deposit for private car sale

sush40

I have, as soon as I got home. Only thing in the red was the outstanding finance, but I knew about it.

Marktheshark

He should not be advertising anything, its not his car to advertise for sale.
You are not only likely to lose your £150 but all the money you pay him for the car and the car itself.

WALK AWAY !
Look for car that is owned by the seller, he has no more right to sell this car than that of a random strangers car.

straighttalker

Marktheshark wrote: »

He technically committing fraud by attempting to sell a car to which he does not own legal title, it belongs to the finance company .
If you think giving someone trying to commit fraud £250 of your hard earned cash is likely to work out well for you, then I am sorry to say, you are just going to have to learn such a lesson in life the hard way.

Walk away, find another car, con men are convincing.
He will probably be ringing his partner and your money is long gone.

How is he technically committing fraud? He has told the potential buyer that he is going to clear the outstanding finance prior to the sale going through so where is the fraud?

Lots of people have outstanding finance when they come to sell their cars. Most of them don't have the money to pay it off prior to the sale going through and them receiving the funds from the buyer. In these instances, the buyer usually pays the outstanding finance direct to the company and the balance to the seller.

Alternatively, a seller goes to a garage, the garage settle the finance and enrolls the seller in finance in a new car.

No fraud in any of the above. If you are so adamant, why don't you get the seller's details from the OP and report the seller to his local Police force.

chickendipperbabe

I wouldn't touch this with a barge pole myself.

Like above I wouldn't go so far as to class this as fraud but you have to be very trusting, depending on how much outstanding finance is owed and reason behind the sale. There's always the possibility the seller may renege on sorting the finance out.

Marktheshark

straighttalker wrote: »

How is he technically committing fraud? He has told the potential buyer that he is going to clear the outstanding finance prior to the sale going through so where is the fraud?

Lots of people have outstanding finance when they come to sell their cars. Most of them don't have the money to pay it off prior to the sale going through and them receiving the funds from the buyer. In these instances, the buyer usually pays the outstanding finance direct to the company and the balance to the seller.

Alternatively, a seller goes to a garage, the garage settle the finance and enrolls the seller in finance in a new car.

No fraud in any of the above. If you are so adamant, why don't you get the seller's details from the OP and report the seller to his local Police force.

The Clue is in the bit "The seller does not own the car".
DOH, really.
So by your definition I can offer to sell your car to people on the promise I will sort it out with you later and take a deposit on your car without ever asking if I can sell your car.
:rotfl:

RS2000.

Marktheshark wrote: »

The Clue is in the bit "The seller does not own the car".
DOH, really.
So by your definition I can offer to sell your car to people on the promise I will sort it out with you later and take a deposit on your car without ever asking if I can sell your car.
:rotfl:

Ok the Sherlock. Where has the seller made a false representation to make if fraud?

sush40

To be honest I dont think this is meant to be fraud, the seller only advertised the car a week ago; he's selling the car because he is going abroad in a few month, and told me he was worried the car wouldn't sell before then, so perhaps he hadn't planned to put it on sale that early (and therefore hasn't finished to pay the finance company). This could make sense.
He made me aware of the outstanding finance when I checked the car, saying he would sort it out. But I'm not happy with him doing it over the phone just before handing the full amount. I guess the seller only wants to finish the payment once he's sure someone is ready to buy the car.
But like chickendipperbabe said, you have to be very trusting..

Anyway another person was coming to view the car today.I decided not to secure the car and didnt pay for the deposit (i was at work and didnt want to do it by bank transfer without a receipt from him). I replied to him saying I would still consider the car but only if the finance was sorted and only if a written proof can be provided.

straighttalker

Marktheshark wrote: »

The Clue is in the bit "The seller does not own the car".
DOH, really.
So by your definition I can offer to sell your car to people on the promise I will sort it out with you later and take a deposit on your car without ever asking if I can sell your car.
:rotfl:

The majority of people don't own their houses. They are mortgaged. This doesn't stop them from offering the house for sale. Potential buyer puts down a deposit, contracts are exchanged, on the day of sale, monies are paid to the mortgage company to settle the finance and the balance is paid to the seller. This is exactly the same as the seller of this car is proposing to do.

You are such a !!!!ing !!!!!!.

Richard53

I don't think that is a good comparison. Buying and selling of houses is a very highly regulated process, with surveys, solicitors, estate agents and so on, and the interests of buyer and seller are fairly well-protected in law.


Whereas if someone decides he can't keep up the payments on his motor and sells it for cash without telling the finance company, there's not a lot the poor buyer can do when the finance co. turn up to repossess their property. He can try to find and sue the seller, but the seller is probably long gone.


For me, this deal would be too much of a risk. If I really wanted the car and nothing similar was available, I would tell the seller I would buy it, if and when he could show me proof that the finance was paid, and not be offering any deposit in the meantime. If that lost me the deal, so be it. Plenty more fish in the sea.

arcon5

Jesus Christ some people are being melodramatic!
You can hardly blame the guy for wanting a commitment before taking it off the market!
And he's offered a solution, a reasonable one!

a bank transfer is fine op - it's proof you sent him money. You know where he lives. Keep the deposit low of course the minimise the risk but no need for all the dramatics.