deposit for private car sale

gazfocus

sush40 wrote: »

He only asked for a deposit because I didn't want to pay the car before he cleared the finance, and also so I can sort out my insurance in the meantime (insure the car before I drive it home).
In his text he says '' I would need a deposit paid into my bank before I turn down anyone else viewing the car or taking it off the advertising sites'' which I think is fair enough.
Anyway I cant insure the car before I pay for it I suppose? so couldnt be able to drive it right after paying him?

I would still make it clear that should he change his mind, you will require the deposit back in full.

You can insure the car for a future date (usually within 30 days) so you could arrange the insurance to start on the morning you will be collecting the car.

nidO

sush40 wrote: »

He only asked for a deposit because I didn't want to pay the car before he cleared the finance, and also so I can sort out my insurance in the meantime (insure the car before I drive it home).
In his text he says '' I would need a deposit paid into my bank before I turn down anyone else viewing the car or taking it off the advertising sites'' which I think is fair enough.

I don't think it is fair enough. The only reason you aren't buying the car immediately is because he still has finance on it, so it isn't his to sell.
Him asking for a deposit while waiting for him to put himself in a position where he can sell the car that isn't currently entirely his is either cheeky beyond belief or an outright scam.

If you really want the car I would just reply to him and tell him that you're sorry for any misunderstanding but no deposit will be being paid, because it's him that isn't in a position to sell you the car yet, not that you aren't in a position to buy it. As soon as he is, you will.

sush40

Texted him saying 250 was too much if I picked the car within a week, and managed to get it for 150. I said I could either pay 150 or come back tomorrow and pa the full amount if he proved the finance has been cleared . He said he would ring the finance company in front of me to pay it off as a proof

sush40

He said he would pay the finance by phone in front of me as a proof he's clearing it, probably because he wants to make sure i'll give the money on the same day. Is it a genuine proof?

Foxy-Stoat_3

sush40 wrote: »

He said he would pay the finance by phone in front of me as a proof he's clearing it, probably because he wants to make sure i'll give the money on the same day. Is it a genuine proof?

If you go armed with the HPI report, you dial the number and hand the phone to him and put it on speaker so you can hear that the finance company confirm that their interest is no longer you can proceed.

If the seller is worried, go there with cash in your hand before he clears the finance. There is no risk for the seller as he still has the car, the finance is in his name and he will clear the finance so if you suddernly pull out of the sale, which would be unlikely, he would still have the car that is finance free.

He doesnt need to take it off whatever the site is he is using until your down the road.

sush40

I just find it a bit risky to hand the money right after he made the phone call, I prefer to get a written proof of what he's paid. If something goes wrong I would have no proof he has made the phone call and paid, and because I would be aware of the outstanding finance before I paid I would have no rights to pursue him.
Why wouldn't he pay for it right now? He's got to do it at some point before he sells the car anyway...

Marktheshark

He technically committing fraud by attempting to sell a car to which he does not own legal title, it belongs to the finance company .
If you think giving someone trying to commit fraud £250 of your hard earned cash is likely to work out well for you, then I am sorry to say, you are just going to have to learn such a lesson in life the hard way.

Walk away, find another car, con men are convincing.
He will probably be ringing his partner and your money is long gone.

Foxy-Stoat_3

Maybe is doesnt have the money, or would rather wait until he has a buyer to clear the debt keeping the cash in the bank and making the repayments...or he is trying to scam you.

You would stand there while he makes the payment, so you can hear the finance company say they have no interest in the car anymore, taking a name and reference for the payment, all noted on the receipt.

If you think that you wouldnt sleep at night, then choose another car.

Whats the price of the car.....is it like half of what it should be?

Have you HPI'd the car already?

sush40

I think that's because he would wait until he finds a buyer who is sure to buy the car; he's only advertised the car a week ago.
The car is a Polo from 2010 and it looks very clean inside/outside and runs well (i test drove it yesterday). All the papers seem to be in order too, i checked.
When I said the deposit of 250 was too much, and I'd rather pay 150, he agreed without a problem; he really seemed like a genuine guy but like I said i'd rather not hand the money without a WRITTEN proof of final payment to company

Foxy-Stoat_3

sush40 wrote: »

I think that's because he would wait until he finds a buyer who is sure to buy the car; he's only advertised the car a week ago.
The car is a Polo from 2010 and it looks very clean inside/outside and runs well (i test drove it yesterday). All the papers seem to be in order too, i checked.
When I said the deposit of 250 was too much, and I'd rather pay 150, he agreed without a problem; he really seemed like a genuine guy but like I said i'd rather not hand the money without a WRITTEN proof of final payment to company

Have you HPI'd the car?