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Old 24th February 2013, 21:32   #16
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Default re: Agreed to sell my car. Now having second thoughts. What to do?

Well then return the money ASAP and get a signed receipt.
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Old 24th February 2013, 22:03   #17
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Default re: Agreed to sell my car. Now having second thoughts. What to do?

Mate if it is your car and you struck the deal your wife is not the appropriate person to pay the amount to. Return the amount asap.
If he had paid YOU, then on a principle basis your stand would have been weaker.
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Old 24th February 2013, 22:51   #18
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Default re: Agreed to sell my car. Now having second thoughts. What to do?

To be brutally honest with you, you are bound by the law to go forward with the deal .

The only way out of this is if you politely tell him the truth. Do not fabricate a story about the car being in an accident or something else. This may have subsequent consequences which will not be in your favor.
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Old 24th February 2013, 22:59   #19
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Default re: Agreed to sell my car. Now having second thoughts. What to do?

Tell him the truth. He seems like a gentleman because he paid 50 grand to you, trusting you to not just swallow the money since there was no receipt or any kind of paper work involved.

Just give it back to him in a similar fashion with an apology and it should be fine.
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Old 24th February 2013, 23:43   #20
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Default re: Agreed to sell my car. Now having second thoughts. What to do?

A car deal is very different from a real estate deal, as it is very rare that a car deal is cancelled because the price has increased!
Also, the dealer handing over money to your wife who was not a party to the transaction, seems to be a very casual approach! Did he talk to you over the phone at the time of handing over the money, or did you get to know when you returned home?

I dont think you are obligated to anything. Just return the token money to him, without bearing any penalty saying that you have changed your mind and want to keep the car for a bit longer.
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Old 25th February 2013, 01:18   #21
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Originally Posted by abeerbagul View Post
A car deal is very different from a real estate deal, as it is very rare that a car deal is cancelled because the price has increased!
Also, the dealer handing over money to your wife who was not a party to the transaction, seems to be a very casual approach! Did he talk to you over the phone at the time of handing over the money, or did you get to know when you returned home?

I dont think you are obligated to anything. Just return the token money to him, without bearing any penalty saying that you have changed your mind and want to keep the car for a bit longer.
I will return the money in the morning with an apology.

Will update
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Old 25th February 2013, 14:23   #22
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Default Re: Agreed to sell my car. Now having second thoughts. What to do?

Certainly not principled. If you agreed to something and have accepted a token amount, you are expected to proceed with the deal.

Of course, since there were no signed MOUs / similar documents, you can walk away from the deal without legal repercussions.

Still doesn't change the fact that you wasted someone's time & effort. Return his token with an apology. But the next time, please don't enter into an agreement unless you are absolutely sure of your decision.

The best strategy with buying / selling is to ask for more time. If not a 100% sure, never agree to buy or sell anything on the spot. Always spend more time thinking...maybe even sleep on it.
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Old 25th February 2013, 23:10   #23
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Default Re: Agreed to sell my car. Now having second thoughts. What to do?

See, If getting your car evaluated with a final price is getting into a contract/agreement, then this type of agreements are made dail and breached daily. I just got it evaluated to know the market price so I can sell my car.

IF he paid the token money by pushing my wife who has no role in selling car no she was representing me, I was morally not wrong.

Never mind I returned money and with an apology.
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Old 26th February 2013, 05:53   #24
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Default Re: Agreed to sell my car. Now having second thoughts. What to do?

Hi,

Though there is nothing written as an agreement between you and the dealer. It is always a matter of principle when you accept the amount that you are into the deal. It also depends on whats the level of relationship between you and that person.
The moment you cancel this deal he is most likely going to ask you for the amount he spent for evaluating your car and for the paper work (if he has initiated any.
As suggest by all on the thread you should not waste time and sort this ASAP.
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Old 26th February 2013, 22:29   #25
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Default Re: Agreed to sell my car. Now having second thoughts. What to do?

I already did. Returned the money
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Old 27th February 2013, 11:25   #26
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Default Re: Agreed to sell my car. Now having second thoughts. What to do?

Note from Mod : Now that the problem is resolved. Closing this thread. If anyone wishes to add anything constructive, do report the thread so it can be re-opened.
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