Somebody wants to buy my car without seeing it!

vaio

Lum wrote: »

Yes, this is the scam I was alluding to before.

How it works is they "accidentally" send you a cheque for a higher amount, then ask you to give them the change in cash or via Western Union.

At any point up to 6 months later it can turn out that the cheque was stolen or otherwise fraudulent and the bank will then take the money back. The buyer then has your car and your money. Sometimes they don't even bother to collect the car.

For a £850 car I would be demanding cash.

Yep, agree on cash at this level and in fact at every level up to £10k

Not so sure about cheques, I thougth that UK cheques paid into a UK bank were covered by the 2-4-6 rule. After two days they start earning interest (0.000000001% currently!!) after 4 you can draw on it and after 6 it can't be reversed no matter what.

Rules are different for overseas cheques & drafts, your exposure lasts for longer on those

zappahey

vaio wrote: »

I thougth that UK cheques paid into a UK bank were covered by the 2-4-6 rule. After two days they start earning interest (0.000000001% currently!!) after 4 you can draw on it and after 6 it can't be reversed no matter what.

Don't know about 2 or 4 but 6 is definitely wrong. Fraudulent cheque payments can be reversed many months later.

vaio

zappahey wrote: »

Don't know about 2 or 4 but 6 is definitely wrong. Fraudulent cheque payments can be reversed many months later.

Nah, since 2007(?) UK bank have done the 2/4/6 system and after 6 days the cheque can't be reversed for any reason so ordinary Joe Punter who, in good faith, accepts a cheque as payment for something can be 100% sure the money is his after 6 days.

From http://www.chequeandcredit.co.uk/media/news/-/page/2121/

.......it is now five years since the banking industry introduced extra protection for cheque users via the 2-4-6 changes to cheque clearing time scales. These changes provide certainty for customers - at the end of the sixth working day after paying a cheque into their UK sterling bank account the money is theirs and they are protected from any loss, even if the cheque turns out to be fraudulent......

spacey2012

Quentin wrote: »

Next time don't allow a test drive unless he proves he has insurance cover!

(And ask for a deposit in cash before he drives if he only has third party)

Happened to my mate ! Bloke test driving drove straight past a bored Teignmouth traffic copper over the speed limit, "testing the acceleration" car got pulled, car was seized as driver had no insurance to cover him and my mate had no identity documents on him to prove he was the insured :eek:.
To add insult to injury, his insurance did not cover him to collect the car from the pound when he went to collect his car, only to drive it on the road..
A very expensive test drive.

Turned out the buyer only had third party fire and theft, so no cover for other cars.
All in cost him more than he wanted for the car to start with.

zappahey

vaio wrote: »

Nah, since 2007(?) UK bank have done the 2/4/6 system and after 6 days the cheque can't be reversed for any reason so ordinary Joe Punter who, in good faith, accepts a cheque as payment for something can be 100% sure the money is his after 6 days.

From http://www.chequeandcredit.co.uk/media/news/-/page/2121/

Oh, I stand corrected. Cheers