Is this a scam? please help?
Answers:
Be VERY carefull of this!
There is a scam where a buyer will contact you and ask to pay by check.
What happens in this scam is:
You will receive an email saying "I am interested in buying "the item",or sometimes they will cut and paste the item into a template so it will say "Ford Thunderbird 5.0"
They will ask if you can receive a check for more than the asking price.You will be then asked to send the balance of the check to someone else.
car = $1000
check = $4000
balance = $3000
The check will be fake (to be sure,call up the bank that issued the check and ask them to check if the account exists.do NOT call the number on the check!)
The general assumption is that the check will "clear" in a couple of weeks.this is a bit misleading.
Your bank will "honour" the check in 7 to 10 days giving you access to the money(they are legally obliged to unless they are suspicious)
The check is not "cleared" until it is physically sent back to the issuing bank.this can take up to 6 months.
6 months after you have sent the balance to the scammer you are wondering why they have not picked up the car..and that's when the bank debits your account for the amount of the check.Its your fault.never the banks..
It doesn't matter if it is a personal check or a bank draft..they can both be forged as easy.
I hope you sell your car..but I wouldn't risk cashing a check from ANYONE you do not trust
Well, it sounds relatively safe if he is only going to collect the car after the cheque has cleared. there are people out there who don't mind purchasing unseen (tho I've always found it odd..)
If you are not comfortable with it, ask him to pay more directly, though really, paying by cheque is one of the most reliable ways, especially as he is happy to wait for it to clear.
Use an Escrow service for safety man.
there are scams out there where people use cashiers checks that are known to bounce, well after the sale has been made. i would use a service like paypal or something of that nature just to cover yourself.
If he would pay by postal money order, you'll be much more safe.
As long as the check (cheque) clears before you give him the vehicle, you should have no problems. When you deposit the check in your bank, talk to the manager, and see if they can verify the check. You want to be sure there is no way that after the normal clearing period, they can come back and claim a problem with the check (forged/stolen).
I have purchased two vehicles this way, I am in the the U.S. Army and needed them when I was stationed in Germany. The person who is purchasing the vehicle should have no problem in waiting for the Cheque, money order, or whatever to clear before he collects the vehicle. Make that a term of the sale. Your bank may offer the service of electronic funds transfer, this can be handled by your bank and his bank for a small fee.
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