Making SOR safer?
Discussion
Reading yet another sad concerning and frustrating SOR (Sale or Return) thread it's got me thinking. How can one make SOR safer? I'm not selling anything at the moment but the day may come?
As I understand it if a dealer sells your car and the money is in his account you are up the creek if he either fails to pay you, or worse he goes under.
So, what about if a customer delivers a car to a dealer where the dealer is purely acting as agent? Ie he demos, prepares and sells the car but payment is made directly to the owner (thus SOR must be declared to purchaser) and the vehicle owner then pays the agreed fee?
I of course appreciate that the dealer may now feel he is at risk, but the customer could deposit say half the anticipated fee with dealer thus his exposure is significantly smaller and exactly the same as the dealers (though dealer may have also incurred some costs).
Does this all make sense and more importantly will it stack up?
Edited for spelling
Edited again to add explanation of SOR
As I understand it if a dealer sells your car and the money is in his account you are up the creek if he either fails to pay you, or worse he goes under.
So, what about if a customer delivers a car to a dealer where the dealer is purely acting as agent? Ie he demos, prepares and sells the car but payment is made directly to the owner (thus SOR must be declared to purchaser) and the vehicle owner then pays the agreed fee?
I of course appreciate that the dealer may now feel he is at risk, but the customer could deposit say half the anticipated fee with dealer thus his exposure is significantly smaller and exactly the same as the dealers (though dealer may have also incurred some costs).
Does this all make sense and more importantly will it stack up?
Edited for spelling
Edited again to add explanation of SOR
Edited by Boshly on Saturday 11th June 13:57
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