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airehead
Oompa Loofah
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Joined: 12 Nov 2002
Posts: 18788
Location: Between here and eternity...
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 Posted: 05/07/03 - 10:37 Post subject: Selling a car to a friend, advice??
Here's the scenario:
1992 Nissan Sentra, 87k miles, excellent condition, new paint job, no rust, new CD player, has just had a brake job done.
A really dear friend wants to buy it. We have told him everything that we know of that could possibly be wrong with the car (needs new struts for sure)
We're loaning it to him for several days so he can get a feel for it.
I fully intend to sell it to him WAY below blue book, but do you guys have any more advice??
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keltic63
the kilted one
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Joined: 17 May 2002
Posts: 8574
Location: under the weather
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Posted: 05/07/03 - 10:42 Post subject:
don't do it!
beyond that, if you've told them everything you know about the car, then the friend has to realize that cars develop problems that can't be predicted.
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elkid
Member
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Joined: 18 Nov 2002
Posts: 8353
Location: hiding out in Philly
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Posted: 05/07/03 - 10:44 Post subject:
1) write down everything wrong with the car
2) write down blue book, write down actual "steal" price
3) have friend review and sign it
4) you sign it to acknowledge friend's signature and agreement that you are a great friend for giving him such a deal
That way if something does go wrong your friend cannot blame you.
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purple hayes
Frightened Inmate #2
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Joined: 14 May 2002
Posts: 14462
Location: ON YOUR LEFT!
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Posted: 05/07/03 - 10:44 Post subject:
| keltic63 wrote: | | don't do it! |
 Unless you're using the term friend loosely and you are moving all the way to the other coast soon right? 
That being said, I bought a truck from a friend and I've been super happy with it and what I paid for it. Of course, I helped him rebuild the bottom half of the motor so I knew it was in good shape when I bought it.
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airehead
Oompa Loofah
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Joined: 12 Nov 2002
Posts: 18788
Location: Between here and eternity...
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Posted: 05/07/03 - 10:56 Post subject:
| purple hayes wrote: | | keltic63 wrote: | | don't do it! |
Unless you're using the term friend loosely and you are moving all the way to the other coast soon right?
That being said, I bought a truck from a friend and I've been super happy with it and what I paid for it. Of course, I helped him rebuild the bottom half of the motor so I knew it was in good shape when I bought it. |
No, he really is a good friend and works with Mr. Aire. But we are moving to the other coast... 
We have insisted he take it to his mechanic, too. (He has one "on retainer" as he has three sons who drive and all have very bad luck with cars)
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thegman
Member
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Joined: 23 Sep 2002
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Location: 12 yards out.
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Posted: 05/07/03 - 11:05 Post subject: Re: Selling a car to a friend, advice??
| airehead wrote: | Here's the scenario:
1992 Nissan Sentra, 87k miles, excellent condition, new paint job, no rust, new CD player, has just had a brake job done.
A really dear friend wants to buy it. We have told him everything that we know of that could possibly be wrong with the car (needs new struts for sure)
We're loaning it to him for several days so he can get a feel for it.
I fully intend to sell it to him WAY below blue book, but do you guys have any more advice?? |
Practically speaking, I wouldn't do it. If anything goes wrong with the car, you stand a good chance of losing a friend.
But if you're going to go forward with it, make sure you do a bill of sale that notes the car is sold "As Is".
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runswithscissors
Member
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Joined: 15 May 2002
Posts: 8797
Location: In a badger state of mind
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Posted: 05/07/03 - 11:17 Post subject:
If you've truly been honest about it's past problems and something other than that does go wrong with it, he should realize it was not your fault. True friends would not ruin what they have over that. I don't see any problem with selling it to him.
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Cappy
Excelent
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Joined: 16 May 2002
Posts: 27368
Location: Spreadsheetylvania
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Posted: 05/07/03 - 12:20 Post subject:
| runswithscissors wrote: | | If you've truly been honest about it's past problems and something other than that does go wrong with it, he should realize it was not your fault. True friends would not ruin what they have over that. I don't see any problem with selling it to him. |
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jrjo
Gone Fishin
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Joined: 15 May 2002
Posts: 16451
Location: Lake Wobegon, MN
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Posted: 05/07/03 - 13:54 Post subject:
| Cappy wrote: | | runswithscissors wrote: | | If you've truly been honest about it's past problems and something other than that does go wrong with it, he should realize it was not your fault. True friends would not ruin what they have over that. I don't see any problem with selling it to him. |
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I think most people, myself included, count on putting money into an older used car shortly after buying it. If this guy doesn't expect to, he should buy something new.
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