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scam
Legacy_user
Posts: 0 Newbie
How does it work?
You advertise your used car for sale in a newspaper classified ad or on an "auto trader" website. Your car may be one that is in less-than-perfect condition and has high mileage such that it may be difficult to find a buyer. You are anxious to sell.
You are contacted by an interested buyer who wants your car and is willing to pay your price, sight unseen. He tells you that he lives in Africa and that he will arrange to have the car picked up and shipped to him. He offers to send you a cashier's check right away.
You receive the cashier's check but the amount is more than the agreed-on price of the car. You deposit the check at your bank. The bank credits your account for the amount of the check, although the check has not actually cleared yet.
Uh-oh! Something's wrong
Meantime, the buyer contacts you again and tells you he mistakenly sent you too much money, and asks you to send him a money order or cashier's check for the excess amount, which might be a few hundred or a few thousand dollars. You do it.
A day or so later, the buyer contacts you again and informs you that he has changed his mind about purchasing your car, and asks you to send him the rest of the money. You do it.
It gets worse
The bank calls you a few days later and informs you that the cashier's check from the buyer is counterfeit and worthless. They debit your account for the full amount of the check.
They now want you to make good on the checks you've written from your account. Whatever money of your own that was in your account is now gone. The bank claims no responsibility in the matter.
You're out of luck
The "buyer" was using a bogus name and can't be located. You still have your used car and now owe the bank a substantial amount of money.
The details on this scam may vary, but the basic operation is always the same: bad cashier's check in payment for a used car, followed by a request for refund before the check clears the bank.
Don't get caught in this one. Many people have.
Anti spam: Do NOT contact me offering services or anything of a commercial nature
You advertise your used car for sale in a newspaper classified ad or on an "auto trader" website. Your car may be one that is in less-than-perfect condition and has high mileage such that it may be difficult to find a buyer. You are anxious to sell.
You are contacted by an interested buyer who wants your car and is willing to pay your price, sight unseen. He tells you that he lives in Africa and that he will arrange to have the car picked up and shipped to him. He offers to send you a cashier's check right away.
You receive the cashier's check but the amount is more than the agreed-on price of the car. You deposit the check at your bank. The bank credits your account for the amount of the check, although the check has not actually cleared yet.
Uh-oh! Something's wrong
Meantime, the buyer contacts you again and tells you he mistakenly sent you too much money, and asks you to send him a money order or cashier's check for the excess amount, which might be a few hundred or a few thousand dollars. You do it.
A day or so later, the buyer contacts you again and informs you that he has changed his mind about purchasing your car, and asks you to send him the rest of the money. You do it.
It gets worse
The bank calls you a few days later and informs you that the cashier's check from the buyer is counterfeit and worthless. They debit your account for the full amount of the check.
They now want you to make good on the checks you've written from your account. Whatever money of your own that was in your account is now gone. The bank claims no responsibility in the matter.
You're out of luck
The "buyer" was using a bogus name and can't be located. You still have your used car and now owe the bank a substantial amount of money.
The details on this scam may vary, but the basic operation is always the same: bad cashier's check in payment for a used car, followed by a request for refund before the check clears the bank.
Don't get caught in this one. Many people have.
Anti spam: Do NOT contact me offering services or anything of a commercial nature
0
Comments
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If you are stupid enough to fall for this one - it's your own fault!This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0
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Anti spam: Do NOT contact me offering services or anything of a commercial nature
unnnnnnn-lucky... you've put your email address on the net and available for all spammers to pick up and spam you to death0
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