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Selling a Morgan in lockdown #684152
20/01/21 09:18 AM
20/01/21 09:18 AM
Joined: Jul 2018
Posts: 683
M3W55 Online content OP
Talk Morgan Regular
M3W55  Online Content OP
Talk Morgan Regular

Joined: Jul 2018
Posts: 683
I would appreciate advice from wiser heads.

I may have found a buyer for my Morgan, but he is happy to wait until the end of lockdown to have it delivered. Others are interested in the vehicle and I would not want to lose them if he withdraws in the interim. Is insistence on a large (eg 10%) deposit the best way to lock him in or should I go to the trouble of setting up an escrow account and demanding full payment into that in advance?

Before you ask, I have offered to have the vehicle professionally delivered, but the prospective buyer is happy to wait and avoid the cost

Re: Selling a Morgan in lockdown [Re: M3W55] #684155
20/01/21 09:35 AM
20/01/21 09:35 AM
Joined: Sep 2014
Posts: 1,819
London
MOG 615 Offline
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MOG 615  Offline
Talk Morgan Enthusiast

Joined: Sep 2014
Posts: 1,819
London
I think this all boils down to trust.

If the individual is a long time Morgan owner and you have established a good relationship via Zoom or similar platform where you can "see the whites of their eyes" then I would personally be inclined to trust and ask for a securing deposit.

If there is any doubt at all in your mind about them, then I would ask for the whole amount, and explain very politely that you have had several other offers, but as a man of your word you have agreed a deal and will stick by it. However if this causes friction suggest that they could they possibly set your mind at rest by paying a larger amount now (say 50%?) and the rest on collection.


Andy G
1999 +8 , Indigo Blue.
Ex-John McKecknie/Mike Duncan 1955 +4 racer.
Re: Selling a Morgan in lockdown [Re: M3W55] #684156
20/01/21 09:42 AM
20/01/21 09:42 AM
Joined: Sep 2016
Posts: 610
Chester, UK
Grumpy2 Offline
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Grumpy2  Offline
Talk Morgan Regular

Joined: Sep 2016
Posts: 610
Chester, UK
I faced a similar conundrum. In the end I had my mini delivered by the seller and transferred the funds while he was here.

We didn’t come close to each other and he left the car, keys and v5 in the car which was left parked outside our house. The ‘handover’ took about 5-10 mins max and we were never closer than the width of a road. After he left I donned gloves and a mask, windows down (not a problem with the Morgan) and drove it straight into my garage.

He was quite local and I know him well so that all helped


94 plus 8 in Westminster Green - I think!
Re: Selling a Morgan in lockdown [Re: M3W55] #684162
20/01/21 10:29 AM
20/01/21 10:29 AM
Joined: Jul 2007
Posts: 19,123
Suffolk
John V6 Offline
Member of the Inner Circle
John V6  Offline
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Joined: Jul 2007
Posts: 19,123
Suffolk
I would have thought if they were a genuine buyer a 10% deposit & note of sale would work. But it depends how long you think the lockdown lasts & how quickly you need the cash


JohnV6
2006 Indigo Blue Roadster S1
2014 Brooklands Edition Roadster "Brookland's Belle" #5 of 50
Re: Selling a Morgan in lockdown [Re: M3W55] #684163
20/01/21 10:38 AM
20/01/21 10:38 AM
Joined: May 2014
Posts: 3,721
Essex
Burgundymog Offline
Talk Morgan Addict
Burgundymog  Offline
Talk Morgan Addict

Joined: May 2014
Posts: 3,721
Essex
I have just sold my KTM bike to someone in Devon, he offered to send a deposit to secure until the end of the lockdown. I am happy that he offered but will wait until he can collect.


Keith
2013 narrow bodied + 4 Ruby.
Re: Selling a Morgan in lockdown [Re: M3W55] #684165
20/01/21 10:43 AM
20/01/21 10:43 AM
Joined: Dec 2009
Posts: 26,712
Devonshire
+8Rich Offline
Member of the Inner Circle
+8Rich  Offline
Member of the Inner Circle

Joined: Dec 2009
Posts: 26,712
Devonshire
We bought and sold a couple of cars in a similar manner during lockdown (end of March) the new one being delivered by VAG from Lancaster, we exchanged virtual money on the drive in both transactions to different parties it all worked well when selling Heathers both involving 10% deposits.

Trust and the feelings you get are your best guide, anyone committing to 10% I think you'll find will be genuine and I think your last line tends to confirm that.

Good Luck, looking forward to hearing about and seeing your new acquisition it's going to be big FUN thumbs


Regards Richard

1999 Indigo Blue +8
2009 4/4 Sport Green prev
1994 Connaught Green +8 prev





Re: Selling a Morgan in lockdown [Re: M3W55] #684174
20/01/21 11:25 AM
20/01/21 11:25 AM
Joined: Aug 2020
Posts: 316
Lytham St Annes, Lancashire
J
JohnHarris Offline
Learner Plates Off!
JohnHarris  Offline
Learner Plates Off!
J

Joined: Aug 2020
Posts: 316
Lytham St Annes, Lancashire
When selling a car its always worth considering including a Romalpa clause in the contract. A retention of title clause (also called a Romalpa clause in some jurisdictions) is a provision in a contract for the sale of goods that the title to the goods remains vested in the seller until the buyer fulfils certain obligations (usually payment of the purchase price). I usually stipulate that tittle to the vehicle only passes from the seller to the buyer when the seller receives cleared funds in their bank account or words to that effect.

regards


John
2008 Roadster 4 seater FELIX
prev 2006 4/4 70th LOKI
prev 1977 4/4 SEAMUS
prev 1985 4/4 MOLLY
Re: Selling a Morgan in lockdown [Re: M3W55] #684175
20/01/21 11:25 AM
20/01/21 11:25 AM
Joined: Jan 2007
Posts: 1,744
A
aerotaff Offline
Talk Morgan Enthusiast
aerotaff  Offline
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A

Joined: Jan 2007
Posts: 1,744
You are allowed to take your car for an MOT car service and repair. You can also buy a new car from a garage and pick it up but your not allowed to browse for a car. Buying a new car 200 miles away might be a stretch and is a grey area. As mentioned a 10% deposit seems very fair......Em

Re: Selling a Morgan in lockdown [Re: M3W55] #684183
20/01/21 12:08 PM
20/01/21 12:08 PM
Joined: Jul 2007
Posts: 19,123
Suffolk
John V6 Offline
Member of the Inner Circle
John V6  Offline
Member of the Inner Circle

Joined: Jul 2007
Posts: 19,123
Suffolk
I would also get them on pick up to sign a receipt so you have time & date just in case the a camera catches the car speeding etc.


JohnV6
2006 Indigo Blue Roadster S1
2014 Brooklands Edition Roadster "Brookland's Belle" #5 of 50
Re: Selling a Morgan in lockdown [Re: John V6] #684187
20/01/21 12:12 PM
20/01/21 12:12 PM
Joined: May 2014
Posts: 3,721
Essex
Burgundymog Offline
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Burgundymog  Offline
Talk Morgan Addict

Joined: May 2014
Posts: 3,721
Essex
Originally Posted by John V6
I would also get them on pick up to sign a receipt so you have time & date just in case the a camera catches the car speeding etc.


I believe you can now notify change of ownership to the DVLA on line.


Keith
2013 narrow bodied + 4 Ruby.
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