what's the used car buying etiquette these days?

[The motor guy]

It sure is rough trying to buy a car these days. You have to have cash in your hand when you go to buy I guess. It seems like even if you do agree to a price, they'll still sell it to the next guy who comes around. Is me going to look at a car tomorrow and then meeting at the bank monday morning to give them a cashiers check okay? Or was I supposed to pull $15k in fresh hundred dollar bills from the bank beforehand?

 

[eljefino]

Private party or retail?

I bring cash. $15k is out of my league but a couple thousand talks for me. For $15k I'd bring a friend to hold onto the money while I crawl around under the car. Your competition will have some excuse as to how they'll get the money Monday when the bank opens. You want to close the deal today, and so does the seller.

Retail, if you put money down and start a contract they'll hold the car. But they're just as likely to lie about it being there if you call.

If you spot something you like on FBM or CL, email immediately, and ask to see it ASAP, when does it work for you (seller), you (buyer) are available anytime tonight or tomorrow.

Don't try to talk someone down on price over email, do look sane, mention your town and phone number in case the seller prefers to contact you that way. If you want to haggle, look the car over. If the seller points out some faults, say those don't bother you, but "X" does, or just say it's not quite what you're looking for but could still offer "Y", right now, in cash. It is irritating and offensive to show up, where someone mentions a car needs tires in an ad, then say "yeah well it needs tires so all I can give you is "Z."

If a deal is good, the seller will be overwhelmed with responses. You want to be first, but not pushy.

If you message and don't get much feedback, the seller has another shopper coming to look, someone who was in line in front of you. They're holding onto your message as a "safety."

 

[The motor guy]

So people really do bring 10k or 15k in actual cash? Everyone i've talked to said not to do that. lol I think it's like you said, just set aside a day or two and sit behind the computer with your finger on the refresh button to be that first guy on a fresh ad.

 

[NormanBuntz]

If you are purchasing a vehicle, you can always buy a bank cashier's check at your bank payable to the seller, and if the deal collapses, you as the check purchaser always have the right to return to your bank to void it and cash it out.

 

[eljefino]

I would not accept a bank check if someone showed up with one. Too many scams. Plus how would you know how much to make it out for?

The only way I'd take the check is if we went to the bank together and the teller handed me the check. I'd probably cash it on the spot, too.

 

[leadcounsel]

This seems pretty obvious. Sellers and Buyers are all tired of scams, looky-loos, tire kickers, time wasters, low-ballers, and such. Selling and Buying can be a royal pain and both parties have to be on guard for con artists. Scams are everywhere and we're all tired of it, just as low-ballers are tiresome.

Here's the deal. As a buyer, go physically get the cash and understand what you need to sign if you buy the vehicle in your state. It may be unsafe to carry the cash to the inspection of the vehicle, but have it available at home or nearby (a trusted person, waiting at the local coffee shop, whatever). The last vehicle I bought, I inspected it and then the seller came with me to the bank during business hours, I made the withdrawal and we did the paperwork.

If I were selling I would not accept anything other than cash, wire transfer within my own bank which the bank could verify immediately, or an asset I could verify in hand. I would not take any check whatsoever unless it was something like a PO Money Order or a Money Order drawn on my bank, that I could deposit it on the spot in my bank and have the bank instantly verify funds.

Also: I'm always armed and alert. I'm not a typical victim. Good luck robbing me.

 

[92saturnsl2]

I'd say the majority of $10K+ transactions have a lien on the title, so there would normally be a runaround to get the transfer completed. So seller in that scenario is probably looking for the best offer.

But no, I'd not be showing up with $10K cash in my hand, even if a friend brought it.
Be the first to jump on a good deal is all I can say-- and in the used vehicle market (especially <10K vehicles), be prepared to take your time. There are a lot of seemingly good deals at first glance, but I know lots of folks that bought a cheap vehicle that was too good to be true.

 

[tbm5690]

I sold my vehicle for 11K a month ago, buyer brought cash. I had asked prior for a cashier's check (he was coming from 2 hours down the road) but he had already gone to the bank and pulled it. I told him I was fine with it as long as he didn't mind driving to my bank to deposit it...too many fake bills floating around. Nothing on him, they're just in circulation. He negotiated $500 less than asking which I accepted, has he brought the cashier's check I would have perhaps cut him personal check back for the difference or pulled cash for him. Since he brought cash of course the advantage was he paid exact.

For what it's worth, it's not hard to get a good read on someone...we talked prior on the phone, he asked legitimate and specific questions, brought his wife to the deal, etc. All was very smooth. I paid for the replacement vehicle with a cashier's check...dealership required it.

 

[92saturnsl2]

I sold my vehicle for 11K a month ago, buyer brought cash. I had asked prior for a cashier's check (he was coming from 2 hours down the road) but he has already gone to the bank and pulled it. I told him I was fine with it as long as he didn't mind driving to my bank to deposit it...too many fake bills floating around. Nothing on him, they're just in circulation. He negotiated $500 less than asking which I accepted, has he brought the cashier's check I would have perhaps cut him personal check back for the difference or pulled cash for him. Since he brought cash of course the advantage was he paid exact.

For what it's worth, it's not hard to get a good read on someone...we talked prior on the phone, he asked legitimate and specific questions, brought his wife to the deal, etc. All was very smooth. I paid for the replacement vehicle with a cashier's check...dealership required it.

I'm confused. He paid exactly $500 more than the negotiated price?

 

[The motor guy]

I'm confused. He paid exactly $500 more than the negotiated price?

I don't see where it says that anywhere. He paid cash, so he just gave $500 less. If he had a cashiers check, he would have been stuck with the amount

 

[tbm5690]

I don't see where it says that anywhere. He paid cash, so he just gave $500 less. If he had a cashiers check, he would have been stuck with the amount

Correct. I was asking $11,500, he offered $11,000 after seeing it and I took it.

 

[The motor guy]

I went and looked at one today and as soon as I got to the address which was a gas station, he wasn't there, then he texts me another address which was his house down the street. I just left and went home. That seemed too weird. I drove by and there was no pickup in sight. Why wasn't he at the gas station with the truck? Then he kept asking me what I was driving, probably so he could see me, but that just seemed weird to me. Kind of a waste to drive an hour each way but oh well.

 

[John105]

try to act like EB and you’ll be fine

 

[dfarr67]

As a seller I don't go out of my way to meet- been stood up too many times.

 

[The motor guy]

As a seller I don't go out of my way to meet- been stood up too many times.

I agree, but you can atleast meet at the address you gave the buyer. I thought about it after a while and I think the guy sells stuff all the time and has people go to the gas station, then if he gets stood up he can just go about his day and not worry about when some random guy is going to show up at his house.

 

[97prizm]

It sure is rough trying to buy a car these days. You have to have cash in your hand when you go to buy I guess. It seems like even if you do agree to a price, they'll still sell it to the next guy who comes around. Is me going to look at a car tomorrow and then meeting at the bank monday morning to give them a cashiers check okay? Or was I supposed to pull $15k in fresh hundred dollar bills from the bank beforehand?

Be early but not too early. I like Ed Bolians approach be a shrewd negotiator. Know as much as you can about the vehicle you are looking at. Stand firm, and If you have to (I hate saying this) but use the dealership trade-in tactics. Note several issues with the vehicle that need to be addressed and how that could cost you. Don't act desperate or you're hosed. If you come across firm honest and ready to buy it should go well.

 

[leadcounsel]

I thought about it after a while and I think the guy sells stuff all the time and has people go to the gas station, then if he gets stood up he can just go about his day and not worry about when some random guy is going to show up at his house.

Bingo.

The seller probably has found it easiest for himself to tell people to go to the gas station because of flakes leaving him hanging all day. He probably doesn't want to have to be beholden to person 1 for hours and unable to give his address to person 2. I've been in that situation, giving my address to someone who is "nearby" but they don't arrive for 6 hours making me hostage to my house and unable to cancel on that person without worry they will still come to my house and even extract revenge...

 

[The motor guy]

Bingo.

The seller probably has found it easiest for himself to tell people to go to the gas station because of flakes leaving him hanging all day. He probably doesn't want to have to be beholden to person 1 for hours and unable to give his address to person 2. I've been in that situation, giving my address to someone who is "nearby" but they don't arrive for 6 hours making me hostage to my house and unable to cancel on that person without worry they will still come to my house and even extract revenge...

At the time it just sounded fishy, like why is he waiting in a different truck? Where is the one I was looking to buy? The property was like 1000ft deep. That also meant he probably just picked up that vehicle from who knows where also and didn't even own it.

 

[92saturnsl2]

I don't see where it says that anywhere. He paid cash, so he just gave $500 less. If he had a cashiers check, he would have been stuck with the amount

I re-read it and it makes perfect sense now. I think the wife fed me one too many glasses of wine last night (I'll blame her even though it was probably my own doing); doesn't take much these days.

 

[92saturnsl2]

try to act like EB and you’ll be fine

That was very painful to watch.