Restorer32 Posted September 20, 2018 Share Posted September 20, 2018 In about 1978 I found a '32 Packard I wanted to buy. The car was about 300 miles away. Only a few thousand dollars but a lot of money to me at the time. This was a Thursday afternoon. I hurried to the bank and talked to the manager about a loan. He asked how much but I wasn't sure what it might take to buy the car. The bank Manager said "Go ahead and buy the car. Give the owner a check and tell him to call us here at the bank. We will tell him the check is good even though we know it isn't. Then you stop in on Monday and we will do the paperwork". By Saturday afternoon the car was in my driveway. Try getting a bank to do that now. Back then a person's word was his bond, even the word of a 30 year old with few assets. 1 Link to comment Share on other sites More sharing options...
just me Posted September 20, 2018 Author Share Posted September 20, 2018 3 hours ago, AJFord54 said: So please tell us what you ended up doing. Fortunately I knew both were gentlemen. Sent an email to both asking them to settle the dispute and advise. They agreed the first one who requested the photos would buy the item. He agreed to sell the item to the other fellow if said individual needed it first at the cost he paid. Gentlemen can disagree and still be friends. Ben Franklin Stay tuned until next week on Whom should you sell it to? Link to comment Share on other sites More sharing options...
keiser31 Posted September 20, 2018 Share Posted September 20, 2018 On 9/19/2018 at 6:08 AM, Roger Walling said: I was selling a car at my used car lot way back when, and while I was showing the car a second person showed up. The first buyer was kicking the tires and hemming and hawing for a while. so I excused myself to say hello and not ignore the second guy. The second guy said immediately, " I’ll buy the car right now at the asking price". I went over to the first guy and told him that the other guy wants to buy it, but I will give you first chance if you want it now. The first guy said no. I sold to the second guy on the spot. Yep. Link to comment Share on other sites More sharing options...
padgett Posted September 20, 2018 Share Posted September 20, 2018 Kind of a then vs now. Today when I sell a car first I create a web site with all the pertinent information so when I post the "For Sale" it is all there. Second I know my banks routing and my wire transfer numbers. Accept cash or wire transfer at bank and first to place cash in my hand or account wins. Florida has a "Bill of Sale" form (can send a partly filled out .pdf) for a car or trailer and I make two copies, one for each of us. I may buy or sell one a year or two but not a lot an have had no problems. Link to comment Share on other sites More sharing options...
trimacar Posted September 20, 2018 Share Posted September 20, 2018 (edited) On 9/20/2018 at 7:33 AM, Restorer32 said: In about 1978 I found a '32 Packard I wanted to buy. The car was about 300 miles away. Only a few thousand dollars but a lot of money to me at the time. This was a Thursday afternoon. I hurried to the bank and talked to the manager about a loan. He asked how much but I wasn't sure what it might take to buy the car. The bank Manager said "Go ahead and buy the car. Give the owner a check and tell him to call us here at the bank. We will tell him the check is good even though we know it isn't. Then you stop in on Monday and we will do the paperwork". By Saturday afternoon the car was in my driveway. Try getting a bank to do that now. Back then a person's word was his bond, even the word of a 30 year old with few assets. You know, it's funny your should post this. In my hometown, I had a great relationship with a local bank. Turned out my "personal banker" was not only a branch manager, but an old car guy. I arranged to have him buy a 1955 Chevrolet truck belonging to a friend of mine, this was back in the early 1980's when trucks were, well, shall we say, hard to sell, no one wanted them. He ended up restoring the car to pristine condition. Since he was my banker, and knew old car, I did exactly what you state. I'd call him and say something like "Hey, I just bought a 19whatever Gomobile, I need eleventy seven dollars in my account"...and no problem, it was there, and then I'd go sign the paperwork, as you state. Things have changed, as I've discussed. A man's word has been degraded, a verbal commitment, which at one time was binding, is now "first money in my hand" instead of honoring one's word. Yes, some people say they will do a deal and back out. Yes, it's tough negotiating out there. But, if a man says "I'll take it", then I believe it until I'm proven wrong... Edited September 23, 2018 by trimacar (see edit history) 2 Link to comment Share on other sites More sharing options...
C Carl Posted September 21, 2018 Share Posted September 21, 2018 At this point in my life, I kinda wish I had never trusted anyone. Ever. - Recently seriously burned again, - Old fool, Cadillac Carl 1 Link to comment Share on other sites More sharing options...
padgett Posted September 21, 2018 Share Posted September 21, 2018 I see nothing wrong with telling someone "first money" as long as it is clear. If someone wants me to hold something, they can pay a deposit and we will agree up front whether it is returnable. Personally I would much rather deal locally and face to face. Link to comment Share on other sites More sharing options...
pmhowe Posted September 22, 2018 Share Posted September 22, 2018 Hi Carl, I hope that doesn't involve your beautiful 1924 Cadillac. P Link to comment Share on other sites More sharing options...
mercer09 Posted September 23, 2018 Share Posted September 23, 2018 Trim, I had the same relationship with my stockbroker 25 years ago- would call and say, give me 1000 shares of xyz and youll have the cash in 24 hrs. stock would be in my acct. instantyl. One day I call and say, I need 1000 shares of Pixar in my acct and will have cash to you in 6 hours. New manager and he says, when you get the cash here, then you get the shares. Need less to say I lost 8k on that deal, because I couldnt get the cash there soon enough. I also dont use that broker any longer either.......... Link to comment Share on other sites More sharing options...
mercer09 Posted September 23, 2018 Share Posted September 23, 2018 Listed 4 big lugged jeep wheels on CL for 350. a few years back. guy comes out and offers me 300. I say no, best I can do is 325. he says OK, and hands me the money and takes off. I count it and am 25. short. Best 25. ever spent...................... wont EVER happen again! Trim, you are spot on with counting all cash in front of customer adversely, sold a kayak and guy hands me the money. I start to count and stop 1/2 way and put in my pocket figuring we're good. he calls me up in the afternoon and says, I think I gave you 25. too much. I reach in my pocket and sure enough. I repeatedly ask him for his address to send a refund and he refuses. I felt bad about that............. Link to comment Share on other sites More sharing options...
Paul Dobbin Posted September 23, 2018 Share Posted September 23, 2018 Reality 2018. I have two (2) cars and motor home for sale on Craigslist. with multiple pictures. I live out in the country between Hooterville & Pettycoat Junction. (Not near a metropolitan area) Lots of calls or inquires via Craigslist, "I'm very interested, give me directions" which I give along with any other pictures I have. I answer all questions and disclose all faults to avoid any percieved mis-representaion. I even had an offer over the phone and thanked them but asked that they see it or have it looked at first. 2 of 14 came to look at the cars and 1 of 9 at the motor home. One car guy took pictures to show his new wife, (never to be heard of again). The other one said he had cash but wanted it for 50% of the asking price. Two wasted hours of my time and where never heard from again either. First one who comes with money to buy, gets the vehicles and the others get another "The one that got away story". They all say "its just what they've been looking for", on the phone. All vehicles are 24 to 61 years old and not in the Barrett-Jackson price range, nor represented as such. Good operational, mechanically and cosmetically sound and pretty driver class vehicles. Should I double the asking price to take the 50% offer? 1 Link to comment Share on other sites More sharing options...
mercer09 Posted September 23, 2018 Share Posted September 23, 2018 I love CL. It is a complete exercise in futility! dumb and dumber.............. Link to comment Share on other sites More sharing options...
Bhigdog Posted September 24, 2018 Share Posted September 24, 2018 (edited) 1 hour ago, mercer09 said: I love CL. It is a complete exercise in futility! dumb and dumber.............. Actually i do love CL. Whenever i need some off the wall POS, there it is. Dont think id try to sell one of my cars there though........bob Edited September 24, 2018 by Bhigdog (see edit history) Link to comment Share on other sites More sharing options...
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