Motoring Discussion > Used car purchase - amount of deposit Buying / Selling
Thread Author: hjd Replies: 7
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New Tue 16 Nov 10 10:25 
 Used car purchase - amount of deposit - hjd
My son is going with a friend to look at a car which the friend would like to buy. The car is listed at £2,000. If he likes the car, what is a reasonable amount to pay as a deposit? He would aim to complete the purchase in under a week. My son thinks this is a private seller.
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New Tue 16 Nov 10 10:31 
 Used car purchase - amount of deposit - Zero
10% if under 5 grand 5% if over 10 grand

So in your case? 200 quid.

Don't put it down tho if you are not sure.
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New Tue 16 Nov 10 10:40 
 Used car purchase - amount of deposit - Fenlander
Best to get cash and insurance in place first and go for the killer deal. I never ever leave deposits.
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New Tue 16 Nov 10 10:57 
 Used car purchase - amount of deposit - movilogo
Amount of deposit is totally based on negotiation.
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New Tue 16 Nov 10 12:18 
 Used car purchase - amount of deposit - Robin O'Reliant
I've only ever put a tenner deposit on a private sale used car as a show of good faith. I'd be wary of serious money in case the seller done one.
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New Tue 16 Nov 10 12:22 
 Used car purchase - amount of deposit - Chris S
>> I've only ever put a tenner deposit on a private sale used car as a
>> show of good faith.
>>

Have you bought a used car since the 1970's? Most sellers won't accept anything less than a £100.
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New Tue 16 Nov 10 12:38 
 Used car purchase - amount of deposit - Skoda
Surely a deposit is just asking for trouble, inviting it?

For £1.5k or less, i'd take the asking price along, for over that i'd take nothing along and give the seller a run to the bank and exchange freshly drawn monies in there.

If he's worried about being mugged or caught out in a bad bit of town while negotiating, do the deal in the bank.
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New Tue 16 Nov 10 13:11 
 Used car purchase - amount of deposit - Bellboy
£100 is realistic then if buyer decides not to proceed because they cant raise all the funds or the insurance turns out to be too much then its a nice little free drink for the seller

innit...............
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