Buying a Car
Thread Starter
2nd Gear Member
Joined: Dec 2005
Posts: 267
From: Greenville, SC
Buying a Car
Hey guys I'm in a pretty big rush to get this deal done, so if you could resond quickly I'd really appreciate it. I found a '69 Mach 1 online a while ago, and exchanged e-mails with a guy who was in La Porte Texas, but now is apparently in Milan, Italy. I'm going to attach a portion of the e-mail he sent me regarding the transfer, because it sounds a little fishy to me. He does want the mediating to be done by a third party to ensure neither of us get ripped off, but I've never done an escrow or wire transfer before, so any help would be great.
"The car belonged to my late brother who died 8 months ago serving in the UN peace keeping forces detached in Iraq. I am selling because I don`t like driving it, I am not really into classic cars, I preffer driving around in my 911 Porsche. I am located in Milano, Italy. My final price on this is US 7,200$. I know it seems a little low, but I will be quite happy to get rid of it, believe me, ever since my brother passed away, it just sits useless in my garage. If you will take this price, I am willing to pay for shipping and insurance to your location. I ONLY accept payment though a third party service, which will ensure the funds and hold them until you have the car there, and will guarantee I get the money after you have the machine. I do not know pretty much about these machines, but I will be happy to assist you in any way. Please get back to me asap if you decide to buy."
"The car belonged to my late brother who died 8 months ago serving in the UN peace keeping forces detached in Iraq. I am selling because I don`t like driving it, I am not really into classic cars, I preffer driving around in my 911 Porsche. I am located in Milano, Italy. My final price on this is US 7,200$. I know it seems a little low, but I will be quite happy to get rid of it, believe me, ever since my brother passed away, it just sits useless in my garage. If you will take this price, I am willing to pay for shipping and insurance to your location. I ONLY accept payment though a third party service, which will ensure the funds and hold them until you have the car there, and will guarantee I get the money after you have the machine. I do not know pretty much about these machines, but I will be happy to assist you in any way. Please get back to me asap if you decide to buy."
2nd Gear Member
Joined: Jun 2005
Posts: 325
From: San Diego
RE: Buying a Car
i don't know much about how the 3rd party deal works, but I'd feel a lot more comfortable dealing with someone in person...
plus you won't be able to see it in person or drive it....pictures don't show everything
also, make sure it isn't a salvage title
plus you won't be able to see it in person or drive it....pictures don't show everything
also, make sure it isn't a salvage title
Thread Starter
2nd Gear Member
Joined: Dec 2005
Posts: 267
From: Greenville, SC
RE: Buying a Car
Yeah in the portion of the e-mail i didn't include he states it has a clear title, that's included in the sale. And quite honestly I am really apprehensive about not being able to see the car in person, but I figure that at the price this would make a really good project car.
3rd Gear Member
Joined: Apr 2005
Posts: 640
From:
RE: Buying a Car
There a lot of scams out there, especially overseas. Most of the scams I have seen are where they are purchasing a vehicle from someone else, not selling. (they buy the car and offer "extra payment" or "full price" and use an escrow service that winds up being fake, or a check that doesn't clear). I would be very wary though.
Oh look I found one:
http://www.joewein.de/sw/fraud-bike-seller.htm
Oh look I found one:
http://www.joewein.de/sw/fraud-bike-seller.htm
Be careful when using escrow services to pay for expensive items from remote sellers, such as cars, motor bikes or computers. Only use well known escrow services with a proven track record. We have come across cases of attempted fraud involving high end sports bikes offered at very low prices to trick buyers into sending money to crimninals.
Here is how the scam works: Someone places an online ad for a car or motorbike. The bike is supposedly low mileage and in excellent condition but offered below market price. When a person is interested in buying it, the seller suggests using an escrow account to protect the buyer's cash payment. The buyer will pay the agreed purchase price by Western Union wire transfer to an escrow company. He will then have a chance to inspect the merchandise of the seller before releasing the escrow funds to the seller and taking possession of the goods and ownership documents, or so he is told. In reality the escrow company is a scam, with its website only a few days or weeks old. The person who picks up the payment on behalf of the fake company is the seller or an accomplice of him.
Here is how the scam works: Someone places an online ad for a car or motorbike. The bike is supposedly low mileage and in excellent condition but offered below market price. When a person is interested in buying it, the seller suggests using an escrow account to protect the buyer's cash payment. The buyer will pay the agreed purchase price by Western Union wire transfer to an escrow company. He will then have a chance to inspect the merchandise of the seller before releasing the escrow funds to the seller and taking possession of the goods and ownership documents, or so he is told. In reality the escrow company is a scam, with its website only a few days or weeks old. The person who picks up the payment on behalf of the fake company is the seller or an accomplice of him.
Thread Starter
2nd Gear Member
Joined: Dec 2005
Posts: 267
From: Greenville, SC
RE: Buying a Car
Yeah I too have seen those scams, but in this instance I'm not sure how he could win, since he's not supposed to be able to get the money until I take delivery of the car. I suppose my best course of action is to tell him which service I plan to use, like Western Union or the such. Any clues?
3rd Gear Member
Joined: Apr 2005
Posts: 640
From:
RE: Buying a Car
Yes, you are right. One thing that may make the difference is if YOU get to choose the escrow service. Mention this to him. Express your concerns and fears (IE: I have seen many scams on the internet, blah blah) and see if he balks at you choosing a legitimate escrow service. How did you hear about this car? Ebay? Collector car trader online?
Here is some more info BTW:
http://www.auctionbytes.com/cab/abn/y02/m10/i25/s01
Edit/Added:
I have heard that Escrow.com is legitimate. Do not let the seller send you a link to an escrow site. links can be changed, web sites can be made to look like real sites. When I was looking for my car I only searched within 250 miles of my home. WHen I did buy I met the seller in person (they were even nice enough to drive the car to my house from 100 miles away).
Here is some more info BTW:
http://www.auctionbytes.com/cab/abn/y02/m10/i25/s01
Edit/Added:
I have heard that Escrow.com is legitimate. Do not let the seller send you a link to an escrow site. links can be changed, web sites can be made to look like real sites. When I was looking for my car I only searched within 250 miles of my home. WHen I did buy I met the seller in person (they were even nice enough to drive the car to my house from 100 miles away).
Thread Starter
2nd Gear Member
Joined: Dec 2005
Posts: 267
From: Greenville, SC
RE: Buying a Car
Yeah I met the guy through classicsandcustoms.com, which seems to be a pretty reputable site. And oddly enough I also saw that thing about escrow.com, it's the only service that ebay trusts, so I'm going to insist on using them. Worst case, it's a scam and I get my money returned, best case it's legit and I get the car.