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

[Daradon]

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.

It's very possible she is a nice person and is not a scammer but won't be able to pay when those cheques come due anyway. A lot of people who can't keep their finances together have good intentions, just little responsibilty with money. And she's obviously having money problems. Even if she's on the level, the smart answer is still no.

If it's too much for her, she should be looking at something cheaper. And if it is already cheap, and she needs to make payments, that's even worse!

And as mentioned, she can't insure if you still have the title. So it's sketchy all around. You don't need that trouble.

[calf]

Originally Posted by 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..

Hold on...you are delaying the sale, AND giving her a discount? What's in it for you other than a sale that still isnt guaranteed? Might not be a scam, but you might be getting hosed.

If you are going to hold it for her, at least get a deposit to make sure she is serious. And dont cash the deposit as a show of good faith if you wish. But until you get something from her you might be letting serious deals pass you by.

[MoneyGuy]

No, no, no. Is she asking you to insure it and she pays the balance later? Bad idea. What if she has an accident?

Keep the truck until she pays in full. I did this when I sold a motorcycle and it worked great for both of us.

[Galakanokis]

I'd be willing to take installments only if the truck remained in my possession. Once finally payment is received is all yours. Of course there's nothing stupid you from walking away with her money...

[Hugh Jahrmes]

Why don't you let me keep the funds and vehicle in trust. I will act as a third party mediator.

[Senator Clay Davis]

If she really wants the truck, and you essentially agree to the price, just wait until she has the full amount. Post dated cheques is asking to get ripped off especially since she is strapped for money. The only cheque you should ever take is a certified cheque which is guaranteed. Anything else can come back NSF, and if she does anything bad with the truck it's on you later on.

[puffnstuff]

What a coincidence...I just overhead a person laughing with her friends about scamming some guy out of his truck by using post dated cheques. Probably a different truck. Small world though huh?

[OzSome]

My brother sold his old car to this guy who gave him a post-dated cheque. He actually signed the bill of sale and let the guy registered the car. At the time he deposited the cheque it bounced and the guy was nowhere to be found. Stupid move on his part.

[pylon]

Don't do it.

[zyzz]

Originally Posted by calf

Hold on...you are delaying the sale, AND giving her a discount? What's in it for you other than a sale that still isnt guaranteed? Might not be a scam, but you might be getting hosed.

If you are going to hold it for her, at least get a deposit to make sure she is serious. And dont cash the deposit as a show of good faith if you wish. But until you get something from her you might be letting serious deals pass you by.

Yeah to be honest I just want to get rid of the thing, hence the discount and making it easier for her to come up with money

I knew right away it probably wasn't a good idea with the cheques, should've known better lol

[calf]

Originally Posted by zyzz

Yeah to be honest I just want to get rid of the thing, hence the discount and making it easier for her to come up with money

I knew right away it probably wasn't a good idea with the cheques, should've known better lol

Honestly, the deal you have with her isn't worth the paper it's written on...while I hope for the best, don't be surprised if she disappears at the end of the month. I'd give her the heads up that if someone meets your terms, that you'll sell to them instead, because that's business. Which could result in a few things:
1) She springs into action and meets your terms because she wants the vehicle
2) She holds onto hope that no one else bites and your current deal stays intact
3) She says screw it, and you both move on, hopefully you then get what you want.

[smoothpops]

why not take 15% deposit and tell her you'll keep the truck for the 3 months till she raises the money? the deposit just makes it so you won't sell it. that's pretty much the only way you don't get scammed. unfortunately for her, she would have to put her trust in you and hope you won't take the deposit and sell the truck anyways (which i'm sure you wouldn't, but how would she know?)

[DownhillGoat]

Originally Posted by smoothpops

why not take 15% deposit and tell her you'll keep the truck for the 3 months till she raises the money?

Because then he's sitting on a truck for 3 months instead of trying to sell it?

Kudos for being sympathetic, but unless this is a good friend or family member I wouldn't waste my time. It's a truck in a price range that hundreds of thousands of people in this city are looking for on a regular basis. If it's something that's extremely tough to sell, it might be a different question.

I wouldn't even bother with the whole deposit thing either. Tell her to call you when she has the money, leave it up for sale, and if someone else buys it before hand have the decency to call her and tell her it's sold. End of story.

[Handsome B. Wonderful]

You're selling a truck, not running a charity.

Come on. There's a severe lack of critical thinking skills going on here.

[strombad]

Originally Posted by Handsome B. Wonderful

You're selling a truck, not running a charity.

Come on. There's a severe lack of critical thinking skills going on here.

He's also allowed to sell his truck to whomever he wants, however he wants, and simply seems to be looking for tips so he doesn't get screwed over.

Whether he wants to "run a charity" and help someone out if he can is up to him, it has little to do with critical thinking.

[btimbit]

Post the truck? Maybe I'll take it, looking for a random project.

[calgarywinning]

I have a Nigerian former minister in finance that is very interested in this truck, but needs your bank account numbers and other pertinent information very expediently. The upside is that for your truck valued at 1700 he is prepared, and please don't tell this to anyone else, 24 million dollars, of which you can keep 90% as he currently seeking ways to expropriate money out of the country which is currently experiencing a regime change.

And this my friend is no different than a post dated cheque.

[Jacks]

Originally Posted by kunkstyle

Because then he's sitting on a truck for 3 months instead of trying to sell it?

Worst case he makes 15% on his money in 3 months, show me a better investment that is legal.

[oilyfan]

Originally Posted by Jacks

Worst case he makes 15% on his money in 3 months, show me a better investment that is legal.

I'll show you a better investment - take 100% from someone else today

[DownhillGoat]

Originally Posted by Jacks

Worst case he makes 15% on his money in 3 months, show me a better investment that is legal.

If it's a 15% deposit, that would go towards the purchase price of the truck. Assuming she buys it after the 3 months, there's no 15% being made. He just had the 15% until she paid the remainder in full.

So, if I'm reading this right, for him to make money, the 15% is either a price increase to cover the 3 month hold, or a deposit with the expectation that she won't take the truck at the end of 3 months, and the deposit isn't refunded. While maybe (?) that's legal, it sure as hell isn't moral.

Assuming this woman isn't running a scam and is just hard up for cash, we've gone from zyzz giving her a break on the price and holding it/contemplating a poor move of taking a personal post dated cheque, to making money off her? Am I completely misunderstanding this?

There's got to be a better way to make $200.