Original write-up by gilwood
Selling my s2000 was a really unpleasant experience. I had at least two buyers that seemed to fit a certain personality type that I will attempt to describe. Consider yourself forewarned, if you are thinking about selling your S2000. A few people that came to see the car, appreciated it for its beauty, capability and determined that they could not afford it. The others who came, seemed to only find its flaws. They would pick up on nearly imperceptible dings and scratches in the paint. Having done that they’d move on to inspect the top thoroughly for wear marks and tiny tears. Never mind the excellent running condition of the engine, brakes, tires and whatever was right on the car – they looked for all superficial flaws in the car they could find. Then it was as if they’d go into a trance – frantically recalculating the asking price, $500 to fix this tiny ding, $500 to fix the scratch, $1600 for a new top. Their only objective to justify their low offer price and convince me.
A second battery of questions would follow to judge how desperate I was. Why are you selling the car? How much time do you have to sell the car? How long has the car been on the market? Answers to the above would see them slipping into yet another recalculative trance.
As if that were not enough, there’d be a bonus round of questions – and you have to be wary of these. Did you use snow tires in the winter? If you say you did, then you’ll get asked to include them in the package. God forbid, but if you sold them, they will want that amount taken off the price, such is the nature of these buyers. Other questions I’ve answered include: Do you have a hard top? Do you have the convertible top boot? Do you have the old owner’s maintenance records?
One low baller (as I fondly like to call them) wanted the car inspected at 8am on a Saturday. I think the time of day made it hard for me to think straight since I was used to sleeping in. The guy I sold my car to insist that I pay half of the inspection costs ($127), which I didn’t find unreasonable. But then he asked about extra keys on the way to the bank. I said I have them at home and would give them to him when I got back. I was stunned when he asked for $250 to be taken off the price right then and there. His illogical rationale was that he would never see me again after the sale. Finally we agreed upon $125 off until the keys were delivered. It was just another strategy to take more money off the top. I doubt I’ll ever see that $125 for the keys.
Another concern that became apparent soon enough was that certified checks can’t be deposited on a Saturday since that isn’t technically a work week day (bank day?). In essence I gave him two days to basically withdraw all the money from his account after he got my car. At that point I was unsure how true that was, and was worried until the money was fully deposited in my account.
I called the bank eventually and discovered that he could put a stop payment on a certified check until it is fully processed. I was paid on a Saturday at 11am and he has until midnight on Monday night to stop payment. This means I won’t have the money secure in my account until Tuesday morning. Certified checks / Bank checks are not the same as cash. Next time I’ll request a wire transfer instead or just ask for cash.
If you don’t have theft insurance on your car, then it might be a good idea to add it just before a sale in case you get tricked out of your car. Good luck with your sale.
S2000 Forums-> How to sell a Honda S2000 – Low Baller’s Strategy
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on Aug 26th, 2010 at 4:57 am
how not to sell a s2000…
on Aug 26th, 2010 at 6:54 am
I would try to filter those low ballers from a phone conversation. By listening to the way they speak, questions they ask, etc… Then decide is it worthy to show your car to these individuals.
on Aug 26th, 2010 at 8:04 am
This is your fault for entertaining such requests…..”how not to sell a s2000″…ditto
on Aug 26th, 2010 at 8:07 am
Meh. This is just what people do.
on Aug 26th, 2010 at 9:03 am
I quote a price and have in mind a price I’m willing to accept. If we negotiate down to my minimum I make it clear that the car will not be sold for one penny less. I also make it clear that I am NOT a motivated seller who has to get rid of the car.
As to payment, I believe a Cahsier’s check is as good as cash. The buyer pays the bank for the check, and the check is actually a claim against the bank, not against the account of the buyer. The buyer cannot recover his funds except by proving fraud.
This from my wife who works at the fed funds desk at a local bank but also has experience as a teller and a CSR. Wikipedia also has some pretty good info on Cashier’s checks including their legal standing. http://en.wikipedia.org/wiki/Cashier's_check
A certified check is issued against the buyer’s account but the bank certifies that the funds are available in the account and also puts a hold on those funds. So a buyer cannot simply withdraw the funds or close the account and thus avoid payment. However in some cases the buyer could put a stop order on the certified check. Simply put, the cashier’s check is more of a cash equivalent.
on Aug 26th, 2010 at 1:00 pm
Just attach this article to your FOR SALE post on craigslist. Hopefully the numb nuts people will read it and will not want to waste your time knowing how you feel about this topic.
on Aug 26th, 2010 at 9:24 pm
What model year, mileage, and condition was your car and what kinds of offers (be honest) were you getting from these so called “low ballers”? What did you expect to get for your car? Depending on these answers you could either be a completely deserving or undeserving of your selling experience.
on Aug 27th, 2010 at 5:02 pm
You’re a retard, I am sorry, but you really need to wake up and realize what is at stake. He could have just as well as stuck you with a shank. Grow up and understand, people are not your friends until they are vetted. In other words, trust no one!
on Aug 27th, 2010 at 5:07 pm
Be their friend, it’s the best way to vet anyone. Even if you don’t like them, be their friend. Even then, don’t trust them until they are truly proven.
“Friends help you move, real friends help you move bodies”
Unknown
on Aug 27th, 2010 at 5:14 pm
My S2K is the most enjoyable ride I have ever owned, two people have driven it besides me and one is my wife…. The other is my best friend…. If I am selling it, be sure that the person who is buying is bringing a cash offer. If they have they have to jump through hoops with their bank, let them – in that event, I walk to the cashier and cash my check with them in tow…. They don’t get keys until I get cash…
“You should never rush a sale, it only hurts you with the errors in the end”
Joe
on Aug 27th, 2010 at 5:21 pm
I hope this is enough for you to sell your next car, and never sell another S2000… They are a poor mans gem, for now…. By the way, I love the car – lol
on Aug 29th, 2010 at 2:56 am
There must be something wrong with my friend Jeff. He took one look and one short test drive in his S and offered the seller his full asking price. When it came time for the money transfer, Jeff even felt sorry for the guy. He had been paying on a hefty car loan for about 3 years, but because of military obligations, had less than 4,000 miles on the car.