If things go smoothly, Snow White will have a new home in Malaysia

BE VERY CAUTIOUS.... WIRE TRANSFERS CAN BE REVERSED. EVEN A BANK CERTIFIED CHECK CAN BE REVERSED IF THE BANK HAS DISCOVERED SOMETHING WRONG AFTER THE TRANSACTION.

A COMMON SCAM GOES SOMETHING LIKE THIS.

JACK FROM INDONESIA WANTS TO BUY YOUR CAR. WIRE TRANS OR CERTIFIED CHECK. HE WANTS THE CAR PICKED UP THE MOMENT THE TRANSACTION HAPPENS. YOU LOOK IN YOUR ACCOUNT. $50,000 COOL ALL'S GOOD. PROBLEM IS FUNDS ARE SHOWING BUT HAVE NOT CLEARED YET. 48 HRS LATER THE BANK INFORMS YOU THAT IT WAS A FRAUDULENT TRANSACTION AND THERE IS NO MONEY. YOUR CAR IS ALREADY IN MEXICO GETTING LOADED ON A BOAT FOR DUBAI.

WAIT FOR BANK CONFIRMATION THAT FUNDS HAVE CLEARED.

quote:

I'll hand the car, and the signed title over to the driver, (after taking triplicate copies of everything, and sending copies to the buyer, as well as pics of the car on the truck, so he knows it's all going well.

Do NOT hand the original title to the driver with the car! Provide a copy of the title to the driver with the car. FedEx or DHL the original to the new owner.

Mike, a wire transfer is a cash transaction with a paper trail. It cannot be reversed once the funds have been deposited into your account (without a court order). People confuse deposits with wire transfers. When PayPal says they are wiring funds into your account, they aren't; it's just a deposit and can be reversed if either Bank deems something wrong with the transaction. A true wire transfer is the safest way to get paid for something. It's safer than having a briefcase full of cash delivered to your door. Don't sweat it. If you want your Bank to be able to track the wire, ask the sender to e-mail you a copy of the MT103. A Bank Teller won't have a clue what that is but the Bank's wire transfer dept will.

The key thing if the funds are "cleared". As Agustboy indicated. The transaction will show "pending" for several days on an international wire. Normally 3-4 business days.

Once cleared means the funds are deposited and available in your account. At that point all is good.

Still waiting on wire transfer to happen.

quote:

Originally posted by garth66:

quote:

I'll hand the car, and the signed title over to the driver, (after taking triplicate copies of everything, and sending copies to the buyer, as well as pics of the car on the truck, so he knows it's all going well.

Do NOT hand the original title to the driver with the car! Provide a copy of the title to the driver with the car. FedEx or DHL the original to the new owner.

As the car is going overseas you may be forced to hand the title to the driver as US Customs will likely not export the car without an original title to stamp.

I purchased a 50,0000.00 bob cat loader last year off crag's list last year . very stressful. I wire transfer money only after machine was loaded on truck. Once money was transferred you can not get it back.
A friend one time sold a Rolex watch. The buyer paid with credit card. He thought because he receiver confirmation number form credit card company, transaction was good. After couple weeks card company took back money said card was no good.

As the car is going overseas you may be forced to hand the title to the driver as US Customs will likely not export the car without an original title to stamp.[/QUOTE]

This is what was explained to me. The title needs to go with the car so it can pass customs at both ends of shipment.

quote:

Originally posted by mike the snake:
As the car is going overseas you may be forced to hand the title to the driver as US Customs will likely not export the car without an original title to stamp.

This is what was explained to me. The title needs to go with the car so it can pass customs at both ends of shipment.[/QUOTE]

That is correct Mike. I've sold 2 cars to Australia without issue. I kept copies of the title and completed Bill of Sale (for my records), scanned and emailed title & BOS to buyer then placed originals in envelope and put in the glove box. Wish you a smooth transaction.

Thanks!

The buyer asked me to forward the info to his banker (not sure why he couldn't have forwarded it himself), which I did, he the said he'd let me know when the transfer was sent.

There's a 15 hour difference between us, so some waiting might be involved (i suspect) because he was persistent about buying the car, and so I went from thinking it was a scam to this guy was legit.

So far our communications have been straightforward, I don't smell anything fishy yet. Waiting now that I've sent my info is difficult. I kind of expected the wire to happen immediately after i sent my info, but it looks like he's checking with his bank to make the transfer and/or checking to make sure MY info is legit.

I'm waiting in my holding pattern, loitering, hoping for that email that says "OK I've sent you the transfer".

Then I should be able to call the bank, confirm the transfer, wait for it to clear, and he has chosen his own shipping company.

I've asked for the shipping company info so I can check (for his sake) that there's no bad info online about the company he chose, but he won't/hasn't sent me that info.

I expect once the wire transfer is sent, he'll then want to talk about the logistics of the shipping.

Mike,

I really hope this sale happens for you without grief. Maybe I've read about too many scams and I'm being cynical. But why is he being so accommodating? What you've discussed is that at some point in time you will have his money and you will have the title to the car .. so he's doing something that if the shoe was on the other foot we'd never agree to. I'd have an "honest broker" like the bank, that would confirm that the $$ transfer was valid and then would send the title to the buyer before the seller got the money. It would hold in escrow the money and the title. Banks do this all the time.

I was reading on another car site yesterday how scammers go through the "I trust you" phase and then change the terms to get some money from the seller. So, just a word of warning .. don't let the sales prospective at "your asking price" cloud logic. Good luck.

quote:

there's no bad info online about the company he chose, but he won't/hasn't sent me that info.

I trust you have also done a thorough web search on the buyer and his bank?

Larry

Mike,

I hope all goes well with the sale, the risk is minimal your end as you hold all the cards here and you are not releasing the vehicle until you have confirmed money in your account. You should have the buyers bank details and a verifiable number to call to check the individual holds an account.

I have purchased multiple vehicles where I have wired money to a seller on trust that the vehicle is as described, but you do need to do some due diligence. My one rule though is never do business with anyone at arms length, if you cannot physically talk to them verify a number to call back and physical address etc. it's suspicious.

So when you say you have "communicated" with the buyer I do hope you mean a real conversation on the end of a phone. Malaysia is not known as the hot spot for Pantera's so I googled importing a vehicle and it is extremely difficult and expensive, that starts to rings some cautionary alarm bells for me.

Julian

No I hadn't done any searches on him or his bank. I'll do that for sure.

Since the bank account only has $25 in it, and I have the car and title, I figure I don't have anything to lose. IF this turns out to be a scam, I'll be changing all my bank account numbers, and CC numbers, and alert everyone to be on the lookout for any activity on ANY of my accounts, basically lockdown on everything.

He is sending the wire transfer to my account, and knows that until it clears, and I've cashes, or moved the money to another account, and I'm convinced that the money is secure, only then, will I let the car and title out of my hands, and he knows this.

SO, I'm still waiting for this wire transaction to happen. There's a 15 hour difference in time zones, so it may just be taking the extra day because he got the info late at night or something and couldn't act immediately. I''m hoping that is the case.

So far, everything has gone smoothly, we've communicated, although I HAVE asked for him to call me and he hasn't done that. He asked for my phone number but hasn't called.
I've also asked for his shipper's information, and he hasn't responded about that either.

All I know, is that if a wire transfer hits my account, and clears, I'm good to go. The car is his, and he has told me he's made his own shipping arrangements, so when I have the money, he can then pick up the car, not before.

The wire transfer DOES go through an intermediary bank (Wells Fargo I think) before it gets to my account, so I think when the transfer hits my account, I'm good. My bank told me it takes a day or 2 to clear once it hits them.

Fingers crossed, knocking on wood.

quote:

Originally posted by LF - TP 2511:

quote:

there's no bad info online about the company he chose, but he won't/hasn't sent me that info.

I trust you have also done a thorough web search on the buyer and his bank?

Larry

I did a quick search for him from Malaysia and got nothing.

It's also Saturday where he is now, so it may be that I have to wait til Monday for him to be able to send the wire transfer. I don't know if the banks in Malaysia are open on weekends.

Waiting sucks, and I'm kind of sketched out, but everything so far seems to be legit, so I'm not going to push, or try and rush anything.

After Monday, if I don't have the wire transfer, I'll get more aggressive about when he's going to send it, and if I smell a scam, I'll be changing the account numbers on all my accounts, and probably my credit cards as well.

quote:

All I know, is that if a wire transfer hits my account, and clears, I'm good to go.

You should ask and be told, perhaps in writing, under what conditions could the transfer be retroactively refused.

International, through multiple banks, and perhaps because ONE bank gives you your money another earlier in the chain may be the first to find a fraud.

Just know how solid your funds really are if things go south a week or two later.

If you never get shipper info, you may in fact have no idea where it is really being shipped to.

I'm nervous about this sale, especially in light of Julian's importation research.

Larry

google indicates there ia a Pantera in Mayalsia
http://www.motorme.my/dr-sedhus-detomaso-pantera-gts/

I'm getting leery about this sale too.

So far I've asked for him to call, or give me his phone number, no answer.

I've asked for his shipping company so I can check (for both our sake's) on the comapny, he hasn't replied.

After giving him the info, he then asked me to send the same info to his banker (the bank DOES exist, I checked) but I don't know why he couldn't have just forwarded the info himself.

He's 15 hours ahead of me, and it's the weekend, so I'm hoping he's just not able to do anything over the weekend, just like I wouldn't here in the US.

I've sent a couple emails asking if he had an idea as to when he might be able to send the transfer, with no reply.

I'm going to wait til Monday, probably noon, and then get aggressive with my emails saying shit, or get off the pot.

If I smell a scam, then I'll have to go through changing my account numbers and notify the bank to refuse any transactions unless personally authorized by me, it'll be a hassle, and a waste of time, and a big let-down for me.

I'm staying positive though, Monday Noon and he'll start getting emails like "I have provided you with the information necessary for the wire transaction we have agreed upon. Please send the wire transfer as we discussed. If I don't hear back from you in 24 hours, I'm going to think you are possibaly a scam, because you have not responded to any of my emails for 3 days now,you haven't called me as I asked you to do, and haven't given me your shipper, so I can check out that company, so I'm left wondering if you are serious, or just wanted my bank information for a scam. Please respond as quickly as possible, enough time has passed, you said you wanted the car and needed the info "really fast", yet now you've gone dark on me, so I have to make a conclusion".

I'm fine, the account has $25 in it, so no big deal there if he cleans that account out (if it's a scam) and I have the car and title.

Neither the car or title is leaving my garage until the transfer has happened, and then cleared fully, then I'll probably move the money to another different account, or cash it directly. Once I have the money, it's on him, I'll give him my address and tell him to get his car out of my garage! lol

Believe me though, the money will be secured, and positively MINE, irrevocable, THEN I'll give him the car and title, not before, no way, no how.

I'm giving him the weekend, I think it's safe to assume he can't do banking on weekends, just like I can't here (that's an assumption), but after monday afternoon, I'll get more aggressive, and then squash the whole thing if I smell a fish.

Mike, I may have missed it in an earlier post but have to ask. Did the buyer mention where they found the car advertised? If it was on this site He / she may be following along with this thread. I don't know if that would be good or bad , but it is something to think about.