[Closed] We've shaken hands, has it sold? (Car selling content)

Do you have any cash from the dealer and do you still have the car?
I think you know the answer.

Jekkyl- the policy where I used to work was "it's not sold til the cash is in the till" and that's exactly my thinking. I'm not sure if I'm legally bound or not, though.

Why does the dealer have the V5 when you need to sign it and send it off??

id be tempted to let the dealer have it, you could go down and get the v5 back and mondays buyer may never turn up with the cash, dealer then may tell you to stick it....

Legend- they asked for it. It's a big, reputable dealer.

Kendo- The buyer plans to turn up tomorrow and leave a deposit. If they don't like it then we won't have the V5 back by then anyway. If they do like it they will have left us some money and will be collecting the car on Monday.

Just remind everyone here not to deal with you on the classifieds.
Going back on your word (deal) is like having sex with your mother ie not done

Iolo- if it were an individual, I'd not be considering it, but given it's a dealer I'm fine with it.

Presumably the dealer will be open today? Try talking to them to explain the situation, they may match the offer, or they may think you're trying it on.

Integrity

Are you a man of your word? What significance does your handshake hold for you?

Only you know that.

Going back on your word (deal) is like having sex with your mother ie not done

Yes, it's very much like that.

Going back on your word (deal) is like having sex with your mother ie not done

Unless you are from Bridgwater

So they havnt seen the car and have stated they will make an offer

Sounds fish

I suspext youll get your v5 back an they will offer you less than te dealer knowing you have burnt your bridges.

Cars - its a funny old game

iolo - Member
Just remind everyone here not to deal with you on the classifieds.
Going back on your word (deal) is like having sex with your mother ie not done

Balls to that, business is business. Especially when one of the parties involved in fact is a large, reputable, business - they aren't going to lose any sleep over it.

Dealer or not, I think your handshake should mean the deal is sealed.

I'm with Terry - assume we're talking a fairly large sun of money if the dealers are offering above book price, I'd be a bit suspicious of someone offering on it of they've not seen it.

I sold my van that way, offer made based on photos then the guys flew up to get it - job done.

Going back on your word (deal) is like having sex with your mother ie not done

Unless you are from [s]Bridgwater[/s] [b]some parts of Norfolk[/b]

I wouldn't have given the V5 to anyone without at the very least a deposit in cash.

Dealer or otherwise.

When I worked for a dealership years ago we used to buy loads of used cars and never got the V5 until we did the deal and paid.

Yes, I regret handing it over now. I've not sold a car before, normally I get rid of them when they're scrap.

Terry- they do sound very genuine, elderly couple who really want one. It's a pretty new but cheap car that a lot of people want (Skoda Citigo) and it's the cheapest one on Autotrader.

More to the point what is this car that you have buyers fighting for?

This morning someone has phoned up and is willing to offer us £2-300 more than the dealer and are very keen to take it on Monday.

They've offered you a price without seeing it?

Take the firm offer...

Well, I'm a firm believer in the fact that it's only sold once the funds have cleared.

A couple of weeks ago I accepted an offer on a Golf which I'd only had for a couple of months, but I happened across a 3 Series Touring through my family which made the Golf surplus to requirements.

The buyer offered me a good price and that was that. Until a week after I started my 55 mile x-country commute in the beemer. My back was killing after each journey and no amount of seat adjustment made it better.

So I contacted the buyer to tell him the deal's off. I feel bad for him as it's a great car, however I need a good back for work(!) and it was stupid to let the car go to save face and then go through the hassle of searching yet again.

What I'm trying to say is that we're too keen on keeping up appearances in this country; things change, like the fact that you've got a great offer on the table.

I'd not say anything to anyone until you find out whether this buyer is legit; then you have the information to decide on your course of action.

Would make the scenario even more interesting if the dealer already has a buyer for it (which is maybe why they offered over the odds and requested the V5)... 😯

Mike, that does sound reasonable. We'll let them see it and if they're legit then they can take it. I'd rather take an extra money than save face with someone I'd not met before this week. After all, all they are going to do is sell it to someone else for a grand more.

We're in the process of selling my wife's car. We got an offer from a dealer and I took it round on Wednesday and they said they'd like to take it. They offered a price, I said "OK, that sounds good" and left with a handshake. I dropped off the V5 the following day but we still have the car.

Call me old fashioned if you like but once you said OK and shook hands the car was sold and the deal was done . Welching on the deal for a possible couple of hundred is a low , shitty thing to do . But you already know that , you just want people to tell you it's OK to help clear your conscience .

Integrity.

Do you have any?

ruidh, no. My question was if it was legally ok, not morally. We don't make enough money to have integrity over £300.

Hmmm, I doubt the dealer would have any qualms about doing the same to you - but then thinking that way seems like a bit of a race to the bottom in terms of ethics.

Handshake used to be legally binding in Scotland. Dunno if it still is. If you are who I think you are munrobiker then having your reputation sullied and integrity called into question would be far more costly than £300.

[quote=munrobiker ]ruidh, no. My question was if it was legally ok, not morally. We don't make enough money to have integrity over £300.
But you expect it of others?

Dont be surprised when that dealer comes around and sets fire to your [s]warehouse[/s] train set!!

Scratch that, I know who you are and I'm very disappointed 🙁

grum - Member
Hmmm, I doubt the dealer would have any qualms about doing the same to you - but then thinking that way seems like a bit of a race to the bottom in terms of ethics.

against a car dealer? I think that race has already been won 😉

maybe all the critics could have a whip round to get the OP £300 if they're that offended?

Here's a thing, if the OP so wants the "deal old couple" to get the car, how about he gives it to them for the same price as the car dealer offered?

I know who you are and Im not disappointed. £300 is a lot of money to lose.

because "We don't make enough money to have integrity over £300."

Not everyone can just say "No" to an opportunity to have an extra £300 in their pocket

We don't make enough money to have integrity over £300

That has bugger all to do with it.

It's pure and simple greed.

I don't think it's legally OK, if you and the dealer agreed a sale then you have a contract. Whether they'll bother trying to enforce an oral contract is another matter but you giving them the V5 could be construed as evidence of an agreement.

You also seem to have very questionable morals, but luckily you're fine with that.

dan1980 - Member

LOL, I thought the OP had said £2-3k more (in which case, my own morals would probably come into question 😳 )

But for two or three hundred quid? Which they may try and knock off for a dent or a scratch when they come and see the car? Or they might bring their sharper more shrewd "son" around to "check it over".

You shook hands on it. FFS, does this kind of thing mean anything any more?

Wow, lots of high horses out and about today, how's the view from up there?

If it were a private individual that I'd agreed the sale with I'd give them a chance to pay there and then and settle the deal, if not then on to the next buyer. As it's a car dealer I'd have no problem whatsoever pulling out in favour of a better offer. They'd do it to you in a heartbeat.

You shook hands on it. FFS, does this kind of thing mean anything any more?

Shake my hand and you'll find out 8)

Perhaps the 'dear old couple' are on behalf of the dealer. You pull out of the dealer deal, they see it and decide against, you go back to the dealer asking for the deal again, but now you're on the back foot so when they offer you book value you're forced to take it.

Cunning. I should be a scam artist.

As it's a car dealer I'd have no problem whatsoever pulling out in favour of a better offer. They'd do it to you in a heartbeat.

How do you know? Should you pre-emptively go back on a handshake because you "reckon" he'd do it to you? Even though you have no idea whether he would or not? Surely the thing to do is to treat others as you would [i]like[/i] to be treated, not how you [i]expect[/i] to be.

how's the view from up there?

It's just fine thanks. When a simple thing like recommending someone stick to a deal on which he or she shook is viewed as being on a high horse morally, I shudder to think where the gutter is.

Shake my hand and you'll find out

The last time I did that blindfolded, it felt like you'd just given me your thumb. 😡

Notwithstanding all the morality issues, even if no one else witnessed the handshake, giving the V5 to them kind of indicates you agreed a contract of sale. I reckon it's sold.

it's pure and simple greed

you seem to have very questionable morals

Welching on the deal for a possible couple of hundred is a low , shitty thing to do

Integrity.

Do you have any?

Does none of that sound like moral high-horsery to you? We're talking about a guy trying to minimise his losses selling a car here, it's hardly ruthless profiteering.

The point about it being different as it's a dealer is because it's a [i]business[/i]. They're the ones trying to make money here and in business if you don't close a deal quickly enough (even if there has been an agreement in principle) and someone else becomes more competitive then you lose out.

The last time I did that blindfolded, it felt like you'd just given me your thumb.

It was cold that day.

thinking that way seems like a bit of a race to the bottom in terms of ethics.

fail. in a variety of ways.

I picked up a new (to me) car today.

I'd test drove it on Sunday, and agreed a deal (which included them doing a cam-belt service etc on it. Handshake'd the deal.

Went in to day to do the paperwork and pay.

I'd have been well-ar5ed if in the mean-time he'd have sold it to someone else.

Welching on the deal for a possible couple of hundred is a low , shitty thing to do . But you already know that , you just want people to tell you it's OK to help clear your conscience .

In general I would agree but this is a car sales company and capitalism so reap what you sow.

I would say to the dealer - look someone has offered me £500 more and I feel bad so if you meet me half way [£250] I will still sell to you- you think they would not play customers off against each other? They will be upset about your lack of loyalty? Invite you round for moral philosophy 101

I think , on balance, its reasonable to treat a business like a business but it would not be fair were it done to private individuals.

Does none of that sound like moral high-horsery to you?

No really, no. I guess it does to you though, from your own moral standpoint. We evidently have different compasses.

The point about it being different as it's a dealer is because it's a business. They're the ones trying to make money here and in business if you don't close a deal quickly enough (even if there has been an agreement in principle) and someone else becomes more competitive then you lose out.

That's just a load of guff to say that it's ok to go back on a deal. As I said, your moral compass obviously points to a different location to all of us elevated equestrians. 🙂

We don't make enough money to have integrity over £300

Yes, we all know integrity is the sole preserve of the super-wealthy. 🙂

Or they might bring their sharper more shrewd "son"

Tell us more about this so-called "son" of theirs. Sounds very dubious if you ask me.

*inserts comment about Lukes wimpy handshake*

Tell us more about this so-called "son" of theirs. Sounds very dubious if you ask me.

I guess what I was saying was that for the kind of money he's talking about, they might bring someone round to look the car over and try and knock off a few hundred quid anyway. "Oh, you didn't mention this scratch, or that it only had 6 months tax left"...or a multitude of other reasons. An offer over the phone is pretty meaningless really.

According to my moral compass an offer over the phone is completely binding. Welching on an offer over the phone is pure greed, a low down shitty thing to do. Pfft, don't people have any integrity any more?

According to my moral compass an offer over the phone is completely binding. Welching on an offer over the phone is pure greed, a low down shitty thing to do. Pfft, don't people have any integrity any more?

😆

Strange compass you've got when an offer over the phone means more than a face-to-face and a handshake.

I thought the bazinga was implied.

The serious point is that morality is not an absolute so why pick an arbitrary gesture like a handshake as the point of no return over, say a verbal offer being accepted?

The serious point is that morality is not an absolute so why pick an arbitrary gesture like a handshake as the point of no return over, say a verbal offer being accepted?

Well, a handshake is hardly arbitrary is it? I would have thought a face-to-face and a handshake had a lot more weight than a chat on the phone - but clearly it doesn't for some people. Unless you want to call it that as an excuse to go back on a deal. In which case, any reason will do really.

Your word is your bond sealed in a handshake..more so if you spit on it 😕

On the other hand an extra £300 can buy a decent wheels...a set of XT brakes etc...etc... Your call 😉 ..you know you want to

I guess what I was saying was that for the kind of money he's talking about, they might bring someone round to look the car over and try and knock off a few hundred quid anyway. "Oh, you didn't mention this scratch, or that it only had 6 months tax left"...or a multitude of other reasons. An offer over the phone is pretty meaningless really.

I should have put a smiley. I knew what you meant - I was trying to be funny. 😐

I would have thought a face-to-face and a handshake had a lot more weight than a chat on the phone

there

Where?

It would be like begging parts from people on STW because you were too skint to keep your bike running, and then selling them on the classifieds a few weeks later....

There's no way I'd walk away from a definite sale to get an extra couple hundred quid on the strength of a phone conversation. I've sold a few cars and motorbikes over the years and there's no shortage of 'buyers' out there who'll offer full price on the phone, only to start messing you about, or they'll come to get it and start haggling on the agreed price.
Not sure why you gave the dealer the V5 though 😕
If you didn't research the value of the car beforehand and short changed yourself then put it down to experience.

We've shaken hands, has it sold?

Yes, you have sold it.

Sell it to the dealer after all it's only £200-£300 differece...

From what's described, I don't understand what the big moral problem is?!

OP. "Will you by my car?"
Swiss Toni: "Go on, I'll give you some money. Drop down the V5 would you and see you Monday for the car"

*weekend passes*

OP. "Toni, I got a call and much improved cash offer privately over weekend; it was advertised elsewhere you see. Hope you understand I couldn't really turn that down and hope I didn't waste too much of your time".
Swiss Toni: "No worries; here's your V5"

EDIT: Although I do agree it's risky for the reasons mentioned previously; haggling will likely occur - I'd stick with dealer for what appears to be less than a 10% increase?

bearnecessities - Member

From what's described, I don't understand what the big moral problem is?!

Some nice people will understand and let you go, others will not and will want a chunk of you.

Yes, you have sold it.

No he hasn't. When I sell something I generally like to receive some money in return. As nice as a handshake is, I don't think I'd swap one for a car.

I'd say you are legally bound Luke but it's not worth their hassle to chase you to enforce it - although they could just refuse to return the V5.

As above a bird in the hand is worth 2 in the bush.

£200 to £300 extra... not worth the hassle and risk.

You have a 99.9% confirmed sale - take that.

wouldn't hand anything over at all until full payment,personally, unless you knew them somehow and trusted them. I'd also expect a deposit of some kind if there's going to be a delay in payment and the buyer is serious, although I can also understand the buyer not commiting to this, esp a dealer who can probably get something very similar next week.

Take the original price/ buyer imho if this is a small %,as others have said it's not worth the risk, plus you have agreed.If they start messing you around then that's different.

mind you maybe the dealer didn't pay up front so they could withdraw from the sale also?

Make sure this doesnt happen whent he little old lady shows up 😉

[url=http://] http://imgur.com/JcWAln0 [/url]

Personally, if I was the dealer I'd be a bit hacked off but he didn't take the car off you or pay you there and then, so I'd say go for it.

I'd say you are legally bound Luke but it's not worth their hassle to chase you to enforce it - although they could just refuse to return the V5.

I'd say this is true. Verbal agreements can be enforced. But more importantly you shook on it, that's a done deal in my book I wouldn't break it for £2-3,000 let alone a couple of hundred.

Why bother to shake hands on the deal if it doesn't mean anything to you ?

I misread the first post; I saw 2-3000!! Doh!

I probably wouldn't bother over £300, unless you're not going out of your way. If the dealer is that close to a private offer, it's a good offer.

Has he sold it yet?

Private buyers are very fickle creatures. Personally I'd consider already sold.

Both buyers told him to @@@@@ss off after reading this thread.
It will be in classifieds here next. Whatever you do, don't shake on the deal.
He has zero morals and is in bed with his mother.

😆