How
does the scam work?
"The scam buyer, who is
overseas, agrees to buy your car and will send you a cheque for more than the
asking price to cover shipping costs etc. He then asks if you could bank the cheque
and send the balance to his shipping agent via a money transfer. The cheque bounces
but only after you have sent the cash to the shipping agent. This scam relies
on your ignorance of how the cheque clearing system works. Problems arise because
banks update their computers on day three of the clearing cycle. So if you check
with them at that time, you may very well be told that the funds are available.
It will only be on day four that the bank realises that there is a problem, and
on day five that they tell you. Weekends and Bank Holidays all add to the delay.
In one case the scam merchant was going to send the seller a cheque for £3,400
more than the asking price for the car. The seller was to subtract the cost of
the car and send the remainder to the shipping agent." So sellers
need to be alert to this scam and any approach they may receive from the scam
merchant!
| Ebay
advertisers - caution
One feature of trading on
eBay is worth mentioning and whilst it has a more general application, it could
arise as a consequence of a car advertised for sale on eBay. The seller advertises
an item on Ebay, but when contacted by the buyer replies that the item in question
has gone, but he does have another which he can sell to the buyer direct. If he
does sell direct to the buyer, it will be outside the eBay system of protective
measures for the buyer, although the buyer may not appreciate that and fail to
be as on guard as he should be. This caution is not a criticism of the useful
online trading facilities provided by eBay.
See eBay rules and protection.
More |
| Examples
of car buying scams |
Graham Bartholomew
received an email from the Rev Andrew Temilade which he feels looks like another
scam. The email is reproduced below in the form it was received including spelling
and punctuation mistakes. (30.11.04)
Goodday
Sir/Ma,
I will like to purchase the above Car which you advertised for sell
over the internet, i saw it during my search and i want to get it for my daugther
who is getting married soon,as her gift.I need to no the working condition of
the car, the final price which you want to sell the car. what will be the method
of payment.The easiest method of payment will be by bank draft.please get back
to me if you accept my enquiry so that we can proceed.Hope to here form you soon.
May his presence be with us always.Amen
Regards.
Rev,Andrew |
Earlier
Rick Morton reported a scam which members who are selling an MG need to
note. Rick says "I just thought I would update you on my experience
with trying to sell my RV8 recently before I withdrew it from sale. Both Jerry
Winfield (Woodcote Green 1684) and I heard from the same person but I also had
several other emails with roughly the same approach. Basically the person who
is overseas, agrees to buy your car and will send you a cheque for more than the
asking price to cover shipping costs etc. He then asks if you could bank the cheque
and send the balance to his shipping agent via a money transfer. The buyer's cheque
bounces but only after you have sent the cash to the shipping agent. This scam
relies on your ignorance of how the cheque clearing system works. Problems arise
because banks update their computers on day three of the clearing cycle. So if
you check with them at that time, you may very well be told that the funds have
been cleared and are available. It will only be on day four that the bank realises
that there is a problem, and on day five that they tell you. Weekends and Bank
Holidays all add to the delay. In my case the scam merchant was going to send
me a cheque for £3,400 more than I was asking for the car. I was to subtract
the cost of the car and send the remainder to his "shipping agent"."
| Richard
Smallwood reports "I have received an email today from a firm in America
which sounds a little suspicious to me?". The email is reproduced below in
the form it was received including spelling and punctuation mistakes.
Sir/Madam.
I am Mark White,manager of Mark autos, Ridderstraat 2320 Madison Street,
hollywood , Fl, Usa. We specialise in purchase of Autos (car and bike) for customers
here in America, and we get paid in commission, after payment has been confirmed
by the seller to the buyer. I write you on behalf of our client to contact you
and arrange for the buying and shippment of your vehicle which our client saw
on the Internet, we would like to know the conditions of the said vehicle and
probably arrange for payment to get to you and shippment.
My customer interested
in purchasing your car mentioned above for the sum of 9,750 ,and we will arrange
for the pick up of the car once payment is confirmed cleared by you. Please acknowledge
the offer and we will inform the buyer of your confirmation of acceptance to sell
and have the funds remitted to you as soon as possible, and I'll like this transaction
to be kept in utmost trust. I hope you can understand. Our office is located in
America, as stated above.
Thanks,
mark |
So members
need to be alert to this type of scam and any approach from these scam merchants!
See also the VSTAG and Metropolitan Police sites:
VSTAG
Vehicle buying and selling advice from the Vehicle Safe Trading Advisory Group
or VSTAG is a partnership venture launched by Autotrader, eBay Motors, Exchange
& Mart, the Finance & Leasing Association, Motors.co.uk, and the Metropolitan
Police. More
Metropolitan Police website
Very useful advice for car sellers
and buyers. More
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