It's a seller's market.. Cash in hand in person if you are serious.. PPI while a really good idea can tank a deal in this market. As a buyer and seller I can tell you, cash (and a generic bill of sale in hand as a buyer) binds..

The current market for these cars has gone nuts....Interesting to see if it lasts..I recently sold an 86 3.2 coupe, by the time I barely finished putting ad on craigslist I had two calls. While one buyer was hemming and hawing about a mild oil leak and PPI, another better educated enthusiasts bought without PPI. There are just so few reasonably priced cars in this present market. I see some over zealous sellers asking 10-20 k more than cars worth, hoping for the "Hail Mary". I will keep an eye out for you. Good luck, Tim

I bought my 97 C4S in March of this year from a local private seller. It was exactly what I wanted and a great price. I needed to act fast to make sure another buyer didn't swoop in. The seller said he didn't need a deposit, but I insisted on a written contract and a deposit to hold the car until we could complete the sale. (Seller was travelling for work for a few weeks). It was great to be able to see and drive the car and the seller had it recently serviced (no expense spared) to bring it up to excellent mechanical condition. I had a long recent service receipt and got to know the seller very well. I spoke to the shop who did major work to the car over the years. I did not feel the need to do a PPI and the gamble paid off.

Just like a heated housing market, buyers have to act fast, make a strong offer, and have few conditions to complete. A buyer that comes along with a stronger offer and needs no inspection will take the car on most days.

Local buyers have a big advantage in this market. I don't think I could buy a car with no PPI and without seeing either. Make an offer pending PPI, once you agree on a price then you send a deposit to hold the car. Hopefully they actually hold the car. Then proceed with the PPI and discuss price again.

There have been cases posted recently where the seller sold the car to another buyer who offered more and no PPI. Unfortunately you will lose out and the other buyer was willing to take the risk.

US servicemember in Germany here, and the local advantage thing seems absolutely true. I've contacted people with cars for sale throughout the US from here asking, not even for a PPI, but just to have a buddy take a look and see if there are any super glaring issues and most won't even entertain the idea. I don't necessarily blame them when they'll have cash in hand in a matter of days.

Unfortunately, I'm starting to think I missed out on buying an aircooled car, which sucks cuz I want to own and DRIVE one, not collect and/or speculate on one.

Just watch the forums, and remember if a member burns you let the rest of us know...eventually you will find what you want, I checked every day with my morning coffee and then again at lunch...And it eventually fell into my lap. Trustworthy local shop with forum presence 30 minutes from work.

A deal ain't a deal until you have a title in your hand and the keys in your pocket. Up until that time, the guy with the most money in the shortest time wins. If I were selling my car (and I'm not), I would honor the people in the order that they came to me, but I would tell them straight up that if they want a PPI, it's going to be tough and cost them extra money. Why? Because the nearest shop that could do a good one is over 100 miles away. And I would ask for a substantial deposit, with some of it non-refundable. You want the car? You want me to turn away folks that have cash-in-hand? Show me how serious you are first. Especially if you want me to do any leg work.

IMO, the dealer in this situation should just be completely forthcoming and tell everyone that they will not hold the car for anyone and the first person to complete a transaction at their premises gets the car.

If it was a different market or vehicle, (something not as white-hot), they may do things differently but that's how it is.

I've actually been on the other side of this with a very ethical private seller holding their car on a promise to someone else and would not sell it to whomever showed up with cash first. Usually it's cash talks only.

Good intuition from years of livin'

Thanks to Neun 11 for starting this thread. I made a deal on a car Friday (remote dealer) and got bank approved yesterday and literally forced the F&I manager to take a deposit. He kept saying 'no; not necessary; we'll do it all Monday.'

But the truth is that money received = proof of intent. It creates an obligation.

1. contracts are binding with consideration. you had none.
2. you didn't have a bill of sale with pending wire.
3. your offer was contingent on PPI which made your offer a conditional offer.
4. you made an offer to someone who didn't own the car, just an agent or sales guy.
5. you waited way too long. most would think you were tire-kicking if you don't pull the trigger within reasonable amount of time (a week or two at most). most serious buyers don't hesitate on any step of the way, from calling, confirmation of options, maintenance, and condition, then pushing to close the sale.
6. you were sitting on a deal, a car that's at least $4,500 under market value. so someone swooped in. happens all the time with homes in hot markets.

Rayng, I didn't wait too long--it took the dealer that long to sort out some issues before he was ready to sell, including a new ECM. But, yep, I did make all those other mistakes. Live and learn. At least maybe it helped techweenie, who has helped so many others in so many ways.

It did help! In my own transactions I can sometimes be too easy-going.

In my case, this was the car in question. :-)

http://forums.pelicanparts.com/uploa...1413820557.jpg

That'll get you in trouble! I've never seen a cop who couldn't spot a yellow turbocharged car.

I wonder if the personalized plate "AREST ME" is taken already?

LOL, nice.

R3V0 3V0M

:)

The car business is cut throat but that doesn't make it right. Bottom line guy with cash wins. If you move slow sometimes you loose.

You also have to put yourself in a seller's shoes, lots of tire-kickers have ruined the car sales business. I've sold a few cars this past year and have wasted entire Saturdays, several times accepted offers, held the car, turned away other interested parties, only to never hear from the would-be buyer again. Lots of "I'll take its" and promises with no follow through. It can burn you out quick.