Deposits on parts

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oldkimmer

FABO Gold Member
FABO Gold Member
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What does the FABO crowd think on this subject? This year I have stated that any deposit I take on parts is non refundable. I also put a time limit on when the part has to be paid for. I don’t mind taking a couple of payments on big ticket items. How long do u guys/gals think a guy/gal should hold a part for with the non refundable deposit? What about if/when a guy/gal misses a payment? Do/should they forfeit the money and part then? Thanks. Kim. Thanks. Kim
 
I wouldn't do it
No offense to our members, but to me, taking deposits on parts is like renting a house for too little of a monthly payment...you're inviting people into your life you really dont want to do business with
 
I too sell parts on this site, and the other alphabet soup, lettered, sites, here on the internet.
So i will give you my to cents worth, in regards to your question.
I don't find anything wrong with you requesting a deposit on payment for parts that you would be selling, and having a non refundable disclosure.
That way if a person is really a serious buyer for the parts, he shouldn't have any objections about paying a deposit.
At least with a deposit, more than likely they will follow through in purchasing the parts.
But i think in the real world of things, people buy the part(s) and pay for them in full, from the get go.
What irritates me is when people tell you they gotta have the part, can't live without the part, really need the part, and both agree on the part cost, shipping, give them your Pay Pal address and then they never follow through in paying you.
Why do people do that from the start, if they aren't going to be following through.

What i now do with any local Craigslist sales, i tell interested parties that i want a deposit on whatever you want to buy from me, put payment into my Pay Pal account, and you pay me the cash balance when you come to pick it up.
That has been weeding out all the shoppers, tire kickers, look-e-loo's, low ballers, from the start.
Seems to be working out for me, the way i now do business on Craigslist.
 
Here is my opinion, Kim. I would take a Deposit for a reasonable amount of time. If the person can't end up buying the part why keep there money. It really didn't cost anything to hold out for a bit. Sometimes things happen where people can't follow through. Or just say no
Holding of parts if you need it gone. Just my .02 I wouldn't want to keep somebody's money for doing nothing.
 
Kim, I see nothing wrong with a non refundable deposit on big ticket items. As stated above, it would sort out some of the unscrupulous people trying to scam you. Depending upon what type of deal you want to make would dictate the time frame for paying off the balance. I've done similar deals on other sites & never had any problems, YET. As far as missing a payment, you need to protect yourself either way. If using Zelle, or PayPal there probably shouldn't be any excuses. But, there are exceptions. (i.e. over looked sudden expense, death in the family, & so on & so forth). There will be people who try to take advantage of you, but once you stand up & let them know that you are serious, I don't think you would have problems. Just my thoughts, I'm sure some others may disagree.
 
I would be leery how they give you a deposit?(PayPal, money order).
They back out (mutually) but file a claim thru PayPal?
 
If they need you to hold it, then I would take 20% down on 500 dollar items or more and hold for 2 weeks. If full payment isn't received within the 2 weeks, item goes back up for sale and you keep the 20%. Should they get the rest of the money before you sale it again, then they pay the 80% and deal done. Personally, I wouldn't take "hold money" on less than 500. Under 500 pay in full.
 
4spdragtop said:
I would be leery how they give you a deposit?(PayPal, money order).
They back out (mutually) but file a claim thru PayPal?
Click to expand...
Great point. Or dispute the charge with the credit card provider. Actions like that could stall a transaction and waste time and effort for a long period.
 
Kim, I look at it this way. How would you like to be treated? Someone has a part that you want or need and you do your best to make things go in that direction. Some unforeseen event happens and your world unravels a little bit. What would you like to have happen to/for you?

But, I see nothing wrong with setting up a clearly understood deal and sticking to that deal as outlined. Each transaction might be a little bit different (since your clearly not running a business) can you say legal issues and taxes? I hesitate to shoe horn you in to one size fits all answer. Some people are just slimy pieces of excrement and choose to ruin stuff for everyone. Good luck.
 
Blind Squirrel said:
Kim, I look at it this way. How would you like to be treated? Someone has a part that you want or need and you do your best to make things go in that direction. Some unforeseen event happens and your world unravels a little bit. What would you like to have happen to/for you?

But, I see nothing wrong with setting up a clearly understood deal and sticking to that deal as outlined. Each transaction might be a little bit different (since your clearly not running a business) can you say legal issues and taxes? I hesitate to shoe horn you in to one size fits all answer. Some people are just slimy pieces of excrement and choose to ruin stuff for everyone. Good luck.
Click to expand...

If a contract is in force with very specific terms and no grey areas, that is protection for both parties. The beauty of it is that the seller still has the option to be 'nice' in special instances like demonracer mentioned.
 
All very valid points guys. I have only taken pay pal once for a deposit. Moneygram and e transfer for the others. Ive had a couple of slow payers so that’s why I put a time limit on it. I have heard all kinds of excuses. I try to give everyone the benefit of the doubt. I know what some guys are saying about ppl trying to take advantage of others. Kim
 
I pawn the odd car off on kijiji. If somebody wants me to remove my ad and lose potential sales, they pay a non refundable deposit. Otherwise, the ad stays up and it is for sale. I’m not really concerned about their issues with acquiring the money for the purchase. Not my problem. Distance and time I can work with. If they are serious, as mentioned above, they have no problem with this. We all have our own issues in life. Sometimes we just can’t or really shouldn’t buy things.
 
I guess one could look at a payment plan as sort of like the old lay-aways since You still have the part(s) in your possession which don’t get shipped or delivered until paid in full. As long as the buyer follows through when they say they will, There should be no problem. Just don’t start making excuses or sending less than agreed on.
 
My standard excuse is "my dog ate my hearing aid" there fore>>>>>>>>>.... lol

Can't anyone apply for paypal credit and get it??? If so, what excuse is there for anyone not to pay in full?
 
Non-refundable deposits are a standard business practice. What kind of deposit is a refundable deposit?
 
i take a non refundable deposit on things have to be picked up. i don't take payments though.. i'm also not holding it for 6 months either.. decide when you can get it when leaving the deposit.

had a guy a while back that caused be to collect a non refundable deposit. he wanted a 8 3/4 i had. was going to get someone local pick it up for him and pay me.. i sent him a paypay request for the deposit spelling out total price, deposit and amount owed. he then decided it was too much money and gave me a sob story and offered me less money... i said ok and when i sent him the paypay request for the deposit i inclused 100 dollar non refundable deposit. guess he didn't notice that so after asking the guy for his buddies number so we can set up when he would come get it numerous times he finally contacts me saying he is backing out. he probably found one local to him. he wanted his 100 dollars back. i said no way man this thing has been off the market for weeks now, i removed the springs for you and the receipt says non refundable.. truthfully i was gonna make him sweat a couple days and refund it but he got all nasty and threatening so i said **** him i'm keeping the money. i ended up relisting it and selling it a week later for full asking price and his 100 dollars... i made out damn well. selling that rear paid for the entire parts car.. :)
 
Slowswinger said:
Non-refundable deposits are a standard business practice. What kind of deposit is a refundable deposit?
Click to expand...
I see what u mean. But I am not a business. I am also not a bank and do not charge interest. I have waited for payments to come on a certain date. Never showed. So a couple days later I message them an they say the payment will be next month. Maybe yes and maybe no. That’s why I made these stipulations. Kim
 
R4Sedan said:
Here is my opinion, Kim. I would take a Deposit for a reasonable amount of time. If the person can't end up buying the part why keep there money. It really didn't cost anything to hold out for a bit. Sometimes things happen where people can't follow through. Or just say no
Holding of parts if you need it gone. Just my .02 I wouldn't want to keep somebody's money for doing nothing.
Click to expand...

It's not for doing nothing though.
It's for not being able to sell the item to someone else and be done with it.
It's for the time involved making the deal and have it fall through later.
It's for making sure you don't have window shoppers taking up your time.
A deposit to hold for a mutually agreed upon time and then full payment or you lost the part and deposit both. (And I'm sticking to it):D

barbee6043 said:
My standard excuse is "my dog ate my hearing aid" there fore>>>>>>>>>.... lol

Can't anyone apply for paypal credit and get it??? If so, what excuse is there for anyone not to pay in full?
Click to expand...

People that short should save up for what they want, instead of trying to force others to provide zero interest financing.

Slowswinger said:
Non-refundable deposits are a standard business practice. What kind of deposit is a refundable deposit?
Click to expand...

Autozone tool rentals.:D
 
Here is a little story that happened to my buddy. He put a deposit on a car. We went to pick it up and the guy wants full pop for it. What do u mean my buddy says? I gave u a deposit. Yes the guy says, u gave me a deposit to hold it 4 u. Not to pay on the car. All I could think was holy ****. Kim
 
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Even holding onto stuff until its been paid is tough. Man up and tell me ASAP if you can't buy it after you said you would (thank you for that heads up). Its a crap shoot. Pay me and Ill send it. Cant afford it? Come knockin' when you got enough.
 
As someone who doesn't have an unlimited amount of money, I try to stay out of buying things that I don't have the money saved for. So far, I haven't been, that I can recently think of in the situation. But I have been, and I do my best to make it right. But I will say that yeah if something does come up, the seller does deserve something for holding up potential sales. So a nonrefundable deposit is reasonable, and maybe a little extra money for the time is not out of the question either. Just my 2 cents...
 
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