[MMike]

Well as my car selling transactions never go smoothly, here’s my latest

I’ll try to give you the short version:

Friday, very very stupid man calls about my jeep. Sat, very very stupid man looks at it, and makes me a near-insulting offer, but I have to take it. He is then insulted because I would not accept a post-dated, personal cheque for my vehicle. I of course insist on something a little better than that.

So he gives me a $5000 personal to hold the Jeep while he sorts stuff out with his bank. (As he is financing. He apparently doesn’t understand how car loans work).

So after many voice-mails over the past few days, to both he and his bank, I’m getting nowhere with them, and this whole transaction is looking like it’s going to fall apart. I’m kind of on a schedule here.

My question is, when am I allowed to declare this a forfeit, and when (if at all), can I cash his $5000 cheque?

 

[MTB_Rob_NC]

Vehicle sales laws vary by state (or wherever you are). However in general you cannot cash his check (sorry). The check is a part of the contract to sell your vehicle, so if you didnt actually sell it you would be hard pressed to cash his check and not turn over the keys and ownership to the car.


Good luck

 

[RhinofromWA]

I don't think you can cash the check without giving him the vehicle.

After he gave you the check, how long did you two discuss holding the truck for him? Any length of time? He gave you a monetary (though a check) consideration (a down payment as I doubt he gave you $5G of non-refundable money to just hold it) to to buy him time to line up financing.

I would contact him and say you are moving home (Canada) and need to move this quick. Give him a definate time schedule that he needs to get his stuff done. Don't stop selling your truck but make new possible buyers aware this guy has "dibs"

Is the offer so low you can't unload it on a car lot for cash?.....not the best to do but it doesn't sound like you are getting very far on your own.