G'day everyone,

Yes I know its a very sad day for me but its time that I must depart from my beloved car. I'll try to explain this in the most basic way possible so bear with me.

I have a buyer from another state who is genuinely interested in the car and already put down a deposit for it. He too is busy and will NOT be coming to see the car therefore I cannot meet him which makes me a little suspicious.

This is my plan of attack:

1) I will send him my registration paper as well as a hand written receipt. He will then sign it and send it back to me. I also requested that he scan a copy of his drivers license to confirm that the address he gave me is legitimate.

2) Once I receive the signed papers, he has requested that the car be sent to a car depot that he has booked and nominated. As soon as the car arrives he wants the car depot to call him to confirm this and it is then that he will transfer the money over.

I have absolutely no problem with the 2nd point but what concerns me is the fact that I cannot stop the car from leaving the depot regardless of whether I still technically own the car, but most importantly that money has not been transferred yet. This is simply because I was not the person making the booking so I have no control. The last thing I want is the car leaving the same day as it was dropped off.

For peace of mind I was thinking that the car should be dropped off and it should sit there for a minimum of 2 days before it leaves, which should allow sufficient time for the money to clear.

Basically I don't want to get scammed with someone driving off with my car for the price of a deposit to say the least although the guy does sound very genuine, I still can't the risk so any advice will be appreciated.

 

I have no idea how common this may be in Australia, but in the US fraudulent cashier's checks (possibly called bank drafts in your neck of the woods) are very common - and in many cases funds may get transferred to your bank account in one or two days only to be removed a week or so later when the check is discovered to be bogus. In other words, two days is not enough. You need some sort of escrow service.

 

dont go for it, its a scam if he wants it have him come pick it up and look at it, but you may do it different in australial just make sure you go through all the steps

 

Not a good way to do it. Your next thread may read my car was delivered and the check was no good.......unless it's some form of escrow company where the car remains till both parties are satisfied the other is trying to rip the other off is your best bet. He doesn't take possession of the car till the checks cleared and you don't take possession of the actual money till the new owner says it's a deal.

 

Its a scam, in more ways than one.

People dont generally buy cars without test driving them, let alone not even SEEING it. The only people that i know of that do this are dealers, or people who buy cars at auctions. If this is the case for him, ask to see a dealer license for proof. I doubt he has that.

If i were you, id call the depot, ask them if in fact you can have the car sit there (even if you have to pay storage, at least it will be a peace of mind it will be legit), then confirm that he sees it, and you can get the full amount of your money and seal the deal afterwards.

OR, have him pay you IN FULL first before you do any movement with the car. Its a long shot from his point of view because he (if he is legit) will probably think the same as you on scamming him.

But my suggestion, dont even deal with this guy, if he cant even come to see the car, i highly doubt this is legit.

 

I did a lot of checking on this issue when I purchased my car a few weeks ago. Most banks here in the US, have several ways that you can verify the authenticity of the check. The draft is actually on the bank itself and not the individual. You can call the issuing bank, give them the check number, date, and amount and they can tell you if it is legit or not. The check will also have a perfed edge to it. You can also call the actual branch that issued the check and talk to the manager. They have records of the checks they issued.

Here in the US, the only way that a bank can stop payment on one of it's own cashiers check is in the case of a lost or stolen check. I know that my bank will not issue a new check in the case of a lost one for 30 days after it was issued. This allows plenty of time for the check to clear if the legitimate recipient deposits it.

Hope this helps.

 

Thanks for all the input guys.

1) The guy is actually paying me through a bank transfer NOT a bank cheque or whatever means. One of the things I said to him was if he can get the bank to call me to confirm that this transfer as soon as it happens.

Note: He has paid a deposit and on my bank statement, it does show that it came from the buyers own account, i.e the name he gave me is what is shown on my statement.

2) Is there any way a bank transfer can be made to your account only to be removed from your account a week later for example"?

Just an update, I was speaking to him earlier today and he said obviously one of us has to give in, i.e the car first or the money first and he said he doesn't mind sending the money first.

 

As far as I know, a bank transfer is generally instant and non-reversible. Glad you guys have things worked out though.

 

Personally, I would never do bank transfer... especially if you have to give your account information.

I would ask them to send you a cashier's check from the bank he banks with and then call his/her bank to verify that the cashier's check is good. Bogus cashier's check usually happens because the seller never checks to see if its real.. This way, your personal account information isn't given... nor the buyer's.

 

I tend to agree about the bank account information. This is probably a very legit buyer but it doesn't hurt to be cautious. Think of it this way, how many times have you been approach by somebody from Ethiopia asking to get your bank account info so they can send you money?

I still think that it makes more sense to do the transaction in person. When I bought my FD, I took a cashiers check with me when I checked out the car. I gave him the check and watched him as his bank made out another cashiers check to his lender who held the paper on the car. We then drove to the post office where I watched him post the cashiers check registered mail to his lender. I would think that the buyer would be able to come out and see the car, buy the car, and take it to the shipping depot themselves. Both of you would feel assured in the transaction.

 

When I bought my 8, thats pretty much what I did David Hays.

If the seller had a loan on the car, like when I bought my 8, I asked him how much and got a cashier's check made out to his lender (for payoff). I then sent the scan copy to the seller for his verification and when I went to pick up the car, I went with him to the post office to see the check leave.

I hate to be so cautious but these days, you never know.. also this reassure him of my payment... its goes both ways.

 

Tricky situation. Why dont you hire a truck and offer to drop it off on the weekend? Its quite alot of money, taking a few days off work to go and sell your ride would be a good idea. Where in aus is the buyer?

 

Its not neccessarily a scam... but in my opinion... its very odd for someone to buy a car without actually seeing it before hand... I personally would not sell it without the buyer seeing it. If the buyer is that interested, he should come over and see it... but then again, if his already gave you a deposit without seeing it, and guessing with a compression test.. it seems he wants it. BUT, make sure the money changes hands before he has access to the car... just to be safe...

 

I agree it may not be a scam, but I would definitely be very cautious. There is no way I would let my car out of my possession without having the money first...and that includes sending to a depot. Hell, the depot may not be legit or he may be in cahoots with someone who works there.

There seems to be a debate about the cashier's check vs wire transfer. A very close friend of mine received a legitimate cashier's check for his last car that he sold. I don't remember the circumstances as to why the check was stopped, but after he deposited it the issuing bank (I think it was Capital One) decided to stop payment. I think there was a verification issue with the title...it all worked out in the end and he got his money--but this was a huge learning lesson for me (& him). I had no idea once a valid cashier's check was deposited that the issuing bank could later put a stop payment and your bank will pull the money out of your account. I thought if it was a real check, it was the same as cash but it's not. Turns out you can still be screwed with receiving a real cashier's check.

I would highly suggest using an escrow service...this benefits both you and the buyer. You can be assured you will receive your money, and he can be assured he will get the car he has paid for.

When I bought my FD in September I bought it off Ebay and did a wire transfer. It was sight unseen, however I looked into the seller and felt he was legit (he also gave a guarantee that the car was everything he said it was) PLUS ebay gives a guarantee that the car you're buying is not misrepresented. Of course mine had less than 9,000 miles and I had a local rotary expert check out the car after I rec'd it.

All that said, it's possible this is legit, but you should still make sure you are not in a position to get screwed in case it's not.

Use an escrow service, since you're the seller and if you are open to using it there is really no reason the buyer would want to avoid an escrow service...there is no downside for him--unless he's trying to pull something fishy.

 

If you're selling something and receiving payment by wire transfer, it's nearly impossible to get screwed out of the cash. As long as the incoming account information matches the name of the person you're selling to, there's practically no way anything can go wrong. With the information you give them, they can't take anything out of your account, it's only so that they can send to you. Once it's sent, it's sent, nobody is taking it out. That's why a lot of the scammers on ebay for cars and motorcycles want instant bank transfers instead of paypal, cashier's checks, etc. etc. So when they have the money, that's it, you're screwed.

 

Unless this dude has stolen someones identity and made an ID with a falso picture.

Don't flame me on this one. I have seen it. Then they just take the car and drive it untill they get caught. Since all the transactions ocvcured under the actual account owners name, it is harder to track who actually did the falsified transaction.

I have gone into my bank and wired in upwards of 5 grand.. and all they did was ask to seemy ID... didnt even look at my face... and then had me sign a little slip of paper. Each person is just another transaction to a $12/hour bank teller.