I just sold my car but the buyer could only get $500 cash since it's a holiday and will be bringing the additional money on Thursday when he gets back from vacation. I have possession of the car until he gets back but I wondering since a Bill of Sale was given can they change their mind and I have to give the money back? I don't want to assume I have the money and pay on my new car loan and they turn around and say they don't want it. I sold car As Is for $800 so they paid over half for the car but it has an oil leak, that they are aware of, and I'm concerned if for some reason that car doesn't start when they pick it up they can try and get money back too since it stated on Bill of Sale, As Is. This is the first time I've sold my car and not quite sure how it all works. I guess I wouldn't be concerned if they paid for it in full today and drove it off. Thanks
2007-04-08 09:59:23 · 8 answers · asked by Anonymous in Cars & Transportation ➔ Buying & Selling
as long as you stated on the bill that car was sold as seen, tested an approved! no probs, money is yours!
2007-04-08 10:05:37 · answer #1 · answered by Anonymous · 0⤊ 0⤋
If they change their mind, tell them they have to forfeit $50., because you had other buyers and lost those sales, and now you must advertise again, etc etc.
OR you could be hard nosed and say the deal is done and no refund.
Just make sure the car will start when they get there and there should be no problem for them to bring up.
2007-04-08 10:44:05 · answer #2 · answered by Trump 2020 7 · 0⤊ 0⤋
It depends on the wording on the bill of sale. If you stated that you took a deposit, did you write non refundable? If you did not, it is assumable that is it refundable. Did they sign the bill of sale and do you both have a copy? Does the bill of sale specifically say "so and so agrees to purchase "vehicle info" for the price of xxx and has been given an opportinity to inspect the vehicle"
2007-04-08 10:12:35 · answer #3 · answered by Harley N 3 · 0⤊ 0⤋
The money they gave you is a guaranty the car will be there when they get back. I hope you still have the registration or they could claim it's theirs especially if you signed it and gave it to them.
Other than that you've done your homework well. Don't worry it'll start with gas in the tank and oil to the full line.
2007-04-08 10:15:27 · answer #4 · answered by Country Boy 7 · 0⤊ 0⤋
Best way to make sure you do not get conned is to keep the title until you receive full payment. Also get as much information about them as possible. Address, phone number, and work Address and phone number and then the phone number and address of at least 3 people who know them. Before they take the car verify all information. Get the payment in full. If they insist on writing you a check ask them to go to their bank and get cashiers check. (Cashiers check pulls the money right from the account so they can not stop payment.) But most importantly is make sure you have the money in hand before you hand them the title.
2016-04-01 04:00:48 · answer #5 · answered by Anonymous · 0⤊ 0⤋
The money is yours. You might have a tough time getting the final $300 when they get back, but they have no recourse to retrieve the first $500.
2007-04-08 10:15:31 · answer #6 · answered by Anonymous · 0⤊ 0⤋
they agreed to purchase the vehicle "as is" so you are not required to give them the money back. all they can do is pay the rest and take the car, or just lose the money.
2007-04-08 10:15:16 · answer #7 · answered by de bossy one 6 · 0⤊ 0⤋
if the bill of sale was signed already and it says "as is" then no they cant just up and change there mind......i;ve been there before
2007-04-08 10:06:29 · answer #8 · answered by Roxanne S 1 · 0⤊ 0⤋