synth19

So as you guys know, I'm selling my Z. This week, all kinds of crazy offers have come out of the woodwork. I'll give you a few examples:

1. Some guy in his late 50's wanted to see the car last Saturday. He literally told me, "If I like it, I'll pay for it on the spot so I can take it out to Gingerman track on Sunday/Monday." He's a baller and owns a track school. I had HIN on Saturday, so I couldn't make it happen. So he said to call him today and he'll shoot on over. Not sure what's going on with him, because I left him a message today and he hasn't called me back.. so who knows..

2. Typical dreamer kid calls me and asks all kinds of stupid questions "How fast can the car go?" "You must blow away evo's on the streets," etc. And I am NOT kidding.. these were the actual questions he asked me! Of course the kicker, "Well, my dad is out of town this weekend, so when he gets back, I'm going to ask him if he can buy it for me....because I don't like my auotmatic Z." Talk about a time bomb! This kid is a walking Nick Hogan.

3. Okay, the next is where you guys come in... I've been exchanging a few PM's from a guy from the middle east. He seems pretty legit. But you neve know. Basically he won't be in the US until the end of summer and wants me to hold the car for him until he arrives, he did say he would give me a deposit to make sure I hold the car for him.


Now my questions:

If the older ricer doesn't pan out, I'm going to seriously consider the middle east guy. I am going to give him the following option:

1. Give me a non-refundable deposit, and I will need the balance by such-and-such date, if not.. I keep the deposit. How can I make some sort of legal document that protects these terms?

2. How exactly do I collect the deposit and the balance? Wire transfer for deposit? Same for Balance? How much should I ask for a deposit?

3. How do I protect myself to make sure he doesn't some how get my account info, etc.

thanks,

Sly Raskal

iTrader: (1)

Well if you don't want him having your account info, then wire transfer is out of the question because you have to give him your account info for his bank to transfer funds to yours.

Paypal seems to be the easiest method IMO. Unless you are willing to have him send you a cashiers check or money order?

As for the amount of the deposit, you can do a percentage of what you want to sell the car for, or make it a flat fee of say, $1K or $2K. If he commits to a higher deposit, it will possibly mean that he is serious about purchasing the car IMO.

AznX TL

honestly........if he wants a car at the end of the summer, he can go shopping for it at the end of the summer.

who knows the kid might actually get his parents to buy the Z, my friend's parents just bought him a 03 6speed Z 2 weeks ago.

Sarlacc

Advice:

Sell locally, or in person. period.

Just gonna have to be patient because people will say they want it, say they'll pay cash on the spot for it etc, and then totally flake out.

If someone says they wants, but can you hold it for them....CASH ONLY NON_REFUNDABLE DEPOSIT...PERIOD. no exceptions.

They arent there to be your friend even though they act as much, and you arent theirs. Its business pure and simple.

joerockt

I dont know about the middle east guy...Get cash in hand for the deposit or no deal.

808havok_tsx

depending on if you are desperate to sell or not, try to sell local. cash in hand to test drive. this is a business transaction, not some swap meet deal. significant money is involved so you should treat it as such. make sure you guys sign a bill of sale paper to cover your rear as well.

cM3go

Middle East?! No way man. Wait for the locals.

JS + XES

iTrader: (1)

sell it to international students like me.

only cash.

Bearcat94

1. Lawyer? Lawyer in a Box Program?

2. 10%

3. Open a separate account in a Bank you don't do business with now. After Transfer, close account and move money to a different bank and/or cash.


FWIW - I think you shold sell to the dumb ass kid. With any luck you assist his quick exit from the gene pool.

synth19

I understand what you guys are saying, but it's not really going to be easy to sell this car. I'm being open to all offers. After I posted the first message, the older guy actually called me... sounds like he's interested, but he still is on the fence... so we'll see... No serious offers in the two months the car has been posted... mostly emails like "Saving up, hoping you have the car @ the end of summer, blah, blah, blah...) so I might actually consider this middle east guy. Based on what ya'll are saying, is to insist on a non-refundable deposit (cashier's check) and go from there. If I do this, I will have plenty of time to make sure it clears....

joerockt

NO WAY, not a cashiers check. Have him western union that shit to you...

synth19

^ why not? If I have 3 months until he gets to the states, doesnt a cashier's check only take a few days to clear?

Crazy Bimmer

Why not put the car back to stock, body wise... then drop the price.

Maybe someone will take it if they want a track car but not all the bodywork.

synth19

^ I can take off all the cosmetic parts, it would be a PIA, but that's not my real dilemma. The major dilemma is the MOTOR! That is something I can't really part out.. hence.. the reason why I want to sell "as is."

TheMirror

With all due respect, you are setting yourself up to be SCREWED by the guy out of the country by dealing with him at all. These kind of scams are rampant these days. Seriously.

joerockt

No, it actually takes a couple of weeks to transfer from where the check originated to your bank. Anything can happen during that time period.

When I sold my rims, it took two weeks for the CC to clear from a bank in Canada.

synth19

Please expand on "anything can happen during that time period" because as I said, I will have about 3 months until he arrives (not a few weeks)...

synth19

Advice respectfully taken, however, I don't want to my limit myself in a potential sale just because it is not local or the fear of being scammed. I know we read about a great deal of international scams, but at the same time, I also have heard about great international transactions. There is obviosuly a way to do it, I just need to know how and the best way to protect myself.

Crazy Bimmer

What im saying is, you will have more of a market if you put the car almost back to stock, body wise, then lower the price.

Someone will pay for a 350z with that motor you have in there. They just might not want all the other mods you did to it. Thats all.

This is why i dont do internal engine work.

Ok ill shut up since im not helping.

joerockt

Well then, you're all set. I wouldn't take less then half for the deposit then...

Street Spirit

Help you NOT get scammed:

Deal with buyers in person, and accept cash only.

That's the only real way of ensuring everything is legit.....unless the cash is counterfeit.

charliemike

Maybe the guy in the Middle East is hoping the Nigerian prince gives him his $10M.

My advice is like everyone else. Be patient. Cash on the table. No 3rd-party out-of-state payroll check bullshit.

synth19

^ what do you mean by "cash on the table?" certainly, you dont expect even my in-state buyer to pay in cash? Let's forget about the entire out-of-country variable, with the large amount of money involved, what's the best way to make this kind of transaction?

808havok_tsx

cash on table means exactly that - when they come to see your car, they need to "show you the money" to prove they are serious AND should they wreck it while test driving it, they gotta' buy it. don't let people test drive your car without seeing the money man, insurance be damned.

you can modify a generic bill of sale to include verbage that says deal is not finalized until cashier's check is totally cleared if brining a pile of cash is a problem. even if they are financing, they should be able to get a whole check cut for the value of the loan. makes your life easier man. that's what car dealerships and banks do all the time - bank writes a whole check to dealer, bank becomes lien holder until you pay off the loan. in this case, bank would be writing check to you instead.

cM3go

Cashier's check, preferably from your bank, so they can verify its validity.

Even still, you should be able to call it in to the issuing bank to ensure cashier's check was taken out of the person's account.

BENDER08

dont do a wire transfer !!! or over sea's BS

I was selling my R1 guy to a guy from the middle east . He sent me a cashiers check (i'm not giving my bank info out to anyone) i went to my bank they gave me a call about 3 hours later telling me it didn't go through. I emailed the guy he said his mistake and to give him my bank info, i said no so he sent out another cashiers check, it cleared. 3-4 days went by a guy calls me from a "shipping company" and that he wants to set up an appointment to come pick up the bike. Next day i go to the bank to take out the money my bank account is locked and being investigated for fraud..

Took me 3 months to get it all straightened out.

synth19

joerockt

See!!! Told you cashier checks suck.

savage

you could probably sell it for more money overseas but it has its risks...

if you do it carefully I think you would be ok...

Let the money go through before shipping anything, setting up a seperate account for only these purposes, etc...

with the weak American dollar people overseas, especially out in the Mideast would probably jump all over your car...

but if you get a good deal here and don't want to put up with any of the hassle just sell it locally...

BENDER08

i forgot to add, the guy was really out of Canada pulling these scams......




I ended up selling it to a guy locally he gave ma a cashiers check, from his bank and i was with him to verify it.

charliemike

I'm referring to the "I'll gladly pay you Tuesday for a hamburger today" nonsense.

Cash would be nice but as everyone has mentioned after I posted that you want verified funds. Going to the buyer's bank with the purchaser is the best bet. If he's gonna get a check from his credit union, then go to the CU/Bank and get it from them in person.

My best advice is make the number of variables between you and the money as few as possible.

S14 n Tsx

1. He can definitely be a potential/serious buyer. I think you should just wait for him to return your phone call. No need jump to the conclusion so early.

2. If I were you, I won't sell nicely done z to some punk ass kid. I already know what he is going to do w/ the car. If you really love your car then you shouldn't sell it to this kid because he wants to buy it.

3. FUCK NO! I don't care if he offers $10k extra on top of yours. Don't do it... just waste of time.

gnr112

I would say only the first person seems a bit legit and safer for yourself.

BENDER08

when your trip of the acid wears off a little i hope you make more sense.


if someone offered me my asking price or in your stated case 10k over....i don't care if they are buying the car to paint it pink and slap hello kitty stickers all over it. As long as i have my money and can move on to something else i want im happy.

KaMLuNg

iTrader: (5)

the question isn't what he is going to do with the car... it is a matter of whether he is wasting your time by d!ckin you around the block when you could have already sold the car to someone else...

BENDER08

reread
2.
and
3.


I've sold many cars and sometimes (rarely) but the bs'rs ended up buying the car from me.

synth19

first person backed out, he's picking up a new nismo edition Z. Oh well.....

neuronbob

(NB prays that his son isn't like that when he's of age to drive)

With that said, if his dad really is going to buy the car for him, would you turn down the money? I wouldn't.

S14 n Tsx

Good for you. Was I answering your question? no, so stfu.

ggesq

iTrader: (1)

I would stay away from overseas transactions/buyers as well.