Am I being over cautious??

[Larwyn]

I have my Honda Element listed on Craigslist. There is nothing wrong with the car we just have more cars than drivers and I'm growing weary of the extra expense.

I had what seemed to be a serious buyer who kept calling back, trying to get the price down and finally came to look at the car last week. He made an offer which was lower than I really wanted to so I told him no. After discussing it with my wife we decided that it was only a couple hundred less than we really wanted so we might as well accept the offer after all. She contacted him by e-mail, he called back trying to get us to pay for new tires and the Carfax report that he ran. She told him we had already knocked enough off blue book to cover those expenses which were not our responsibility in the first place.

So today he calls back tries once more to bring the price down, then wants to meet Saturday at a credit union in a town half way between where we live and where he lives. He goes on to say that he will give me $900 in the parking lot, then the bank will give the check for $7800 and he will give me another $1800 at that time. Then I am to tell the bank that the selling price of the car is $9600. I know people do this among friends, or at least I've heard that they do in order to lower the tax they have to pay (probably not legal). He said it was so the $8000 loan would cover tax, title and license, and another time he said it was because the bank wanted him to pay 20% down. Either way I would be lying about the price of the car to the bank and that kind of raised a flag to me. Unless the $900 in the parking lot is counterfeit I really do not see where the scam is here other than him saving a couple of bucks on state sales tax. Is there some scam hidden in all this that I cannot see? I already told him I would not agree to his scheme and he told me to call if I changed my mind. I just do not see where this would save him enough money to make or break the deal unless he was somehow ripping me off with the method of payment. .

There is no urgent need to sell this car right away but I am wondering if I am being over cautious here. Any comments?

[chorizon]

Larwyn, thats a lot of variables. And I do know some rather unscrupulous types that would fudge the sale price on the title, ahem, personally. But, less than a thousand bucks (if my math be correct)? That would save like $80 or so on title transfer. Personally, I'd call the bank where the deal is supposed to go down and ask their opinion.

I had a similar deal on craigslist a few years ago. I was selling an old motorcycle, and a serious buyer from California called me up and said he'd buy it. He sent me a BOA cashier's check which I received the next day. I went to the local BOAmerica to cash it and insisted the clerks call the bank it was intitially drawn from, explaining to them the situation. They said it was legit. I took the money and run. A few days later a trucking company arrived and hauled off my old Z-1 and that was the end of it. Strange, but worked out OK.

After doing all this typing I wonder why he doesn't secure the funds before you even meet. Why do you have to go to the bank would be my question?

[asianflava]

Seems like this guy is wanting you to jump thru a bunch of hoops. If there is no urgent need to sell the car then I'd tell him, take it or leave it.

I wouldn't put myself out like that for a stranger who seems like they are trying to put one over on the bank.

Another option would be to take it to Carmax. They will appraise it and give you a few days to decide. If you take the deal, they will give you a check on the spot. I've never done it but my co-worker/neighbor did it with his wife's car after their divorce.

[dreadcptflint]

If I were you then I would pass on the whole deal. If he is willing to have you lie then he is more than willing to lie to you. I do my best not to deal with liers.

[EffieRover]

I don't think he has any intention of paying what you want for the car. He has asked, over and over, for the price to be lowered and for you to jump through more and expensive hoops. I would insist on the asking price, in cash or cashier's check, all at once.

I once had a car outside my house for sale ... same guy came to my door three or four times telling me it wasn't worth $200, but he'd graciously give me that for the tires. Later on, a family came and bought it for their teenager for $850 and were very satisfied. Keep up hope.

[Dean in Eureka, CA]

Larwyn,
The last time I did a buyer a favor at the time of the sale, it ended up costing me later on... Never Again.

[Larwyn]

Thanks all, for your replies. Seems like everybody so far purty much agrees with what I have already done. I was thinking that he was more trouble than he was worth, and all the while begging for me to "help me out". I think I'll not be calling him back. Thanks again to all.

Yes, I know "purty" ain't a word but I like it anyway......

[teardrop_focus]

[Edit] I guess I was typing... anyway, glad you can see the situation as others do. We care. <3. :-)~

Larwyn

I had what seemed to be a serious buyer who kept calling back, trying to get the price down and finally came to look at the car last week. He made an offer which was lower than I really wanted to so I told him no. After discussing it with my wife we decided that it was only a couple hundred less than we really wanted so we might as well accept the offer after all. She contacted him by e-mail, he called back trying to get us to pay for new tires and the Carfax report that he ran. She told him we had already knocked enough off blue book to cover those expenses which were not our responsibility in the first place.

So today he calls back tries once more to bring the price down, then wants to meet Saturday at a credit union in a town half way between where we live and where he lives. He goes on to say that he will give me $900 in the parking lot, then the bank will give the check for $7800 and he will give me another $1800 at that time.

JEBUS. The guy is jerking you off! Walk away.

Sorry, bro... but the view from here looks like it's a nightmare!

I'm with the others:

chorizon

Larwyn, thats a lot of variables... [AND] Why do you have to go to the bank would be my question?

asianflava

Seems like this guy is wanting you to jump thru a bunch of hoops.

dreadcptflint

If I were you then I would pass on the whole deal.
I do my best not to deal with liers.

EffieRover

I don't think he has any intention of paying what you want for the car.

Dean in Eureka, CA

...last time I did a buyer a favor at the time of the sale, it ended up costing me later on... Never Again.

Larwyn, with all due respect, your gut is trying to tell you something here... otherwise you wouldn't have posted!

Walk away.... just say "Nevermind. I've decided to keep the car." No more explanation needed.

[Arne]

I agree, just sounds too complex and fishy.... it could be legit, but you have to consider what you have to lose if it all goes belly up.

[starleen2]

Once I restored a 65 mustang fastback GT with 289 Hi-po and pony interior – only 2500 ever made in 65 and the all the numbers matched so it was the real deal – after being a garage car after restoration I decided to sell. Everyone in Texas (the state in which I reside) didn’t think the car was worth the price I was asking – I have several lookers. Then I placed an Ad in Hemming motor news and sold the car for 18,000.00 USD to a person in New York. I NAMED The closing of the deal – wire 5000.00 to my bank and I’ll pick you up at DFW airport – YOU arrange for a car hauler or drive it back yourself. the balance to be paid upon departure - cash or certified funds with letter from bank. I learned that If I’m not in a hurry for a quickie sale, I’ll just wait and someone did buy the car and for the price I was asking which was WELL below the value set in the mustang seller guide – BTW – it was appraised by a certified mustang appraiser.

[wannabefree]

Cash. Tell him you want cash. A legit buyer will find a way.

[Alfred]

Cash. Tell him you want cash. A legit buyer will find a way.

I agree. Too many red flags, plus your gut is telling you something is wrong, or you wouldn't be posting about it.

Guy sounds like trouble to me. If nothing else, he'll be calling you next week telling you he had to replace the window knob and wants a $50 refund or something.

I'd say if your back isn't against the wall, sit on it and sell it when the right buyer comes along; Someone who wants it at a mutually agreeable price and without all the games.

I'd trust your intuition on this one. Guy sounds like a flake, or worse.

Al in Asheville

[Senior Ninja]

Larwyn,

You're being waaaay too nice. Even if this clown brought the cash I'd look for counterfit!
Around here people offer twice the price in food stamps!
No way. Either he has the cash or he doesn't it's just that simple.
Steve

[bg]

I hate to ask, And I'm sure it's well outside of what I can afford, but what's your asking price?

[Larwyn]

I hate to ask, And I'm sure it's well outside of what I can afford, but what's your asking price?

It's a 2003 Honda Element EX, 4 wheel drive, with all the extras, 53,000 miles, there is a transferable service plan good through Sept 2010 if transferred by the buyer.

Only marks are one parking lot scratch (not dent) and a bit of residue left on the dash when a "no slip" pad was removed.

Kelley Blue Book is $11,750, NADA retail is $10,900. All that I have seen ads for are listed at or near KBB. It was listed on Craigslist at $11,000. Would take $10,500 cash from members here if you are interested. That's as low as I'm willing to go at this time. I was going to link the Craiglist ad but it seems to have expired, I may get the wife to put up a new ad when she gets home from work.

I know, I was a bit surprised that the bluebook price is so high myself.

I told the "buyer" discussed in the original post that it did not seem to me that he had the money to buy my car at this time. Since he has been unable to raise the money for the offer that he made, the deal is off, and the price is once again $11,000 cash to him, plus $50.00 an hour for any time I spend traveling to or dealing with his bank. I do not think I will be hearing from him again..............