What ever happened to a hand shake and a person’s word of honor?

[tommygfunk]

Over the last several years I have purchased my 72 combo, 56 meteor, and my 84 S&S on just that. A hand shake and a few payments. Now don’t get me wrong we used receipts and covered the legal end, but it was all on payments. I bought my 72 combo off lance back when grim rides had a yahoo chat room. I never met him before and we struck a deal on phantasm from half a state away. I made payments on these cars and they sat at the sellers until I paid them off and then I took them home. I just bought the ambelwagon this way. I have looked for a combo over the last few years, but either they were in real bad shape or out of my price range unless I could make a few payments. I had a deal going on a 66 combo, but it burned in a garage fire so that killed that.
I understand the need it now kind of sale, but a few years back I made an offer to a guy to buy his 73 combo foe three payments of $500 and even pay to store it near his house until it was paid in full, but he thought it was worth more and it was finally impounded by the cops and scraped. He not only lost the cash but ended up with $1200 in fines.
I’m not looking to start a big bitch fest, and yes I have been burned before, but the right preparation and documentation and it is not as painful as one would think.
I have had a few offers to trade the ambelwagon, but that is a car that is a part of this valleys heritage and I just don’t think I could let it go. If you look you will find postings on here and other forums about all I have found out on her, but that is another story.

TGF

[Guest]

wouldn't it just be easier to save up your money and pay for it at once? i mean, that way everyone's happy. he's got the money, he doesn't have to worry about you backing out. you have the car, you don't have to worry about him selling it to someone else, or getting it burned up in a fire.

[hotroddwayne]

I usually stay away from "payment plan" deals like that too because of bad deals in the past. The buyer usually wants to make payments but take the car immediately & it don't work that way. However i'd have no problem dealing with someone like you who understands the buyer doesn't get the car until it's paid for. YES always get everything in writing! Here's why:
1. A deposit was placed on my 1964 Impala & in writing it stated he had 1 month to pay the balance or his deposit was forefitted. The deposit is assurance & good faith you WILL buy the car & it is OFF the market to other buyers. I could have sold the car 6 more times over the next month... and then was sued because the man demanded his deposit back because he couldn't come up with the money for the car after a month of waiting. Took my reciept that stated "DEPOSIT IS NON-REFUNDABLE" to court & won.
2. Made a deal in July 2008 to buy a 1969 Impala Brookwood wagon. Paid the man a deposit & got a receipt. Went to the bank & was on my way THE NEXT DAY to pay the balance & during my 2 hour trip to finish the deal he calls me & says "Don't bother coming, I was offered more money so I sold it to someone else"! Needless to say words were exchanged & tempers flaired. The guy saw nothing wrong with selling the wagon out from under me. I ended up with the car (later traded it for my '51 Cadillac hearse) after showing the guy the receipt & terms of sale... and that I wouldn't go away quietly.

When making ANY deal... stick to your word! YOUR WORD is your honor. Don't screw someone over just because someone else offered more cash. Whether you're buying or selling, just stick to your word. Hope I didn't drift off-subject here but the above posts both make good points & I wanted to remind everyone that no matter HOW you deal for a car or parts, uphold your end of the bargain because people DON'T forget. The next time you go to make a deal, it might not go so well if word has traveled you do people dirty. The best way to deal is to save up, but sometimes you find that car you CAN'T live without... so it don't hurt to ask about a payment plan if there's no other way to get it.

Hell... 8 years ago I had 3 old 1947 Studebaker trucks I was parting out... sold a bunch of parts to a man in Illinois. These trucks are rare as hen's teeth, so he was thrilled to find parts at VERY affordable prices. Mailed him the parts & to this day he's never paid me a dime... so every time I attend an out-of-state car show there's a BIG screwdriver with me to retrieve my stolen parts & I don't care if Kevin's truck is 100% DONE (even remember your full name Kevin). Like I said... people don't forget...

[tommygfunk]

Wayne & Ryan

As stated in both posts I see the points and do understand. I believe that a person’s word is truly a doorway to their soul. A hand shake is the binding of honor, but paper work and documentation stands up in court. When a man bought phantasm [I still regret the sale, but in desperate times [he made four payments and drove him home. On the way across Ohio the coach popped an alternator. He called me just to say that the alternator died. Not to haggle or complain. I asked him where he was and told him I would call him back. He was near an expert tire I think it was. I told him to limp it there and have the shop boss call me. I was told that it was not the alternator, but the battery fried across the terminals. A common mistake. I had them put a new battery in phantasm and bill it to me. This is only because he was honest and made the payments on time every month. Honor and brotherhood.

TGF

[hotroddwayne]

Well said Tommy. It's great to hear respect, honor, & personal pride still exists! I too value a handshake and a person's word. Unfortunately nowdays we need all the legal crap along with an agreed deal & a firm handshake. Very nice of you to pay for that guy's new battery, something you didn't have to do but it all goes back to what we're talking about. I'm sure the new owner of Phantasm still tells people of your nice jesture!
A couple years ago a stranded motorist was passing through my town in a 1972 two wheel drive Blazer, he'd melted a front wheel bearing to the spindle. Everyhing was fused together & ruined. Auto Zone didn't have one & couldn't get one for days, but they knew I had 2 old Chevy trucks I used for parts. This guy showed up @ my house & was so desperate... I felt awful for him. We went out back & popped the ball joints & did a parking lot install of my used spindle. A couple weeks later this box shows up in the mail from Michigan... it was the spindle & a $50 check. I mailed the check back with a note saying I wouldn't take his money under any circumstance!
Us car guys have to stick together & treat eachother the way we want to be treated... a motto to live by. Very nice post Tommy. -Dwayne

[jlprigmore]

I'm all about car guys helping each other out, just wish mechanics(which you would figure would be car guys) would follow that motto!