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.

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. I’ve said I’d better check the legality of this- I’ve not signed anything, are we within our rights to say to the dealer “we’ve got a better offer, please can we get out V5 back?” The dealer is already offering about £500 above their book price and is not willing to offer any more.

Has my handshake sealed the deal or are we still OK to sell it to this other person?

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 Bridgwater some parts of Norfolk

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.

But you expect it of others?

Dont be surprised when that dealer comes around and sets fire to your warehouse 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

munrobikers accountant I assume?

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.