|
|
|
a UK cheque which has cleared, even the ones you have paid extra for fast clearance can be withdrawn up to 28 days after cashing. The fee you pay for express clearance only checks there is funds in the account, not that the cheque is not stolen or forged. I'm not sure what the limit is on overseas cheques but I had one reclaimed after about 3 months. Last foreign cheque I ever took.
bank to bank or "wire" transfers can also be reversed. Not a lot of people know that. You could have money wired into you account by bank transfer and then find it is gone again.
PayPal? Google for the problems people have had with that, which is why I only take it for small value transactions.
Cash - how would you like to be left holding £8K worth of forged notes? Has happened.
This is why there is still a big market for Escrow services, but check you are using a legitimate one because there are so many Escrow scams out there too!
|
|
1937 Austin Street Rod - 1941 Wolseley Not Rod - 1956 Humber Hawk - 1957 Daimler Conquest - 1966 Buick LeSabre - 1968 Plymouth Sport Fury - 1968 Ford Galaxie - 1969 Ford Country Squire - 1969 Mercury Marquis - 1970 Morris Minor - 1970 Buick Skylark - 1970 Ford Galaxie - 1971 Ford Galaxie - 1976 Continental Mark IV - 1976 Ford Capri - 1976 Rover V8 - 1994 Ford Fiesta
|
|
|
|
|
|
Just to counter the doom, my sister in a not so rare moment of stupidity, once sold a car and took a cheque. The chap left with the car, paperwork, the lot. After everyone who knew her explained what a stupid thing she had done, she had mentally written the money off, expecting the worst. It turned out well though, the chap was honest and the cheque was good.
|
|
1986 Panda 4x4. 1990 Metro Sport. 1999 Ford Escort estate.
|
|
|
|
|
I once bought a car, of a guy I kinda knew, offered him a cheque, he said "do a bank transfer when you get home" so I drove off with the car, the docs, the lot and hadn't handed a penny over in payment.
Some people are trustworthy.
|
|
1937 Austin Street Rod - 1941 Wolseley Not Rod - 1956 Humber Hawk - 1957 Daimler Conquest - 1966 Buick LeSabre - 1968 Plymouth Sport Fury - 1968 Ford Galaxie - 1969 Ford Country Squire - 1969 Mercury Marquis - 1970 Morris Minor - 1970 Buick Skylark - 1970 Ford Galaxie - 1971 Ford Galaxie - 1976 Continental Mark IV - 1976 Ford Capri - 1976 Rover V8 - 1994 Ford Fiesta
|
|
kee
Posted a lot
Posts: 4,990
|
|
|
i'd expect some speeding tickets coming through and hope he hasn't used it to commit any crimes that have been captured on cctv.
|
|
|
|
|
|
|
Insurance wont pay out if the car does vanish and the money not turn up, he didnt take proper care of it and just gave it away on trust in effect, no reasonable buyer will expect to take a car without the payment being sorted.
|
|
Volvo back as my main squeeze, more boost and some interior goodies on the way.
|
|
|
Cheque fraud?retrowagen1234
@GUEST
|
|
he cant realy be had for speeding tho, with gatso your picture gets taken (just ask to look at the pic) if its a mobile unit some take photos others stop ya, hes gonna have some questions to answer when they realise he isnt the owner, in which case the police will have a record of him driving the car and his address for any follow ups.
WHEN the money comes thru , just make sure your mate backdates the log book to when he actually sold the car, that way any speeding fines that might be waiting in the wings , or worst case cops looking for the car!! will go to the new owner... or at least your mate will be able to say its sold, i don't own it, therefore the other guy did the crime.
on another note does he have the new owners address?
|
|
|
|
|
|
Jul 30, 2009 10:18:44 GMT
|
There's too many variables to this scenario but the end result is that the worst case scenario is being presented. I had the opposite situation when I bought a car in the US - saw the car I wanted and then paid for the vehicle and drove off - on the undertsanding that the owner would forward the "pink slip" to me once it came back from the bank who "owned" the car. Everybody in the office looked at me like I was stupid (perhaps..?) and said even if you've paid for the car the bank still owns the car as it holds the lien etc etc. I admit I was getting somewhat worked up and considering the possible outcomes of me visiting the chaps house to get the problem sorted out. There was a slight hiccup in the transaction process which made me consider going down to Walmart for a baseball bat and a balaclava but he called me back the next day to say he'd bring the "pink slip" round as he'd just received it from the bank - so it all worked out fine for me in the end I'd normally suggest the cash or bankers draft method - and also use a formal bill of sale that confirms that they own the vehicle etc.
|
|
Tell it like it is.... NOT how it should be
|
|
|
|
Jul 30, 2009 10:37:28 GMT
|
There are some good people out there so he'll not know until the money's available to withdraw from your bank account.
I had similiar worries when selling a car of a fair value and did a bit of research on it and terrified myself. Bankers drafts aren't really safe as they can be forged and even some escrow services can be dodgy unless you really do your homework. Cash is always king for me even though that has it's difficulties.
I even built myself a homemade tracker and hid it in the car. I bought a PAYG mobile phone for £10 and signed up for mobile phone tracking software. With everything turn off the phone's battery would last about 10 days, which would allow me to find it if it all went wrong. After then it'd just go flat and the car could slip off into it's new life.
gtd2000. I don't want to thread hijack here but I grew up in Galashiels. It's a small world.
|
|
|
|
|
|
Jul 30, 2009 11:17:12 GMT
|
fingers crossed for your mate, gotta be honest he has opened him self up to a royal tigerbumming there. does he have any verified details of the buyer (name address phone number?)
|
|
1974 Lancia Beta Saloon 1975 Mazda 929 Coupé 1986 Mazda 929 Wagon 1979 Mazda 929 Hardtop 1982 Fiat Argenta 2.0 iniezione elettronica 1977 Toyota Carina TA14 1989 Subaru 1800 Wagon 1982 Hyundai Pony 1200TL 2-dr 1985 Hyundai Pony 1200 GL 1986 Maserati 425 Biturbo 1992 Rover 214 SEi 5-dr 2000 Rover 45 V6 Club 1994 Peugeot 205 'Junior' Diesel 1988 Volvo 760 Turbodiesel Saloon 1992 Talbot Express Autosleeper Rambler 2003 Renault Laguna SPEARS OR REAPERS
|
|
|
|
Jul 30, 2009 11:41:53 GMT
|
I once bought a car, of a guy I kinda knew, offered him a cheque, he said "do a bank transfer when you get home" so I drove off with the car, the docs, the lot and hadn't handed a penny over in payment. Some people are trustworthy. Sure mystery machines is just after doing the same thing too I think.
|
|
|
|
|
|
|
Jul 30, 2009 12:04:55 GMT
|
[quote author=cort16 board=general thread=64787 post=872341 time=1248950248 I even built myself a homemade tracker and hid it in the car. I bought a PAYG mobile phone for £10 and signed up for mobile phone tracking software. With everything turn off the phone's battery would last about 10 days, which would allow me to find it if it all went wrong. After then it'd just go flat and the car could slip off into it's new life. .[/quote]
resourceful, but... if the cheque clears and then 28 days later is recalled your mobile phone has been flat for 18 days...
|
|
1937 Austin Street Rod - 1941 Wolseley Not Rod - 1956 Humber Hawk - 1957 Daimler Conquest - 1966 Buick LeSabre - 1968 Plymouth Sport Fury - 1968 Ford Galaxie - 1969 Ford Country Squire - 1969 Mercury Marquis - 1970 Morris Minor - 1970 Buick Skylark - 1970 Ford Galaxie - 1971 Ford Galaxie - 1976 Continental Mark IV - 1976 Ford Capri - 1976 Rover V8 - 1994 Ford Fiesta
|
|
|
|
Jul 30, 2009 12:05:53 GMT
|
I sold a car to a guy in the states for nearly 3 grand and he didn't even have my address. He wired the money to my account then waited three months for the car to be shipped. It swings both ways.
|
|
|
|
|
|
Jul 30, 2009 12:38:15 GMT
|
[quote author=cort16 board=general thread=64787 post=872341 time=1248950248 I even built myself a homemade tracker and hid it in the car. I bought a PAYG mobile phone for £10 and signed up for mobile phone tracking software. With everything turn off the phone's battery would last about 10 days, which would allow me to find it if it all went wrong. After then it'd just go flat and the car could slip off into it's new life. . resourceful, but... if the cheque clears and then 28 days later is recalled your mobile phone has been flat for 18 days...[/quote] True. It was actually a cash deal but the guy said he might bring a bankers draft, which I didn't want. What it did do was check where the car was parked for a couple of days so I had an idea where it would be if it all went wrong. It only cost about £15 quid all in.
|
|
|
|
|
|
Jul 30, 2009 12:38:55 GMT
|
not hard to wire a phone charger in as well, would have stayed live for as long as you liked then.
|
|
Volvo back as my main squeeze, more boost and some interior goodies on the way.
|
|
|
|
Jul 30, 2009 12:58:11 GMT
|
not hard to wire a phone charger in as well, would have stayed live for as long as you liked then. I thought about that but I didn't fancy setting the car on fire with my shonky wiring. No wires also made it easy to hide. You also have to remember to turn the ringer off.
|
|
|
|
|
|
Jul 30, 2009 12:59:14 GMT
|
not hard to wire a phone charger in as well, would have stayed live for as long as you liked then. Beat me to it. Also been wanting to say for a while I picked up on, and appreciate the fast show reference under your avatar.
|
|
|
|
|
|
Jul 30, 2009 13:21:12 GMT
|
|
|
Volvo back as my main squeeze, more boost and some interior goodies on the way.
|
|
|
|
|
your mate still waiting for funds confirmation?
|
|
Someone just shot the elephant in the room.
|
|