Low Ball Buying

[JandC]

Had my F350 detailed last week and then put it on Craig's List Monday. I did some research prior to pricing it. Ran it through NADA, Kelly Blue Book, plus did a search of what other same equipped 2012 F350's were being listed for. I even talked to a buddy who owns his own dealership for pricing advise.

When all the information was considered the value was between $36,000 and $38,000. So I priced it at $36,500.

Third caller came to look at it. He test drove it and asked all the right questions. At the end of the test drive he pulled out en envelope full of cash and said "I will give you $30,000 cash". I said I didn't think I could go that low and he said he couldn't go any higher and left.

Yesterday he sent me a text and wanted to arrange a time to come look again. We couldn't work anything out until next Monday. He again said he had cash and would just bring by a small deposit until we could complete the deal Monday. Told him that wouldn't be necessary that he should just come by Monday with $34,000 (I decided to drop it to my rock bottom price). He text back and said he could not go over $30,000.

I answered by telling him that I didn't want to waste anymore of his time and that he should continue his search for a truck elsewhere because I would never sell mine for $30,000 (at least not until around 2018 or so).

I have been known to offer someone less for something. I don't think I have ever offered 20% or 25% less than the actual value and then not even negotiated from there. I told him I had a clear title in my possession with no liens on it, so he can't think that I "have" to sell my truck.

Maybe this has worked for him in the past.

[Tfthorp]

You should know that it is a scam.

[kdeiss]

A lot of scammers that lerk on Craigs List.I have had beter luck and success on Auto Trader. GOOD luck!

[jimcol]

Not all low baller's are scammers. Lots of people negotiate that way and occasionally find a taker. JandC, you did right. You knew your bottom dollar and stuck to it. Maybe the buyer knew his top dollar and that was all he can do. Don't be offended, you need thick skin to operate on CraigsList but I have found it a great place to buy and sell. Jim

[sambam]

Off topic I know, but why are you selling your truck?

[cdaniels]

We had just about the same experience when we sold our house ourselves. Gave us a low ball, denied it, then they wanted to meet and talk to us. In the mean time someone came along and bought it full price. The people where sick. U snoose u loose. Stand firm, at least for a while!

[mlh]

When I sell something what ever I set the price at that IS the price. If you won't to pay more fine but I will NOT take one cent less. Don't waist my time offering less.
Lynwood

[Doberman]

I know you must have an honest face but the potential buyer is some kind of STUPID. Who in their right mind would flash $30,000 cash in front of someone they don't know??????

[JandC]

quote:Originally posted by sambam

Off topic I know, but why are you selling your truck?

We will be busy with the Florida house for up to 2 years and won't be towing. I didn't want to leave a 2012 diesel in storage for 6 or 7 months at a time watching it depreciate. With the 3725RL we were approaching DRW range anyway, so when we start towing again I will shop for a gently used dually.

I doubt the buyer was running a scam. He probably thought by flashing a large wad of cash I would take the low offer.

Will probably leave it on Craig's List for another couple weeks and then try AutoTrader with a paid ad.

[DQDick]

quote:Originally posted by Doberman

I know you must have an honest face but the potential buyer is some kind of STUPID. Who in their right mind would flash $30,000 cash in front of someone they don't know??????

In this day and age you are exactly right. He must be watching too much Counting Cars and Pawn Stars on TV and forgetting that when they flash the cash a whole camera crew is right there with them.

[PackerFan]

Good job sticking to your guns Joe! I know it can be tempting when you see a pile of cash but you have to stay the course. That is a very nice truck you have and the right buyer will be along soon enough.

[JandC]

quote:Originally posted by PackerFan

Good job sticking to your guns Joe! I know it can be tempting when you see a pile of cash but you have to stay the course. That is a very nice truck you have and the right buyer will be along soon enough.

You were sure speaking words of wisdom Scott! A potential buyer had called a few days ago but said he was tied up until the first of the week. I had kind of forgotten about him.

He called last night and wanted to come take a look. After about an hour of light negotiating and a quick test drive it was a done deal. Really nice younger man who owns his own landscaping business.

He was happy and I got a good price for the truck. He lived in the area so he just stopped by his house and grabbed the cash since I had the title.

He may feel safe keeping that kind of cash around, but I was a little uncomfortable through the night. Woke up several times (with my Glock close at hand). I will be glad to make this deposit in a couple of hours!

[mlh]

A lot of people who own their own business have a lot of cash. Most of the time it beats paying taxes. It's hard for the IRS to prove how much they are making and chapter S corps are almost never audited.
Lynwood

[kdeiss]

Keep in mind I am not an Expert but the way I understand a IRS form 8300 must be filed on CASH transactions over $10,000.sold an SUV a few years back the teller at the Bank advised I just come in under the wire when I made the deposit

[JandC]

I know there will be a SAR (suspicious activity report) completed because I deposited so much cash yesterday. If it isn't obvious to authorities where the cash came from, like I sold my truck that same day, they would investigate further.

I may end up having further contract with the Feds or some other form of law enforcement over the deposit of cash. The truck didn't have a loan so it won't be immediately obvious there was a sale. Plus, when I deposited the funds they asked for identification so I produced my Florida Driver's license.

So what we have is a old geezer from SW Florida driving up to Illinois for unknown reasons and then depositing a bunch of cash in a local credit union. When we run this old geezer's credit report we find that he just bought a Harley and a house in Florida. Heck, now that I think about it I am ready to arrest myself!!!!!!!!!!

[mlh]

Yes you need to be thinking about what you are going to tell the Feds, find a good lawyer or just go camping, some place they can't find you.
We will come to visit if they find you.
Lynwood

[kdeiss]

Joe just keep that bill of sale handy you will have no problem!

[PackerFan]

What is the Towing Capacity of that new Harley and does it have trailer and exhaust brakes? Hopefully it will pull that Montana ok since you got rid of the truck!!