really if you think about it its a paper version of a deposit...

usually you give the seller $500 (or whatever) to hold the car until you get finance.

I myself usually say I will hold the car for you for xx days but you have to give me $200 deposit so I wont sell the car in the mean time. That way he has an interest to go back to you and not just get cold feet and leave you in the lurch. He could push it to the 20th day and say "nah I couldnt get finance... sorry" and then he has bolted. In that time you could have had 3 offers on your car for the original $38k you asked for and the people could have had cash in their pockets!

I wouldnt accept the letter and tell him "you give me a non-refundable deposit and I'll hold the car for you".



For interest... what other tyres have you got on the car already?

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Dyno queen