Sale advice needed

PorscheRB · 12-15-2004, 02:18 PM

For selling my car, what is the best way to handle PPIs and deposits and inquiries from multiple buyers? If someone wants to make a deposit and then have a PPI at their leisure, should I turn away other buyers? Set a deadline to make an offer by?

What is the best way to handle this?

Thanks

Ian

Por_sha911 · Por_sha911's Garage

I would be offended if I spent money on a PPI and then had the car sold out from underneath me. I would say to have them talk price up front and then have a PPI if you can agree on the price. This way, when they have the PPI done, they either bring back a check or the car...
Don't hold the car on goofy "I'll be back Friday" $50 deposits. Just be up front and tell them first one with the money wins.
p.s. this is my opinion after being a car salesman for almost 10 years (including Porsche).

ubiquity0 · 12-15-2004, 02:34 PM

Set a reasonable deadline. i.e. a couple business days to get a ppi then a couple days for the prospective buyer to make a final decision. You can answer questions from other buyers during that time, but would be bad karma to sell the car to someone else while you hold the first guy's deposit.

Grady Clay · 12-15-2004, 02:41 PM

Here is a good thread and has some draft agreements you can mod and use.

“Purchase agreement”
the buying process

A good agreement represents both parties’ best interests.

Best,
Grady

Eric Coffey · 12-15-2004, 02:48 PM

If someone has given you a deposit, you should outline a reasonable time frame to submit the balance, or decline the sale. A person shouldn't need more that a few days after the PPI to make a decision, and most offers are made the same day, right after the PPI results are in. Even if someone hasn't given you a deposit, but has scheduled and/or paid for a PPI, that person should be given the first right of refusal.

kbruz · 12-15-2004, 03:16 PM

If you really want to sell the car then I suggest that you do the PPI yourself and have the shop that does be available to answer any questions about the car.

My friend purchased his car in this manner. The seller arranged for the PPI at a very reputable shop. When my friend went to see the car he was given a copy of the PPI and told to call the shop and speak with them. Worked quite well.

HarryD · 12-15-2004, 03:59 PM

Quote:

Originally posted by kbruz
If you really want to sell the car then I suggest that you do the PPI yourself and have the shop that does be available to answer any questions about the car.

My friend purchased his car in this manner. The seller arranged for the PPI at a very reputable shop. When my friend went to see the car he was given a copy of the PPI and told to call the shop and speak with them. Worked quite well.

Personally, this would be unacceptable to me. While the shop may (or may not) be reputable, as the purchaser, I want the mechanic performing the PPI to be working for me, not the seller. This removes a conflict of interest and is more likely to ensure that I will have a frank conversation with the mechanic. After the PPI, I can choose to share the results or not with t he seller and use it as a bargaining tool to get what I believe is a fair price.

anthony · 12-15-2004, 04:37 PM

I spent two hours with my mechanic going over my car during the PPI. I learned tons in that two hours. There's no way a mechanic is going to sit down and write all that out or be able to convey it to the buyer over the phone in a few minutes.

Getting the PPI done ahead of time might be a good selling tool though especially if you are selling the car on ebay.