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Thoughts about long distance selling?


Mathew
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Have put the 2500s for sale on car and classics internet site . I have been contacted by someone who possibly wants to buy subject to a few extra pictures. Now the alarm bells come as he does not want to travel as its a 10 hour round trip and he will send someone to collect!? After an agreed price. It just does not sound right. He assures me that he as bought plenty of cars in the past like this. Am I being paranoid or are my doubts correct? Would value some options on this.

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Had a similar experience a few years ago when we sold our classic Mini. 

Chap phoned me, asked sensible questions. This was at lunchtime. He transferred the cash into my account, I got home at 5pm, shortly after a flatbed arrived and it was gone. I was a bit concerned, but as the cash was cleared into my account then I didn't see what could go wrong. OK,he could moan after, but not terribly likely if it was too far for him to travel in the first place.

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No worries as long as you get the cash first with none of this 'I'll write a bigger cheque to get cash back' type of scam. I've bought Triumphs all over the UK, right down to the South Coast (Eastleigh and Southend-on-Sea) and driven them home in a marathon session. I've also sold Triumphs which were collected on a flat bed, like Clive's, and the only concession I ever made was that as soon as the money was paid into that account, I transferred it immediately to another account to prevent the transaction being easily cancelled. No idea if that works or not but I never had to find out.

Just make sure the deal is final, you get the money, and there's no tyre kicking, dealing or backing out when the lorry arrives.

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I have done the same as well Mathew. If your car had been an automatic i would have done the same. I even bought my Stag last year "unseen" but as it was a dealer i could fight him through the courts....... But everything was fine, just make sure you have the dosh before you let it go  :) 

Tony.

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6 hours ago, Colin Lindsay said:

No worries as long as you get the cash first with none of this 'I'll write a bigger cheque to get cash back' type of scam. I've bought Triumphs all over the UK, right down to the South Coast (Eastleigh and Southend-on-Sea) and driven them home in a marathon session. I've also sold Triumphs which were collected on a flat bed, like Clive's, and the only concession I ever made was that as soon as the money was paid into that account, I transferred it immediately to another account to prevent the transaction being easily cancelled. No idea if that works or not but I never had to find out.

Just make sure the deal is final, you get the money, and there's no tyre kicking, dealing or backing out when the lorry arrives.

I don't think that will work, Colin!    Money paid into your account isn't tagged, it's just part of the the total.     If someone has a way to extract £X back from you, it'll work on whatever is left in there, even to the extent of overdrawing!

But yes, money in the bank is usually safe, unlike a cheque or any other 'promissory note'.

John

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2 hours ago, JohnD said:

I don't think that will work, Colin!    Money paid into your account isn't tagged, it's just part of the the total.     If someone has a way to extract £X back from you, it'll work on whatever is left in there, even to the extent of overdrawing!

But yes, money in the bank is usually safe, unlike a cheque or any other 'promissory note'.

John

I think money can be retrieved from your account, the fraudster just says it was a mistaken transfer, Andy bank fishes it back out.

Solution is to have an empty account, with no overdraft or similar on it, and transfer money out immediately it appears.

if it won't let you, the money may be hooky.

If they try to retrieve it, there is nothing there.

Do a bit of searching on the subject.

one way of guaranteeing the money is getting the buyer to pay cash into your account in a branch of your bank I think 

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Sad to say, very many have made mistakes and been unable to get the bank to "fish it back out".   From mistakes with online banking to outright scamming, there is law on mistaken payments  (Restitution: https://www.mondaq.com/uk/corporate-and-company-law/61868/recovering-mistaken-payments-the-law-of-restitution    ), but it needed a "voluntary agreement" bewteen the banks to protect people from scammers: https://www.moneysavingexpert.com/news/2020/02/funding-to-refund-money-transfer-scam-victims-extended-to-the-en/#:~:text=In May 2019%2C UK banks,negligent" in transferring the money.

 

 

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21 hours ago, thescrapman said:

Solution is to have an empty account, with no overdraft or similar on it, and transfer money out immediately it appears.

That's what I do. That account is used for nothing else, can't go overdrawn, and is kept open with about £100 in it. If I transfer the money out (and to be honest it's only for my own peace of mind, not any real method of hiding the cash!) it cannot be used to make any payments until the bank rings me and gets permission. If someone else cancels a transaction which has already gone through, then the bank will contact me for alternative funds, which tips me off that the buyer is trying to get his cash back, and if I say no to the Bank, no refund without reason or explanation, or return of the goods, then the repayment is declined. They don't refund and then ask me for the cash to repay them; they just decline on the basis of what is in the account: insufficient funds.

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On a slightly different tack, I am appalled at the current, modern attitude of sharing bank account details to make payments within a group of people, usually by mobile phone. I have been asked for my bank details to make a payment to me by numerous people that I know. My bank tells me not to give out account details for obvious reasons, but to do it by unsecured email or messenger service, to my mind, is asking for trouble. Maybe I'm just paranoid but I know that the majority of people don't have security software on their phones and the number of dodgy emails that I find in my spam box from people that I know don't have security worries me. I do, like Colin have a spare account to use as a last resort, but still don't like to use it.

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I sold a motorbike several months ago. Someone contacted me and wanted to buy it based on description and photos. He didn't want to travel due to distance, and wanted to arrange collection. I said no, i wouldn't hand the bike over to anyone other than the purchaser and the bank transfer in my case, would need to come from the purchasers named account. He understood, and I sold it a week later to someone else.

I got confirmation from the bank that the funds were cleared, no chance of getting the payment reversed  and then gave the new owner the  keys and paperwork.

Not just the risk of damage on route, joy riders etc. But the fact that the registration document needs to be completed and signed by the new owner before they drive off, otherwise there's the potential of speeding fines, parking tickets etc arriving weeks later.

Personally I just felt very uneasy, and it's not that difficult to travel view, pay, collect or arrange a trailer to collect at the time of purchase.

 

 

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12 minutes ago, Mark B said:

 

Personally I just felt very uneasy, and it's not that difficult to travel view, pay, collect or arrange a trailer to collect at the time of purchase.

 

 

Not always true Mark, being disabled i could not travel the 200 miles to view my Stag (wished i could :( ) So had to rely on the honesty of the guy i bought it off, and parting with quite a sum of money to someone i have never met... You do get the feeling if something is wrong though and should always go on a gut feeling. I have always gone with never having anything to do with money with people with a foreign voice as that is where most scammers are abroad!!! Please don't jump down my throat saying that is "racist" it's not... it is fact.   Though in saying that the guy i bought my Stag off was a Geordie, so he could class as a foreign voice :) 

Tony.  

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I sold my Santafe to a guy from Devon , we live in Bury St Edmunds . He had sold his car to a guy from London and both came here to complete the transaction . It took 3 hours for the monies to be transferred due to poor internet connection and banking cockups.  At times I thought it was a setup though I had the keys and documents and wouldn’t pass them until monies were in my bank . All ended ok 

Paul 

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1 hour ago, poppyman said:

 I have always gone with never having anything to do with money with people with a foreign voice as that is where most scammers are abroad!!! Please don't jump down my throat saying that is "racist" it's not... it is fact.   Though in saying that the guy i bought my Stag off was a Geordie, so he could class as a foreign voice :) 

I sold my last Mondeo to a Polish guy; never in my born life have I seen a more detailed inspection of any car for sale. He found absolutely everything that was wrong with it, over about two hours, but was happy to buy and apologised telling me that in Poland if you're buying a car you need to be really sure as there's often no comeback at all. Here in Northern Ireland our biggest danger is the land border, as a car on a test drive can be over the border in 15 minutes from where I live, and never seen again. We had a huge spate of plant theft a few years back, and any vehicle recovered was usually found chugging its' merry way towards the border on quiet roads in the late evenings. Occasionally the Irish Garda will do a blitz on border farms and return the machinery back North again.

That's my biggest worry over here; selling a Triumph to someone from across the border who is a genuine buyer and classic enthusiast, but whose bank is in a different country from mine.

 

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Update - Must of scared the buyer off. Well he asked for a price , I  gave him a price and have not heard back. So either was a, trying a scam. B, too much even though it was less than advertised . C who knows?

 

Had a few enquiries whether it is still up for sale but no comebacks . Only one view! Person liked the car and did not pick any faults but made an excuse and left. Think he needed to sell a car first.

So for now they are for sale but no effort to push and will carry on as normal. If they sell they do , I can keep it just means I can't concentrate on one and dry room to work on is limited.

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Cars especially projects are selling like hot cakes over here at present; another four weeks of lockdown means a lot of bored enthusiasts needing something to do. I just missed one by dithering... didn't really need it but would have liked it to tinker with... perhaps the mistake you made was leaving nothing for a new owner to do? :)

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3 hours ago, Colin Lindsay said:

Cars especially projects are selling like hot cakes over here at present; another four weeks of lockdown means a lot of bored enthusiasts needing something to do. I just missed one by dithering... didn't really need it but would have liked it to tinker with... perhaps the mistake you made was leaving nothing for a new owner to do? :)

Yes , without anything to criticize its hard to try and barter the price down.  

Work have given me a bonus , its enough to buy the paint for the next stage on the yellow spitfire, ie make it bright inca yellow. Or should I spend it on some 2k paint for the puma spitfire and an electronic ignition for the 2500s?

May have to start a voting system on what gets progressed!

A, paint yellow spitfire

B, blow over puma spitfire and electronic ignition for 2500s

C, paint puma spitfire and heated leather mx5 seats for puma spitfire

D, none or other?

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