safest way to accept money for car to be sold abroad?

[fraidycat]

Hi everyone. Just wondered if anyone has had any luck selling their P&J to someone abroad, and what method of payment actually worked without fraud problems if they ignore your constant 'cash on collection' caveat? I have an 'interested'party in Oz and it 'seems' to be going the right way, however, although he has family in UK, he's ignored my Cash on Collection (CoC) caveat twice now...stating he'll pay in a way suitable to both of us. I have heard so many horror stories about cheques being recalimed by banks, BACS being withdrawn, fake building soc cheqs etc etc, that my CoC was to prevent this extra stress. Any advices anyone? All my bank said was there are no guarantees at all, and how did they other guy know my car was for real!?!?!?!? cheers, Tara

[anonymous-user]

I wouldn't bother personally, can you not find a UK buyer?

[TDIfurby]

Use IBAN bank transfer to your own bank account and then ensure you wait for funds to clear properly. Check with your bank when done to ensure the OZ account used etc is genuine. Assume you are going to get it collected by their UK party once done and let them sort out exporting? I really cannot see why they cannot do cash on collection if that was the case....

[blueg33]

Sold my G33 to a guy from germany. Her transferred the full value to my current account, then I let him collect the car. He had been to my place and driven the car so had the comfort of knowing where to find me.

[EDLT]

Its probably a scam, at some point they will offer you more than the asking price but only if you accept paypal/Western Union/Bank of Nigeria monies.

[CraigyMc]

fraidycat said:

Hi everyone. Just wondered if anyone has had any luck selling their P&J to someone abroad, and what method of payment actually worked without fraud problems if they ignore your constant 'cash on collection' caveat? I have an 'interested'party in Oz and it 'seems' to be going the right way, however, although he has family in UK, he's ignored my Cash on Collection (CoC) caveat twice now...stating he'll pay in a way suitable to both of us. I have heard so many horror stories about cheques being recalimed by banks, BACS being withdrawn, fake building soc cheqs etc etc, that my CoC was to prevent this extra stress. Any advices anyone? All my bank said was there are no guarantees at all, and how did they other guy know my car was for real!?!?!?!? cheers, Tara

What sort of car is it?

You'd have to ask, if it's something even halfway normal, why there wouldn't be a better one closer than the opposite side of the world.

It smells strongly of scam to me, I'm afraid.

[fraidycat]

she's a 3.6 manual XJ-SC cabriolet, a rarity and in exceptional condition but very much to personal taste.

[farrendahl]

If they have ignored the caveat twice already I would personally be refusing the sale, they have family in the UK it really shouldn't be the biggest issue in the world for them to send payment to the UK based contact and then said contact pay you with the cash. If they are unable or it seems more appropriatly unwilling, to do this then walk away from the deal. It's not worth the potential headaches.

[marcosgt]

Sounds like a con - Ignore any more emails.

M.

[H_Kan]

I sold my MX-5 to a french guy, I insisted on cash and for added security he paid in sterling which he had changed from Euros in front of me at the local currency shop.

I personally would be insisting that he transferred money to the UK contact who then bought the money on collection- would NOT accept anything else. Enough horror stories with UK buyers, don't want to chuck another country into the mix!

[Efbe]

SCAM SCAM SCAM SCAM SCAM SCAM SCAM SCAM SCAM SCAM SCAM SCAM SCAM SCAM SCAM

If it isn't, then he will have no problem on a bank transfer to his family over here, and them paying you in cash!

There is NO safe way of money transfer in reality other than cash. almost all money transfers can be clawed back at some point by the bank if the bank feels they are out of pocket somehow.


edit: also seems like an odd car to want to ship over to aus.

Edited by Efbe on Wednesday 29th December 17:30

[funster]

Walk away, it's a scam.

[AndrewW-G]

I'd only trust the following:

Bank transfer into your account, with telephone confirmation from bank that the funds are there, have cleared and in no way can the transaction be reversed

Cash, Sterling to be paid into your bank, prior to passing over the keys, with confirmation from counter staff that cash was legit

Money transferred to YOUR solicitor as part of an ESscrow type deal (solicitor keeps money in their client account, until buyer has collected car)

[Efbe]

AndrewW-G said:

I'd only trust the following:

Bank transfer into your account, with telephone confirmation from bank that the funds are there, have cleared and in no way can the transaction be reversed

when you ask your bank about this, they will tell you it is not totally safe. especially from other countries.

AndrewW-G said:

Money transferred to YOUR solicitor as part of an ESscrow type deal (solicitor keeps money in their client account, until buyer has collected car)

a lot of hassle. but basically they would just do the bank thing, and there is no way a solicitor would take the responsibility for it not being a scam for this amount of money ( i would have thought anyhow!)

[Crazy Torque]

TDIfurby said:

Use IBAN bank transfer to your own bank account and then ensure you wait for funds to clear properly. Check with your bank when done to ensure the OZ account used etc is genuine. Assume you are going to get it collected by their UK party once done and let them sort out exporting? I really cannot see why they cannot do cash on collection if that was the case....

Pardon me for being thick - but what is to stop someone 1) opening a bank account, 2) paying their own fake bank draft into that account, then 3) sending an IBAN transfer with this fake money?

Can someone explain how and why this is impossible? It's just something that bugs me a bit when people ask to send a bank transfer instead of some other method...

[jaymzfc]

I live abroad and purchased cars from the UK a few times, I simply contacted the owner, paid either cash on collection or went to the bank with a bankers cheque or paid by credit card (withdrew money infront of the guy.
Just ask for those terms and you cant go wrong, oh and do take someone else with you ok.

Good luck.

[AndrewW-G]

Efbe said:

AndrewW-G said:

Money transferred to YOUR solicitor as part of an ESscrow type deal (solicitor keeps money in their client account, until buyer has collected car)

a lot of hassle. but basically they would just do the bank thing, and there is no way a solicitor would take the responsibility for it not being a scam for this amount of money ( i would have thought anyhow!)

Yep, more expense and more hoops to jump through, however the solicitors who do this, tend to know the ins and outs of the process and when I've used them for selling cars to clients in the US, they've had the option of buying insurance to cover any unforeseen wire fraud . . . . Smiles all round, but not the cheapest or quickest way of doing things

[TDIfurby]

Crazy Torque said:

TDIfurby said:

Use IBAN bank transfer to your own bank account and then ensure you wait for funds to clear properly. Check with your bank when done to ensure the OZ account used etc is genuine. Assume you are going to get it collected by their UK party once done and let them sort out exporting? I really cannot see why they cannot do cash on collection if that was the case....

Pardon me for being thick - but what is to stop someone 1) opening a bank account, 2) paying their own fake bank draft into that account, then 3) sending an IBAN transfer with this fake money?

Can someone explain how and why this is impossible? It's just something that bugs me a bit when people ask to send a bank transfer instead of some other method...

I would hope the local banking system in OZ would prevent this from happening. This is why I would also, without fail, ring your bank upon credit of this money to verify its from a genuine account, etc. I would also probably wait a minimum of 7 to 10 days, after funds cleared, in case of comebacks - again verify with your bank that its genuine etc before release of goods.

In this scenario though, with UK connections, why doesn't the OZ guy pay his associates and they get cash? Smells fishy! If they ignore the cash thing a third time, tell them to do one!

[fraidycat]

thanks for all the feedback guys, I'm getting the idea that we all think this is a scam.... I have been concerned- which is why I had the CoC caveat. Anyway I have't heard from the 'buyer' since Xmas eve, and after I sent him all my car details so he could "fill in the import paperwork for the authorities" I'm pretty convinced it WAS a scam, and now I'm worried what a foreign stranger can do with my information. Now I'm getting extra door locks for my garage and adding an after-market car alarm just in case. I really appreciate all the replies, even the ones that aren't immediately apparent as helpful (because even just verbal support is helpful!) and I'll go away and lick my wounds. I think I'll keep my car after all, I can't figure out what to replace her with anyway!
HNY everyone!