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Almost sold my truck...changed my mind! Too late?

Discussion in 'Fred's House of Pancakes' started by ewxlt66, Nov 29, 2012.

  1. ewxlt66

    ewxlt66 Active Member

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    Took $200 deposit from a guy working for a wholesaler...cash.

    Agreed on Saturday for the transaction.

    Wife and I decided we need to keep the truck though.

    I want to give cash back and walk away.

    You guys think they have any legal recourse?

    I wrote out a receipt of sorts that says I took his $200 and what the selling price was.

    Fingers crossed they don't take me to court!

    I contacted him and told him I want to return the deposit along with $50 for the hassle.
     
    #1 ewxlt66, Nov 29, 2012
  2. The Electric Me

    The Electric Me Go Speed Go!

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    Someone more versed on the specific laws will probably give you a better answer.

    I'd think you probably will be okay, if only because I think most people, even if highly disappointed are going to be hard pressed to want to go to the trouble of suing you over the sudden withdrawal of the vehicle for sale.

    Let's just hope for some reasonable understanding....that people sometimes change their minds. It's why you took a deposit to start with....it's why you are returning it now.

    Also if this guy is working for a high volume wholesaler, I'd also bet that your transaction may only be one of many on his radar.....they may not care as much about this as you do.
     
    #2 The Electric Me, Nov 29, 2012
  3. ewxlt66

    ewxlt66 Active Member

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    This is what I'm hoping for!

    While looking at my truck he told me the whole process of wholesaling.

    Today when I told him I was backing out he says, "You can't I just sold my car!" Haha. I replied, "No you didn't..you're a wholesaler." He gave in.
     
    #3 ewxlt66, Nov 29, 2012
  4. Adam Leibovitch

    Adam Leibovitch Member

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    I don't think it would be worth him suing when you have already given him all the money back plus 25%. If he already has made an agreement to resell the car, or was relying on having the car for some other reason, its possible he could have a case to claim damages. When you talk to him he will let you know how he feels about it.

    edit: Looks like you talked to him already. Ouch, he is a sharp one, claiming he already sold his vehicle is a great response.
     
    #4 Adam Leibovitch, Nov 29, 2012
  5. ewxlt66

    ewxlt66 Active Member

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    Oh yes, he's a pro. I think it's going to work out. I'm driving to meet him to give him deposit back.
     
    #5 ewxlt66, Nov 29, 2012
  6. ewxlt66

    ewxlt66 Active Member

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    Gave the deposit back today. All is well.
     
    #6 ewxlt66, Nov 30, 2012
    Adam Leibovitch likes this.
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