Edmunds.com | Inside Line | Auto Observer Your Account | Help | Directory
You are here:
![[F]](http://a332.g.akamai.net/f/332/936/12h/www.edmunds.com/media/townhall/webxicons/site.gif){kind=small}
Forums
Smart Shopper Questions About Private Sale Transactions
236 messages, Last post on Nov 20, 2009 at 5:18 PM
You are in the Smart Shopper Forum. Your Hosts are kirstie_h & tidester
|
|
|---|---|
|
Here's a situation - I want to buy a new car from a dealer after selling my old car in a private transaction. I test drive the vehicle I want and ask the dealer to hold it for a few days. From my online ad's, I agree to sell my old car to a buyer for $x. He comes over, test drives the car, finds everything OK, pays me a few $100's in good faith to hold the car for him. Now, he cannot get the title transferred because he has no valid U.S. drivers license - and consequently - no insurance. He's got an expired Kansas license, and is currently driving a rental car with some International Driving Permit. This is going on for about a week, and he just wants me to wait until he gets his license/insurance taken care of. Meanwhile, I am responding to other enquiries about my ad as "car is sold", since I have accepted his advance payment. Any advice on how long should I wait, or if I should let others come by and test drive the car? I am driving the car everyday for my commute, and not really worried about transportation, but this delay is getting a bit irritating. Thanks, - MS.
|
|
|
Replying to: msindallas (Oct 09, 2007 1:02 pm) Call him up.. give him his money back, and get your car sold... |
|
|
Replying to: msindallas (Oct 09, 2007 1:02 pm) |
|
|
Replying to: msindallas (Oct 09, 2007 1:02 pm) BTW, once you contract to sell a vehicle it is a good idea to park it lest anything bad happen to it prior to delivery to the buyer.
|
|
|
|
|
Buyer (me) and seller have reached a price. But, the car has a lien on it (auto loan through bank). In order to take title, loan has to be paid off. But seller needs my payment in order to pay off loan. Which means, I'll give the seller his money, and take possession of the car without a title, at least for a week or so. This sounds sketchy to me, especially since we are talking around $20k here. Is there a way set this deal on firmer ground? Should I cut the deal, even thou I'll initially be w/out title? TIA, Ed
|
|
|
|
|
Replying to: willieandyoda (Oct 11, 2007 2:09 pm) If not you can send the money to the bank and have them send the title directly to you. |
|
|
|
|
Replying to: cccompson (Oct 10, 2007 3:05 pm) I was trying to be nice to another gentleman, thats all. He didn't ask for a receipt about the advance, and I didn't give him one. We figured that if I could drive a car for so many years without wrecking it, I could be trusted for a few more days with it. That was our verbal agreement, so I could use the car for commute and car shopping for myself. I did have the insurance, anyways. This is why I didn't park it. If something happened to the car, I would have fixed it. Lets close this issue. I will keeping chatting on other threads about my new ride. Best regards to all of you, - M.S.
|
|
|
Replying to: msindallas (Oct 11, 2007 3:55 pm) That was a big mistake on both your parts. Always ask and give receipts over cash transactions. I wouldn't assume that just because someone hasn't wrecked their car they could be trusted. Enjoy your new ride, which was a...?
|
|
|
|
|
Replying to: jipster (Oct 16, 2007 6:29 pm) |
|
|
Hello all! I'm a small business owner in California and I just bought a minivan for my business for the first time. I bought it from a private seller. On the slip the seller sends to the DMV, there was a place that he could put my business name. On my side, I know I have to take the title to the DMV and register it within ten days. However, the application on the back of the title doesn't give me a place to put my business name. It just has a place for a person's name and their driver license number and for liability purposes, I don't want to use my name. Anyone ever bought a car for their business? What is the process to register the car at California DMV under the business name? Thanks.
|
|
You are here:
Forums
Smart Shopper Questions About Private Sale Transactions
New? Join Now!
Forum Tools
Search Forums
Browse by Vehicle
2010 Ford Mustang
Browse by Board
Browse by Topic
