it. He is free to negotiate a lesser price, but you should use the $500 as leverage.

That's exactly how I'd go about it with him. If he'd like oyu to sell the car now, then you'll take disbursements from the $500, like you said.
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Old 09-26-2006, 10:13 PM   #11
Dalton
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What a ****. VIC meet at that guys house.
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Old 09-26-2006, 11:07 PM   #12
420WRX
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If you leave a deposit at a dealer they don't give it back, it's a non-refundable credit against a vehicle, it's not 'stolen'.

Whenever you get someone who is claiming to be a law enforcement officer, ask for a badge no., detachment, and full name. If they are a real officer they will have the info and won't hesitate to give it.

If an officer is issuing verbal threats you can file a complaint, but that's dicey unless you are totally within your rights. I had a legit beef with an officer and I ended up infront of the chief of police for Victoria and the old bastard had the nerve to tell me that while I can file a complaint against his officer, they would also have to arrest me, process me, and include me in an ongoing investigation as a suspect. One permanent record in exchange for another? Totally pointless!

Anyways, I'm agree with Yessir; The guy owes you for the troubles you went through and agree that you must give him a set period to buy the car, broker the car, or somehow help you sell the car so you can finish the deal without 'stealing' anything. If he can't do that then the most he can expect is for you to take the money to re-list the car and you don't owe him anything until the car sells.
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Old 09-27-2006, 04:09 AM   #13
Spore
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420wrx, thats not true with regards to deposit money in dealerships

i remember 4 years ago when my mom was looking for a used golf (my subie's alternate choice of car) at the golf dealership in new westminister, she deposited $1000 to the car. But she insisted that the salesman must add a condition where she could get her deposit back when she didnt want to buy the car. Of course, she turned down that used golf and the dealership paid back the $1000 deposit.

As long as theres written proof, no one can argue about the deposit money.
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Old 09-27-2006, 04:53 AM   #14
know1
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with no contracts saying it's his it's yours
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Old 09-27-2006, 04:55 AM   #15
[YeS.SiR]
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Another note for the original poster: if you sell the car for less than the agreed upon price, make sure you have a document that outlines the sale price. You could probably keep the deposit in that instance.

If, however, you manage to sell the car at more than the agreed price, a court would make you give the deposit back, so as to 'make you whole', not to allow a gain. This is, of course, unless a court finds the other party's conduct in bad faith. Then, punitive damages might be awarded.
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Old 09-27-2006, 11:16 AM   #16
semaj
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Quote:
Originally Posted by [YeS.SiR] View Post
Another note for the original poster: if you sell the car for less than the agreed upon price, make sure you have a document that outlines the sale price. You could probably keep the deposit in that instance.

If, however, you manage to sell the car at more than the agreed price, a court would make you give the deposit back, so as to 'make you whole', not to allow a gain. This is, of course, unless a court finds the other party's conduct in bad faith. Then, punitive damages might be awarded.
Sounds like Matlock
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