Selling a bus, and carrying the note????

Kwajdiver · October 19, 2012, 08:19:55 PM

Don't we have a busnut in Mariette Ga. Anyone know who that might be.
I'm drawing a blank.

Bill

Dave5Cs · October 19, 2012, 08:47:04 PM

If you decide to do it anyway, charge him a good down payment with high interest payments with a due in full date and a clause that states if any payments are missed that the full return of the coach become due 5days after missed payment.
Also the pink is held by you and any transaction should be Notarized and signed with witnesses.

Might think about seeing if he will give you a finacial statement both personal and business and ask if he has ever gone bankrupt. If he says yes then say no thank you.

Just some ideas, Dave5Cs

Ron4104 · October 19, 2012, 08:53:08 PM

I sent you a pm for pictures and info on your bus. Let me know if you do or do not receive it. Ron 4104

Kwajdiver · October 19, 2012, 09:06:03 PM

Ron,

Just replied to your PM.

Bill

Jeremy · October 20, 2012, 02:40:51 AM

Someone I know used a different type of arrangement when selling a house; the buyer was short of the full amount but knew he had a substantial chuck of cash coming to him in a few years; the buyer and seller made a deal whereby the buyer would pay 80% (or whatever) of the amount, with the remaining 20% lump sum due on a particular date (with no intervening payments at all). The 20% was to be 20% of the house's value at that time, not 20% of the value when bought, and the arrangement stipulated that if the payment wasn't made the house would be sold and the buyer receive the money that way.

The seller (the guy I know) is a part-time property developer and was very relaxed about making the arrangement because he was very sure that the house value would increase and in fact he did end up with a nice additional profit which he wouldn't have otherwise had.

I'm not saying this could be used on a bus though - still owning part of the title won't help much if you don't know where the bus is.

Jeremy

muldoonman · October 20, 2012, 04:57:19 AM

Sold a cheap boat back in the day to a so called friend on monthly whose dad had money and a good business. Made first payment and quit. He hid or ran everytime i seen him. Dad was just as big of crook as he was no help. Caught him one day and took it out on his noggin. Cost me a broken hand, half a day in the slammer, and a lawsuit. I won but cost mo money. I wouldn't think of selling anything on wheels on note unless I got what it was worth upfront. Never seen the boat again.

ps.

the broken hand was worth it.

luvrbus · October 20, 2012, 06:36:11 AM

Most small business and individuals have enough line of credit on their credit cards to buy a bus in today's market check into that

Hobie · October 20, 2012, 06:40:43 AM

Don't do it.

Just for kicks, assuming he put half down he still needs to come up with $15k. First, he should be able to get some kind of loan for this relatively small amount. But the problem is that if he is planning on running around the Southeast he will be burning all his future payments up in fuel. Throw in a tire or two, engine work and you will never see your money.

Tell him you will accept a deposit of $5k and you will take it off the market for a year. If he can't come up with $10k in a year,... Plus if he really wants it, he will find a way to come up with the money. Don't make his problem, your problem.

Len Silva · October 20, 2012, 06:42:09 AM

I tried to buy a truck at one of those buy here-pay here dealers for a reasonable cash price.
The dealer told me he doesn't sell for cash, weekly payments only. He then confided that he would likely sell that truck three or four times.

lostagain · October 20, 2012, 08:35:00 AM

Me, I would maybe take monthly payments, but the bus would stay in my yard until it is paid in full. And charge for storage in the meantime, LOL.

That's what we do with horses sometimes, and get board too, seriously.

JC

Cary and Don · October 20, 2012, 08:55:35 AM

We sold horses on time to a breeder ONE time. We held the papers. He stopped paying. We sued for our money. Judge made us release the papers or the judgement went to the buyer. The judgement we got we couldn't collect on anything. Even though he was a business man, we couldn't lien any of that property because we would be stopping his ability to work. Never got another dime. Lost horses and a $7K lawyer bill.

Don and Cary

luvrbus · October 20, 2012, 10:07:06 AM

It could workout for him,I still do it from time people always tell me not to send parts before they are paid for

I do it anyway never got taken yet but a bus would be a big gamble one I sold worked out great one did not so it would be roll of the dice for Bill

good luck

Van · October 20, 2012, 10:09:57 AM

You didn't send that one thru the mail did ya?

luvrbus · October 20, 2012, 10:17:37 AM

Lol nope Van I delivered that one, the last one I sold I told the guy cash he took it like I was saying cash as in 100 dollar bills try getting that into a bank they look at you like a dope dealer

If you tell a cowboy cash that is what you get

good luck

John316 · October 20, 2012, 12:16:19 PM

Lol, Clifford. Like Matt (saddleup) kind of cowboy? It really can be amusing depositing that amount of cash. It can take a while if they want to mark every single bill.