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      07-01-2011, 01:41 PM   #1
Qainuh
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Question Has anyone ever heard of...

Cherry-Motors? If so, what's their reputation like?
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      07-01-2011, 04:40 PM   #2
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If its cherry-motors.com based in West Mids .... their website hasnt been updated since 18th February 2011 so it would seem the online side of their business is not very busy

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      07-02-2011, 06:27 AM   #3
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Thanks UKSTEVENS, yep, same company. They contacted me regarding selling my E92 but never heard of them...checked the website too and noticed it wasn't updated since Feb. They have this deal, where they agree the price of the car with you and add their commission on top. You keep the vehicle, while they market the car to their database of buyers. If the car sells, they pay you the agreed price and keep everything above the agreed price. Never heard of this so wondering if it's a scam.
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      07-02-2011, 08:18 AM   #4
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Sounds like a start-up company tactic. No capital means you need a zero-outlay strategy, but also means no guarantees for them either way. Not the most stable way to run a business...but ultimately they won't be the first dealer to try and find a buyer before they commmit to the car. As long as they have sufficient cash to actually pay you for your car then really it's no different to anyone else buying it.

Guess it depends what you need to sign, if anything, as to whether you have anything to lose or not.
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      07-02-2011, 02:26 PM   #5
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They say there's nothing for me to sign, but I have to agree if they confirm they have a buyer (who would normally pay them a 10% deposit), I can't pull the deal from them and sell to someone else. Not too sure about it to be honest. Trying to figure out how it could be a scam, but they don't take the car until the funds hit my account.
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      07-04-2011, 01:24 AM   #6
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Quote:
Originally Posted by Qainuh View Post
They say there's nothing for me to sign, but I have to agree if they confirm they have a buyer (who would normally pay them a 10% deposit), I can't pull the deal from them and sell to someone else. Not too sure about it to be honest. Trying to figure out how it could be a scam, but they don't take the car until the funds hit my account.
....and that's the crunch. There are LOTS of ways for the funds to hit your account but then magically vanish a few days later. I cannot recall exact details but a short time ago there was a scam going where companies would pay for the car you see the cash in your account so are all happy (after their cheque or draft clears) but then 10 days later you suddenly notice the cash has gone. You ring bank who then explain the cheque was cancelled and apparently they get something stupid like 28 days to legitimately do that even though your account shows the funds. You are then up the proverbial brown creek in your barb wire canoe.

I have no idea if the company you mention are genuine but i personally stick to the old fashioned way of trade in. Yes I know dealer bends me over the barrel but if I can get the right cost to change price then it's usually less hassle for me all round.

If it's too good to be true always is. Terrible cliche but always true.
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      07-04-2011, 03:16 PM   #7
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Interesting... I see your point. I haven't bothered with them because I'm still not comfortable. Tried to avoid dealers as they are trying to get me way over the barrel!!! I have someone lined up (private buyer) but she has been wavering for a week. Think she was expected everything to be shiny and immaculate like a new car.
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