Folks Of Interest scam or not

How much are we talking about anyway? A $30,000 car? Most guys wont deal in cash, so a bank (and all their crap red tape) may be involved. $5,000? Cash and carry.

 

Hey even cash may not be legit..... sold my model A for 20K cash to a guy overseas his agent showed up with 20k in hundreds I asked him to come with me to the bank he said ok...... one of the bills was counterfeit the bank confiscated it immediately luckily he had other hundreds on him and replaced the bogus 100 but had he left I would have had to make it up....... he had received 10k in cash from 2 banks that morning and the bogus 100 was from one of the banks so he made it right.......... hell most of us can't tell a counterfeit bill from a real one anyway...........

 

27,000

 

I have never had a bank ask for registration on a vehicle loan.
Smells Very Fishy

 

Several states do not issue titles for vehicles over 25 years old- the registration is
all you need to document ownership other than a bill of sale-easy to fake the bill of sale.
Keeping your vin number private until the sale has been at least to the deposit stage
is only common sense.

 

Should be able to do a thorough search on the guy online, with out him know'in it. Be careful though, don't give anymore information out.

 

Chain Buddy....he's only two hours away?.....that's a clue right there - for all of youse guys....most would like a look see before "my bank" get's involved....

lawrence

 

look in Hemmings Motor News you will see a lot of cars for sale and the vin is listed in the add.

 

$27,000? He doesn't want to drive 2 hours to inspect a $27,000 car? Huge red flag.

 

OK. May be I was wrong. If he comes with cash and his trailer take the deal. I dont know about you all but now a days when I sell a car for cash . I take on of those brown pens for checking the money like they do in the store.It may upset the buyer but when getting that much cash you don't what to get burnt!Bruce.

 

Does the buyers bank have a branch office in your town? Why not have him meet you there and do the transactions there ... let the loan officers talk to each other, if needed...besides you could have all the paperwork notarized and check the cash for counterfeit...

 

My thoughts...no way I'd travel across town, much less two hour with 27K in my pocket...hence I could see the bank check...the buyer may have requested the registration copy, and used the "bank" as a reason, so as not to offend the seller...you know, the "well, my dad want to see...", sort of to deflect the suspicion/concerns the buyer may have.

Now that said (as others have mentioned), the car only being 2 hours away, I wouldn't be talking money at all, unless I'd seen the car in person...especially a 27K car...not like he (buyer) is lining things up for a 300 dollar parts car and doesn't want to waste a trip with a trailer...

So, yes, there are a few warning signs here, but I can't think of any reason not to show a copy of a registration and match the VIN to it.

 

Sometimes I would take out a loan to buy something while I'm trying to sell something else then pay back the loan later. Before the economy crashed I could get a loan pretty much no questions asked from my credit union. Now anything over $5K has to go direct to the person you're paying via certified bank check unless you have VERY good reasoning/documentation otherwise. This is the first thing I thought of when reading OP's post. Everyone is guilty until proven innocent these days.

 

When shopping for classic cars I have driven two hours or more plenty of times to look at the car.

What bank is doing a $27k "car loan" on a 55 Chevy? (Actually, you only said the car was a "55". That usually means 55 chevy.) They see it as a $5.00 car. They aren't car appraisers. They have no clue what they are looking at. Hell!!!! Most DMV offices have no clue what they are looking at when it comes to classic cars.

There is no shortage of buyers for 55 Chevys. Walk away from this guy. It doesn't add up. Oh! And SUNDAY??? Is your bank open on Sunday?

 

IMHO. Two hours away,27K, no negotiation,wants title info, SCAM!
What is the vehicle? 56 300SL?
Do you have a phone number and an address on him? Can you see the address on Google? Can you find him on WHITE PAGES with the phone number and address? You don't know for sure where he is or who he is.
At a minimum, I would need a wire transfer deposite to my bank to hold the car and no more info.
Tell him to come see it so you can see him.

 

Uh why does he have your vin? he wouldn't have chit from me, maybe my name. The bank wouldn't need registration either, like Tim Wit says all that can be handled between banks, neither bank is interested in stealing your car or pics of it to sell to someone else and leave you holding the bag.

Cool scam though, I got all your info, I run an ad collect the money and have some dumbass show up at your house to collect the goods. I like it. This maybe a good time for you to move your five five to your uncles place. And be damned sure that you keep all of your correspondence with this chump. maybe contact your local constabulary so that you got a paper trail even if they are reluctant to make a report.

 

Let's assume that the potential buyer is actually anticipating purchasing the vehicle. A VIN would be required from his insurance company for him to either transport it, or drive it home. Perhaps the buyer is simply being practical and assuming the sale. He's being proactive.
The paranoia on this forum is sometimes mindblowing ...

 

Cash is king. Find a more qualified buyer.

 

Ed just to be the devil's advocate; a couple of years ago when I was going to get my bike I called my insurance agent and let him know. I told him I didn't have the vin but knew what I was thinking about buying. I paid for a policy and he said to call him with the vin and he would email me my insurance papers. So I didn't have a "legal" insurance paper when I left the guys driveway but it was insured and that could have been worked out in an emergency.

if someone is going to finance something the bank does need the vin number, a small town bank may work around that with a good customer. A note on a classic is actually a personal note using the car as collateral, banks don't normally finance cars older than 10 years. Perhaps classics fall into a different category.

 

Agreed, there is a lot of paranoia on this forum but how can you not be suspicious of a buyer who won't drive 2 hours to look at a $27,000 car? I've driven that far to look at a front axle before buying it.

 

I bought a car recently from long distance and was getting stressed about get all the cash together quick enough for the seller. Called up JJ Best and got a classic car loan. Lots of forms I had to fill out, they send someone out to check the car was real, check the vin and shot a check off to the seller. Don't remember if they needed a copy of the registration, but they handled everything on their end with the seller directly. It was actually pretty easy and there are no early payment penalties on the loan.

 

I believe the auction site requires the VIN if you want to sell a vehicle there. After all I've read here, I wouldn't quash the deal, but I'd be extra careful. Since he has a bank involved, you should get your bank involved. If anything goes wrong, I'm sure the authorities will be more responsive to a complaint from a bank than from you. (Think "bank Fraud".)

 

This is the car Im selling. He gave me his bank and loan officers name but all I get so far is voice mail. Just got another call from a guy who wants to see it Fri. So maybe that will solve my problem if he buys it first.

 

I don't know about many of you out there, but I don't usually carry around $27,000.00 in my wallet (right now about $5). And if I was, I would be sweating bullets, and this may shound strange, but I am a terrible money counter and even if it was all $100.00 that is still 270 bills. Yea we all want to hide the true sales of our cars but I would rather go to a bank, hand over a chasiers check, or do as I have done a bank transfer. And I would what some time to make sure the title is good and clear,, this is not to say this poster has a bad title but he is selling to strangers not friends and family. And if the tables were turned what would he want before he shelled out this kind of money?

 

Not everybody that wants a vin number is a scammer. I've imported many cars from the USA to Canada. I get the seller to scan and email me a copy of the reg and a bill of sale. I take those along with my other documents to US border so when the car does show up is just straight through. No sitting for days on end.

 

chopped51,
you are absolutely correct not everyone is but 27K is a lot of cash and it only takes one out of the 100,000s of thousands of scammers out there to ruin your day. It is different dealing with a known HAMBer and someone who you don't know.

Let me ask you this would you drop 27K on a car two hours away without ever looking it over?

Typo41,
I am not sure that it is legal to carry 27K on your person any more. I think if you were walking around with that much cash someone may suspect you of being a dirty no good at the very least.

 

That's why I said check it with the brown pen like the stores do.I do.Bruce.

 

nice ride - hope other possible buyer that actually is coming to see it brings cash and takes it away.

 

An interesting thread, keep us updated on how this unfolds.

 

Will you take a check?