How much deposit?
Le Mans Master
Joined: Nov 2006
Posts: 7,215
Likes: 1
From: Orlando FL
Safety Car
Joined: Jan 2007
Posts: 4,735
Likes: 14
From: Visalia CA
Deposit
I left the seller $100 to HOLD the car for me. That was on a Saturday. I went back the following Tuesday with a Cashiers Check for $20,000. Now here's the weird part. We went to his bank, but they wouldn't cash it! They told him they would have to put a 14 day hold on it! Can you believe it! A CASHIERS CHECK! At his own bank! So we went to my bank. He wanted the CASH, but my bank (credit union) said they didn't have that kind of money on hand, and we'd have to go to the other branch. What a hassle. I'm thinking, Is this deal ever going to go down? So, we went to the other branch, and I wait for about 30 - 40 minutes while the teller, the branch manager, and the seller all count out $20,000 in cash, over and over and over! I finally got my Vette, and it was worth the wait! 
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I would agree with the $500-1000 down payment for the car. Make sure he understands it is non-refundable if he backs out. The longest I would wait for the deal to be completed would be about 5 business days.
Team Owner
Joined: May 2006
Posts: 21,473
Likes: 356
From: Palmdale, Ca----- 2009 Cyber Gray 4LT A6 F55 452 RWHP 422 RWTQ- RIP 1998 C5 734 RWHP & 585 RWTQ-----
$100 bucks non-refundable! At least it is not too much and you could say if a cash sale comes you'll inform him and see if he is ready to finish if not you could sell it then give the $100 back!
Just a suggestion, it gives you an out and not a whole lot of pressure for you just the buyer!
Thanks,Matt
Just a suggestion, it gives you an out and not a whole lot of pressure for you just the buyer!
Thanks,Matt
Melting Slicks
Joined: Feb 2007
Posts: 2,787
Likes: 139
From: center of Kalifornia
Some years ago I sold a motorcycle to a guy who gave me $100 to hold the bike. A few days later he said he did not want it. I said fine but when I sell it you can have the $100 back. Next day I had 6 bullet holes in my garage door where the bike was parked. Somehow missed the bike. I went to his work to find him he had quit. I kept the $100 and filled the holes. Never did find him. I never sell anything from my home, we meet at a cafe or bank.
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Safety Car
Joined: Jun 2006
Posts: 3,605
Likes: 2
From: Latrobe PA
Some years ago I sold a motorcycle to a guy who gave me $100 to hold the bike. A few days later he said he did not want it. I said fine but when I sell it you can have the $100 back. Next day I had 6 bullet holes in my garage door where the bike was parked. Somehow missed the bike. I went to his work to find him he had quit. I kept the $100 and filled the holes. Never did find him. I never sell anything from my home, we meet at a cafe or bank.
