Buyer has paid finance off but disappeared
Discussion
Snollygoster said:
Now if it were a case of just your initial post, okay, I can semi accept the matter. But what I can't accept is then selling the car to WBAC on the buyers behalf and giving the guy money. WHO DOES THAT? It just doesn't make any sense.
Quite. If it looks like a duck, etc.Roo said:
He'll be fine.
It's impossible to make a fraudulent CHAPs payment.
That is so, so wrong. It's impossible to make a fraudulent CHAPs payment.
If I log into your account and pay it from there, and then you spot it and report it to the bank (and this can be months later) the bank will be obliged to return your money and recall the CHAPS payment too, which then leaves the finance company with no money.
They will then come after the account holder.
This would then be a police matter.
kevpip said:
Hi everyone. I appreciate not everyone believes my situation so i'll keep this one brief for those of you who wish to know what is happening.
Spoke to mystery man this afternoon and he has was shocked that wbac as well as the main dealer gave a quote as low and wanted confirmation that i had explored all options before selling. He has accepted the situation and sent me his bank details. I am in the process of transferring him the money.
Unfortunately this will be my last post on here as it's turned ugly. Thank you to everyone who has given me advice, most of which i have taken. I do appreciate it.
For those who are interested the car was a Nissan 370z. I didn't disclose the car on here sooner as i was concerned of the abuse i may receive from people such as those currently giving me abuse.
Thanks again to those who have helped me. If anything ever does come back to me i shall let you know as no doubt there will be others in a similar position.
You are a moron.Spoke to mystery man this afternoon and he has was shocked that wbac as well as the main dealer gave a quote as low and wanted confirmation that i had explored all options before selling. He has accepted the situation and sent me his bank details. I am in the process of transferring him the money.
Unfortunately this will be my last post on here as it's turned ugly. Thank you to everyone who has given me advice, most of which i have taken. I do appreciate it.
For those who are interested the car was a Nissan 370z. I didn't disclose the car on here sooner as i was concerned of the abuse i may receive from people such as those currently giving me abuse.
Thanks again to those who have helped me. If anything ever does come back to me i shall let you know as no doubt there will be others in a similar position.
You've come on here, asked for advice and been given GREAT advice as a result. Now you're going to be on the hook to the finance company when they find the original transaction was fraudulent (your letter from them means f
k-all) and your scammer has waltzed off into the sunset counting your money.It's true what they say about a fool and his money, clearly.
What you need to do is sit on the money from WBAC. If the 'buyer' was genuine, he'll come after you and take you to court. If he's not, you'll never hear from him again and you'll know it was a scam. Sitting on the cash will not hurt you at this stage. DO NOT TRANSFER THAT MONEY.
Edited by Funk on Tuesday 21st October 08:45
I think and im calling bullst on most of the story. By the looks of it he has sold the car to WBAC hence it was still showing up as financed 17 days later after it was meant to be paid off.
Somebody who asks for advice then proceeds against all advice given. He has been told many times not to give the buyer any money and seek legal advice but would rather sit with a letter from a person in a finance company thinking they wont come after me. Well if it is true and you have been scammed Kev there will be a phone call or letter sometime down the line asking for the 15k back.
I know you said you are not posting again but can you just say whether you had legal advice or not?
t on most of the story. By the looks of it he has sold the car to WBAC hence it was still showing up as financed 17 days later after it was meant to be paid off. Somebody who asks for advice then proceeds against all advice given. He has been told many times not to give the buyer any money and seek legal advice but would rather sit with a letter from a person in a finance company thinking they wont come after me. Well if it is true and you have been scammed Kev there will be a phone call or letter sometime down the line asking for the 15k back.
I know you said you are not posting again but can you just say whether you had legal advice or not?
The bit I find hard to believe is that the other person said he would take the hit on the difference, said he would sell as close to the original price as possible.
So OP accepts this and instead of making any effort to minimise the loss, simply thinks fk the other person and sells it cheap to WBAC, as its not him losing the money on the sale now.
£22k and OP has effectively taking 16% off the price for the quickest sale OP can do.
Other person has accepted this... Thats the bit the gets me, If there wasn't something that smelt fishy here, I certainly would not accept that kind of loss if I were genuine.
BS or the OP is about to be on the hook for it all and has no car.
So OP accepts this and instead of making any effort to minimise the loss, simply thinks f
k the other person and sells it cheap to WBAC, as its not him losing the money on the sale now.£22k and OP has effectively taking 16% off the price for the quickest sale OP can do.
Other person has accepted this... Thats the bit the gets me, If there wasn't something that smelt fishy here, I certainly would not accept that kind of loss if I were genuine.
BS or the OP is about to be on the hook for it all and has no car.
The OP informed his finance company on several occasions that he suspected the funds used could potentially be fraudulent (should be telephone records of these conversations), got it escalated to the fraud department who have told him several times that they have no interest in the car anymore and even if it did turn out to be fraud, couldn't come back to him. He has this in writing also (supposedly)
Surely this gives him a strong defence should what sounds like the almost inevitable happens and the finance company lose the £15k?
Surely this gives him a strong defence should what sounds like the almost inevitable happens and the finance company lose the £15k?
GregK2 said:
The OP informed his finance company on several occasions that he suspected the funds used could potentially be fraudulent (should be telephone records of these conversations), got it escalated to the fraud department who have told him several times that they have no interest in the car anymore and even if it did turn out to be fraud, couldn't come back to him. He has this in writing also (supposedly)
Surely this gives him a strong defence should what sounds like the almost inevitable happens and the finance company lose the £15k?
Thats going to go the way of... 'Sorry the person who sent the letter didn't have authority to give you that letter, you still owe £15k as the transaction was fraudulent'.Surely this gives him a strong defence should what sounds like the almost inevitable happens and the finance company lose the £15k?
OK so where we at... if I am on the right page!
OP "sells" car to Mr X via the phone - but keeps hold of the car as Mr X wants to pay in 2 parts. £15k then £7k.
Car is on finance so Mr X makes payment to finance company = £15k. At this time we suspect with a stolen card.
Finance company confirm payment has arrived and the loan is cleared.
OP then struggles to contact Mr X for a while.
After some time Mr X makes contact and says he needs to back out and get his £15k back.
Money is already with finance company, so suggestion is made sell the car to WBAC and Mr X takes the hit on the lower price.
OP then takes his £7k and sends Mr X the balance.
If Mr X is not genuine (which lets face it as the OP has ever met him he may well not be) then he has now got himself the balance in "clean" money.
The finance company will be down £15k. The OP will be evens.
So the real loser here is the finance house?
OP "sells" car to Mr X via the phone - but keeps hold of the car as Mr X wants to pay in 2 parts. £15k then £7k.
Car is on finance so Mr X makes payment to finance company = £15k. At this time we suspect with a stolen card.
Finance company confirm payment has arrived and the loan is cleared.
OP then struggles to contact Mr X for a while.
After some time Mr X makes contact and says he needs to back out and get his £15k back.
Money is already with finance company, so suggestion is made sell the car to WBAC and Mr X takes the hit on the lower price.
OP then takes his £7k and sends Mr X the balance.
If Mr X is not genuine (which lets face it as the OP has ever met him he may well not be) then he has now got himself the balance in "clean" money.
The finance company will be down £15k. The OP will be evens.
So the real loser here is the finance house?
red_slr said:
OK so where we at... if I am on the right page!
OP "sells" car to Mr X via the phone - but keeps hold of the car as Mr X wants to pay in 2 parts. £15k then £7k.
Car is on finance so Mr X makes payment to finance company = £15k. At this time we suspect with a stolen card.
Finance company confirm payment has arrived and the loan is cleared.
OP then struggles to contact Mr X for a while.
After some time Mr X makes contact and says he needs to back out and get his £15k back.
Money is already with finance company, so suggestion is made sell the car to WBAC and Mr X takes the hit on the lower price.
OP then takes his £7k and sends Mr X the balance.
If Mr X is not genuine (which lets face it as the OP has ever met him he may well not be) then he has now got himself the balance in "clean" money.
The finance company will be down £15k. The OP will be evens.
So the real loser here is the finance house?
Finance house rarely ever lose... if the money is fraudulent then they pay it back and OP is still owing £15kOP "sells" car to Mr X via the phone - but keeps hold of the car as Mr X wants to pay in 2 parts. £15k then £7k.
Car is on finance so Mr X makes payment to finance company = £15k. At this time we suspect with a stolen card.
Finance company confirm payment has arrived and the loan is cleared.
OP then struggles to contact Mr X for a while.
After some time Mr X makes contact and says he needs to back out and get his £15k back.
Money is already with finance company, so suggestion is made sell the car to WBAC and Mr X takes the hit on the lower price.
OP then takes his £7k and sends Mr X the balance.
If Mr X is not genuine (which lets face it as the OP has ever met him he may well not be) then he has now got himself the balance in "clean" money.
The finance company will be down £15k. The OP will be evens.
So the real loser here is the finance house?
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