Guy buys car. Guy leaves deposit...then backs out.

[MRVW00]

I'm selling a car and this guy wires deposit money for the car, then decides to back out claiming he wants a nicer version than mine, AFTER he's seen a ton of pictures, and consummated the deal.

Would you feel obligated to send the deposit back?

[Hostile]

Did you tell the guy his deposit was non-refundable?

[compy222]

it would seem he gave you money to hold the vehicle as a form of pre-payment.

i don't think i would refund the money. to me a deposit means i have made a verbal or written contract to purchase that specific vehicle. did you write him a receipt for his deposit or have written correspondence about the deposit beforehand?

[OOOO-A3]

I'm selling a car and this guy wires deposit money for the car, then decides to back out claiming he wants a nicer version than mine, AFTER he's seen a ton of pictures, and consummated the deal.

Would you feel obligated to send the deposit back?

Personal or business transaction?

Any discussion or posted statement of the deposit being non-refundable?

[SoCalDubber]

Did he ask for the money back? How much was it?

[Hostile]

it would seem he gave you money to hold the vehicle as a form of pre-payment.

i don't think i would refund the money. to me a deposit means i have made a verbal or written contract to purchase that specific vehicle. did you write him a receipt for his deposit or have written correspondence about the deposit beforehand?

I made a $500 deposit when we were buying our Outback to secure the dealer transfer. It was still 100% refundable in the event we changed our mind once we saw it.

[Art Vandelay]

Depends; does he know where you live? Sometimes it's not worth the trouble if you're worried about getting vandalized or something.

[Klim18]

Just be like "What money?"

[x_GTI_x]

why wouldnt you give the money back?

[sicksappeal]

A deposit is assurance to the seller that your time has not been or will not be wasted. Backing out of the deal at this point in the sale certainly seems like a waste of your time to me. Retaining the deposit would seem like payment for your wasted time, depending on how much he gave you up front. Enjoy your paycheck!

[.LSinLV.]

contract = offer, acceptance, consideration

all 3 were met. I'd say you are good.

[Quinn1.8t]

I had a deposit down for a UrS4 a couple years ago before my parents realized it would be a poor first car for a 17 year old. The guy gave me half my deposit back, which I thought was fair.

[Art Vandelay]

I forgot to ask if the guy was a Nigerian prince.

[MRVW00]

Did you tell the guy his deposit was non-refundable?

YES.

Personal or business transaction?

Any discussion or posted statement of the deposit being non-refundable?

Personal. one of my own cars.
Discussion when I sent the wire info. He's from NY and I'm in the midwest. My words were "It's not refundable. If you decide you want a blue car tomorrow, it's not my problem."

Did he ask for the money back? How much was it?

He did.
$500.00.
Since the car has been "off the market" I've received calls that I've had to refuse.

[MAC]

nevermind.

F him. Keep the money

[turbo_nine]

He did.
$500.00.
Since the car has been "off the market" I've received calls that I've had to refuse.

Those leads do still exist, unless you told them to F off or something.

[SoCalDubber]

How much are you asking for the car?

[MrMoon]

YES.



Personal. one of my own cars.
Discussion when I sent the wire info. He's from NY and I'm in the midwest. My words were "It's not refundable. If you decide you want a blue car tomorrow, it's not my problem."



He did.
$500.00.
Since the car has been "off the market" I've received calls that I've had to refuse.

Then you just made $500 for him wasting your time. No question about it.

[Hostile]

Did you tell the guy his deposit was non-refundable?

YES.

Then what is the purpose of this thread?

[RQ1]

I would be dissapointed, but ultimately the correct decision is to give him his money back.

[.LSinLV.]

Those leads do still exist, unless you told them to F off or something.

except that he hasn't sold the car...the deposit was to hold it for a specific seller, and others were turned away.....and the depositor was told the deposit was non-refundable.

time to tell him to pound sand.

[Kylen721]

YES.



Personal. one of my own cars.
Discussion when I sent the wire info. He's from NY and I'm in the midwest. My words were "It's not refundable. If you decide you want a blue car tomorrow, it's not my problem."



He did.
$500.00.
Since the car has been "off the market" I've received calls that I've had to refuse.

Wow based on that I am guessing it is more of a "can't hurt to ask" type deal.

Under those circumstances no way would I return the money.

[SoCalDubber]

What color hair does he have?

[cryption]

Typically it's about the wording

A "deposit" is inherently refundable

A "fee" is not. As in a holding fee, pre-purchase fee etc

[slomofo.]

why wouldnt you give the money back?

because when you take a car off the market with the intent of selling it, you make it unavailable for purchase to anyone else. if you are going to waste the seller's time and possibly take away any opportunities for a different potential buyer, you need to be serious when giving a deposit, not just tire kicking. with that said, if you said it was refundable, you need to honor your word.

[SoCalDubber]

Does your car have good stance?

[cryption]

Just read the part where you told him it is in fact non-refundable. Enjoy the cash, time for hookers and blow

[Seabird]

I would be dissapointed, but ultimately the correct decision is to give him his money back.

No it's not. The purpose of the deposit is to withhold the asset from any other potential buyer. The OP lost potential sales because of the deposit.

OP should keep the money.

[.LSinLV.]

Just read the part where you told him it is in fact non-refundable. Enjoy the cash, time for boy go-go dancers and blow

FTFY

[SoCalDubber]

Does the guy speak any other languages?

[fastmaxxcooper]

I don't get what the point of a deposit is, that if after someone leaves a deposit, backs out, wants their deposit back.

Its an unnecessary transaction if it holds no weight.

[mhjett]

What color hair does he have?

I'm sure OP would hook you up with his phone #.

[.LSinLV.]

Does the guy speak any other languages?

WTF is up with you today Brandon?!?!?!?!

[2.0T_Convert]

I'd be worried about him showing up late one night with a sawed off shotgun.

[AKADriver]

Am I the only one who smells a scam?

You say he wired the money... what service did he use? Any chance the money might be discovered a fraud and disappear from your account?

Seems like a straightforward scam.
1. Use forged money order or cashiers check as refundable deposit on a car, claiming to be an out of state buyer
2. Ask for refund before the seller's bank takes the hold off the deposit
3. If the seller writes a legit check as refund, you've just made a profit