Deposit To Hold A 4runner

SCRunner12

SCRunner12

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Does anyone know of a way to leave a deposit with a private party, that I can't get ripped off with?
I'm looking into purchasing a 3rd gen and the guy needs his 4runner till a certain date then he will sign the 4runner over. He wants to set up the buyer now since he is moving out of the country, so he will want a deposit to show good faith that I will buy the 4runner.
It isn't a scam, but my parents (who are fronting me the money till I sell my 2nd gen) don't want me to leave a deposit unless I can't lose the money I put forward. Is there a good way that I can feel safe handing over some money and the owner will feel safe as well?
 
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SCRunner12 said:
Does anyone know of a way to leave a deposit with a private party, that I can't get ripped off with?
I'm looking into purchasing a 3rd gen and the guy needs his 4runner till a certain date then he will sign the 4runner over. He wants to set up the buyer now since he is moving out of the country, so he will want a deposit to show good faith that I will buy the 4runner.
It isn't a scam, but my parents (who are fronting me the money till I sell my 2nd gen) don't want me to leave a deposit unless I can't lose the money I put forward. Is there a good way that I can feel safe handing over some money and the owner will feel safe as well?
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Have an attorney draw up an agreement of sale, signed by all parties, specifying how much $ to be deposited, and the date on which it is to be released, and have him/her then hold it in their escrow account. Every attorney should have one (at least around here they do).
 
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Normally i would say just write it out yourself amd have him sign it, given the circumstances i would feel more comfortable having a lawyer write it up like the realtor says.

See! The right one came around! Any specs?
 
Honestly this has heart ache written all over it... The whole leaving the country thing worries me. First I would run a carfax on the rig and verify that they are the true owner ( copy of title) Then give you a chance to clear the title with the DMV. I picked up an old Jeep Scrambler that had a lien on it from three owners ago. I had to track them down and have them sign off on it. If you put a deposit I say you hold the title! If he has a problem with that tell him to go kick rocks.
 
Hey thanks for the responses. Yeah I don't know if I will go as far as an attorney, but I will look into holding the title.

It isn't a scam, but it is a different kind of sale. The guy is moving back to Japan at the end of the month because his job requires it and his Visa is going to be up. He wants to make sure he has a buyer before he leaves, so he is putting the 4runner up for sale now. The annoying part is that he wants to show it to multiple people to see who he feels comfortable with and can trust will buy the 4runner when he is leaving. I have talked to him extensively and met him and test drove it last night.
He hasn't officially said I will be the buyer, but I'm pretty sure I will be. I have checked the carfax and ran a google search on him and everything. He has never sold a car and is very nervous, so he is going through these steps.

He has all the service records since owning and just had to put a new actuator in because the other one was stuck. I trust the guy, but always good to be safe.

The 4runner is a 99 Limited. Exactly what I was looking for except it doesn't have a locker. Everything works except the clock and has 145k on it.
 
Sounds like a textbook scam.

Why are you so sure it's not? Sorry to doubt the guy, but even craigslist warns against that kind of stuff.
 
Sounds like a textbook scam.

Why are you so sure it's not? Sorry to doubt the guy, but even craigslist warns against that kind of stuff.
 
It sounds like a scam and I was cautious about it at first, but once you meet the guy you can understand why he is doing all of this. He is a 30 something Japanese man originally from Japan and kind of nervous. He didn't one bit give me the vibe of someone to scam people. He has a facebook with him on a segwey golfing. All of his records match up and the company he works for is a high tech software company that is based out of Japan. He came to my house to show me because I couldn't make it out to see the car. The address he gave me matches the address on his Toyota maintenance record print out and the title. Basically he has been consistent with his story and facts the whole time.

Here is the facebook page. http://www.facebook.com/seishiro.hamanaka
 
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Going back to my original reply, any concern of a scam can be completly absolved by paying a lawyer a couple hundred $'s to draw up a legal binding contract with an escrow clause, indicating when and to whom any escrow monies are to be disbursed. You can even condition that clause to read that the attorneys office will not be instructed to release the funds unless signed for by both parties on the given disbursment date.

I don't know what you're paying for the vehicle, but I know if it was me, i'd spend the couple hundred dollars on the attorney simply for the peace of mind. All of this would be easy "boilerplate" language sort of stuff for the attorneys' office to prepare. And if you know an attorney, or have a friend that is, or knows an attorney, you could probably get it done for next to nothing.
 
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If you are talking about a couple hundred dollars how much would it cost for him to rent a car until he leaves and sell it to you now with that somehow taken into account?
 
When is he leaving for Japan?

His terms of sale really irritate me.
I say forget it, but that's just me. It's almost like he is looking for someone "worthy" of being his customer; almost a Seinfeld situation.

"For sale 4Runner LE, great except for clock. Please contact me to setup an interview to determine if you are a worthy buyer. Upon successful completion of interview, you may be allowed to provide me with a deposit"

(just having fun with this, sorry. It does sound like it's in great shape)
 
SCRunner12,

Don't do it...if he's serious about selling it, he would do it now.

And if he really needs a vehicle to get around in, then he can go get a rental.
 
OP: It may not be a scam, but it is fraught with potential problems. You missed the main point about the attorney - "escrow". The atty holds your money, and his signed title.

Listen to your parental units. You've got new car fever, and it's clouding your judgement.

I agree with the buy it now suggestion, or fugeddaboudit.

EDIT: Notice no one told you not to buy this truck, just do it smarter.
 
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This has scam written all over it.

--If he is not willing to hand/sign over the title, and sign a contract of sale (like above), then I would look elsewhere. As well as do a carfax search of the vin.

Again, sounds like BS to me

You'll find something better
 
I ended up keeping in touch with the guy to see how it played out. He turned out to be 100% for real, but he sold the car to a friend who was interested. He tried to help look up the Japanese classifieds to see if anyone else was selling a 4runner in the Bay Area. Bummed it didn't work out, but o well.
I might be waiting a lot longer than I hoped. I'm not finding what I want and I have a friend that might be selling her 2000 Limited with a locker and 85k in June. She is at school now, but said she would sell it to me when she graduates for a good price. I'll probably try to wait for that one unless something really good comes up.
 
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