Seller beware? Am I right to be suspicious?
Discussion
Has anyone else on here selling a 360 in the £50-60K region, been contacted or shown their car to 3 guys, early 30's, in the last 2-3 weeks?
I have a 360 Modena F1 for sale. Rosso/Nero 24K, good spec at £56995
They say they are from the Midlands (I'm based in Northampton) but say they have travelled all over the UK looking at other similar cars. They arrived at my place twice in a gold coloured Mercedes CLS.
They said they have looked at cars in Exeter, Wales, Coventry etc.
The main guy is full of stories, ie. 'I've had 11 Ferrari's', 'I've just sold my 600 mile F430 and now looking for a cheap run around' and 'I've just sold my Gallardo to Lambo UK'. The 2 other guys, one is well over 6ft and dark haired, the other smaller and bald, say very little.
After numerous phone calls and a second visit to pay a £5000 cash deposit, which then doesn't materialise, they go off to think about it again.
Other phone calls follow, with promise of a CHAPS tranfer and then collection of the car this Friday.
Just had a phone call 4.00pm today to say they will be arriving later with a draft to take the car.
Alarm bells are ringing at this point, excuses range from, 'Lombard who are financing the car, won't pay by transfer because you'll have the car and the money at the same time' and 'Lombard will only pay by draft, it's as good as cash'.
At my insistance of cleared funds before the car is collected, I'm told to keep the car and the phone is put down.
Has anyone else had a visit from these guys? or maybe a similar offer of payment.
This is my first experience of this kind, luckily all my other buyers have been qenuine and honest.
I have a 360 Modena F1 for sale. Rosso/Nero 24K, good spec at £56995
They say they are from the Midlands (I'm based in Northampton) but say they have travelled all over the UK looking at other similar cars. They arrived at my place twice in a gold coloured Mercedes CLS.
They said they have looked at cars in Exeter, Wales, Coventry etc.
The main guy is full of stories, ie. 'I've had 11 Ferrari's', 'I've just sold my 600 mile F430 and now looking for a cheap run around' and 'I've just sold my Gallardo to Lambo UK'. The 2 other guys, one is well over 6ft and dark haired, the other smaller and bald, say very little.
After numerous phone calls and a second visit to pay a £5000 cash deposit, which then doesn't materialise, they go off to think about it again.
Other phone calls follow, with promise of a CHAPS tranfer and then collection of the car this Friday.
Just had a phone call 4.00pm today to say they will be arriving later with a draft to take the car.
Alarm bells are ringing at this point, excuses range from, 'Lombard who are financing the car, won't pay by transfer because you'll have the car and the money at the same time' and 'Lombard will only pay by draft, it's as good as cash'.
At my insistance of cleared funds before the car is collected, I'm told to keep the car and the phone is put down.
Has anyone else had a visit from these guys? or maybe a similar offer of payment.
This is my first experience of this kind, luckily all my other buyers have been qenuine and honest.
Bankers draft should be fine - take it to the bank pay it in (and get it checked), then let them take the car. You tend to find these scams take place on a weekend when the bank isn't open. If it's Friday then take the draft straight to the bank (or even phone them).
Still unbeliveable that in this day and age you can't transfer moeny/asset safely without using cash.
Rick
Still unbeliveable that in this day and age you can't transfer moeny/asset safely without using cash.
Rick
bromers2 said:
Bankers draft should be fine - take it to the bank pay it in (and get it checked)
Seem to recall many horror stories of last year where these then bounced back, gone are the days of bankers drafts being safe to use.
Could have asked to ring Lombard to discuss the payment into your account......then they would have run off a bit sooner probably
Edited by blot on Thursday 17th May 17:45
blot said:
Seem to recall many horror stories of last year where these then bounced back, gone are the days of bankers drafts being safe to use.
Indeed 
See this thread:
http://pistonheads.com/gassing/topic.
CHAPS transfer is about the only safe way these days. If accepting a banker's draft I think I'd want to speak to the issuing bank to verify that it's genuine. If the buyer's genuine they won't mind a CHAPS transfer.
The story about Lombard sounds a load of b******s.
When I bought my 348 I basically went to the local TSB with the chap, did the cash transfer right in front of him and had it all confirmed by the bank there and then. He was with the TSB also so everything was instantaneous and the money went straight to his account.... totally stress free for both of us !!
Heard some horror stories about bankers drafts so be careful whatever you do !
Heard some horror stories about bankers drafts so be careful whatever you do !
bromers2 said:
Bankers draft should be fine - take it to the bank pay it in (and get it checked), then let them take the car. You tend to find these scams take place on a weekend when the bank isn't open. If it's Friday then take the draft straight to the bank (or even phone them).
Still unbeliveable that in this day and age you can't transfer moeny/asset safely without using cash.
Rick
Still unbeliveable that in this day and age you can't transfer moeny/asset safely without using cash.
Rick
This is incorrect. Even the Banks (unless its the issuing Branch) will not confirm that the draft is correct.
Do not accept draft as way of payment unless you are in the bank when it is issued and then take the orginal before the buyer.
This all sounds really fishy-
paracetamol said:
bromers2 said:
Bankers draft should be fine - take it to the bank pay it in (and get it checked), then let them take the car. You tend to find these scams take place on a weekend when the bank isn't open. If it's Friday then take the draft straight to the bank (or even phone them).
Still unbeliveable that in this day and age you can't transfer moeny/asset safely without using cash.
Rick
Still unbeliveable that in this day and age you can't transfer moeny/asset safely without using cash.
Rick
This is incorrect. Even the Banks (unless its the issuing Branch) will not confirm that the draft is correct.
Do not accept draft as way of payment unless you are in the bank when it is issued and then take the orginal before the buyer.
This all sounds really fishy-
Agreed. There are lots of threads in the Pie & Piston forum about this that are worth a look. Better safe than sorry. Good luck!
Basically the situation with bankers drafts is that they are as easy to forge as cheques, they actually take longer than cheques to clear (up to 10 days depending on banks), they used to be known as "certified cheques" because the bank would check the account had enough money to pay the amount before the draft was written out then they would put a block on that amount of money and issue the cheque, unlike a cheque a draft couldn't be stopped. that said you should NEVER EVER EVER release any form of property until the draft has cleared fully into your account. i.e treat it just like a cheque.
The lombard tale is utter rubbish. we do all our finance co transactions by chaps and bacs these days.
there has been a lot of bankers draft forgeries. if it is such a problem for lombard, ask for the name of the underwriter at lombard and ring them. tell them you are willing for them to escrow the transaction i.e you take the car to them(lombard), they release the funds to you, then they release the car to the buyer. if they aren't happy with that (the buyer) they are full of S@it.
be very careful. if he is coming back with 2 mates, make sure you invite 3 of yours round the house before hand.
The lombard tale is utter rubbish. we do all our finance co transactions by chaps and bacs these days.
there has been a lot of bankers draft forgeries. if it is such a problem for lombard, ask for the name of the underwriter at lombard and ring them. tell them you are willing for them to escrow the transaction i.e you take the car to them(lombard), they release the funds to you, then they release the car to the buyer. if they aren't happy with that (the buyer) they are full of S@it.
be very careful. if he is coming back with 2 mates, make sure you invite 3 of yours round the house before hand.
Edited by nopantshans on Thursday 17th May 19:12
beaver said:
Even CHAPS transfers are reversable - as my bank pointed out to the guy I bought a CSL from, as the transfer was going through!
(We went together so he could witness the transfer)I'm not sure at what point it becomes cleared funds and stays as cleared funds....
(We went together so he could witness the transfer)I'm not sure at what point it becomes cleared funds and stays as cleared funds....
I assume by that you mean that when you go to the bank and sign the forms it's still reversable as the funds don't transfer then. CHAPS guarantee is by close of business on the day in question. But once the funds are in the vendors account I don't see how it could be reversed??
northo said:
These guys may have been around to case your gaff, so watch out!
On the other hand...Don't let paranoia rule you.
But they do sound suspicious. Did you take the reg of the Merc? Might be worthwhile just enquiring at the local Police station. I wouldn't trust them though to be honest.
Where did they see your car ad'd? It appears noone else here as owners/sellers have had calls/enquiries from these gentlemen?
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