How To Lose 20 000 Selling Your Car On Line



You have your car listed for sale on​ the​ Internet and it​ looks like you​ have an​ easy sale. the​ emails are rolling in​ from interested buyers. But wait,​ a​ lot of​ these interested buyer may have a​ plan that will take a​ lot of​ your hard earned money.

Because we get into the​ details,​ there are four rules that you​ must follow not matter what. if​ you​ violate either of​ these rules you​ will lose your money:

1) Never accept payment which is​ not for the​ exact amount of​ the​ sale.
2) Do not assume that any cashier check or​ money order is​ valid.
3) Do not assume any payment if​ valid just because your bank gives you​ cash for it.
4) Another persons problem is​ not your problem to​ solve.

Before I explain these simple rules we will look at​ two actual emails I received from people wanting to​ buy my used car. I listed a​ price above market value as​ an​ experiment and did not believe anyone would answer my ad.
Both of​ these emails had IP addresses from outside the​ USA. in​ the​ first one an​ address and phone in​ the​ USA were given. you​ cannot rely on​ IP address,​ phones or​ postal addresses for identification of​ where a​ purchase is​ actually from.

First email:

HELLO,​

INQUIRY on​ YOUR CAR,​ PLEASE GET BACK to​ ME WITH YOUR ROCK BOTTOM ASKING PRICE AND the​ PICTURES if​ the​ CAR is​ STILL AVAILABLE.

HAVE a​ NICE DAY

JAMES THOMAS

[address]

[phone]

In response,​ I answered using an​ almost obscene name and told him the​ car was as​ described on​ the​ web and gave him a​ price that was higher than what I stated on​ the​ web.

If you​ notice he does not really ask any questions about the​ car. you​ can be pretty sure he emails the​ same email to​ thousands of​ people and cannot remember which email is​ about which car.

Mr. "Thomas" replies:

HELLO,​

THANKS FOR YOUR URGENT RESPONCE,​ HOPE ALL is​ WELL WITH YOU. AFTER CONSIDERING the​ PRICE,​ I HAVE ACCEPTED MAKING PAYMENT FOR the​ CAR. BUT the​ ISSUE is​ THAT I HAVE a​ FRIEND WHO is​ OWING ME HE WORKS WITH INTER TRUST FINANCIAL in​ CANADA BUT HE is​ PRESENTLY on​ VACATION in​ SAUDI ARABIA. I HAVE CONSIDERED USING the​ MONEY on​ THIS TRANSACTION,​ SO HE WILL BE MAKING the​ PAYMENT DIRECTLY to​ you​ WITH a​ CASHIERS CHECK,​ BUT the​ MONEY is​ in​ EXCESS of​ the​ PRICE of​ the​ CAR,​ SINCE WE HAVE AGREED on​ US$15,​ 100 FOR the​ PRICE,​ SO you​ HAVE to​ SEND the​ EXCESS to​ the​ AGENT THAT WILL COME FOR the​ PICK UP SO THAT HE CAN BE ABLE to​ OFFSET SHIPPING CHARGES. THEREFORE,​ I URGE you​ to​ PROVIDE YOUR MAILLING INFORMATION WHICH ARE YOUR LEGAL NAME,​ HOME ADDRESS,​ AND PHONE NUMBER SO THAT HE CAN BE ABLE to​ MAIL the​ CASHIERS CHECK to​ you​ VIA COURIER SERVICE. AND ALSO you​ ARE to​ STATE the​ PRESENT LOCATION of​ the​ CAR FOR EASY PICK-UP.THANKS as​ I WAIT to​ RECIEVE YOUR CONSENT on​ THIS TRANSACTION SOON.

THANKS AND GOD BLESS

JAMES THOMAS

Here comes the​ problem. to​ sell my car to​ Mr. "Thomas" I will need to​ violate all four rules I listed above. the​ bottom line is​ that Mr. "Thomas" will send me a​ cashiers for more than the​ amount of​ the​ sale,​ the​ bank will give me cash the​ day after I deposit the​ cashiers check,​ I will refund the​ extra to​ him (I am not "solving" his "problems"). My surprise will be that in​ a​ month or​ so,​ my bank will tell me the​ cashiers check was forged and remove the​ full amount from my back account; but I have already refunded the​ extra to​ Mr. "Thomas" so my bank balance will likely end up well below zero!

If I am lucky,​ I will be out the​ $5,​ 000 and find out before I actually sign the​ title of​ my car over to​ Mr. "Thomas"!

Here is​ another email which is​ basically the​ same. Again,​ they are not interested in​ any details of​ the​ car,​ though some scam emails do ask a​ few questions. They do not specifically mention a​ cashiers check,​ but instead refer to​ a​ "check payable in​ the​ US". the​ email also implies that the​ car will need to​ be shipped to​ a​ client. I will not comment on​ his horrible spelling.

Hello,​

my clinet is​ intrested in​ your car..if is​ still avalebbile please contact me. which you​ will receive a​ payable check in​ U.S. Hope to​ read from you​ soon.

Regards.

mark

We should add an​ additional rule,​ if​ you​ are not a​ professional in​ the​ import,​ export business,​ do not think about shipping your car overseas. Not for one second. Not even if​ the​ "buyer" has arranged for shipping. Even if​ it​ were legitimate (and it​ is​ not) you​ would be in​ for more headaches that you​ want.

We need to​ review the​ 4 simple rules again:

1) Never accept payment which is​ not for the​ exact amount of​ the​ sale.

Any normal purchaser will make payment to​ you​ in​ the​ correct amount. if​ someone has a​ check for the​ "wrong" amount it​ is​ not your problem to​ resolve. you​ are just trying to​ sell a​ car,​ your are not in​ the​ banking business! Really you​ should be selling your car to​ someone you​ see in​ person with cash or​ a​ check from a​ local bank you​ can verify at​ their bank.

2) Do not assume that any cashier check or​ money order is​ valid.

The FDIC issues regular reports about stolen and forged money orders and cashiers checks. it​ is​ not a​ rare event. you​ cannot assume any payment is​ valid unless you​ personally verify it​ at​ the​ bank that issued the​ payment,​ ie: by walking into that bank and cashing it.

3) Do not assume any payment if​ valid just because your bank gives you​ cash for it.

Under U.S. Banking Laws,​ your bank is​ obligated to​ "clear" cashiers checks in​ one business day. That means if​ you​ deposit a​ cashiers check today,​ your bank must allow you​ to​ withdraw cash tomorrow. That does not mean the​ payment is​ good. a​ forged cashiers check can take weeks for your bank to​ discover. When they do the​ entire amount plus service charges will be removed from your account! you​ see the​ trick?

4) Another persons problem is​ not your problem to​ solve.

Many of​ these scamsters develop involved stories about all kinds of​ problems they have,​ in​ this case a​ cashiers check for too much money. They offer you​ a​ bonus or​ easy sale for helping them solve the​ problem. in​ reality the​ only problem is​ that you​ will lose lots of​ money trying to​ "help" them.

Your only problem is​ to​ sell your car to​ an​ actual buyer,​ that has actually looked at​ the​ car and makes a​ payment you​ can actually verify (cash) at​ their bank. This will never include someone that wants the​ car shipped somewhere. it​ will never include someone that has a​ check of​ any kind for too much money.

No one will ever pay you​ an​ extra $500 much less an​ extra $1,​000 or​ $5,​000 for your car for helping them.

BOTTOM LINE Do not ever involve the​ "problems" of​ someone else in​ your transaction. Do not accept any "cashiers check" as​ valid -- no matter what the​ teller at​ your bank says.
The real question is​ who would buy a​ car they do not look at? But if​ you​ must sell your car to​ someone who is​ not local,​ please make sure you​ use an​ escrow service.





You Might Also Like:




Powered by Blogger.