Is this a scam?
Discussion
I'm currently selling a car and have agreed a deal with someone who is using a collection company to pick up the car.
They're paid a hefty deposit of £4,500 and the car is valued at £24,500.
I've told them the balance will need to be paid before the car is loaded.
I'm just a little skeptical of them as 1. They have paid an unnecessarily large deposit and 2. They seem a little vague about the exact timing of payment and loading of the car when asked.
I'm expecting the company to turn up and for them to claim the funds have been sent and then to pressure me to release the car before the money is in my account.
Am I being paranoid or is this a thing?
They're paid a hefty deposit of £4,500 and the car is valued at £24,500.
I've told them the balance will need to be paid before the car is loaded.
I'm just a little skeptical of them as 1. They have paid an unnecessarily large deposit and 2. They seem a little vague about the exact timing of payment and loading of the car when asked.
I'm expecting the company to turn up and for them to claim the funds have been sent and then to pressure me to release the car before the money is in my account.
Am I being paranoid or is this a thing?
Let's put it this way, you've agreed to buy a used car from a dealer. Paid a fair old deposit, turn up at the agreed time, only for some reason the funds do not transfer as expected for whatever reason. You are able to show that the funds are available.
The salesperson is not ever going to release the car on a promise to pay until the full amount is confirmed securely in the account and with some security of the transaction.
You should be no different. Anyone who hums and haws and shuffles about differently from your position is not to be trusted imo.
The salesperson is not ever going to release the car on a promise to pay until the full amount is confirmed securely in the account and with some security of the transaction.
You should be no different. Anyone who hums and haws and shuffles about differently from your position is not to be trusted imo.
rotaryjam said:
I'm currently selling a car and have agreed a deal with someone who is using a collection company to pick up the car.
They're paid a hefty deposit of £4,500 and the car is valued at £24,500.
I've told them the balance will need to be paid before the car is loaded.
I'm just a little skeptical of them as 1. They have paid an unnecessarily large deposit and 2. They seem a little vague about the exact timing of payment and loading of the car when asked.
I'm expecting the company to turn up and for them to claim the funds have been sent and then to pressure me to release the car before the money is in my account.
Am I being paranoid or is this a thing?
How did they pay?They're paid a hefty deposit of £4,500 and the car is valued at £24,500.
I've told them the balance will need to be paid before the car is loaded.
I'm just a little skeptical of them as 1. They have paid an unnecessarily large deposit and 2. They seem a little vague about the exact timing of payment and loading of the car when asked.
I'm expecting the company to turn up and for them to claim the funds have been sent and then to pressure me to release the car before the money is in my account.
Am I being paranoid or is this a thing?
If it was PayPal then quite possibly a scam where you will lose the money and the car.
rotaryjam said:
I'm currently selling a car and have agreed a deal with someone who is using a collection company to pick up the car.
Let me guess,It was exactly what they were looking for?
They couldn't view it because <overly-complex backstory involving not being in the country at the time>?
They agree to pay <full amount or very near> with little to no negotiation, or checks carried out?
Nobody has yet been to see it in person?
They have "paid" the money to some sort of escrow service, and it's not really in your bank account?
Any of those are massive red flags. Ultimately - If in doubt, just tell them you've sold it to someone else.
Someone is bound appear on here with a tale of their £3million supercar being bought by an eccentric who sent his butler over with a carrier bag full of £50s and it was all fine, that is very very very much not the norm.
rotaryjam said:
I'm currently selling a car and have agreed a deal with someone who is using a collection company to pick up the car.
They're paid a hefty deposit of £4,500 and the car is valued at £24,500.
I've told them the balance will need to be paid before the car is loaded.
I'm just a little skeptical of them as 1. They have paid an unnecessarily large deposit and 2. They seem a little vague about the exact timing of payment and loading of the car when asked.
I'm expecting the company to turn up and for them to claim the funds have been sent and then to pressure me to release the car before the money is in my account.
Am I being paranoid or is this a thing?
Doesn't seem unreasonable for someone to commit to buying a car, intending to get it transported to their place. They don't know the date of that, because they didn't attempt to book it ahead of committing to the car. They are probably getting quotes for transport and finding it takes time.They're paid a hefty deposit of £4,500 and the car is valued at £24,500.
I've told them the balance will need to be paid before the car is loaded.
I'm just a little skeptical of them as 1. They have paid an unnecessarily large deposit and 2. They seem a little vague about the exact timing of payment and loading of the car when asked.
I'm expecting the company to turn up and for them to claim the funds have been sent and then to pressure me to release the car before the money is in my account.
Am I being paranoid or is this a thing?
My guess would be that criminals are slicker and better organised than the average used car buyer.
How you ensure the cash is irreversibly in your account before the car leaves is the issue. Do you have a proper identity of the buyer?
Austin_Metro said:
I’d want the money in my account and then switched to another (with a different bank) before releasing the car.
Ideally the first account would have no overdraft facility and would then have a nil balance.
Yes. I keep a ‘shopping’ account, then top up with my main account.Ideally the first account would have no overdraft facility and would then have a nil balance.
What is said here is the reverse, and makes sense.
Also, remember, the buyer have difficulty transferring a large amount to you, because banks want security checks for large transfers to new recipients. They may be OK if you have been set up as a recipient for the deposit.
rotaryjam said:
I'm currently selling a car and have agreed a deal with someone who is using a collection company to pick up the car.
They're paid a hefty deposit of £4,500 and the car is valued at £24,500.
I've told them the balance will need to be paid before the car is loaded.
I'm just a little skeptical of them as 1. They have paid an unnecessarily large deposit and 2. They seem a little vague about the exact timing of payment and loading of the car when asked.
I'm expecting the company to turn up and for them to claim the funds have been sent and then to pressure me to release the car before the money is in my account.
Am I being paranoid or is this a thing?
A few questions....They're paid a hefty deposit of £4,500 and the car is valued at £24,500.
I've told them the balance will need to be paid before the car is loaded.
I'm just a little skeptical of them as 1. They have paid an unnecessarily large deposit and 2. They seem a little vague about the exact timing of payment and loading of the car when asked.
I'm expecting the company to turn up and for them to claim the funds have been sent and then to pressure me to release the car before the money is in my account.
Am I being paranoid or is this a thing?
Can you post the initial email/ communication with the buyer?
Are the deposit funds definitely in your account?
It does feel like a classic scam, but obviously might not be.....
I would definitely wanting to see the car personally before spending £24k privately.....
Most likely a scam, especially if they are using PayPal. They will claim they never received the car from the collection company and raise a dispute. They will be refunded the money and you’ve lost your car.
I very nearly fell for this selling a car on here a few years ago. Buyer said they had just had surgery so we’re unable to drive and would send a collection company to pick up the car. They were also going to deposit the full amount into my PayPal account. When I suspected it was a scam I said bank transfer only and funnily enough never heard from them again.
I very nearly fell for this selling a car on here a few years ago. Buyer said they had just had surgery so we’re unable to drive and would send a collection company to pick up the car. They were also going to deposit the full amount into my PayPal account. When I suspected it was a scam I said bank transfer only and funnily enough never heard from them again.
Buzypea said:
Most likely a scam, especially if they are using PayPal. They will claim they never received the car from the collection company and raise a dispute. They will be refunded the money and you’ve lost your car.
I very nearly fell for this selling a car on here a few years ago. Buyer said they had just had surgery so we’re unable to drive and would send a collection company to pick up the car. They were also going to deposit the full amount into my PayPal account. When I suspected it was a scam I said bank transfer only and funnily enough never heard from them again.
There are several ways to scam via Paypal.I very nearly fell for this selling a car on here a few years ago. Buyer said they had just had surgery so we’re unable to drive and would send a collection company to pick up the car. They were also going to deposit the full amount into my PayPal account. When I suspected it was a scam I said bank transfer only and funnily enough never heard from them again.
Incorrect shipping address; fake email from Paypal saying funds received; overpayment; asking seller to pay for shipping; etc.
Another way might be that the £4500 is a genuine bank transfer that OP will retain, but the buyer does a last minute £20k Paypal transfer (that gets reversed down the line) whilst the car is being loaded claiming 'bank problems'. OP gets to keep £4500 but has no car.
Wonder where OP is?
Edited by GT9 on Saturday 5th March 13:28
Edited by GT9 on Saturday 5th March 13:29
No-one of sound mind would use paypal when selling a used car (or making any transaction of a half decent amount - basic rule - only use paypal if it's an amount you can afford to lose).
I don't sell a great many cars but when I get to the payment bit of an ad I always state something like
'Payment by cash or bank transfer (preferably) /no paypal'.
Never had an issue.
Of course, it's not known how the OP received his money.
I don't sell a great many cars but when I get to the payment bit of an ad I always state something like
'Payment by cash or bank transfer (preferably) /no paypal'.
Never had an issue.
Of course, it's not known how the OP received his money.
Sorry for slow reply
I recieved the money via bank transfer.
We did haggle quite a bit and the price isnt amazing or unusual.
It gets straneger though, they sent me another £2,500. I asked why and they said they were testing out payments because something to do with the banks. I said it all seems very suspicious.... I sent them back everything except £500 depsit and said I want the rest on the day of pickup cleared in my account before I release the car.
So I am very suspicious of them but if I dont release the car until I have the money showing in full in my account how can I be scammed?
I recieved the money via bank transfer.
We did haggle quite a bit and the price isnt amazing or unusual.
It gets straneger though, they sent me another £2,500. I asked why and they said they were testing out payments because something to do with the banks. I said it all seems very suspicious.... I sent them back everything except £500 depsit and said I want the rest on the day of pickup cleared in my account before I release the car.
So I am very suspicious of them but if I dont release the car until I have the money showing in full in my account how can I be scammed?
Edited by rotaryjam on Saturday 5th March 22:09
Edited by rotaryjam on Saturday 5th March 22:22
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