Help selling my used car - Wants to pay with post dated cheques

[zyzz]

Basically gave this lady a test drive in my truck, she likes it and wants to pay the full asking price, she however wants to make the payment with 3 postdated cheques due to being strapped for money. She said something like I would hold the title of the truck until payments were made.. How does something like this work? She seemed trustworthy but who knows what could happen in a situation like this. Advice cp?

[undercoverbrother]

Something like this does not work.

She can't insure it while you "hold title".

Tell her to pound sand.

[Canehdianman]

Yeah I wouldn't do that. Tell her to go get a loan.

[zyzz]

It seemed pretty sketchy, she seems like a really nice person but you can never be so sure.. It could be pretty easy for her to just vanish.

[strombad]

Post dated for how long?

The only deal I would make with her is that you'll "hold" the truck if she gives you the first payment, and then she'll receive it once you get the full amount.

She's asking you for the truck without paying for it, so I would ask for money without giving her the truck and see how open to that she is.

[Derek Sutton]

No No No, do not accept cheques. Its Sunday, three days for a cheque to clear and she could literally be in Mexico by then. Post dated just adds to the suspicion. You could hold the title forever but if the vehicle is stripped and sold off what good does that do?

[Derek Sutton]

Originally Posted by zyzz

It seemed pretty sketchy, she seems like a really nice person but you can never be so sure.. It could be pretty easy for her to just vanish.

Of course she seemed nice, thats how scammers work. Sorry i'm so negative but all it takes is to be burned once and you learn. I got screwed when selling my Sega Genesis back in 1996.

I hate selling stuff of any value privatley. I sold my last two vehicles via consignment, hassel free for me and got about as much as I would have by selling myself.

[btimbit]

Sure, but keep the truck and don't sign it over until the last cheque clears. Don't get to buy anything until payed in full.

[zyzz]

Originally Posted by strombad

Post dated for how long?

The only deal I would make with her is that you'll "hold" the truck if she gives you the first payment, and then she'll receive it once you get the full amount.

She's asking you for the truck without paying for it, so I would ask for money without giving her the truck and see how open to that she is.

This isn't a bad idea, I've got a spot I could park the car. She wanted to pay a portion now, and then pay the rest later in 3 installments. Only selling for 1700, I told her I had to do some research on it before agreeing on anything..

[oilyfan]

She is asking for financing from you, this wont work because what recourse would you have if her cheques bounce?

[Derek Sutton]

Originally Posted by oilyfan

She is asking for financing from you, this wont work because what recourse would you have if her cheques bounce?

Or if she "forgets" to sign one, never accept personal cheques.

[zyzz]

This is why I love CP, getting answers within minutes! Best route will be to hold the truck for her until full payment is received. Not sure why I never thought of this LOL.

At the same time though, she probably wont want to put any of her own money down with the same fears I could just vanish.. All around it's probably just a better idea to tell her if the truck is still around in 3 months she can buy it... Thoughts?

[Machiavelli]

Just sell to someone else who will give you the full amount upfront. Why should you have to act as a personal loan service?

[undercoverbrother]

Originally Posted by zyzz

This is why I love CP, getting answers within minutes! Best route will be to hold the truck for her until full payment is received. Not sure why I never thought of this LOL.

At the same time though, she probably wont want to put any of her own money down with the same fears I could just vanish.. All around it's probably just a better idea to tell her if the truck is still around in 3 months she can buy it... Thoughts?

No the best route is to sell the truck to someone that can afford $1700. No offence but that isn't a lot of money. If it is to her, then she shouldn't be buy it.

[wretched34]

If you're in no rush for the cash, holding it for someone who is obviously struggling, would be a very kind gesture. However, the situation absolutely screams scam, or just total lack of common sense on the buyers behalf, if she actually thinks someone would let her drive away, in their vehicle with out a penny being paid.
As noted before, her "allowing" you to keep the 'title' in your name, does nothing for you, infact, all it does is leave you legally responsible for anything that happens while she is in possession of the truck.. Photo Radar, red light camera, parking tickets, and that could be minor issues, say she robs a bank, leaves a body in the cab and leaves it on the side of the highway. There is far more than just getting ripped off for the asking price, at stake.
If you feel like being a nice guy, and paying it forward, offer something like, 3 post dated cheques, 2 for $600 each, 1 for $500, tell her she can pick up the truck after the second cheque clears. worst case scenario you're out $500, best case, you helped out someone in need, and you both prove there are still trustworthy people in the world.

[zyzz]

Just got off the phone with her, basically told her I'd be willing to hold the truck for a week without selling it to anybody and that'll give her time to maybe get a loan from family or friends, she said the truck really fits what she's looking for. She said she could afford to outright buy it by the end of the month but money would be tight, so I said I'd be even willing to hold off buyers until then and take off a few hundred buck then just take the cash payment..

[jammies]

15 posts and nobody has asked if she's hot? CP, are you growing up?

[zyzz]

Payments in BJs? Would CP approve of this?

[Dion]

Sell to the first person that comes up with the cash. There's no gaurentee she's going to have the money at the end of the money. Stop feeling sorry for her.

[wretched34]

Originally Posted by zyzz

Payments in BJs? Would CP approve of this?

I'd approve, of course the first would have to be free, to set a baseline for value, and payment would have to be made daily.