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I think, to win a lawsuit, even with a contract, you will have to show ACTUAL DAMAGES.
So, if you intend to sue, you need to get busy and generate some actual damages.
You find one of those $6,600 cars and buy it. You've now got $1,100 of actual damages for the difference of the price of the car you bought, and the $5,500 price you contracted for. You might then also get the $60 gas and tolls.
I hope it doesn't take an actual lawyer to get that $1,100 because his bill will eat into it pretty fast.
This 'anal bank worker' probably knows how the law works. And knows there is a very small chance anyone will sue to recover in this case.
I didn't know this, in a somewhat simular situation. And it cost me the charge from a lawyer for an hour of his time to explain to me how this works.
My opinion to you on this topic is free.
I spent a solid week looking for a used car, burning time/money/tolls, and
finally found a good one.
Agreed on selling price of $5500 ($300 less than asking), left check deposit
for 10% with very detailed purchase agreement stating that the seller agrees to
sell to me, with $5500 due in cash on or before Nov 4th 2005. This was
yesterday.
Today I get a call form the seller saying that someone offered him full asking
price and he sold the car to that person. He can't get it back because the guy
paid for it an took it.
I'm furious! According to Edmunds, the car is worth $6400, and KBB lists it as
$6600. I think both are a under estimated as this car was in perfect condition
despite being a 97 and having 80K on it. The owner was anal and maintained it
perfectly.
This is breach of contract, correct? I am going to ask for compensation from
the seller in the sum of the difference between KBB value and agreed selling
price, plus costs of travel to see the car ($60 in gas & tolls).
If he does not agree, what are my options? Should I get a lawyer to write a
letter?
The seller is a middle aged man that works in a bank. He seemed very
responsible and was the one who insisted on a very strick purchase agreement and cash
payment. I have told him that I plan to seek legal council and ask for
compensation based on breach of contract. He even asked how much, but I told him that I
don't know what the law allows and will call him monday.
cheers....Mike
I have no intention of persuing this in court, but on the off chance that he is paranoid of litigation (and I think he is, as well as other things) I will offer to settle the matter for $550, or the amount of my deposit. I don't want to ask for too much since then he will be more hesitant to settle. I think the other buyer probably sweetened the deal above $5800, so if he pays me $550 he will be none worse off than if he just sold the car to me.
As far as the comment that I should have paid cash instead of check deposit, well then I would be out a car and worried about retrieving $550. Whether it was cash or check, I don't think that would have made a difference to the seller.
The fact that between the sale and Novv4th was too long, we had actually planned on me taking possession of the car on Nov 1st, the first reasonalbe day that I could go to the bank and withdraw $5500.
cheers.
Mike
I will post how this matter is settled.
The fact he sold it our from under you speaks volumes about his character.
you should cool off and move on. Next time, have cash in hand.
Conversion vans are a DOG on the market and near impossible to sell at ANY price!
Value wise, I helped my grandma sell her custom van on Ebay after my grandpa passed away earlier this year. '96 Dodge Explorer conversion, high top, with TV/VCR and under 60k original miles. It went for about $6500, IIRC. eBay is probably closer to the mark than any of the other sources you're mentioning.
-Jason
Conversion vans are a DOG on the market and near impossible to sell at ANY price!
I've often thought, Craig needs to get out more. In reality, conversion vans are very regional, with most of them sold in the midwest, and very very few sold on either coast. In high-falutin' places such as Lansing, MI; Milwaukee, WI; and South Bend, IN, they are quite the thing to have.
But sadly, I think Craig has it right, and with gas at $3 (or now at $2.40), they are a tough sell... especially in the fall. They are even more seasonal than they are regional.
if it's really nice, I don't think it should be bought, private-party, for more than $6 and probably $5. I could believe $6-7 on ebay, but only for a leathered-up hightop. The darned thing is 7 years old, and they tend to loosen up and rattle over time... the less conversion stuff, the better they are, IMO.
I like 'em cuz they're great for travel. At $1.20 a gallon, anyway. Also, they'll carry two canoes and three if need be... but it's a shrinking market.
Tread carefully when buying from a friend. Maybe you should pass.
-Mathias
Conversion vans are a DOG on the market and near impossible to sell at ANY price!
I've often thought, Craig needs to get out more. In reality, conversion vans are very regional, with most of them sold in the midwest, and very very few sold on either coast. In high-falutin' places such as Lansing, MI; Milwaukee, WI; and South Bend, IN, they are quite the thing to have.
But sadly, I think Craig has it right, and with gas at $3 (or now at $2.40), they are a tough sell... especially in the fall. They are even more seasonal than they are regional.
if it's really nice, I don't think it should be bought, private-party, for more than $6 and probably $5. I could believe $6-7 on ebay, but only for a leathered-up hightop. The darned thing is 7 years old, and they tend to loosen up and rattle over time... the less conversion stuff, the better they are, IMO.
I like 'em cuz they're great for travel. At $1.20 a gallon, anyway. Also, they'll carry two canoes and three if need be... but it's a shrinking market.
Tread carefully when buying from a friend. Maybe you should pass.
BTW, is i really an "extended" van? Those are positively huge, like 230 in long.
-Mathias
Just like Hondas are NOT popular in Flint, MI!
I don't agree with the generalization. It depends on the market. I could sell ten of them in this county (Chicagoland) to a number of Hispanic and other recent immigrants who prefer them to the minvans and SUVs.
I do NOT have any vans in my fleet - and have no plans for any in the foreseeable future but ... I have 5-6 requests per year from people who are looking for them as family vehicles.
Please help
I think i have enough resources mostly from edmunds just don't know which direction to go in.. :confuse:
excuse me for being so elaborate....
Forget "asking" prices; they are often -- but not always -- ridiculously padded.
A more typical situation goes like this:
$12k car at the auction.
Pay the fee, get it home on a transport or have someone drive it: $12,400.
Say it's stand-up and needs only an oil change and vacuum; now the dealer owns it for $12,500 -- that's if he's paying with his own money... if he's running a credit account with the auction, it's more.
He'll put $15,800 on the car and put it up for sale. You can buy it for low $14s the next day. After six weeks go buy and nobody wants the car, he'll sell it for something in the $13s.
These are more typical margins in the business, forget the "$12 instead of $18" thing... I know a dealer who stopped buying off-lease Civics for a while because "on the low-milers, I can only make $500... if I buy the 70k cars, they go for much less and I can make a little money".
OK, so you CAN save money buying at the auction.
But you have 10-15 minutes to check out the car, and that is if you're careful and show up early. Has it been hit and repaired? Has it had an oil change, ever? Has it been smoked in? Is the AC drain clogged and it smells all musty when turnd on? Any leaks? If the car pulls to the left or shimmies at 50 mph, you won't find that out until you've paid and taken it away... there is protection against the most egregious problems, but not the little stuff.
Buying at the auction is neither for the faint of heart nor for the novice. You better make sure your buddy knows what he's doing before you plunk down money... in the end, you'll save some runnin' around, and maybe a thousand bucks.
You have to decide if it's worth it.
-Mathias
Have done and continue to do lots and lots of online classifieds searches and have found a few that peaked my interests, namely this one:
1993 Cadillac Fleetwood Brougham
-64.5k miles
-Cotillion White w/ Red leather
-Vinyl roof delete option
-Aftermarket power sunroof
It's at one of those "we specialize in financing everyone and rebuilding your credit" kind of places, in Baltimore. Somehow, some way, they have this posted on their site:
Retail: $9,990.00
E-Sale: $6,990.00
The car has been on AutoTrader for quite a few months (at least) now, and doesn't seem like anyone else has touched it. They have lots of pics and it looks nice, just needs cleaned, I think. Per Edmunds Used Car Values, which I've always found to be the most real world accurate, Private Party is $3,307 and Retail is $4,654.
Any thoughts? Being a relative expert in these cars and owning one already, there's NO way I'd pay a dime over even $4,000 for it. But, I'm wondering, since they've had it overpriced so much for such a long time now, what might be the chances of getting them to come down THAT much?
Think a lot of it has to do with the it being a "bad credit" kind of place?
But, unless they take a larger chunk off the price than they would off an identical car with 0 miles, it wouldn't be worth it. Case in point, 3 years ago we were looking at Avalanche's and just test drove one on the local lot to get a feel for them--the truck was technically brand new, but had 6,500 miles on it. For whatever reason, they were still letting people at the dealer continue to drive it, and just try and sell it at the same time. Just to get an idea, we sat down and were given a deal of an extra $1,000 off for the miles, which just wasn't worth it, in our books. Mainly because, for an extra couple bucks a month, we could start off with the same truck with no miles, and no wear.
Maybe ask someone you trust to help you. If not, then it may be better to buy a modestly priced new car that has a good reputation and keep it for a ong time.
The Baja, for a number of reasons was a major flop for Subaru. They didn't sell well as new cars and they don't do well in the used car marketplace.
That said, they certainly are not bad cars. They just didn't appeal to many people. Because of this, you really ought to be able to buy one at a great price.
These are NOT popular cars and they typically sell for below book values.
With that many miles, it was probably driven by one of the managers. The warranty will be whatever it is less the miles on the odometer.
Nothing wrong with these cars, but if someone is afraid, they just should pay more and get a fresh car.
The only thing that made me wonder with this one was that, even though overall the rest of the cars they have seem to be priced accordingly, this is the oldest car they have and they're advertising it at a price it isn't at all close to true market value. It has been there for quite some time, at least according to their web listings, so maybe it's just become the forgotten car hidden back in the corner.
Regardless, I've emailed them and am anxious to see what kind of response I get. I'm mainly just looking for a casual use "collector" of sorts--actually, I guess it falls more into the antique realm at this point than just used :shades: It'd be awesome if I could "take it off their hands" for a great deal, though. They're getting rarer and rarer, especially ones optioned attractively with low mileage--unpopular to the masses, as they may be.
Any clue on a figure you'd think it might sell for, real world?
Regardless, I sent an inquiry on the car via their site, and will give that a couple of days before going any further.
Thanks
PS i was looking to buy around the 2nd wk in dec-
anyone have luck with barnone?
Is this your first car purchase, how old you are and how's your credit?
What am I doing wrong?
The market always changes, and it changed some weeks back when gas spiked at $3/gal. At that point, Corollas were fetching book and over. Now it's backed off a little, but fuel efficient is still hot, and Explorers are ice cold.
What are you looking at? If you tell us, somebody might have an idea on what to offer.
-Mathias
It's any one or combination of these three things:
1) They paid too much for the car or it cost them a ton in their service department.
2) They have had the car for a long time -- i.e. $7600 was the right money on it many months ago when they got it.
3) They're lying.
This may not be the time to buy a fuel-efficient car used... gas is back down towards $2/gal but the prices are still sky-high.
No way would I pay that kind of money for this car.. not even TMV. If you need some wheels right now, buy the best Taurus you can for $4k ('01 w/ 80k miles, say).
-Mathias
If you HAD to have a Corolla, I would go to a Hertz Car Sales place and see what they would charge you for a one year old with 25k and I would look at buying NEW.
Me recommending buying a new car ... all the time in the cold weather watching the football game has effected my brain ...
I disagree with Mathias here. A Corolla in good shape with decent miles will sell for above book value at least in my area. You may get frustrated when you can't buy a car like that for what the books say you can.
And, I'm fearful of a Taurus. The CAN be very good cars with minimal problems. They can also be big money pits.
A good one can be a lot of car for the money. Just make very sure it IS a good one that's been checked out!
Actually, we agree on that.
What I'm saying is, in that situation, buy something else.
Eight thousand bucks for a 6-year-old economy car that I can buy new for $14 or $15 is not a good deal. Even if the market will bear it.
Unless I can think of something more sexy, I'll be buying a newish 90k Taurus next spring for $3+... and sell it in the fall. I don't expect any serious failures, but I shall report then...
-Mathias
Should I trust this "list" to be true?
I was thinking the same thing.
The maximum I can spend is $15K. The only car that I'm willing to spend that much on is a Mazda3, which I'm having no luck finding.
I'd like a compact, reliable sedan (4-door). I'd like to purchase 2004 or newer.
I've got an offer on a 2005 Nissan Sentra 1.8s for $12,700 OTD. Should I stick with that or keep shopping? Any suggestions would be very welcome.
17F at noon in East Lansing, and 20 mph wind. Loverly.
My advice to you is to either:
- Buy a new Civic, Matrix, Corolla, or Vibe
- or buy a used Taurus or Century or Impala ('02 - '04) for a bunch less money. $5-8 depending on miles... you'll save a bundle on insurance, too... price it out, you'll see.
Two-year-old small Japanese cars sell for not enough of a discount. The new Civic sounds (and to me, looks) phenomenal... Yeah you'll pay sticker, but it's worth it.
As far as not finding a Mazda3; that's a nice car but it ain't cheap... for good resale, go with a new Honda or Toyota. And get GAP insurance, just in case.
I'd offer you a 5sp 04 Vibe for an attractive price, but the wife, she'd kill me ;-)
-Mathias
EDIT: Scion xA or xB is hard to beat for quality, and it's right in your price range.
I think it is pretty hard to buy a new car for 15k OTD, unless it is an Accent or an Aveo - wouldn't an Elantra push against this ceiling after all the taxes and fees?
As you pointed out, one option is to stretch the budget "slightly" and go for a new Civic/Corolla/Matrix. I am a little surprised you are recommending a new Vibe - these are indeed great deals used (especially if not former rentals), but new? Higher price and lower resale (and less warranty, no?) than its Toyota twin?
The other option is to go used and pick one of the usual suspects - a recent (2001 or newer), professionally inspected Vibe/Prizm/Protege/Impala/Taurus. While I always tried driving small cheap cars, I have a strange attraction to an Impala after a weeklong rental. Especially if one could be found with less than 4-5 clashing interior colors and "themes"...
How do you like the Thanksgivin weather we're having?
17F at noon in East Lansing, and 20 mph wind. Loverly.
How do you like the Thanksgivin weather we're having?
17F at noon in East Lansing, and 20 mph wind. Loverly.
46F under gentle sun this morning in Minneapolis, bracing for a rain turning into snowstorm.
It's a bit of a pain to compare the Matrix/Vibe duo, it depends on the equipment and the phase of the moon.
The Vibe can make sense if you get conquest rebate, a little GM Card money perhaps, the "in-the-driveway" program, and otherwise the car at invoice... you have to try it. The better resale is a point.
"Good deals used" my foot... when gas hit $3, the little buggers went clean through the roof... it may have cooled off now, but fuel-efficient cars really went pretty high there for a while... AFAIK, no '04 Vibe with under 40k miles went through auction for less than $10 last month... they were doing that last year, when they were half as old.
I paid $13 for mine two years ago and should be able to get nearly $12 on the street. Let's hear it for the General and his wonderful credit card program.
Of course, if I sold it, I'd have to get something else, and there's nothing out there for that kind of money that'll do me as well.
As far as the Prizms, they're pretty dear as well now. IF you can find one.
-Mathias