Advice and/or opinions needed

[Henro]

First at least the guy way honest with you to the extent that he told you he bought another tractor. He could have made up a line about a sick wife, an illness or whatever. That counts for something in my eyes (not sure what, but it is more positive than negative...)

You had the use of his $500 for the the time you held the tractor, so your lost opportunity cost was $1,500. So you lost 25% less that it first seemed...

I would think about how much I actually lost over the period and send him back something if there was something left.

The idea of giving him a credit for what you keep, on a purchase amounting to a total that is ten times more than you keep is interesting and you will probably never have to act of that offer. Time bound it though..."if purchased during 2004" or whenever.

Things happen in life. How can we know if he was actively looking for a tractor and stringing you along, or if something just fell out of the ebay sky that he felt he could not pass up? Maybe he bid on it thinking he would never get it anyway for that price, and now has it.

In the end, if you treat him the way you would want to be treated in the same situation, you will probably satisfy yourself the most.

Let us know what you decide! /forums/images/graemlins/smile.gif

 

[normde2001]

I think "BillG" answered it best. I would let him know that you passed up several chances to sell the tractor while holding his deposit, and after it sells, send him $250. A dealer never wants to make enemies, if avoidable.

 

[Charlie_in_TX]

I say keep it. Offer him 'instore' credit for the full $500.

 

[dancce]

Thanks to everyone for the responses!! I appreciate all of them, and believe me, most all them crossed my mind.
What I did ---before I read all your excellent ideas--is just what Bill suggested---offered to send him the $250 after I sell the tractor. He seems like a pretty good guy and is sincere---just prone to changing his mind. (We have e-mailed several times and talked on the phone a couple of times.)
Bottom line for my decision----What would I feel is fair if the roles were reversed. I try to make most one-on-one decisions this way.
Thanks again for all the responses.

To MikeMc in Oklahoma----it is a late model 1951 8N Ford---and yes, you need to take it off my hands /forums/images/graemlins/grin.gif
Iwould post a picture but the file sizes are too large for this forum. You can see it on our web site---see profile.

dancce

 

[MDNY]

I would check the local laws to protect you and your dealership. The buyer has to understand that he has cost you money and entered into an agreement in good faith. Splitting the deposit would seem fair only if you can sell the tractor quickly and recoup your continued losses with it being off the market for several months.

 

[carluman]

Dan,

That sounds like a very good way to do it. I can't think of a better way. This would allow you to keep the full amount incase you end up having to drop the price plus incure extra exspense in selling it.

Have a great one
Carl

 

[sweettractors]

dancce--How many "on the lot" presentations and phone calls received, did you have invested in trying to make the initial $2000 sale on this particular unit? How much of you or your sales staff total worktime did this take?--Ken Sweet
Sweet Farm Equipment LLC *New 5 ft First Choice Double Action Hydraulic Sickle Bar Mowers*