Selling a car to Hong Kong

[rich_s]

So I have advertised my 968CS and a chap from Hong Kong says he is interested.

He obviously wants an inspection done on it and if all is OK he will send me the money and has asked me to drive it to a port.

If the money is transferred in to my bank account I cant go wrong can I? anything I should be careful of?

Rich

[Rocco1]

hi there,i sold my 964t to a buyer in HK.if the inspection goes well and the buyer is happy then ask for the full money upfront,the buyer will need your bank details. use an account which you dont use often and have the money paid into it,once the payment has been made and the funds are clear move it to another account.the buyer will need the following bank details
bank address
account no
sort code
IBAN no
SWIFT CODE
what is the buyers name?

[doozy]

I sold a car recently to a guy in France, i had the money in my account before i released the car. The risk is all on the buyers side.

[Porkupine]

Agree with what was said above. Only thing I would say is make sure PayPal not involved. I have heard of scams where money transferred into someones PayPal which they then transfer into their own personal bank account before releasing the car. All would seem fine but the scams mean that PayPal has the right to then withdraw the fraudulent funds from your own bank account. And there are various PayPal scams about so just make sure it is a straight transfer into your account no PayPal involved. Good luck with the sale!

[Crimp a Length!]

Rocco1 said:

hi there,i sold my 964t to a buyer in HK.if the inspection goes well and the buyer is happy then ask for the full money upfront,the buyer will need your bank details. use an account which you dont use often and have the money paid into it,once the payment has been made and the funds are clear move it to another account.the buyer will need the following bank details
bank address
account no
sort code
IBAN no
SWIFT CODE
what is the buyers name?

As Rocco said i sold my 930 last year to a guy in HK easiest transaction ever.

[Redarress]

If money is transfered by BACS I am sure it can be recalled by the sender up to mid day of the following day the money appears in your account.
When I sold my car to Norway I made sure the money had not been recalled before I released the car. All went well and car is now bombing around Oslo.

[khushy]

10 years ago, i sold my MINT 500SEC via the internet to a Doctor in Portugal, he transferred the whole amount to my account and sent a transporter within a week to pick it up from my home in the midlands!

No worries

[mollytherocker]

Rocco1 said:

hi there,i sold my 964t to a buyer in HK.if the inspection goes well and the buyer is happy then ask for the full money upfront,the buyer will need your bank details. use an account which you dont use often and have the money paid into it,once the payment has been made and the funds are clear move it to another account.the buyer will need the following bank details
bank address
account no
sort code
IBAN no
SWIFT CODE
what is the buyers name?

Hi Rocco

Is it 100% safe to give these details to someone you dont know?

MTR

[rpguk]

I wouldn't say it's 100% safe - someone could set up a standing order to their own account - this has happened to me twice on my business account in the past month (with a few other foiled attempts). Fortunately bank has refunded in both cases.

However it's also necessary in order to conduct business so sometimes it's necessary to take the risk. How is the bloke in Hong Kong? Is he emailing from a Yahoo address with overly wordy bad English? Have you spoken to him on the phone?

If he's sent someone out to do an inspection I'd have a lot more trust in the transaction.

And of course, make sure that you have cleared funds before releasing the car!

[rich_s]

Thanks guys, he is emailing from a hotmail account. I have googled his email address and it looks OK I.e. a professional person in the medical industry.

We will see what happens, no inspection organised yet.

Rich

[LaurasOtherHalf]

try asking in the general gassing section on here, the answers you will get are far more detailed & much caution is needed.

the main problem from what i'm aware of is of someone using dodgy funds to pay you through the usual legal channels, then months down the line the trail leads to the unlucky car seller & the funds are taken back to their rightful owner whilst the car seller is left with no money & no car.

doozy said:

I sold a car recently to a guy in France, i had the money in my account before i released the car. The risk is all on the buyers side.

^^^this is completely untrue & the major reason people end up getting scammed.

just because you have the money in your account, or have moved it to another account, or have spent it, if it was obtained ilegaly further up the chain you're liable.

Edited by LaurasOtherHalf on Saturday 9th June 12:59

[Rocco1]

mollytherocker said:

Hi Rocco

Is it 100% safe to give these details to someone you dont know?

MTR

nothing is 100% safe today,if the car is going overseas then there is always a small margin of risk.as i said use an account that you have very little or nothing in it and then move the funds into another account where the buyer has no details/access, that way there is no way the founds can be clawed back.i uesd barclays had no issues and just as an added precaution i closed the account where the founds first arrived.
one more thing you can always tell the buyer the founds have not arrived untill you have moved the founds.(just in case you need to call at the bank,that way you have time or better still go and collect your founds in person and move it on again,once you have done this you can tell the buyer the founds have arrived)

[LaurasOtherHalf]

Rocco1 said:

as i said use an account that you have very little or nothing in it and then move the funds into another account where the buyer has no details/access, that way there is no way the founds can be clawed back

I'm sure you know this rocco as I know you deal in these high end vehicles but I think it's misleading the OP somewhat.

You can take the money out of the account, you can put it under your mattress, spend it, close all bank accounts & change your name but legally, you are still 100% accountable for the funds should they prove to be misappropriated from somewhere else.

[rich_s]

LaurasOtherHalf said:

try asking in the general gassing section on here, the answers you will get are far more detailed & much caution is needed.

the main problem from what i'm aware of is of someone using dodgy funds to pay you through the usual legal channels, then months down the line the trail leads to the unlucky car seller & the funds are taken back to their rightful owner whilst the car seller is left with no money & no car.

doozy said:

I sold a car recently to a guy in France, i had the money in my account before i released the car. The risk is all on the buyers side.

^^^this is completely untrue & the major reason people end up getting scammed.

just because you have the money in your account, or have moved it to another account, or have spent it, if it was obtained ilegaly further up the chain you're liable.

Edited by LaurasOtherHalf on Saturday 9th June 12:59

Thanks, I just posted it on "General Gassing" and some mug calls me a spammer - great.

[LaurasOtherHalf]

rich_s said:

Thanks, I just posted it on "General Gassing" and some mug calls me a spammer - great.

seen the thread pal, i think the guy in question was suggesting that your hong kong buyer may be a spammer.

the technique used by these fraudsters is to hit as many car sellers as possible & seeing who bites. this type of fraud is called "phishing", spam is the term for sending out random emails in the hope that the random individual that recieves the email will be interested & responds.

your reply on the other forum is mistakingly calling your buyer as a "spammer" or fraudster (he should be saying "phisher" to be totally accurate).

there are many, many different scams that people use from overseas in order to con people out of their cars or money. what most peopl are suggesting on here is a very low level fraud in the way that someone sends you the money, buys the car & then retracts the payment.

paypal is being targeted quite successfully at the moment as it's extremely easy to reverse the payment.

what's scary is the huge (& i mean huge) amount of people globally who literally spend every waking hour trying to establish a dialogue with an unsuspecting customer somewhere so they can defraud them.

your nigerian prince who is trying to send his dieing fathers money out of the country is a very low down example.

the hot young russian girl who wants to date a foreign english man slightly more advanced but perhaps more cynical.

be careful out there

[Rocco1]

LaurasOtherHalf said:

I'm sure you know this rocco as I know you deal in these high end vehicles but I think it's misleading the OP somewhat.

You can take the money out of the account, you can put it under your mattress, spend it, close all bank accounts & change your name but legally, you are still 100% accountable for the funds should they prove to be misappropriated from somewhere else.

where is this topic going? dont send the car untill you are 100% sure the funds are clear!
its simple you dont sell the car if you are not happy with the buyer,i have had no issues when i sold my gallardo went to south africa £130k,porsche to HK £42k,nsx HK £45k, 430 malaysia £90k.
many people on here have sold cars to buyers in HK ie kay c and crimp and we have had no issues,good luck

[LaurasOtherHalf]

Rocco1 said:

where is this topic going? dont send the car untill you are 100% sure the funds are clear!
its simple you dont sell the car if you are not happy with the buyer,i have had no issues when i sold my gallardo went to south africa £130k,porsche to HK £42k,nsx HK £45k, 430 malaysia £90k.
many people on here have sold cars to buyers in HK ie kay c and crimp and we have had no issues,good luck

Indeed I sold my last 911 to a buyer in France. You make the most important point that you need to be happy with the buyer & I'm 100% with you on that.

What I'm trying to say is that for example, your 430 buyer in Malaysia has paid you the funds, they've cleared & you've took the money out & spent it on another car.

Couple of months the bank get in touch, a fraudulent transaction has been paid into your account & a Malaysian bank are on the blower & asking for their 70 grand back.

You say, sorry old boy, the money's gone so it's hard luck mr Malaysian bank account manager you better tell your customer he's been done.

Unfortunatly that isn't quite how it works & they will come after you for the wonger, as I said, whether you'd moved it to another account, bought a car or were throwing handfuls of it in the air screaming "we're rich"!

Hth

[doozy]

LaurasOtherHalf said:

^^^this is completely untrue & the major reason people end up getting scammed.

just because you have the money in your account, or have moved it to another account, or have spent it, if it was obtained ilegaly further up the chain you're liable.

Edited by LaurasOtherHalf on Saturday 9th June 12:59

And how is that different to selling anything to anyone, anywhere.

As i said, at one point i had the car and the cash so the risk is on the buyers side. You realistically can't do any more that that.

[LaurasOtherHalf]

doozy said:

LaurasOtherHalf said:

^^^this is completely untrue & the major reason people end up getting scammed.

just because you have the money in your account, or have moved it to another account, or have spent it, if it was obtained ilegaly further up the chain you're liable.

Edited by LaurasOtherHalf on Saturday 9th June 12:59

And how is that different to selling anything to anyone, anywhere.

As i said, at one point i had the car and the cash so the risk is on the buyers side. You realistically can't do any more that that.

i give up

[Rocco1]

if the guy is called "marcus" hes a good guy,he buys cars from uk and sells them in hk.this guy marcus paid me £10k no inspection,then i did not hear from him for two weeks and then i got an email that rest of the funds will be in my account in two day.the money did arrive in two days and the full amount was paid.the car stayed with me for another 4 weeks until marcus arranged shipping.i dropped it of to manchester airport (freight terminal)and have had no issues.
ask the buyer to email you proof of payment(email of TT confirmation sheet)

Edited by Rocco1 on Saturday 9th June 15:38