Sunday, September 5, 2010

selling cars (or what ever stuff) - HOW TO

I am trying to sell one of my friend's car. Advertised in mudah.my and within two or three days, many people called/sms'ed and ask to view the car. Here is the chronology:
1st day: a potential buyer called and ask for appointment on that night. To be precise, that 12 midnight. He bought along 3 of his friends together. After inspection and negotiation, the buyer really wants the car, but I didn't take deposit as I want him to think before decide. Waited until the next day for confirmation/deposit from this guy. By the same time, got a couple of sms inquiring the car.
2nd day: We ask for deposit, and the buyer said he will come on the 3rd day and bring cash to settle everything. I agreed. Also got many calls and sms'es, but politely I asked them to hold on, as a transaction in on the way.
3rd day: The guy called, and ask for another day, as he is unable to go to KL (he is from ipoh). His excuse is 'no transport' - and I started to think is this buyer genuine or not. If really want the car, just get on a bus/taxi and make the deal. So I sms/call all potential buyer, saying that the car is back on sale. Immediately, got a buyer called and ask for appointment. He went to see the car that night, and interested and wants to buy. This time, will make a loan to bank. I send sms'ed to all saying that the car is currently 'blocked'
4th day: Loan didn't approved. Buyer asked for loan on my side, rm400 per month. Sorry I can't do that. Back on sale again. That night, 2 buyers want to come and see the car at the same time. 1st buyer came 30 minutes earlier. Both also want the car. But need to prioritize based on 1st come 1st served. So, the first buyer get the option to buy the car.
5th day: Another 2 buyers want to see the car, but I need to explained to them, that 2 buyers already in the que, and they understand but still they want to see the car, as it is Saturday. I believe because on weekdays, not many people are able to go here and there, as they got other things to do i.e work, family etc. These 2 buyers also interested and want to get in que. I even asked the first buyer to come and pay deposit rm3000. He did and told us that he wanted to apply loan. I really questioned him whether his loan can be approved or not, as 10 years old or more car, not entitled to get loan, even credit loan.
6th day: Sunday
7th day: Loan didn't approved!!!! My partner suggested we return back 100% of his deposit. and I agreed. Called 2nd potential buyer, he said already bought another car. 3rd guy seems lost interest already......
days after that: many call and sms asking the car, but nobody come to us to see the car, until 31 august....... a guy with his friend came and inspect the car. Agreed with condition of the car, price and what so ever. Unfortunately, I need to go outstation for 2 days to Johor Bahru. They even said ' Please dont sell to others, and as u get back to KL, call us and we would like to inspect with our foreman.' They also asked me to drive the car to their foreman's place. and guess what, i did agreed!!!
2nd august: sms'ed the buyer that I had arrived in KL and would like to meet up at their foreman's place. No reply
3rd august: call the buyer, didn't answer. call the friend of his, didn't answer also. but after some time, his friend called, and said 'we were in a meeting, and will ask my friend regarding the car'. Bull, no answer, until today.

Morale of the story, get deposit, or cash buyer if you know the car is not able to get loan. and take some from the deposit, to compensate the loss that we had. with that money, we can advertise with lower price and give discounts for other buyer.