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Old October 15, 2009, 04:44 AM   #2
JT-AR-MG42
Senior Member
 
Join Date: December 27, 2008
Posts: 555
My guess would be

that it allows the buyer the option of backing out of the sale by simply stopping or disputing payment. I am not a dealer. I have no axe to grind.

No offense to your word or name intended here.

Having the cash on hand, or at least half of it in some cases where you are trusted, gives the dealer or seller an extra feeling of security that you do indeed intend to follow the three month process through.

If you talk to some dealers, they might have had experience with buyers who back out during the wait especially when 50% was all that was put up. Some of the reasons are good ( family illness ). But the end result is that the buyer broke his word on a sale.

Flat out, the income you put up needs to be truely disposable. I set aside the cash ( as I save it ) in the safe, and pray something more immediately interesting does not come along in the meantime.

My take, JT
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