Car sale agreed...or so I thought

[MERVYN-nh7ra]

After viewing a mk1 MX5 for the second time ( Car was garaged on the first visit and the elderly Gent selling said he would need more notice if I wanted to take it for a test drive! ) I made an offer of £1400 against the advertised price of £1500, which the gent accepted. He invited me into the house so as to complete the paperwork and transfer the money, I followed him in within a couple minutes as I got my phone out of my car. At this point I met his wife who wasn’t happy with the agreed price and made it clear that her husband should have held out for the full asking price, as others had shown an interest, I pointed out that as we had shook hands on the deal I expected it to be honoured, against my own principles I even offered to go to £1450. The guy dithered for a while and said he wouldn’t sell for less than £1500.
Now the car is worth more than they were asking, but I decided to walk away - as I write this 2 hours after getting back home I am wondering if I should have just paid the full price.

[M.F.D]

A bit stty from the seller no doubt, but clearly a situation where it is £1500 or nothing.

Don't cut your nose off, if you think it is worth £1500 and are happy paying that, then go buy it before someone else does.

[Paulm4]

I'd message him and say that your offer still stands. Once he's had a few timewasters and ghosters he might well get back in touch...

[S100HP]

You went home empty handed for £50? Mental

[Nickp82]

Can’t see the point of losing the car over £50. Yes he shouldn’t have gone back on the original deal but in the long run who cares? If you want the car buy it.

[gsr121]

If it is the right car and ticks all your boxes, I don’t think I would want to lose it for £50.

You could play a game of brinksmanship and you might win, or you might lose. If it is the latter, would you be able to find what you want elsewhere for £1,450?

[scorcher]

Paulm4 said:

I'd message him and say that your offer still stands. Once he's had a few timewasters and ghosters he might well get back in touch...

And then when he does tell him you only want to pay 1300 now as he’s trying to sell it to you now.

[MERVYN-nh7ra]

I know that the £50 is really neither here nor there, but at the time the attitude of him and his battle axe wife really wound me up… I had literally shook his hand on the deal minutes earlier.

[Carlososos]

MERVYN-nh7ra said:

After viewing a mk1 MX5 for the second time ( Car was garaged on the first visit and the elderly Gent selling said he would need more notice if I wanted to take it for a test drive! ) I made an offer of £1400 against the advertised price of £1500, which the gent accepted. He invited me into the house so as to complete the paperwork and transfer the money, I followed him in within a couple minutes as I got my phone out of my car. At this point I met his wife who wasn’t happy with the agreed price and made it clear that her husband should have held out for the full asking price, as others had shown an interest, I pointed out that as we had shook hands on the deal I expected it to be honoured, against my own principles I even offered to go to £1450. The guy dithered for a while and said he wouldn’t sell for less than £1500.
Now the car is worth more than they were asking, but I decided to walk away - as I write this 2 hours after getting back home I am wondering if I should have just paid the full price.

I don’t blame you at all I would be totally pissed off. The gent who agreed the price is presumably an adult and had agreed the deal if it wasn’t good enough for her then that’s his problem to sort.

I would want to walk away on principle but wouldn’t want to lose the car. Hmmmm

[stevemcs]

I’m a stubborn git, I’d have walked too. It’s not the money it’s the principle, you agree a price and that’s it.

[M.F.D]

As I said OP, don't cut your nose off.

I'm guessing you can't find another good one for £1500?.......

[Wacky Racer]

MERVYN-nh7ra said:

I know that the £50 is really neither here nor there, but at the time the attitude of him and his battle axe wife really wound me up… I had literally shook his hand on the deal minutes earlier.

Go back, pay them the full asking price but curl one out on their bathroom floor when you ask to use the loo.

[P. ONeill]

Selling a car at the minute, OP reminds me why it’s such a thankless task.

[Wacky Racer]

P. ONeill said:

Selling a car at the minute, OP reminds me why it’s such a thankless task.

I don't think the OP has actually done anything wrong in this instance, he made an offer close to the asking price which was accepted.

[Heathwood]

P. ONeill said:

Selling a car at the minute, OP reminds me why it’s such a thankless task.

Eh? OP agreed to buy at a price that both parties agreed on. It was the seller that messed the buyer around.

[samoht]

MERVYN-nh7ra said:

I know that the £50 is really neither here nor there, but at the time the attitude of him and his battle axe wife really wound me up… I had literally shook his hand on the deal minutes earlier.

This is the dilemma, whether to stand on principle and walk away, or to swallow one's pride and go along with the 'renegotiation'.

It's a tough one because as you acknowledge the car's easily worth £1500, so you're definitely losing out by walking.

On the other hand, it's an important principle that once a deal's agreed, it's honoured. It's hard to do business with someone who you can't trust to keep their word.


To take a step back and look at the situation another way

MERVYN-nh7ra said:

the car is worth more than they were asking.

one could choose to take the view that when a car is advertised for less than its market value, the thing to do is to offer the full asking price. I.e. negotiation is for when you have a reason that the price should justly be lower than the asking, not just something one does automatically to try and gain any further advantage that may be available.

If you follow that approach, then you can decisively walk away from any attempt to renege on an agreed deal, because at that point you'll expect to find a better car for the same money elsewhere.

The issue here is that the original price was already a good one, so when you negotiated a further £100 off, you were then in a situation where the offer of going back to paying the original price was both unappetising (because they reneged on the agreed deal) but at the same time attractive (because it was still cheaper than you'd find elsewhere).

So in a sense, the dilemma is in part a consequence of asking for money off a car that was already priced lower than its 'fair' value.

(This isn't to criticise you, just an attempt to open up another way of seeing the situation).

[anonymous-user]

MERVYN-nh7ra said:

the car is worth more than they were asking, but I decided to walk away

Crazy, for the sake of £50.

[P. ONeill]

Wacky Racer said:

P. ONeill said:

Selling a car at the minute, OP reminds me why it’s such a thankless task.

I don't think the OP has actually done anything wrong in this instance, he made an offer close to the asking price which was accepted.

Yet he’d lose the car, which he agrees is worth more, over £50? I’m going to take the WBAC offer if I don’t get close to my asking price, just not worth the hassle.

[RUSSELLM]

I'd give him the £1500 and wrap a skirt up in some Christmas paper.

Or better still, turn up with the cash, do the deal with him and say "I'll give the money to the boss", then hand it to her.

Edited by RUSSELLM on Saturday 20th August 00:32

[Shappers24]

Depends how far you’ve travelled and if the car is, in your opinion worth £1500.

If it is, then yes you’ve been a bit daft.

I’ve never really understood this ingrained need to knock money off when buying a car. It doesn’t happen in any other walk of life so not sure the whole need to ‘do a deal’…