scams???

[claybill]

has anyone here heard of a scam where ...when buying a car, he will pay half up front and pay the rest in 90 days when they pick it up...then all of a sudden they change plans, send a second check and will pick it up in a few days.....??!?!?!?!?! seems no time for checks to clear.

i think i am in the middle of one right now. we will see..

these guys are smart...smarter than we are in this instance.

does anyone know exactly ...'when your money is safe' and cannot be cancelled or called back.. some checks clear in 2 days...then others take a week..i have heard that a check can be stopped even a day after it has cleared..!!!

help advice. !!!!

[greg g]

Dude, whites of their eyes, cash in your hand or nothing transfers ownership. Especially if you have no knowledge of them.

Checks even tellers checks, if the bank checks funds are easy to fake. Cash or USPS money order in hand before pen to title. If they ae legitimate it should not be a problem

[BobT-47P15]

I agree. If they truly have enough money in the bank to write a check, then they can go get it in cash instead. I think I would even take a cashier's check direct to the bank to cash before letting the car go. Fraud guys are pretty slick and can forge anything these days. Can't be too cautious. If it makes the "buyer" mad and he stomps off into the sunset, then you're probably ahead. I would not take a personal check from anyone, no matter who they say they are. Unless they are your best friend, and then that's no guarantee.

[claybill]

thanks for advie...but if you take a personal check...and it clears..then its same as cash right??

claybill

google shows the buyer is quite respected and well off...very well.!

[teardrop puller]

Claybill

Not necessarly, the check may clear but when the real owner of the check realizes they have stolen from them and then all HE__ breaks out. So, I agree Cash or PayPal.

kai

[greg g]

The bank might give you the cash cause the check is by federal law a demand instrument, however just because they cash it doesn't mean its a good check, and you could be left with the bank demanding the cash back due to demand made against a fraudulent (forged) instrument. You may not find out till two or three weeks later after the instrument passes through a central ban k clearing house. So it may clear locally but dead end 14 days later, and your bank will put a freeze on your funds till it is satisfied.

Things have gotten so screwy lately, I wouldn't rust nothing but dead presidents in my hand. If the buyer is on the up and up, he shouldn't have a problem with paying in cash. As a matter of fact you may also get reamed if you toke the deposit in the form of apersonal check or cashiers check on a forged check. Again just because you may have cashed the deposit doesn't make it good fo at least a coule of weeks. So even if they pony up the cash for the balance you still may be out the deposit. Sad it has come to this but, better safe the sorry.

[Norm's Coupe]

Bill,

When they get there with the second check, take the check and the person to the bank. Have him cash the check without you backing it with your account. In short, don't sign the check at all. Let them cash it with their own ID, etc. Then if the get the cash take it. That way your name is not connected with the check, only theirs and the bank can't come back to you if it bounces.

If for some reason that can't be done, tell the guy to go home, get cash, then come back.

Since you are so close to Illinois or in it, you could also take the guy to the local Currency Exchange office. Again though, you don't cash the check. Make him do it and give you the cash. You can wait for him outside in the car while he does it.

[claybill]

how about...if he sends a wire transfer to my account. thats real money..in a day or so. no waiting . no calling back.

what it is....the buyer is 10 states away. and wont be picking it up. but sending one of those car transport companies.

everything seems ok..but you gotta take precautions..

bill

[Norm's Coupe]

Bill, Wire transfers aren't so great. Anyone putting money into your account has to have your account number. They can then electronically pull money out just as easily as they put it in. I would never do a wire transfer.

[Normspeed]

I could only say, don't let the process and the buyer rush you. If the buyer really wants the car, he's likely to get antsy about having it, but he's gotta respect your requirements as a seller too. If the checks are large, walk them in and talk to a bank officer before accepting, and see what your bank's provisions are.

[PatS....]

If you are the seller and they wire money TO YOU, then it's as good as cash because once you collect, the transaction is done. You have cash in hand and your bank account was not used or even identified.

The problem with wire transfers is if you are the buyer and wire money away. It IS cash once collected and the transaction is over and non-reversible. The twist is that even though you sent the money to Great Falls Montana, it can be collected anywhere in the world with the transaction number. Someone in Nigeria can collect the cash.

But if you are the seller and collect the cash, the fact that the transaction is completed and you have your cash works to your advantage.

By "wire transfer" I am talking Western Union, NOT going through your bank!!!!!!

[48mirage]

This is not a new scam. Ebay has warned about this one in the past. I will gaurantee you that the check is no good and by the time you find out the transport company has delivered your car and you are out the amount of the check plus the bank's service fees. Also don't sign that title until you have CASH.

Jim

[Norm's Coupe]

If you are the seller and they wire money TO YOU, then it's as good as cash because once you collect, the transaction is done. You have cash in hand and your bank account was not used or even identified.

The problem with wire transfers is if you are the buyer and wire money away. It IS cash once collected and the transaction is over and non-reversible. The twist is that even though you sent the money to Great Falls Montana, it can be collected anywhere in the world with the transaction number. Someone in Nigeria can collect the cash.

But if you are the seller and collect the cash, the fact that the transaction is completed and you have your cash works to your advantage.

Pat, we do wire transfers on a very limited basis on orders. We do wire transfers to get paid on orders we ship to the government. In order to receive the EFT (electronic wire transfer) we had to supply them with our account number and bank routing number. That's the only place we'll do that with because the bank says anyone who can transfer money to us by wire can also take it out using the same numbers. Just a few months back we refused to ship to the state of Indiana because they said the only way they could pay was with a wire transfer. We do not want anyone else other than the US government to have that information and access to our accounts.

Suggest anyone thinking about this to first check with a bank officer. That's who told us the money can be transfered both ways, without you knowing it until it's too late. Even if you set up a special account to do the EFT and then move the money right away to your regular account you can still lose money. That's because if an EFT withdrawal comes through and that account does not have enough money in it, the bank can access the charges to your other accounts to cover the transfer, or put it against your overdraft protection. In either case you are responsible to pay it because you are the one who gave out the account number and routing to make the transfer. You should be able to find those rules in your account contract that the bank gives you and sends copies of any changes to the rules as they are made.

[Lou Earle]

CLAYBILL-----

What part of "cash in hand only" do you not understand."

If I by a ways off I send certified funds and buyer waits 10 or mor days.

If I buy locally I pay cash. All the rest is nothing but u being worried if he will get offended if you isnist on cash- if he does then inthe words of whoever - screw him keep the property.

[48mirage]

Turn one of the other ebay scams around. If this guy is in a hurry to get this vehicle have him send you the money Western Union.

[PatS....]

Pat' date=' we do wire transfers on a very limited basis on orders. We do wire transfers to get paid on orders we ship to the government. In order to receive the EFT (electronic wire transfer) we had to supply them with our account number and bank routing number. That's the only place we'll do that with because the bank says anyone who can transfer money to us by wire can also take it out using the same numbers. Just a few months back we refused to ship to the state of Indiana because they said the only way they could pay was with a wire transfer. We do not want anyone else other than the US government to have that information and access to our accounts.

Suggest anyone thinking about this to first check with a bank officer. That's who told us the money can be transfered both ways, without you knowing it until it's too late. Even if you set up a special account to do the EFT and then move the money right away to your regular account you can still lose money. That's because if an EFT withdrawal comes through and that account does not have enough money in it, the bank can access the charges to your other accounts to cover the transfer, or put it against your overdraft protection. In either case you are responsible to pay it because you are the one who gave out the account number and routing to make the transfer. You should be able to find those rules in your account contract that the bank gives you and sends copies of any changes to the rules as they are made.[/quote']

OK, Norm...never done it that way, I have only sent and received wire transfers via Western Union.

I would NEVER do it through my bank for a stranger.

If I had a business like you, different story, you usually know who you are dealing with.

However as far as eBay or such is concerned, cash or PayPal and even PayPal is out on a large purchase.

Cash is always best, in full, before the item leaves.

Cash talks, BS walks.

[PatS....]

Turn one of the other ebay scams around. If this guy is in a hurry to get this vehicle have him send you the money Western Union.

That will expose a scam pretty quick!!!

[claybill]

EEEEEE- Gads. i cant even sell my car without worries.

problem. there is no way to get the guy 10 states away to bring cash.

and i will not let the car go before $$$$$ in hand and irreversible.

thanks for the info on bank transfers..

bill

[PatS....]

has anyone here heard of a scam where ...when buying a car, he will pay half up front and pay the rest in 90 days when they pick it up...then all of a sudden they change plans, send a second check and will pick it up in a few days.....??!?!?!?!?! seems no time for checks to clear.

i think i am in the middle of one right now. we will see..

these guys are smart...smarter than we are in this instance.

does anyone know exactly ...'when your money is safe' and cannot be cancelled or called back.. some checks clear in 2 days...then others take a week..i have heard that a check can be stopped even a day after it has cleared..!!!

help advice. !!!!

Not sure about the US, but if there is a branch of his bank close by, you can take his check there and have it certified by his bank and then you are safe...at least we can do that here in the frozen north.

[Norm's Coupe]

Bill,

Pat is right. You can do the same thing in any US bank. I would have it converted to a bank cashiers check though, or cash itself. That way the money is immediately withdrawn from his account. A certified check only certifies that the buyer has the money in his account to cover the check, when the bank certified it. If that person should pull the money out of his account before the check is returned to the bank, it will bounce.

Just thought of another possibility this morning while reading this thread again. Again though, check with your bank to see the good and bad points before doing it. Plus, you have to make sure your bank will do it.

If your bank allows it, turn the buyers check into an electronic check. Not sure how that's done, but some stores and other places do that all the time today. The money is immediately withdrawn from the persons checking account the minute it's converted. If the money isn't there, the check bounces right away. I see a sign at the grocery store that says they do that. Also when I pay one of my credit card bills by check they convert it to an electronic check. See it listed on our checking statement each month that the check was converted.

Bottom line, before making any transactions like what's been discussed, check with the bank. A bank officer, not some teller.

[Normspeed]

EEEEEE- Gads. i cant even sell my car without worries.

Bill, I feel your pain. As a favor, I know you need more room, so you can store a 41 coupe at my place. Oh, and I'll need the keys so I can keep the cobwebs blown out for ya.

[Norm's Coupe]

EEEEEE- Gads. i cant even sell my car without worries.

problem. there is no way to get the guy 10 states away to bring cash.

and i will not let the car go before $$$$$ in hand and irreversible.

thanks for the info on bank transfers..

bill

Bill your not the only one that has trouble selling stuff due to possible scams. Here's a good example that happened to us that sticks out in my mind. Also read the last post I made, it may help.

EXAMPLE: Last year we received a small order by telephone from a company in Nigeria, Africa with offices in the US. Now, we all know that's the scam capitol of the world. The order was small and they were paying by credit card, so we took it. However, before shipping we still ran an in depth check to make sure the credit card was good and on the company itself. The did have offices in the US, if they didn't we would have just refused the order.

The customer wanted the order shipped via DHL Collect, using their DHL account number. We called DHL to pick up the order when it was ready and DHL refused to pick it up, even though the customer had a DHL shipping account number. When we checked with DHL they said they don't accept collect shipments going to Nigeria, has to be prepaid first, even though the customer did have a valid DHL account number. So..........we had to ship the order to the customers Maryland office so they could then get it shipped to Nigeria.

So........it seems everyone is cautious today and with good reason.