Buyer has paid finance off but disappeared
Discussion
Thanks everyone for your input. Obviously all playing the 'late afternoon work avoidance game too' :-)
I have had 3 missed calls from the buyer today and i am still awaiting the fraud teams call (left them 2 messages via the service person i spoke to).
I text him to say i was in meetings all day and i'll call back. Obviously not interested in talking to him until i have spoken to the fraud team.
First thing tomorrow i am going to contact independent legal advice too.
The dealer where i bought the car from only wishes to give me £17k for the car so you can see selling it privately "should" be the better option...sale price approx 21k.
I have had 3 missed calls from the buyer today and i am still awaiting the fraud teams call (left them 2 messages via the service person i spoke to).
I text him to say i was in meetings all day and i'll call back. Obviously not interested in talking to him until i have spoken to the fraud team.
First thing tomorrow i am going to contact independent legal advice too.
The dealer where i bought the car from only wishes to give me £17k for the car so you can see selling it privately "should" be the better option...sale price approx 21k.
The GMan said:
For this scam to work though it would have to be a quick turnaround. I know this is PH and we all wouldn't notice £15k missing from an account or a credit card, but normal mortals would.
The guy who paid off the finance had been missing for 8 days, when the OP posted this last week.
indeed, that is what stumps me a little. Maybe his 3 missed calls today is a sign he is getting nervous?The guy who paid off the finance had been missing for 8 days, when the OP posted this last week.
Troubleatmill said:
Hang on....
So the buyer who has paid a deposit to you.. is now calling you?
Do you think the buyer is actually a buyer?
Why wouldn't you take the call?
I couldn't take the calls due to work commitments. I really hope he is a genuine buyer but i am not willing to take £15k worth of risk on this one especially when the odds are stacking in the favour of him being a scammer. If he is genuine, he'd happily wait out a few more days, that is on top of the 15 days which have already passed since first contact.So the buyer who has paid a deposit to you.. is now calling you?
Do you think the buyer is actually a buyer?
Why wouldn't you take the call?
Okay the suspense is over...for now at least.
I spoke to my finance fraud team towards the end of last week and they informed me that as far as they are concerned the transaction is legit and they have no interest in the car. I have a letter to state that the finance is settled and this means they are legally unable to come to me to claim the money if it turns out to be fraudulent.
Following that i spoke to mystery man and he is desperate for the money and is willing to accept a few grand loss to get a refund.
We have agreed that i shall be selling to car to a dealer/WBAC and he'll refund me the difference between what we agreed and the deal that dealer/WBAC give me.
I did a quick internet valuation with WBAC and there is about a 3k difference between that and what we have agreed.
So...I sell the car ASAP (i.e. tomorrow) and when the funds are cleared i transfer him £15k (finance) - £3k (diff above) = £12k (rounding for the sake of this post)
So who wins here
Me? - Nope - although i get what we agreed so you could argue i win. I don't have any risk unless he wants cash in a bag under the bridge of a motorway!
Him? - if he is legit, nope. He has lost £3k on the deal. If he is not legit, he is £12k up and one scam extra on his bedpost.
Dealer/WBAC - Seems the only genuine winner here. They get a car for a much reduced price that will be easy to move on and make a tidy profit.
One last thing...He is out of the country until Sunday and not contactable until then.
It's a funny old game but we are getting there.
Tune into tomorrow's episode when Grant Mitchell (if he is still in Eastenders) returns to use the car in an armed robbery of his own pub.
I spoke to my finance fraud team towards the end of last week and they informed me that as far as they are concerned the transaction is legit and they have no interest in the car. I have a letter to state that the finance is settled and this means they are legally unable to come to me to claim the money if it turns out to be fraudulent.
Following that i spoke to mystery man and he is desperate for the money and is willing to accept a few grand loss to get a refund.
We have agreed that i shall be selling to car to a dealer/WBAC and he'll refund me the difference between what we agreed and the deal that dealer/WBAC give me.
I did a quick internet valuation with WBAC and there is about a 3k difference between that and what we have agreed.
So...I sell the car ASAP (i.e. tomorrow) and when the funds are cleared i transfer him £15k (finance) - £3k (diff above) = £12k (rounding for the sake of this post)
So who wins here
Me? - Nope - although i get what we agreed so you could argue i win. I don't have any risk unless he wants cash in a bag under the bridge of a motorway!
Him? - if he is legit, nope. He has lost £3k on the deal. If he is not legit, he is £12k up and one scam extra on his bedpost.
Dealer/WBAC - Seems the only genuine winner here. They get a car for a much reduced price that will be easy to move on and make a tidy profit.
One last thing...He is out of the country until Sunday and not contactable until then.
It's a funny old game but we are getting there.
Tune into tomorrow's episode when Grant Mitchell (if he is still in Eastenders) returns to use the car in an armed robbery of his own pub.
Sorry to leave you in suspense. Had too many shandies at the weekend so have been suffering a bit.
I can't even recall where we are up to on this trail however the car is now sold to wbac. only took 15 minutes of their time. Useful to know although after this i don't think i'll be buying and selling private again. Lease is probably the way forward.
Anyhow, car is gone and buyer is asking to have the money transferred across to his bank account. I have a letter from the finance company stating that they have no financial interest in the car and as far as they are concerned the transaction is legit and won't be sending the boys round if it does go tits up later on.
I'm still concerned but as far as i can work out i am covered if it does come back. I'll just have to shrug my shoulders and choose to believe he is legit and is prepared to take a 3.5k hit to get his money back.
I'll update you once all transactions are complete and we can draw a line under this chapter in our lives. There doesn't look like being any Bruce Willis style explosions to conclude this episode. Probably for the best.
I can't even recall where we are up to on this trail however the car is now sold to wbac. only took 15 minutes of their time. Useful to know although after this i don't think i'll be buying and selling private again. Lease is probably the way forward.
Anyhow, car is gone and buyer is asking to have the money transferred across to his bank account. I have a letter from the finance company stating that they have no financial interest in the car and as far as they are concerned the transaction is legit and won't be sending the boys round if it does go tits up later on.
I'm still concerned but as far as i can work out i am covered if it does come back. I'll just have to shrug my shoulders and choose to believe he is legit and is prepared to take a 3.5k hit to get his money back.
I'll update you once all transactions are complete and we can draw a line under this chapter in our lives. There doesn't look like being any Bruce Willis style explosions to conclude this episode. Probably for the best.
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.
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.
Hey everyone, remember me.
So i thought i would fill you in with the outcome regarding my mysterious buyer.
As suspected by all of us, myself included, the buyer was dodgy and paid the finance off using a stolen card. He then claimed a refund from myself and thereby laundering the stolen money. He was caught a number of months ago and prosecuted. Apparently this was something himself and his mate had done several times.
As i told everyone at the time, including those who had little faith (you know who you are - people with specific vocabulary), i spoke to Nissan fraud team and got a letter confirming that i would not be held accountable should the transaction be fraudulent.
The police contacted me for a statement and i liaised with Nissan's lawyers for a number of weeks regarding this. Given the fact that i had all our correspondance recorded and a letter stating i would not be prosecuted, guess what...I was not prosecuted.
I hope people can learn from this and be as vigilant as myself. For those who were just abusive. Get a life.
Cheers
So i thought i would fill you in with the outcome regarding my mysterious buyer.
As suspected by all of us, myself included, the buyer was dodgy and paid the finance off using a stolen card. He then claimed a refund from myself and thereby laundering the stolen money. He was caught a number of months ago and prosecuted. Apparently this was something himself and his mate had done several times.
As i told everyone at the time, including those who had little faith (you know who you are - people with specific vocabulary), i spoke to Nissan fraud team and got a letter confirming that i would not be held accountable should the transaction be fraudulent.
The police contacted me for a statement and i liaised with Nissan's lawyers for a number of weeks regarding this. Given the fact that i had all our correspondance recorded and a letter stating i would not be prosecuted, guess what...I was not prosecuted.
I hope people can learn from this and be as vigilant as myself. For those who were just abusive. Get a life.
Cheers
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