Leaving a deposit. Private sale

[Garlick]

Tomorrow I am viewing a car for sale privately and as the banks are closed I won't have the full amount of cash on me. If I like it I intend to pop to the cash machine and leave £500 as a deposit, collecting with remaining balance ASAP.

Question is, what precautions should I take? I've never been in this position before (usually take full cash with me) and I wonder if a hand-written receipt is worth anything should something go wrong, or he claims I didn't leave a deposit at all.

I have no reason to not trust the seller, just getting things clear in my head.

[Garlick]

Hmmm, the car is only a few grand so maybe £100 to secure?

As for saying who I am I doubt this chap knows me from Adam, he just wants to sell his motor.

[Garlick]

Thanks guys, and good link too Podie, ta.

I'll go for £100 and rely on gut feel. On the phone he seems to be a nice chap.

terzo said:

Personally I think I'd take the risk that he won't find a buyer overnight and return in the morning with the full amount. If he is a shifty sort and keeps the deposit denying all knowledge of it, it will take a long time/laborious to get back.

Can't do this as I need to withdraw a few K. That means a trip to the bank and it's bank holiday.

[Garlick]

Well I got it and it was all agreed on a handshake too. Seller is a lawyer, I trust him

[Garlick]

true......

I've bought another V8 powered car, not a sports though this one's a wafter.

[Garlick]

Not a Merc

[Garlick]

Uhura fighter said:

A Vette?

Not yet.

Japanese

[Garlick]

Uhura fighter said:

Garlick said:

Uhura fighter said:

A Vette?

Not yet.

Japanese

Lexus? 400?

[Garlick]

Don't worry me, I didn't leave a deposit...

[Garlick]

sorry, just fancied a change.

Still got the TVR and the 124 (and the Mrs 1.8s Eunos too)

[Garlick]

I'm long overdue a fleet update actually.....

[Garlick]

g3org3y said:

miniman said:

Garlick said:

Not a Merc

Well, as close as one can get, given that it is the Japanese Mercedes...

Indeed.

Garlick, given that you already have a Merc and what some would consider the gold standard (W124), does the Lexus offer anything that genuinely stands out over the Merc to justify the purchase? Genuine question. I understand it'll be an uber barge waft machine, but I'd have thought the Merc could do that quite well. Ok there is that V8 but still...

It's just with all the apparent increases in costs, the rise in the price of fuel, insurance etc for me at least, it'd have to do something special (vs a car/cars I already owned) to be bothered with the purchase.

I'm a serial car buying addict that's the bottom line. The Merc is fantastic and I'll miss it terribly, but 4.0, all the toys and a new car is too tempting. That Merc is a good one, but I'll get another one day.

Insurance? Haven't checked yet......

[Garlick]

g3org3y said:

I didn't know you were planning to get rid of the Merc (or have already got rid by the sounds of it)?

Still got it at the moment, still enjoying it too.

[Garlick]

Gruber said:

Paul - completely off topic, but your TVR sounded lovely burbling up the Kings Rd this morning. And good to see you had the roof down!

Good stuff!

It was a cold day wasnt it? I got many stares as I was wearing a polo shirt with bare arms, but with a V8 powered heater and heat soak through the footwell it means you're always toasty at slower speeds.