selling overseas from uk
Discussion
Please could some of you guys tell me the prefered and acceptable ways of selling to an overseas buyer.
I have had parties approach me with deals i am unhappy with and basically do not trust.
I do not wish to discuss anyone on this forum as i may have misunderstood or misjudged them,however i do wish to know the nature of this jungle.
Has anyone else had negative experiences of this form of sale?.i really want to hold out for domestic sale now.
(Marc of holland,this does not refer to you,i know you were a genuine buyer)
Thanks in advance,
PAUL C
I have had parties approach me with deals i am unhappy with and basically do not trust.
I do not wish to discuss anyone on this forum as i may have misunderstood or misjudged them,however i do wish to know the nature of this jungle.
Has anyone else had negative experiences of this form of sale?.i really want to hold out for domestic sale now.
(Marc of holland,this does not refer to you,i know you were a genuine buyer)
Thanks in advance,
PAUL C
Would like to know what is involved and any known scams that are about. If the same scam i have been offered is mentioned then i'll be less cryptic and tell all (without naming names).
I am given to thinking it is a minefield out there and want to know the ratio of scam/serious offers that others have experienced when getting overseas offers.
Once again i want to point out this does not apply to ALL people who have contacted me.
If this thread stays empty then i'll have outline what i have recieved(less names),which i would rather not do(on longshot i am wrong and offend).
Will wait patiently for now.
Thanks,
PAUL C
I am given to thinking it is a minefield out there and want to know the ratio of scam/serious offers that others have experienced when getting overseas offers.
Once again i want to point out this does not apply to ALL people who have contacted me.
If this thread stays empty then i'll have outline what i have recieved(less names),which i would rather not do(on longshot i am wrong and offend).
Will wait patiently for now.
Thanks,
PAUL C
Paul is this a car you are selling?
For me its the same as if its a UK buyer, in that (unless the buyer turns up with cash) the car doesnt go until I see the funds in my account. He can use BACS, transfer by internet banking, or post you a cheque whatever, this is a no ifs and no buts situation and forget all the 'but its a building society cheque & its as good as cash' nonsence as ive known 'em to be stolen cheques.
For me its the same as if its a UK buyer, in that (unless the buyer turns up with cash) the car doesnt go until I see the funds in my account. He can use BACS, transfer by internet banking, or post you a cheque whatever, this is a no ifs and no buts situation and forget all the 'but its a building society cheque & its as good as cash' nonsence as ive known 'em to be stolen cheques.
Paul
I'm with the lizardy one on this. If you have somehting interesting that a genuine buyer is after they will understand your worries. Try an escrow service as Ted suggested. This way they get the car when the funds have been transferred to you and if you don't deliver the car they get the funds back from the escrow service.
Otherwise don't part with your car until the funds have cleared your account and confirmed as cleared by your bank. Building Society cheques, bank drafts etc can all be faked and have been. These are often targetted at the "higher" end of the market. Even cash can be dodgy, so get it paid in and cleared there and then.
Key warning signs to look for is someone who is not giving the car a good going over, ok they may simply be an idiot, but someone who doesn't even seem to care about the condition could be a warning sign. Also it would be handy to see their passport / other documentation to fill out your bit of the V5. Although these can be faked you'll have done as much as is reasonable at the time.
Hope this helps
Chris
I'm with the lizardy one on this. If you have somehting interesting that a genuine buyer is after they will understand your worries. Try an escrow service as Ted suggested. This way they get the car when the funds have been transferred to you and if you don't deliver the car they get the funds back from the escrow service.
Otherwise don't part with your car until the funds have cleared your account and confirmed as cleared by your bank. Building Society cheques, bank drafts etc can all be faked and have been. These are often targetted at the "higher" end of the market. Even cash can be dodgy, so get it paid in and cleared there and then.
Key warning signs to look for is someone who is not giving the car a good going over, ok they may simply be an idiot, but someone who doesn't even seem to care about the condition could be a warning sign. Also it would be handy to see their passport / other documentation to fill out your bit of the V5. Although these can be faked you'll have done as much as is reasonable at the time.
Hope this helps
Chris
Hi Paul,
I work for a car finance company and we have quite strict buying guidelines when purchasing / selling cars. As others on this string have already mentioned, I would certainly not release a car (to either a foreign or domestic buyer) without first having cleared funds from the purchaser, and by this the funds should be in your bank account (not a draft in your hand!) You can always ring up your bank to confirm if the funds have cleared into your account. I think any genuine buyer would naturally agree to this. It should never be a matter of trust!
With regard to selling to someone overseas, I also think that any genuine buyer would still come & view your vehicle & meet you for themselves. But there are some people who will buy on description alone.
Regards,
Richard.
I work for a car finance company and we have quite strict buying guidelines when purchasing / selling cars. As others on this string have already mentioned, I would certainly not release a car (to either a foreign or domestic buyer) without first having cleared funds from the purchaser, and by this the funds should be in your bank account (not a draft in your hand!) You can always ring up your bank to confirm if the funds have cleared into your account. I think any genuine buyer would naturally agree to this. It should never be a matter of trust!
With regard to selling to someone overseas, I also think that any genuine buyer would still come & view your vehicle & meet you for themselves. But there are some people who will buy on description alone.
Regards,
Richard.
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