50% down before PPI
 

I just came back from seeing a car. The seller (who already has a $500 deposit from me) says he'll only take the car to PPI if I wire 50% of the sale price to his attorney first.

Then "if the car doesn't pass PPI" (and it could be debated what that means) he would give me my money back. Has anyone come across this 50% down request before? It sounds like BS to me. What's he trying to achieve with that?

He already has your deposito, it doesn't make sense .

Yep, but it was in Vegas at the Bunny ranch.

Huh?

Sounds like too much hassle for a car. I'd seriously have to need the car to make that deal.

I just read an ad for what seems an awesome car. Last comment,"test drive only after you agree to but my car." what? Aside from that not being enforcible I won't buy a car I can't drive.

No way in hell I would do that....

Unless the car is a complete steal - run don't walk it's an outrageous demand.

Phil

I don't think so...

Ask for you deposit back and if he says no, consider yourself lucky for only loosing $500.

PPI can ID thousand's of needed work and what would you do if that was the case.

Of course If I was to loose my deposit, I would give him a lot of publicity for that money...

Yeah, no.

When some a$$clown is already getting attorneys involved, run - don't walk - away.

Car is not worth it. Not in this life.

What kind of car is it?

Who has an attorney involved in any car transaction that isn't in the mid 6-figures?

Rick,
I was going to ask how it went....now I know. I've heard of guys agreeing to a price before a PPI, but this is just crazy.

Mid 5 figures

He was talking about his adventure with prostitutes. With his online persona, I have no doubt the only way he gets any action is to pay for it.

Ah ok! I have nothing against that.

Politely ask for your $500, and thank him for his time. Be glad that you didn't do business with him on this car.

I disagree. Attorney trust account is safe funds, and a legit lawyer isn't going to risk not returning your deposit.

Seller probably sick of flippers and tire kickers. Lawyers hold deposits for RE transactions all the time. I'd rather have a lawyer holding $25,000 than a seller I don't know holding $500.

Just make sure you have in writing/emails that funds are immediately refundable if transaction does not complete or you do not like any result of PPI. And use a shop you find, not the seller's shop or recommendation.

In real estate deals both parties have their attorney, you gotta read the tems carefully what constitutes default etc. Seems way out of proportion to me for a car at that price point. Even so, why 50%? Last house I bought I deposited 15% I think. And you would think a cash deposit, 6hrs round trip to see thr car and paying $350 for PPI would be enough evidence as to one not being a tire kicker I think.

The level of distrust shown by the seller would nix the deal for me.

I find people who are mistrustful think everyone is like them...

6 hours? oops missed that you have already looked at it

Exactly this. Someone so worried about getting screwed has screwed people.