Jump to content
Due to a large amount of spamers, accounts will now have to be approved by the Admins so please be patient. ×
IGNORED

Buying a used car from a private seller: Deposit question


Recommended Posts

Hey Guys

 

As I mentioned in another car thread, I need a bigger car for a my growing family. Twins due in a few months!

 

Anyway, have bitten the bullet and decided to buy a Toyota Tarago. I did want a Kluger but many people with 4 children or more say a people mover is the way to go and a SUV/4WD will be regretted.

 

I did want to get a Toyota Certified Used Vehicle but there aren't a huge number of Tarago's to pick from and the one the ticked all the boxes was from a private seller just a few minutes from us. I am going to get an RACQ inspection, but need to put down a deposit. I haven't bought a used car since 2003 and that was from a dealer! Last time I bought from a private seller was 1990 and I don't even recall how that went down!

 

So is the best way to put down $500 cash with a receipt stating subject to inspection satisfactory to buyer. He did suggest funds transfer but I am not sure on that?? Can anyone who knows more about this advice please? It would be easier to do a funds transfer but not sure how safe that is in regards to a receipt?

 

Thanks,

 

Lefty

 

P.S. - I reckon a Tarago could easily fit a pin or arcade in it! :D

Link to comment
Share on other sites

I'm actually looking at buying a second hand ute at the moment. It will also likely be from a private seller.

 

My plan is to organise an inspection, see how that goes, then talk price, buy, then leave a deposit if I'm happy with everything before hand.

 

Regards,

 

Johns-Arcade.

Link to comment
Share on other sites

I'm actually looking at buying a second hand ute at the moment. It will also likely be from a private seller.

 

My plan is to organise an inspection, see how that goes, then talk price, buy, then leave a deposit if I'm happy with everything before hand.

 

Regards,

 

Johns-Arcade.

 

Pretty much my game plan. Except after talking price we said we will go home and think about it and let him know tomorrow. My dad always taught me to never buy on impulse and always have a 24 hour think about it! As we looked at it last night we have agreed to buy, now just need to make a deposit. It's a pain having to deal with cash and run and around at night with kids to look after and dinner to organize! Much simplier to do a direct deposit but obviously if it isn't a safe practice I will do the running around!

 

I thought in this day and age maybe direct deposit is more common? Just not sure on the receipt part? I want something to say ' a receipt stating subject to inspection satisfactory to buyer'. Not sure if you can just include that in the deposit details?

Link to comment
Share on other sites

Pretty much my game plan. Except after talking price we said we will go home and think about it and let him know tomorrow. My dad always taught me to never buy on impulse and always have a 24 hour think about it! As we looked at it last night we have agreed to buy, now just need to make a deposit. It's a pain having to deal with cash and run and around at night with kids to look after and dinner to organize! Much simplier to do a direct deposit but obviously if it isn't a safe practice I will do the running around!

 

I thought in this day and age maybe direct deposit is more common? Just not sure on the receipt part? I want something to say ' a receipt stating subject to inspection satisfactory to buyer'. Not sure if you can just include that in the deposit details?

 

That's why I want the inspection done before any cash changes hands. You're basically agreeing to buy it without conditions once you have the report. It also means I can either walk away, or re-negotiate the price based on the inspection report, and not have to try and get any money back.

 

Regards,

 

Johns-Arcade.

Link to comment
Share on other sites

Dunno what the laws are in Qld but I'd be more worried about checking ownership and finance status of the vehicle before wasting time and money on inspections and deposits.

 

This is from Vic consumer affairs. You might want to check Qld's version: https://www.consumer.vic.gov.au/motor-cars/buying-a-used-car/before-you-buy-a-used-car/vehicle-status-check

 

2 anecdotes: 20+ years ago, my mate bought his dream car without doing a finance check first and the car got repossessed 2 weeks later. The previous owner used the money to buy 'other stuff' instead of paying off the vehicle finance. At around the same time when I bought my car, I did a finance check first and there was $15,000 owing on the car. I had to make out 2 bank cheques, 1 for $15,000 to the finance company and 1 to the seller for the balance. This ensured the car got paid off and wouldn't get repossessed.

Link to comment
Share on other sites

Dunno what the laws are in Qld but I'd be more worried about checking ownership and finance status of the vehicle before wasting time and money on inspections and deposits.

 

This is from Vic consumer affairs. You might want to check Qld's version: https://www.consumer.vic.gov.au/motor-cars/buying-a-used-car/before-you-buy-a-used-car/vehicle-status-check

 

2 anecdotes: 20+ years ago, my mate bought his dream car without doing a finance check first and the car got repossessed 2 weeks later. The previous owner used the money to buy 'other stuff' instead of paying off the vehicle finance. At around the same time when I bought my car, I did a finance check first and there was $15,000 owing on the car. I had to make out 2 bank cheques, 1 for $15,000 to the finance company and 1 to the seller for the balance. This ensured the car got paid off and wouldn't get repossessed.

 

I am planning on getting the RACQs Master Check - A comprehensive inspection of a used vehicle that tests most components and includes a car history check. A car History Check will reveal if the vehicle has money owing, is leased, has been stolen, written-off, has had reported insurance claims and any odometer rollback reported.

 

That's $275 but sounds like it is worth after hearing what happened to you.

Link to comment
Share on other sites

I am planning on getting the RACQs Master Check - A comprehensive inspection of a used vehicle that tests most components and includes a car history check. A car History Check will reveal if the vehicle has money owing, is leased, has been stolen, written-off, has had reported insurance claims and any odometer rollback reported.

 

That's $275 but sounds like it is worth after hearing what happened to you.

 

Yep, the master check covers the lot.

 

Regards,

 

Johns-Arcade.

Link to comment
Share on other sites

I was listening the radio a few weeks ago..... Young woman's dad bought her a used car private deal. She went to a party not long after and when she pulled up and parked the neighbour came out and said 'hey, that's my car, it was stolen from here a few months ago. Her dad had bought it about 150kms away at Cobram caravan park....... Buyer beware
Link to comment
Share on other sites

A guy at work was restoring a mini for about 10 years. Never got it finished but sold it to another guy. New owner finished it and went to get it registered but found out it had been stolen a long time ago. I don't know how it all finished up but just goes to show you need to be careful.
Link to comment
Share on other sites

I buy and sell cars quite often, I always tell the seller I will buy once I'm satisfied there is no money owing, or no major issues with the car.

 

When I sell I let the buyer do whatever they want, I tell them if there is anything they need to know, no use beating around the bush, they can find out most things with a simple check.

 

If he has nothing to hide, he should let you get a inspection without a deposit, as there will be no need for you to back out if every thing is ok.

 

Currently selling a 2014 Mercedes C180 coupe and a 2014 Renault Koleos Bose edition if any one is interested :D

Link to comment
Share on other sites

$3.40 Gov revs check first, then get your mechanic to inspect it. RACQ come up with the most trivial things to justify their price.

 

Check rego status and get VIN using rego number..

https://www.service.transport.qld.gov.au/checkrego/application/VehicleSearch.xhtml?windowId=08b

 

Thinking the same thing. I recall last time I bought a used car the RACQ report had stuff like 'scuff mark on inside door', 'carpet worn near footrest'...

 

I had a look at the REVS site, it says $36.95? Is the $3.40 a different one or a typo?

 

I might call my mechanic this arvo and see if he can do it cheaper.

Link to comment
Share on other sites

Well, Im ready to get hammered about this one.

 

but import a van from Japan and save a damn fortune and you can get some awesome vans like elgrand and Alpahrd.

 

I will say it isnt as easy as buying a car from a dealer, but there is always a price to pay for saving serious money.

 

My advice would however be to use a trusted agent to buy it at auction in japan and import it for you. He will do all the work and you pay the bills. I cant speak for any of the dealers who sell imports in AU though. Ive heard some shocking stories and I recon its a large part of the reason imports have a bad rap. That and people like me buy them.

 

let the hammering commence !

Link to comment
Share on other sites

I did consider the same, so not going to hammer! As I am getting the Tarago I did see quite a few Estimas on offer(Same car, different name for those who don't know). But the local ones didn't seem any cheaper than the Australian delivered ones so I didn't bother with them.

 

Fair enough, I did find importing myself (with an agent). was cheaper than already imported cars. Are the Elgrands and Alphards out of budget ? many of them are full Luxury packs.

Link to comment
Share on other sites

Fair enough, I did find importing myself (with an agent). was cheaper than already imported cars. Are the Elgrands and Alphards out of budget ? many of them are full Luxury packs.

 

Alfarts and Elgrunts are made mainly for markets like Hong Kong and are specced up very well.

 

Getting it into AU is a whole different matter and I wouldn't do it to myself but your tolerance level for paperwork bullshit might exceed mine.

 

EDIT:

 

Most of the radios and GPS stuff won't work in Aust with these vehicles and it is a VERY expensive fix IF you can fix it at all.

Link to comment
Share on other sites

Alfarts and Elgrunts are made mainly for markets like Hong Kong and are specced up very well.

 

Getting it into AU is a whole different matter and I wouldn't do it to myself but your tolerance level for paperwork bullshit might exceed mine.

 

EDIT:

 

Most of the radios and GPS stuff won't work in Aust with these vehicles and it is a VERY expensive fix IF you can fix it at all.

 

 

Yep, i agree. My tolerance for paperwork is zero. Thats one of the main reasons I use an Agent, never touched a single bit of paperwork for the 4 cars Ive done. they do it all, i pay the bills.

 

Radios are easily converted with a $30 band converter. you are 100% correct with the GPS though, nothing much you can do with that.

Link to comment
Share on other sites

 

I had a look at the REVS site, it says $36.95? Is the $3.40 a different one or a typo?

 

.

the official gov site isnt called REVS anymore. someone else has taken the revs name and charging extra for a report that is pretty much the same as the gov report for $3.40. There was a piece about it on "the checkout" on the ABC some months ago. its not a scam, just being overcharged. the gov site is the ppsr site listed elsewhere in the thread. Bloody government dept.s REVS was something that everyone for the past 20 yrs new.Someone would have got their KPI bonus for coming up with Personal Property Security Register.:rolleyes

Link to comment
Share on other sites

the official gov site isnt called REVS anymore. someone else has taken the revs name and charging extra for a report that is pretty much the same as the gov report for $3.40. There was a piece about it on "the checkout" on the ABC some months ago. its not a scam, just being overcharged. the gov site is the ppsr site listed elsewhere in the thread. Bloody government dept.s REVS was something that everyone for the past 20 yrs new.Someone would have got their KPI bonus for coming up with Personal Property Security Register.:rolleyes

 

So you can still use the $3.40 gov report site?

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...