Car sale and the buyer wants to pay via a finance agent

as5606

I've sold car to someone who I've not met yet. They've paid £1000 via a bank transfer as a deposit and that arrived by the following morning of paying. He now asking me to invoice a car financing company called "go performance cars ltd" for the remaining balance and when he collects the car on Friday, he will call this co Sony who will send the money direct into my bank "instantly".

I want to make sure there will be no comeback on the money that is transferred of course and what if he defaults on the payments. Clearly I'm not signing any finance contract and if you think about it, a secured loan on a car isn't likely to be given to him who could just not buy the car and go swanning off to Barbados. Second question is how are they transferring this money "instantly" if the quickest I can do it is with CHAPS same day only.

Just a bit jittery

LovelyLeeds

Klaxon alert - walk away with the chance of selling your car for cash to someone who is not going to complicate things for you. Don't sign the registration document.

CLAPTON

well

you haven't said how much money is involved but 'faster payments ' can be made in 10 minutes or so


presumably you have internet access to your bank a/c so can check the funds have arrived; don't in any circumstances part with the car until the cleared funds are actually in your a/c

hcb42

say no....it feels like one of those "car on ebay" scams.....

cold hard cash will do. Or faster bank transfer which are practically instant now

EDIT: just reread the bit about you not having met them yet. Stinks of a scam.

RichGold

Walk away pal. I've bought and sold many vehicles and never heard of anything like this before, certainly not in a private sale.

Was this arranged before the sale? It doesn't sound like it was from how you worded it. Would you have accepted these terms before the sale was arranged? I didn't think so.
Advise him you'll proceed, only if he comes to your bank with the balance in cash prior to you releasing the vehicle, otherwise tell him to take a hike.

How were the funds placed in your bank account? Have they cleared yet? Be careful of this before you reimburse him.

Google found this:

broadspeed.com/car_dealers/45389/Go_Performance_Cars_Ltd

192.com/atoz/business/market-harborough-le16/car-dealers/go-performance-cars-ltd/bc956d42cc146dfc1e0b1e76f58cee820083de0a/comp/

hcb42

yes be vary careful, the normal scam is a refund made, then you are hit with a chargeback.

Colincbayley

A quick google of the name, brings up a car dealership in Leicester. Also, on companies house webcheck it shows a small exemption certificate for low earnings (Hardly what you would expect from a finance firm dealing in ££)

I'd give it a miss purly on the basis that very, very few peope will ever buy a car without even seeing it !!

Apples2

Dude! The fact that you are on here asking the question means you have serious doubts.

Tell the chump to take a hike.

You KNOW you are going to get scammed.

Foggster

They seem to be related to http://www.graemeoughassociates.co.uk/

Are you selling a performance car?

vax2002

It falls through, you refund the £1000 and it then gets charged back to your account and your £1000 in Debt, Its a textbook scam, call the bank tomorrow and ask the security team to look in to it.

LovelyLeeds

vax2002 wrote: »

It falls through, you refund the £1000 and it then gets charged back to your account and your £1000 in Debt, Its a textbook scam, call the bank tomorrow and ask the security team to look in to it.

And I thought the remaining balance was going to be the scam part. Ignore my post above saying refund the £1000! Definitely take vax's advice and ring your bank before you proceed any further.