Buyer has paid finance off but disappeared
Discussion
Magog said:
Ved said:
Magog said:
Did anyone else scroll through the Facebook friends and notice one or two worked for Haymarket...
I don't follow. Does this have any relevance?andyps said:
Makes a great advert for We Buy Any Car. I might just pitch the idea to them!
Silver Smudger said:
Magog said:
Ved said:
Magog said:
Did anyone else scroll through the Facebook friends and notice one or two worked for Haymarket...
I don't follow. Does this have any relevance?andyps said:
Makes a great advert for We Buy Any Car. I might just pitch the idea to them!
andyps said:
Silver Smudger said:
Magog said:
Ved said:
Magog said:
Did anyone else scroll through the Facebook friends and notice one or two worked for Haymarket...
I don't follow. Does this have any relevance?andyps said:
Makes a great advert for We Buy Any Car. I might just pitch the idea to them!
Well, it's as plausible as the rest of it I suppose.
LukeR94 said:
Magog said:
Ved said:
Magog said:
Did anyone else scroll through the Facebook friends and notice one or two worked for Haymarket...
I don't follow. Does this have any relevance?
andyps said:
Based on all the comments it seems that letting someone else pay off finance is not a sensible option as a seller, but as a buyer expecting the seller to do so is also not sensible. Which basically means if you have finance on a car you can't sell it privately with any degree of safety.
In the case of the OP none of this long discussion would have been relevant had the buyer paid off the finance as he did and then turned up the next day with the remaining cash. The OP would not have been suspicious and nor would anyone else. But for the next 12 months he would be in danger of having a call from the finance company asking for their money back because they didn't check fully the money they received.
This.In the case of the OP none of this long discussion would have been relevant had the buyer paid off the finance as he did and then turned up the next day with the remaining cash. The OP would not have been suspicious and nor would anyone else. But for the next 12 months he would be in danger of having a call from the finance company asking for their money back because they didn't check fully the money they received.
I can't believe that as a seller you could be found liable for outstanding finance 12-months down the line after it was paid off via CHAPS from the buyer that was confirmed and approved by the finance company at the time.
I sold a car that had finance on once.
The safest way I could work out was for the buyer to pay me in cash for the full amount. I took it straight to my bank with him and paid it in. Money is then safe and has no come back against me.
We then went back to my house where I called the finance company and paid the balance off in full. He checked the number i dialled against the website for the finance co. I then gave them permission to speak to him and confirm that the balance had been paid and there was nothing outstanding.
I don't know why anyone would do differently?
The safest way I could work out was for the buyer to pay me in cash for the full amount. I took it straight to my bank with him and paid it in. Money is then safe and has no come back against me.
We then went back to my house where I called the finance company and paid the balance off in full. He checked the number i dialled against the website for the finance co. I then gave them permission to speak to him and confirm that the balance had been paid and there was nothing outstanding.
I don't know why anyone would do differently?
Open question - I don't think it can be recalled....
http://www.paymentscouncil.org.uk/payment_advice/k...
http://www.chapsco.co.uk/about_chaps/who_uses_the_...
CHAPS payments take place on the same day, and are irrevocable once the funds have been transferred, they cannot be recalled.
http://www.paymentscouncil.org.uk/payment_advice/k...
http://www.chapsco.co.uk/about_chaps/who_uses_the_...
CHAPS payments take place on the same day, and are irrevocable once the funds have been transferred, they cannot be recalled.
Sonic said:
This.
I can't believe that as a seller you could be found liable for outstanding finance 12-months down the line after it was paid off via CHAPS from the buyer that was confirmed and approved by the finance company at the time.
The difference is, if someone just paid your finance off, picked up the car, job done, you wouldn't really think anything of it. I can't believe that as a seller you could be found liable for outstanding finance 12-months down the line after it was paid off via CHAPS from the buyer that was confirmed and approved by the finance company at the time.
The fact the OP has openly on a public forum thought that this could be a scam, and has still continued with the sale purely off the back of his finance company saying there's no interest in the car anymore. I don't know the regulation for a private individual, but surely under the proceeds of crime act this should have been reported as suspected money laundering.
I would argue the OP has acted with negligence, thus could be liable.
I'm sure if any of sold a car and the finance was unknowingly paid off done fraudulently, we would all come under scrutiny. But the fact the OP has since sold the car a second time himself, and given the guy money just makes it all sound so dodgy.
Sheepshanks said:
Down massively. Would take more than a few planted threads to make a noticeable difference though.
Without a shadow of don't, posts are hugely down on the past yet is easily solved. Tell the mods to loosen up and allow people to be themselves, how it was when Garlick was around.
Fun, irreverent, a bit rude, very very funny and the odd bit of controversy. Unless they do, numbers will continue to fall.
5678 said:
I sold a car that had finance on once.
The safest way I could work out was for the buyer to pay me in cash for the full amount. I took it straight to my bank with him and paid it in. Money is then safe and has no come back against me.
We then went back to my house where I called the finance company and paid the balance off in full. He checked the number i dialled against the website for the finance co. I then gave them permission to speak to him and confirm that the balance had been paid and there was nothing outstanding.
I don't know why anyone would do differently?
I did this but the buyer wired the funds to to finance company, before collecting the car, after being given permission to talk to them directly.The safest way I could work out was for the buyer to pay me in cash for the full amount. I took it straight to my bank with him and paid it in. Money is then safe and has no come back against me.
We then went back to my house where I called the finance company and paid the balance off in full. He checked the number i dialled against the website for the finance co. I then gave them permission to speak to him and confirm that the balance had been paid and there was nothing outstanding.
I don't know why anyone would do differently?
Still a risk for him I guess but we had met at my house so he knew where I was
garyhun said:
I'm actually surprised anyone is still posting on here. I'm pretty sure the OP is long gone.
Obviously that comment will bring him back now to refute it
Very much this. Obviously that comment will bring him back now to refute it
I just can't help myself coming back here every time it's back on page 1 as I need to know if this was all BS or real. Invested too much time in it.
Vaud said:
Open question - I don't think it can be recalled....
http://www.paymentscouncil.org.uk/payment_advice/k...
http://www.chapsco.co.uk/about_chaps/who_uses_the_...
CHAPS payments take place on the same day, and are irrevocable once the funds have been transferred, they cannot be recalled.
Assuming it wasn't fraudulent or from a hacked/corrupted account.http://www.paymentscouncil.org.uk/payment_advice/k...
http://www.chapsco.co.uk/about_chaps/who_uses_the_...
CHAPS payments take place on the same day, and are irrevocable once the funds have been transferred, they cannot be recalled.
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