sale of truck gone bad

Last Feb. I thought I had my truck sold. I let the guy take it with a down payment and signing a promise note that outlined the remainder payments over three weeks and the consequence to not following though. He made the first payment, Didn't register the truck. I had my plates and insurance still on it. I got after him. a month and a half later, I got the truck back. Told him he had another month to come up with the remainder of the purchase or the whole deal was off. I've texted him several times. He hasn't responded. I re-titled the truck. So it looks like I still have my truck. It needs a couple repairs that I either need to make or sell again as is. Truck runs fine. It has a rust issue on the core frame and a leak somewhere in gas line/tank?
It is a 1999 f150 with a cap. 114,000 miles. Not sure what I will do now.

 

Dam. 4x4?

 

At least you got the truck back. That's the main thing.

 

oh yes, I just don't use it much because it is hard for me to get in and out of. Plus the wife has the same issue.

 

If the buyer can't get a bank to give him a loan, no way I would. Glad you got it back.

 

you are right. I know this guy. He was one of the crew I hired to do the rebuilding of my house. Nice guy but can't seem to hang onto anything. I think he failed to come up with the money because he was too busy with his new lady friend and catching up with child support.

 

No good deed goes unpunished...

Sorry to hear about the hassle, Save! That stinks!!

 

That sucks...Sorry but at least you got it back!

Wife and I carried a note for a buyer on a Bar w/apartments upstairs that we sold. End result was the same as yours, he made a couple more payments than your guy, but nowhere near the couple hundred grand he agreed to. Lesson learned, now the Mill Tavern on 28th Street in Lorain is gone!

 

Larry, that truck is calling my name.....

How about I pay you a dollar for every "like" I make on FHC?

I'd have it paid off in a couple weeks.


Only half joking. I needs me a truck, and yours is perfect for me. If you lived closer...

 

Reminds me of a fella that come over to buy a snowmo. Tried it out and said he wanted it for this weekend to go on a ride.

I'll pay you next week and take it today.
No, if you take it today, you'll pay me today.
I'll give you (whatever pittance amount it was) and the rest next payday. (He worked as a corrections officer for the state, good $)
OK, it'll be here for you when you come back with the rest of the amount.
I need it for my wife to ride this weekend.
Then take $ from your savings and repay that with your check next payday.
I don't like taking $ out of my savings.
I don't like selling stuff without getting paid for it.

I don't know what people think sometimes!

 

Some years back I had the same thing happen to me, almost word for word, only it was a guy I formerly worked with. Lesson learned...no pay, no play.

 

Perfect you stood your ground and did the right thing. As we get older and wiser, we tend to taken less, because we have seen and heard it all before.

 

I've heard the same story every time I sell a truck or motorcycle. Then they get upset when I don't give them my stuff with just a down payment. I always tell them if I still have it in the week when they get that "next paycheck" they can buy it then, but I've never heard back from a single person.

 

That tells you everything you need to know.

 

Sounds like you may have won out on this deal really. Did you have to refund what he already paid? I know that if I was to write the contract he would have had to sign off on losing all money paid if he was to default on payments.

 

Cash or bank check only. Just sold my truck, guy came Saturday afternoon so his first bank was closed but he could write me a check. Seemed like a great fella and maybe it would have been OK, but I said no personal checks -he made it to his other bank and I got the cash.

Cry me a river but pay me in cash

 

Speaking of cash, I think it's about time the Fed makes a $500 bill again!! I sold a dirt bike for close to $4k last fall and the stack of $100's seemed a little crazy. If you're selling or buying a late model vehicle I'd hate to carry that stack of cash around, and worry if you counted it accurately!

 

I haven't, but I haven't heard from him even though I did text him. He paid $460 and had the truck for a month and a half. I wrote the contract to be in three payments and the return of the truck should he default.

 

Wow a 4WD truck thar runs for under 1500 Iam struggling to find a yard truck (not road worthy or wont pass safety inspection) for that price