Going back on a handshake
Discussion
Would you ever go back on a handshake?
I thought I had a deal agreed on my next car. Hands were firmly shaken on an agreed price. There was discussion as the actual asking price was a little ambiguous. I thought it was on Auto Trader for one amount and he for another as his manager put it on. Either way, we shook.
Today I got a call saying as it had been on at a higher price than when we spoke could he have some more money. To say I was shocked is an understatement. Under any other circumstances I would have called the whole thing off on the spot, my handshake is my absolute bond.
Here's the rub. It's the car I want. There are very few of this spec about and chances are another one won't come along in a very long time. So I've ended up paying £100 more for it. The amount is small, but god I'm positively fuming. I was bought up that a handshake is cast in stone.
I so wanted to end the deal right then, but deep down I think I would be cutting my nose to spite my face. How would you feel in the same situation?
This really starting to rancor :irked:
I thought I had a deal agreed on my next car. Hands were firmly shaken on an agreed price. There was discussion as the actual asking price was a little ambiguous. I thought it was on Auto Trader for one amount and he for another as his manager put it on. Either way, we shook.
Today I got a call saying as it had been on at a higher price than when we spoke could he have some more money. To say I was shocked is an understatement. Under any other circumstances I would have called the whole thing off on the spot, my handshake is my absolute bond.
Here's the rub. It's the car I want. There are very few of this spec about and chances are another one won't come along in a very long time. So I've ended up paying £100 more for it. The amount is small, but god I'm positively fuming. I was bought up that a handshake is cast in stone.
I so wanted to end the deal right then, but deep down I think I would be cutting my nose to spite my face. How would you feel in the same situation?
This really starting to rancor :irked:
I've done the same thing in the past. If you hadn't coughed up what they wanted, then someone else would have....and like you, I wanted that particular motor. I suppose you could always remind them at a later date of 'how willing' you were to meet their price (I'm assuming you're buying the motor from a garage and it comes with a warranty) may just come in handy. Or just get the keys and docs and vent your frustration on the way out!
You want to working in the M&A world mate! The number of times I've shaken hands on a deal, and the other person has changed their position is staggering! Nowadays, I keep copious notes and at the end of the meeting I get everyone to initial what's been verbally agreed. It's a total nightmare, but it's the only way, I've found.
When I have been turned over in the past, I tend to be quite pragmatic. I have a phrase "let's lose the argument and win the deal". Otherwise, very often making a stand on principle is a masquerade for pride. And pride is the single biggest deal killer. So - buy the damn car!!
When I have been turned over in the past, I tend to be quite pragmatic. I have a phrase "let's lose the argument and win the deal". Otherwise, very often making a stand on principle is a masquerade for pride. And pride is the single biggest deal killer. So - buy the damn car!!
Gazumped, I suppose.
I 'sold' my last car to a chap for £1800 - he paid £200 cash deposit and said he'd be back in a day or so with the balance.
Two days later he rang up and was starting to faff. 'What do you want?' I said. He said that I hadn't told him the aircon was duff (not true, we'd sat in the car when I told him about it and he went on to say he might start a car a/c business!). He said that he wasn't prepared to pay £1800 any more.
The simple fact was that he'd changed his mind and was trying to blame me for it
So I got to keep the £200 AND sold the car to someone else
I 'sold' my last car to a chap for £1800 - he paid £200 cash deposit and said he'd be back in a day or so with the balance.
Two days later he rang up and was starting to faff. 'What do you want?' I said. He said that I hadn't told him the aircon was duff (not true, we'd sat in the car when I told him about it and he went on to say he might start a car a/c business!). He said that he wasn't prepared to pay £1800 any more.
The simple fact was that he'd changed his mind and was trying to blame me for it
So I got to keep the £200 AND sold the car to someone else
Aye, but on the same token - what's the point in demanding an extra £100 on top of a sale of 30k+ ?! (Just guessing here)
Pointless, petty and if it had been me, I would probably have done the face sans nose thing on principle.
Hang on, maybe this was a sign that ya shouldn't have been buyin' a pouffy 996 Cab 
Pointless, petty and if it had been me, I would probably have done the face sans nose thing on principle.
Hang on, maybe this was a sign that ya shouldn't have been buyin' a pouffy 996 Cab MikeyT said:
Have we got another Beetle in the village now then?
Hopefully very soon
Srebbe, I think the guy probably works in M&A, he has a car business, but I feel that's a sideline.... I should have known from his house that he didn't get rich by accident
Alex
, that was my point, a poxy £100 on a £30K + deal, I wouldn't have risked blowing it for that. Bloody principles, they'll get me nowhere
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