What would you do.
Safety Car
Joined: Dec 2002
Posts: 4,338
Likes: 66
From: Whittier California
Melting Slicks
Joined: Sep 2011
Posts: 2,258
Likes: 543
From: Appleton WI
You had a contract (sounds like both verbal and written) and the deposit was to hold the car. It is considered non-refundable unless you agreed ahead of time that you would return it. So in my mind; the money is yours. I for one am tired of people who make empty promises and then expect me to continue to accomodate them. My time has a value and I don't appreciate people intentionally wasting it. Sounds like this person did just that. A phone call takes mere minutes at most and you deserved that courtesy. My guess is he wanted out of the deal.
If keeping it bothers you, donate it to charity. The buyer will have learned a lesson and someone who needs the money will benefit too.
If keeping it bothers you, donate it to charity. The buyer will have learned a lesson and someone who needs the money will benefit too.
Burning Brakes
Joined: Aug 2010
Posts: 1,060
Likes: 85
From: Richmond VA Everyone should have a VetteGuard
If you wrote it up and it was signed in the bill of sale that the $300 was non refundable, you can keep it. However is the $300 worth any additional hassel you may have with or get from this person? You need to ask and answer that. If it wasn't agreed to in advance well, you already lost the other car the $300 is for pain and suffering but again is it worth it. Maybe a partical refund, hey its' the season 
Racer
Joined: Nov 2011
Posts: 391
Likes: 4
From: New Lenox IL
St. Jude Donor '12
The whole thing sounds fishy to me, so I would keep the money, jmho.
The deposit was made in good faith to reserve the car for him and take it off the market of which you both agreed too. He didn't communicate the problem to you up front and you clearly suffered for the inconvenience so he should too.He didn't hold up on his end of the deal and to me he is lucky he is only out $300.
With that said, if you are the better man and decide to give it back, just be smart about it, do it via money order and take at least the fee's out that it will cost you to send it back to him. The only thing that could make this worse, is that is was a scam the whole time and he pegs corvette owners that have money and get them to send him deposit refund personal checks so he can now complete the scam and empty your bank account.
The deposit was made in good faith to reserve the car for him and take it off the market of which you both agreed too. He didn't communicate the problem to you up front and you clearly suffered for the inconvenience so he should too.He didn't hold up on his end of the deal and to me he is lucky he is only out $300.
With that said, if you are the better man and decide to give it back, just be smart about it, do it via money order and take at least the fee's out that it will cost you to send it back to him. The only thing that could make this worse, is that is was a scam the whole time and he pegs corvette owners that have money and get them to send him deposit refund personal checks so he can now complete the scam and empty your bank account.
Burning Brakes
Joined: Jan 2011
Posts: 1,062
Likes: 291
From: Allyn WA
This is a easy one! Keep the money. He easily found out your car was over priced and found another Corvette at a lower price, then came up with the sick mother excuse in a attempt (lame) to get you on your genorous side to return the deposit. I doub't he expects you to give the money back. Good luck finding another guy to buy your car at that price!
Instructor
Joined: Sep 2010
Posts: 204
Likes: 0
From: Naperville Illinois
Keep the money. Look at it this way...how would he have felt if, after he gave you the deposit, someone came along and offered you more for the car, so you took that new buyer's money and then called him several days later (after he tried to reach you but you were conveniently not available) to say "oh, I'm sorry, someone offered me more". His argument would be that you couldn't do that because he gave you a deposit, right?
So, both parties need to honor the idea of the deposit. I also have issues with people that say they had no way to call someone. This isn't the age of pay-phones. Everyone has a cell phone. Heck, you can even call someone from a computer without a phone.
You had expectations of selling your car to buy another one, you held it in good faith and he didn't hold up his end.
No hard feelings either way, but business is business - the $300 is yours.
So, both parties need to honor the idea of the deposit. I also have issues with people that say they had no way to call someone. This isn't the age of pay-phones. Everyone has a cell phone. Heck, you can even call someone from a computer without a phone.
You had expectations of selling your car to buy another one, you held it in good faith and he didn't hold up his end.
No hard feelings either way, but business is business - the $300 is yours.
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Pro
Joined: Apr 2009
Posts: 734
Likes: 2
From: Mt. Airy MD
Return the money. Its weighing on your conscience and it will free you up to do as you please without worrying about dealing with someone who may react quite inappropriately to you keeping the $.
Next time if you feel like taking a deposit, be very clear with the potential purchaser that if they renege on the agreement their deposit will be lost (and document that fact). That way you will have no guilty conscience and they will have incentive to make right on the deal they agreed to.
I took a deposit ($1000) on my last vette when I sold it. Good thing for the purchaser too because it took him about a month to get his money moved around to make the purchase. I might have sold the car to someone else had he not given me a deposit. But he did and I honored my end of the bargain. To be honest though if he had backed out of the deal I would have still given him back his $. I have no interest in getting into the "legal" aspect of keeping someone's deposit no matter what my rights would have been. I don't need any more negative karma in my life.....
Next time if you feel like taking a deposit, be very clear with the potential purchaser that if they renege on the agreement their deposit will be lost (and document that fact). That way you will have no guilty conscience and they will have incentive to make right on the deal they agreed to.
I took a deposit ($1000) on my last vette when I sold it. Good thing for the purchaser too because it took him about a month to get his money moved around to make the purchase. I might have sold the car to someone else had he not given me a deposit. But he did and I honored my end of the bargain. To be honest though if he had backed out of the deal I would have still given him back his $. I have no interest in getting into the "legal" aspect of keeping someone's deposit no matter what my rights would have been. I don't need any more negative karma in my life.....
Melting Slicks
Joined: Jan 2007
Posts: 2,170
Likes: 6
From: Oilerville Edmonton
St. Jude Donor '08
keep his money and donate it to charity. as you said, its Christmas...lots of charities could use te $$. I bet he found a cheaper car elsewhere and is just backing out.
Race Director
Joined: Aug 2003
Posts: 16,270
Likes: 30
From: "It's 106 miles to Chicago, we've got a full tank of gas, half a pack of cigarettes, it's dark, and
St. Jude Donor '03-'04-'05-'06-'07-'08-'09-'10-'11-'12-'13-'14-'15-'16-'17-‘18-'19
NCM Sinkhole Donor
4th Gear
Joined: Apr 2010
Posts: 4
Likes: 0
From: Houston Tx and got some Englangreen Necessary Evil
He placed a deposit for car and you took it off the market and started dreaming about your z06. He cost you your z06 and wants his money back. When anyone puts money for deposit it is usually understood it is non refundable. If money was an issue with him he would have called sooner even if someone was sick. Do not let people push you over unless you now for sure someone was sick in his family. He wasted your time and your dream car. Now go get a cam and headers and do not worry about the z06.
Racer
Joined: Jul 2010
Posts: 262
Likes: 0
From: Jefferson City Missouri
The Pros and Cons of this discussion are both convincing and legitimate issues. IMO legally the money is yours so no problem in your keeping it. Morally, IF YOU FEEL KEEPING IT MAY NOT BE RIGHT, return the money and don't look back. You are the better man for it.
Thread Starter
Drifting
Joined: Jul 2004
Posts: 1,410
Likes: 72
Where I didn't have any money loss on my side. I only put it on Craig's list and it is Christmas. I called him back and told him he could have his deposit back. I don't think he would have ever done anything to me or my cars. Didn't fit the profile. He's in his late 40's and wears a suit all the time or at least the two times he came to look at the Vette. Plus he's probably 100 pounds lighter and 3 or 4 inches smaller than me. My wife said to give it back also and she's not bigger than me but is a lot meaner
Everyone have a great Holiday season.
Dave P.
Everyone have a great Holiday season.Dave P.
Melting Slicks
Joined: Jan 2007
Posts: 3,332
Likes: 46
From: Bowling Green KY
Le Mans Master
Joined: Oct 2007
Posts: 6,868
Likes: 770
From: Kelso Washington
St. Jude Donor '09, '13, '15
That was going to be my suggestion as well.