how much of a deposit?

S

sj_mad

Well-Known Member
Joined
29 October 2007
Messages
173
Visit site
Hi I might have sold my 3.5tonne wagon to a friend (not close friend just compete at same places, go for ocassional meals etc) Its up for sale at 14k but may possibly reduce this as id like a quick sale, she wont be able to pay me for a few weeks but I said id need a deposit, how much shall I ask for? also would you let her take it as soon as she gives me the deposit? its tax is out at the end of march and I dont really want to fork out for it
 
You'd have to be very trusting or very stupid to let her take a 14k lorry without payment in full. Just SORN it. Deposit wise, i'd ask for £500
 
TBH no money = no lorry.

A lot can change in a few weeks and if she changes her mind or can't get the funds you've lost time in selling to someone else.Deposit or not I'd want quicker completion of the deal.
 
No way would I let anyone have the vehicle until funds had cleared in full and all the documentation had been completed. I would ask for 10% deposit but only allow a week for the full balance to be paid.
 
Nope, no money, no lorry.
She may be the nicest person ever, but if the lorry breaks down/ she has an accident/ she has other unexpected demands on her finances....you may get let down.
Business and friendship should never mix.
 
Thanks for the replies, i never thought about sorning it also never thought if something were to happen while she had it but hadnt paid for it :/
So shall I ask for a £500 deposit ? does everyone think that is reasonable?
 
I agree with the others about not giving the lorry before you have the money but if you do I would ask for a 20% deposit.
 
If she REALLY wants it, she shouldn't question you asking for a large deposit, especially as she is asking you to take off sale for a few weeks!
Sorn it, take 20% deposit (min 10%), give her a receipt saying deposit received, you agree to remove from sale ads, and she must pay you the full balance by XX date, otherwise she looses the deposit and it goes back up for sale. SIMPLES!
 
You must log in or register to reply here.
Top