Selling my car, bank transfer worries.

Selling my car, bank transfer worries.

Author
Discussion

m10johnson

Original Poster:

723 posts

175 months

Monday 27th October 2014
quotequote all
Firstly, I wasn't sure what section to place this thread, so apologies if it is in the wrong place.

I am currently in the process of selling my car. Someone from the North (I live in Cambridge) has offered to buy my car via bank transfer and get an agent to collect the car on his behalf. I just have some concerns as I have not come across this personally and obviously I am worried of being scammed. One thought is once payment is cleared into my bank account, is that I can transfer it into another account, so the payment cannot be reversed.

Any information and advice greatly appreciated.

Sarnie

8,025 posts

208 months

Monday 27th October 2014
quotequote all
Agent??????

Have you spoke to them on the phone??

Simpo Two

85,147 posts

264 months

Monday 27th October 2014
quotequote all
Would you buy a car from 150 miles away without seeing it?

Nope.

Therefore run away.



'Agent' Arrooyah dive dive dive

oldcynic

2,166 posts

160 months

Monday 27th October 2014
quotequote all
These things do actually happen in real life, however in most cases "my agent will collect" gets followed shortly by "I'll transfer the agent's fee into your bank. Please pass it to him in cash" and all communication is by email in broken english. You'll probably also be informed that the bank is closed and they'd rather pay by PayPal.

Tread very carefully

Pit Pony

8,265 posts

120 months

Monday 27th October 2014
quotequote all
I'd be suggesting CASH only. I've never sold a car, unless it was cash. Mind you most cars have been under £2K so hardly a big sum.

m10johnson

Original Poster:

723 posts

175 months

Monday 27th October 2014
quotequote all
oldcynic said:
These things do actually happen in real life, however in most cases "my agent will collect" gets followed shortly by "I'll transfer the agent's fee into your bank. Please pass it to him in cash" and all communication is by email in broken english. You'll probably also be informed that the bank is closed and they'd rather pay by PayPal.

Tread very carefully
There was a mention about an agents fee which confused me. No mention of PayPal as yet and I don't have one anyway.

I am almost tempted not to go ahead with anything.

stevensdrs

3,208 posts

199 months

Monday 27th October 2014
quotequote all
Next step is buyer will transfer you cost of your car and an extra amount to give to the agent as his fee in cash when your car is collected.
about 10 days after your car is collected your bank will recall the money from your account, putting you into debt if the funds have been removed.
You will lose your car, your money and your credit rating if the bank comes after you.

Now ask yourself, is it worth the risk? or will I just hold out for another buyer who comes in person to view your car.

Sarnie

8,025 posts

208 months

Monday 27th October 2014
quotequote all
m10johnson said:
There was a mention about an agents fee which confused me. No mention of PayPal as yet and I don't have one anyway.

I am almost tempted not to go ahead with anything.
Have you spoken to them on the phone??

Ask them for a landline number to call on........also, don't assume that just because the funds show in your account and you move them, that the amount can't be taken back, leaving you hugely overdrawn with bank charges to deal with....

m10johnson

Original Poster:

723 posts

175 months

Monday 27th October 2014
quotequote all
Thanks for all the sound advice. Think I'll stick to cash only and tell this guy to do one.

jonamv8

3,145 posts

165 months

Tuesday 28th October 2014
quotequote all
run run run mate


red_slr

17,122 posts

188 months

Tuesday 28th October 2014
quotequote all
Classic scam.

hedgefinder

3,418 posts

169 months

Tuesday 28th October 2014
quotequote all
Simpo Two said:
Would you buy a car from 150 miles away without seeing it?

Nope.

Therefore run away.



'Agent' Arrooyah dive dive dive
I used to regularly buy cars from the other side of the planet without seeing them..
but admittedly in this case it sounds like classic scammer speak...

KTF

9,788 posts

149 months

Wednesday 29th October 2014
quotequote all
Out of interest, what transfer method were they proposing to use?

illmonkey

18,111 posts

197 months

Wednesday 29th October 2014
quotequote all
Did someone just listen to advise on this forum?

fk offff!!!

Old Merc

3,486 posts

166 months

Wednesday 29th October 2014
quotequote all
I had the same thing when advertising my classic,the "Agent Scam".All they are after is the agent fee.
Normally you are "Paid" via PayPal(or you think you are) the full asking price + an extra sum for the agent,so you think you have even more money.
Just before collection you are asked to pay the "Agent" up front and you do so from your normal bank account.The car is never collected but you have lost the £500-£1000 agent fee.All the e-mails from PayPal and other invoices etc were fake.


KTF

9,788 posts

149 months

Wednesday 29th October 2014
quotequote all
Old Merc said:
All the e-mails from PayPal and other invoices etc were fake.

I still cant believe that people fall for this without checking their paypal account first. When people have paid me money in the past I always check it on paypal then shuffle it off to my bank account rather than just rely on some random email that they send.

Esseesse

8,969 posts

207 months

Thursday 30th October 2014
quotequote all
OP, if you cut and paste the email into Google, you'll probably find the same scam mentioned word for word many many times.

Hoofy

76,253 posts

281 months

Thursday 30th October 2014
quotequote all
Doubt there's an agent. Doubt anyone will collect the car. You will lose several hundred and the bank transfer will be found to be fake. They will do it by paying a banker's draft into the bank and transferring that over the counter. The draft is a fake. It will either be over the agreed amount or include the agent's fees - in any case, money will move from your account to theirs. The bank will realise this about 3 months down the line, after you've paid something and you'll lose some money.

illmonkey

18,111 posts

197 months

Thursday 30th October 2014
quotequote all
I had this email about my care recently:

Hi, I'll like to know the present condition as I won't be available to inspect it as I'm just recovering from surgery so I'm homebound, why do you need to sell it ? Any accident history?

I went with it, to see what con they were going for. Paypal.

Yea, what ever.

Esseesse

8,969 posts

207 months

Thursday 30th October 2014
quotequote all
illmonkey said:
I had this email about my care recently:

Hi, I'll like to know the present condition as I won't be available to inspect it as I'm just recovering from surgery so I'm homebound, why do you need to sell it ? Any accident history?

I went with it, to see what con they were going for. Paypal.

Yea, what ever.
Ask why they need a car if they're homebound.