Don't Screw Yourself
Posted: February 27 2008 12:16 PM
In the short time I've participated in these forums it has become obvious that a lot of people are allowing themselves to be taken advantage of, sometimes repeatedly. So I thought I would post what I really should have called "Learning to be an Asshole 101."
All variations of the automotive hobby are typically tainted from the very outset by emotion. We all get very emotional about the car(s) we have or want, be it a street rod, vintage car, or other. We start out with very clouded judgment which leaves us very vulnerable to being taken advantage of by con artists, liars, and maybe even just poor businessmen with good intentions. So I'm going to share a set of rules I find works well in keeping me from participating in getting "Screwed."
1. It's my money and I worked for it!
2. Always wait 24 hours before acting on any buy decision that requires more than $500.
3. Investigate the product and/or vendor before committing to buy anything over $500.
4. Never commit to buy without understanding product warranty provisions or having a contract.
5. Never advance money against future performance without a contract.
6. Never advance money for labor exclusively with or without a very clear contract.
7. Never advance money for materials or parts in excess of 50% of the estimated or actual value of materials or parts to be ordered to any contractor or workman. Order yourself and have drop shipped if necessary.
8. When dealing with anyone on the basis of their future performance do a BBB inquiry and credit check. If you cannot order a credit report ask for a list of current vendors they do business with and then give them a call. If they don't want to give you a list of vendors...... forget it! Run away as fast as you can!
9. If at any point of work being in progress things are just not ringing true or it is obvious performance is lagging, it may be time to consider your contract has been breached and time to stop all work and any scheduled payments along with taking possession of any and all materials for which you have paid or supplied. (get lawyer advice before acting in most cases)
In the specific case of buying a street rod whether complete or not make sure you will be conveyed a clear title and/or sufficient documentation which will insure you can register the vehicle in your state. Always check with your State's DMV for inspection and licensing requirements before buying. Many street rods which can be licensed in one State may not be acceptable to your State. If your State is one that considers a Kit car or a car otherwise fabricated from new and/or used components as being of the year completed it may have to meet current emissions testing requirements. Don't let yourself get into a dicey position there is no way out of other than to sell the car to someone in another state. In other words, get passed emotion and be very thorough in doing your homework.
Remember it's your money. Completed street rods don't sell for chicken feed, don't end up with an expensive tribute to stupidity living in your garage.
Lastly, never ever buy a car or street rod site unseen. Never buy a street rod if you are not going to get an engine blue print or sufficient documentation to be able to service and/or repair the car. Again, cast emotion aside. Buying a car of any nature should be strictly business and if something about the deal ain't just exactly right emotion is not going to fix it after the fact. There will always be another car!
There may be valid reasons to deviate from these rules at times, such as a contract constructed to provide for progress payments as work meets defined contractual milestones. Building a street rod may along the way require a change in specifications and even more cash because of the changes. If change requests are not of your own, get a thorough explanation of why they are necessary. Just make sure in all cases your contract is properly amended to reflect those changes, associated costs, and completion date.
Remember it's your money and you are responsible for protecting it and getting value when you spend it. |
