[njsteve]

The lesson is this: whenever you think you have a deal make darn sure you leave a deposit with the seller, no matter what the person says about holding it for you. Just tell them that you feel better about it and that they can do whatever they like with the deposit, hold it, cash it, deposit it, whatever, but at least you have more than someone's word they'll hold it for you.

To most laymen out there, they consider themselves contractually obligated to sell the car to someone if they have $$$ in hand, anything else and they feel they can change their mind.

Sadly, these days, a person's word is worth as much as the paper it's written on. With very few exceptions, the days of a handshake deal are long gone.