What would you do.
Thread Starter
Drifting
Joined: Jul 2004
Posts: 1,410
Likes: 72
What would you do.
I have a beautiful 02 yellow convertible with a few tasteful add on's. Nothing that can't be removed and Vette put back to stock. I have just over 5000 miles on it. I was thinking about selling it to bid on a low mileage super charged Z06 that was on ebay. I was asking $32K for it. I know, top dollar but it's a brand new car or better in every way. Anyways, I have a guy come check it out, falls in love with it and dosen't dicker in any way. Gives me a $300 deposit and says he will give me the rest on the 12th. We write up a bill of sale and everything. The 12th comes around and no money. I call him and leave him message after message on his cell phone with no response. I lose the bid on the Z06. Today he calls me and says his mother was sick and that he had to fly back east and didn't have anytime to call me or arrange for the money. Says that he won't be able to buy the Vette and wants me to give him his deposit back. This was all left in a message on my home phone, not even my cell phone. He had both. I haven't called him back yet. Should I give him his deposit back. I'm pissed at not getting the Z06 but I feel funny about keeping the money, especially at Christmas time. What's the right thing to do guys?
Pro
Joined: Nov 2009
Posts: 606
Likes: 18
From: burke va
No time to call you? Keep the $300. If he did not even try to talk you down to $30,000 he must have plenty of money. On the other hand, if he lives near you and is pizzed he may try to do something stupid. Just let people know in the future the deposit is non-refundable.
Last edited by egrand333; Dec 19, 2011 at 05:52 AM.
Race Director
Joined: Mar 2003
Posts: 10,789
Likes: 894
From: Northern Illinois
Oldtimer
If you feel funny about keeping the $300, follow your heart and give it back to him. Even though you missed out on the Z06, you still have an awesome car. Who knows, maybe it's a blessing in disguise. Not only will you feel better, but it's the right thing to do. 
Drifting
Joined: Nov 2003
Posts: 1,645
Likes: 65
I would call him back and let him know you held the car for him, that is very disappointing and cost you. Negotiate an amount, that is not to say the amount is it is zero or $350 and I agree with the next potential buyer make sure he realizes it is a non refundable deposit.
Race Director
Joined: Oct 2004
Posts: 13,597
Likes: 1,353
From: Home of the VOLS ! Knoxville, TN. Tennessee
St. Jude Donor '11-'12-'13, '15, '16-'17-'18-'19
Do what's in your heart. The Z06 was not meant to be yours is how I would look at it, and who knows maybe it was a good thing.
Melting Slicks
Joined: Mar 2008
Posts: 2,453
Likes: 347
From: SC
Be the better man, and refund his money.
Race Director
Joined: Jul 2007
Posts: 18,681
Likes: 47
From: Reno is so close to Hell you can see Sparks , State Of Confusion
St. Jude Donor '12-'13-'14
Keep the deposit, You lost out on a car you wanted and tell him that. Did you write anywhere in the Bill of Sale, Non Refundable deposit?
Mr.Bill
Mr.Bill
Corvette Stories
The Best of Corvette for Corvette Enthusiasts
Top 10 Most Expensive Corvettes Ever Sold on Bring A Trailer
Brett Foote
10 Things Every Corvette Owner Needs (2026 Edition)
Michael S. Palmer
8 Most "Only Corvette Owners Understand" Quirks and Problems
Pouria Savadkouei
10 Reasons the C6 Z06 is Still A Performance Benchmark After 20 Years
Joe Kucinski
How Much Horsepower Every Corvette Engine "LOST" in 1972
Joe Kucinski
Top 10 DOs and DON'Ts for Protecting Your Convertible Top!
Michael S. Palmer
Top 10 Most Explosive Corvettes Ever Made: Power-to-Weight Ratio Ranked!
Joe Kucinski
150 hp to 1,250 hp: Every Corvette Generation Compared by the Specs That Matter
Joe Kucinski
8 Coolest Corvette Pace Cars (and Replicas) of All Time
Verdad Gallardo
Safety Car
Joined: Oct 2011
Posts: 4,831
Likes: 21
From: The Voice of Reason!
St. Jude Donor '14
The whole point of a deposit is for you to hold the car for him. You did your part and have every right to keep the money. But if you are not comfortable with it, return the money. I was stuck in a similar situation, though not a deposit it involved about $200. I had a couple of weeks to think about it and ultimately it cost me about $200, but I felt it was the right thing to do and don't regret my decision.
Banned Scam/Spammer
Joined: Feb 2007
Posts: 50,093
Likes: 267
From: Oklahoma City
St. Jude Donor '09-'10-'11-'12-'13-'14-'15-'16-'17,'19,'22
I would refund it especially if he knows where you stay. Not worth the trouble that could come.
Stuff like that is why I hate trying to sell a car.
Stuff like that is why I hate trying to sell a car.
Racer
Joined: Jun 2008
Posts: 387
Likes: 2
From: Grafton Wisconsin
Return the $300 to clear your mind
You are right - he wronged you. However, it sounds to me like this will bother you ongoing. Cut your losses and give him back the $300. Move on - more happens and less matters.
Vetterway
Vetterway
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-----
Deposits are a loss for the buyer, non-refundable. If you had put a deposit on the SC C5 Z06 you would of lost it yourself!!!!
$10 says he found a cheaper C5 with more miles and bought it instead of the sick mother story BS
Keep the money and Supercharge you low mile C5 NOW!!!
Thanks,Matt
$10 says he found a cheaper C5 with more miles and bought it instead of the sick mother story BS
Keep the money and Supercharge you low mile C5 NOW!!!
Thanks,Matt
Team Owner
Joined: Jul 2006
Posts: 22,182
Likes: 4,178
From: Kannapolis NC
You can certainly do whatever you like, but why even take a deposit if it's refundable? Just tell a potentilal buyer you'll hold the car for them, and then do that. If you for some reason don't sell a car you have taken a deposit on, you are obligated to return the money. Shouldn't it work both ways?
My direction would be that the car is for sale until the money is received. If you are a buyer, give me the money. Otherwise, make the deposit reasonable and non-refundable to weed out tire kickers.
My direction would be that the car is for sale until the money is received. If you are a buyer, give me the money. Otherwise, make the deposit reasonable and non-refundable to weed out tire kickers.
Le Mans Master
Joined: Jan 2004
Posts: 9,488
Likes: 1,743
From: Knoxville Tn
Call him back. Tell him if he returns your call within 5 days, you'll give him $150 back, since you feel it cost you time and effort in your quest for gettting the car your craved. If he doesn't call back in the 5 days, keep all the money.
Burning Brakes
Joined: Jul 2010
Posts: 835
Likes: 4
From: Los Angeles CA
Team Owner
Joined: Mar 2004
Posts: 58,501
Likes: 1,827
From: Oklahoma City OK
C6 of Year Finalist (appearance mods) 2019
It's wrong for him to ask for his money back! You took the car off of the market for him and that's what the $300.00 was for. He would have come unglued if he would have put the money up and you'd have called him and wanted to give his money back because you sold the car to someone else.
