Sale or return!!

[G20RG B]

My brother is about to hand over his 98 Porsche Carrera to a garage on a sale or return basis!
What are the pros and cons of doing this, what if the dealer sells it then doesn't hand over the cash!!
Has anyone done this and if so can you give me some advice to pass on!!

Thanks in advance
George

[bigmoose]

Hi,

The best way to do this is to get a contract drawn up stating what the dealer is going to return to you once the car is sold. Take copies of all paperwork that you are handing over. There are always pitfalls but ensure that the garage is reputable and trustworthy, and a sneaky little trick is to hand over one key and say you have 2 but cannot find it and will hand it over as soon as you do (when the garage phones to ask then they have a buyer....)

Alex

[Ozzie Osmond]

G20RG B said:

My brother is about to hand over his 98 Porsche Carrera to a garage on a sale or return basis!

What do you mean??

1. He's filled in the V5 and sent it off to DVLA saying the car's been sold to the garage without receiving any money - in which case he's an idiot

or

2. The car is sitting on their forecourt and if they find a buyer your brother transfers the car to the garage or direct to the buyer in exchange for money, with the garage taking a commission on the sale - which is absolutely fine.

[Wacky Racer]

G20RG B said:

My brother is about to hand over his 98 Porsche Carrera to a garage on a sale or return basis!
What are the pros and cons of doing this, what if the dealer sells it then doesn't hand over the cash!!
Has anyone done this and if so can you give me some advice to pass on!!

Thanks in advance
George

I left my Triumph motorcycle with a large main Triumph dealer, (long established) on SOR. They sold it the very next day, never told me for two weeks, after a three week struggle and umpteen phone calls I received my money....(In a cheque), which thankfully went through.

They went bust two weeks later.


Never again.

[Jasandjules]

Ozzie Osmond said:

2. The car is sitting on their forecourt and if they find a buyer your brother transfers the car to the garage or direct to the buyer in exchange for money, with the garage taking a commission on the sale - which is absolutely fine.

I suspect No. 2 but I would want a contract which makes it clear that there is no transfer of title on the vehicle until you have the cleared funds and to make a clear document from the garage which acknowledges the vehicle is not owned by the garage in case they liquidate....

And keep the V5.

[G20RG B]

Jasandjules said:

Ozzie Osmond said:

2. The car is sitting on their forecourt and if they find a buyer your brother transfers the car to the garage or direct to the buyer in exchange for money, with the garage taking a commission on the sale - which is absolutely fine.

I suspect No. 2 but I would want a contract which makes it clear that there is no transfer of title on the vehicle until you have the cleared funds and to make a clear document from the garage which acknowledges the vehicle is not owned by the garage in case they liquidate....

And keep the V5.

Yes Ozzie number 2

Jasandjules good advice I have passed it on to him via e-mail..

[Paul Drawmer]

G20RG B said:

My brother is about to hand over his 98 Porsche Carrera to a garage on a sale or return basis!
What are the pros and cons of doing this, what if the dealer sells it then doesn't hand over the cash!!
Has anyone done this and if so can you give me some advice to pass on!!

Thanks in advance
George

You haven't used enough exclamation marks. 3/10

[Hitch78]

I believe that this is what you are looking for: ?

[Far Eastender]

Take a look at the 'Dream Machines' thread in the TVR forum.

[Sk93]

Paul Drawmer said:

G20RG B said:

My brother is about to hand over his 98 Porsche Carrera to a garage on a sale or return basis!
What are the pros and cons of doing this, what if the dealer sells it then doesn't hand over the cash!!
Has anyone done this and if so can you give me some advice to pass on!!

Thanks in advance
George

You haven't used enough exclamation marks. 3/10

tsk.. it's CLEARLY 5/10!