getting out of a car contract - Toyota Nation Forum : Toyota Car and Truck Forums

koss78a · 10-27-2004, 11:50 AM

im presently trying to sell a used car, to a buyer

i made a verbal agreement with them about price etc

problems is i realized i made a mistake and offered too low of a

price
is there anyway can get out of this verbal agreement , legally?

if so how can i do it,

so far the buyer isnt taking th e fact i decided to not sell the car now

whats your opinions

SpyderGS · 10-27-2004, 11:55 AM

I believe a verbal agreement is just as good as written, but i understand your situation pretty well(having been burned before on car purchases).

You can always try to add things to the price of the car, like tell him the paint is an extra $5000 dollars, otherwise you need him to take it off before purchase

realize this is only a joke!

Toysrme · 10-27-2004, 11:57 AM

Not true. In most states of the US a verbal agreement means nothing. I would assume the same is for Canada.

In Alabama, a verbal agreement is binding.

micro214_kp61 · 10-27-2004, 11:58 AM

do you still have the car? if so, just tell him you made a mistake with the price and that you quoted him too low. if he doesn't like it then that's his problem. just make sure you're not asking something really rediculous. like you were selling it for $5000 and now it's $9000 IMO. goodluck!

newbi · 10-27-2004, 12:13 PM

Honest is always the best policy. Tell him you've changed your mind. Did your "verbal contract" include a delivery date? If not, theres your out....sure I'll sell it to you for that amount....April 2, 2016

koss78a · 10-27-2004, 01:04 PM

well the problem is i told him a date, i told him my new car will be in on november somtime, then he can get my used car im selling
so i told him today about this and he flipped
saying he is going to threaten legal action if i dont sell

the car he is buying is for his girl friend, and today she got out of her parents insurance and took out a loan from the bank for my car

am i allowed to back out of the sale at this point still, it was only a verbal agreement before, nothing written or signed
i havent received a payment at all yet,

i am in ontario, canada, what are my legal options
ireally dont want to sell at this low price now, i dont want tosell to him any more,

whats your suggestions

Flashmn · 10-27-2004, 01:07 PM

Quote:

saying he is going to threaten legal action if i dont sell

Well I wonder what he's evidence would be "Because he told me so"?

Quote:

the car he is buying is for his girl friend, and today she got out of her parents insurance and took out a loan from the bank for my car

Thats he's and his girlfriends mistake.

Quote:

am i allowed to back out of the sale at this point still, it was only a verbal agreement before, nothing written or signed
i havent received a payment at all yet,

I dont see why not, like you said, you have no written contracts.

***silver04rollas*** · 10-27-2004, 01:21 PM

I think your buyers are a bunch of morons. They are taking out loans etc. without even a signed agreement??? I mean come one. As far as I know, they are BSing you in order to pressurize you. You are the legal owner of the car as of right now and you are entitled to do anything you want with your car. It was their foolishness that they did not get a written receipt or a contract at the purchase was finalized. As far as I know, a verbal commitment is good for nothing. It is an unwritten rule that you get a written contract ( or atleast get a written sales receipt) tying the two parties together before you look any further. There is no way they can take any legal action in Canada.

Cabanon · 10-27-2004, 02:04 PM

if i were the buyer, i would punch you in the face haha
no shit dude, if nothing were signed, then you can do whatever you want
it just suckx that you realize all this after you said you're gonna sell him at this price

Pineapple · 10-27-2004, 02:17 PM

Talk to the buyer and try to work out a solution. Threating each other is not part of it. You both made a mistake so maybe each give in a bit. You sell at less then what you want and he buy at more. It always better to sell the car now then wait for next buyer to come up. Unless its a collectable. Since you've agree on the low price before, you not really losing money, you just not make enough.

knightbr · 10-27-2004, 02:43 PM

How do you know your car is worth more?

***REN69*** · 10-27-2004, 08:18 PM

Its your car.. if you dont wanna sell it for 10cents instead of $1 then its your choice not his. Like someone said.. tell him you made a mistake, if he doesn't like it.. then oh well! there's other buyers out there.

TwiztidxxNinja · 10-27-2004, 11:29 PM

I know a couple of other people have said this and I don't know all the legalities in Canada, but usually verbal agreements are worth anything. Only something in writing. You should talk to a cop or someone at a government facility that would know. Maybe call a courthouse or something along those lines. Plus if hes threating you I would tell him off cause threating gets you nowhere.

toyotaspeed90 · 10-28-2004, 03:25 AM

you're selling a used car, say that it was advertised before he had made an offer, and tell him that someone else offered more.... but then be the "nice" guy and tell him that because he had first dibs on the car you would sell it to him for the same price this "other" buyer offered......

when dealing with things like this, it's pretty much impossible to prove if something was said or not and if anyone else PHYSICALLY heard the conversation or not, not hearsay

okypinoky · 10-28-2004, 06:09 AM

Hello:

I am an attorney here in Virginia. Although I am not aware of the specifics of your case and/or the law of your Providence, hopefully this will help. In most cases verbal agreements are not legally binding, although many states have passed laws that arguably side with victims of agreements that failed to produce to achieved result. In your case, you agreed to sell an item for an agreed price. Should he proceed with any legal action you should be aware of a few points:

1. Did you advertise? If so - AND the price agreed is in print, the judge will honor the verbal agreement based on that fact alone. Not because he is upholding a verbal, but because your premise for not honoring the agreement is based solely on price. However, for example, if you discovered that the individual had no licence and was not capable of driving, then you would have a justifiable and legal means in which to not honor the agreement.

2. If the defendant can justifiably prove by using documentation that the INTENT to sell was there, the judge could uphold the agreement. Documents such as insurance, loan papers, etc... could be used IF the dates are consistent with the original verbal agreement. He could not take out the loan today and use that as a justifiable means to sanctify the verbal agreement of three weeks ago.

3. Did the original owner use the agreement to benefit himself? Although, this may not be the case for your situation, if you purchased a new vehicle AFTER and DUE TO the sell of the original vehicle this would show legal INTENT and the judge could uphold the verbal agreement.

Finally, always keep in mind that honesty really is the best policy. This situation is not all the buyers fault. You attempted to sell the car before doing your research. He discovered he was getting a deal and now you are backing out. Morally you are obligated to uphold the agreement and although you may have some legal means to do so it could be expensive to do. Courts cost money - even if you hire no attorney. Time off from work, use of vacation time or simply time out of your free time all cost something. You need to weigh whether the cost outweighs the benefits.

Hope this helps.

R/
Oky