View Single Post
  #3 (permalink)  
Old 01-13-2015, 06:12 AM
Tommy's Avatar
Tommy Tommy is offline
CC Member
Visit my Photo Gallery

 
Join Date: Feb 2002
Location: Dadeville, AL
Cobra Make, Engine: Sold my EM.
Posts: 2,439
Not Ranked     
Default

From a sellers standpoint, a deposit to hold doesn't mean much unless I get to keep it if you don't buy the car. From a buyer's standpoint, it doesn't mean much unless it guarantees I will be able to buy the car for a known price if it passes inspection. A purchase option contract with a non-refundable deposit can accomplish both. But I doubt it is used often in the purchase of normally priced automobiles. .... After all, how much would you (the buyer) be willing to lose just for the option of seeing a car before you buy it? .... And if the option money is small (e.g., $100), how much would you be willing to spend to retrieve your deposit from an unscrupulous out of state seller?
__________________
Tommy
Cheetah tribute completed 2021 (TommysCars.Weebly.com)
Previously owned EM Cobra
"Never attribute to malice that which is adequately explained by stupidity." - Hanlon's Razor
Reply With Quote