Just a heads up really..

My friend/client was selling his merc C220 CDI Avantgarde on the autotrader and through various motoring forums online. He received a call from a guy who said he was a car exporter to bulgaria and that he had a customer wanting his colour C220cdi and pursued my friend for a final figure for his car.

A price of £19.5k was agreed, and the guy said he had a shipping agent here who he would make arrangement with, my friend contacted me and i was wary of this and told him to get funds cleared in his bank account before handing over the car.. he insisted on this to the buyer who then said he would make arrangements for payment etc (subject to final viewing). A week later a bankers draft arrived for the total sum plus £1,200 extra (which was explained was payment for the shipping agent which he would need to give in the form of cheque/transfer to the shipper). The bankers draft was in GBP and was sent from Peterborough and was from Allied Irish Bank.

My friend proceeded to pay this into his bank account, but told the bank staff that he was selling his car and he was worried that the draft may be dodgy and it was imperitive that the draft was cleared asap. They told him to wait 5 days before handing anything over. So he went quiet and the buyer wasn't pushing him or anything.

5 days later my friend gets a call from his bank saying that the draft was a forgery, it was on the genuine paper but the signature was an actual managers signature but was forged, they checked with the source and there was no record of the payment documents. Therefore if he hadn't of asked the bank to double check it may have gone through, he would have proceeded to hand the car over, and then later the bank would have realised and my friend would be the one that would have the money yanked back out of his bank account for the full amount, leaving him with a minus figure on his account, outstanding finance on a car, plus no car left!! so he would have been .. obviously he has told this man where to go now, and has ceased any communication with him.. and the bank are pursuing this through the Police.

My friend got off quite lucky, and it was only because of the bank double checking that the transaction wasn't made fraudulently!

I've heard of this one before. Once he realised it was fake your friend should have set up a police sting, but I doubt the police had time because they are too busy catching speeders. 2005 Zambezi TDV6 - Gone but not forgotten
2009 Alaska TDV8 - Gone and much missed.



WINNER - 2009 �Idler Of The Year� Award
Runner Up - 2009 �Just Doing What It�s Designed To Do� Award


DO NOT CLICK HERE!

.............. and just think of all that paperwork they would have had to fill in too  
" WITH MORE EXTRAS THAN A HOLLYWOOD EPIC "

remember even bank transfers can be iniated from a stolen cheque - nothing is secure - any bank transfers made using stolen cheques can be withdrawn upto 90 days after being paid, which is no use to anyone as no supplier would wait that long for the goods

Kaine

Had a similar one when I sold the BM, except it was shipping it to Oz.

I didn't even progress it as far as your mate, I just sent him an email back saying I had a buyer in the UK and wasn't interested in the hassle of banking a draft, paying money to a handling agent etc etc.

The golden rule applies for ANYTHING......do not hand over goods until cash/draft/cheque has been confirmed 100% by your bank. Runner up - 2009 Best Avatar Award
Joint runner up - 2009 Outstanding Contribution Award
WINNER - 2008 ‘Best Thread’ Award – Beautiful Women Of The World
Runner Up - 2008 Comedian Of The Year Award
Runner Up - 2008’s Funniest Incident

06 RRS TDV6 HSE, Java/Ebony, PTI, Running Boards, Privacy, S/C Grille/Vents, Stormers, Tasmods - GONE - (

ST - even if the bank clears it, if later the cheque is confirmed to be used without authorisation (i.e. it cheque was a ligimate bank issued cheque, however used by an unauthorised party) then you will loose out (unless its discovered after 90 days then your ok)

Kaine

Kaine wrote:

ST - even if the bank clears it, if later the cheque is confirmed to be used without authorisation (i.e. it cheque was a ligimate bank issued cheque, however used by an unauthorised party) then you will loose out (unless its discovered after 90 days then your ok)

Kaine

F k! That is frightening!  Runner up - 2009 Best Avatar Award
Joint runner up - 2009 Outstanding Contribution Award
WINNER - 2008 ‘Best Thread’ Award – Beautiful Women Of The World
Runner Up - 2008 Comedian Of The Year Award
Runner Up - 2008’s Funniest Incident

06 RRS TDV6 HSE, Java/Ebony, PTI, Running Boards, Privacy, S/C Grille/Vents, Stormers, Tasmods - GONE - (

whats more worrying is the fact that Banking and Monetary transactions are still based on a trust basis - we trust the bank to look after our money and to have the necessary insurance in case of theft etc - not that we would ever ask the Bank to show us proof of that - we sometimes forget that

Sad but true Kaine!  Runner up - 2009 Best Avatar Award
Joint runner up - 2009 Outstanding Contribution Award
WINNER - 2008 ‘Best Thread’ Award – Beautiful Women Of The World
Runner Up - 2008 Comedian Of The Year Award
Runner Up - 2008’s Funniest Incident

06 RRS TDV6 HSE, Java/Ebony, PTI, Running Boards, Privacy, S/C Grille/Vents, Stormers, Tasmods - GONE - (

Kam - Is that Merc C220 I sold to you?????

Sold my Freelander from the Autotrader to a guy from Cyprus, suspicious at first but he transferred the funds direct into my account, not draft, the bank confirmed it could not be withdrawn so I delivered the car [buyer unseen] to Southampton docks. Only sensible offer recieved, apparently a commercial Freelander is good news in Cyprus, checked his website and mainly commercial 4x4's, presumably because he doesnt have to pay VAT as he has EU VAT No. Now there's a way to sell an undesirable car......... RRS TD6 HSE, Java, Ebony, Rhodium, Overfinch Tigers, Privacy, Adaptive Lighting, Bluetooth.
Replaced by BMW 5 series M Sport Touring in Black with 19" Alloys.

Chappylad wrote:

Kam - Is that Merc C220 I sold to you?????

Just out of interest what is the recommended way of accepting payment for a vehicle sale.

I am just about to sell my daughters current car. The prospective purchaser will hopefully offer me the money in some form or another. I will have the expectation that I need to wait until the monies have cleared whilst he/she will have the expectation that I will not run off with the money and the car. Therefore there is a bit of a catch22.

Whats the best way (the value is around £3k) - even cash can suffer from forged notes.

Martin 2016 RRS 4.4 TDV8 Autobiography Dynamic in Montalcino Red and Stealth Kit

Last deal like that I concluded inside my bank.

I figured that was the most secure location to conclude a deal (CCTV etc) and to pay cash into my account.

He gave me the cash (£2500), we walked to the teller and I paid it into my account. Then we signed the V5, a receipt stating no warrantym what the car was etc, shook hands and caio baby! 2022 P440e AB

There is not a really secure method as even cash could be fake and the teller only realising after you had gone and your car too. I am sure the bank would then take it back out of your account.
The recent sale i conducted for £15.5k was done via 'CHAPS' transfer in one day.
My bank said this is confirmed transfer and cannot be withdrawn by the bank later unlike a BACS which can be.

I will always part ex my car in future as its not worth the hassle, not even for a couple of grand.