What would you do?
 

Say you had to back out of a car deal at the 11th hour.

Deal made, just finalizing things. Then no deal.

Would you try and make things right with the seller? If so, how?

It's never over till it's over. Everyone should move on. Of course I would keep your deposit.

I agree, no hard feelings...but the deposit is gone, and I'll find another buyer.

Golden Rule :)

I'd figure out the best possible solution that would be possible for me if the shoe was on the other foot and then do that.

If you're the buyer and you backed out; how would you feel if you were the seller in the situation? Communicate and see wazzup?

Good things always come back to you; (so do bad things)

When I was selling my VW I had one guy back out... I wasn't happy but I got over it... The way I see it nothing is final till the seller has a stack of bills and the buyer has a new car....

Money and Title should be exchanged simultaneously.

Before that happens, there is no deal- Just talk. After that happens, it's already done, with no way to back out.

My cousin used to sell cars, and they had a term for when the deal is done--"Not til the taillights are down the road."

That's what the deposit is for... If you back out, you loose the deposit.

No deposit. Just a verbal 'handshake'. He's out of state, so we've never even met.

I'm the buyer, and am pretty sick about having to back out. I was thinking about kicking him something for his time, but I'm not quite sure what.

don't fever over it - remember, its business and nothing personal (unless it is personal business).

Do you have a signed bill of sale? That's your legally-binding contract to purchase the car. If not, and no deposit made, then you're free to back out. Yes, it sucks for the seller, but that's not at all uncommon.

If you do have a bill of sale and you back out, the seller *could* go after you in court, but really, it's just not worth the time.

If you feel bad, send a restaurant gift card.

The deal is final when the keys and money switch hands - then the handshake

you should sue him for making you feel guilty

Was that the Corrado? I may have that stack of bills! :D

A friend of mine and his wife went out and signed the papers for a new camper, the next day he came to work and got laid off. 25 years at this place. He went back and told them he didn't have a job and they canceled everything. People know, stuff happens.

Well at least you have a conscience:D

From a legal standpoint, you two did not have an enforceable contract since there was no apparent mutual consideration (i.e. a security deposit and an agreement not to sell to someone else). But I understand your feelings.

I guess I would "make him whole." If he detrimentally relied on your promise to buy and suffered damages (i.e., he had to pay an ebay commission whether you went thru with the deal or not or he had to incur additional expenses of another classified add, etc.) I'd reimburse him for anything reasonable. Now if he says "Well, I turned down another guy who had cash because I thought you were buying it and when you backed out my house got foreclosed because I was counting on getting the money and catching up my house note so buy me a house..." THAT ain't reasonable damages and tell him to take a hike.

Probably a sincere, honest letter about why you had to back out and an offer to make him whole by paying whatever expenses he incurred as a result of you not going thru with the deal would assuage your guilt. Nothing for pain and suffering and mental anguish, tho:D

Yes, and send him a bottle of wine or something if you want.

I vote for a "reach around".....