Advice for Selling Car without Being Scammed

drup on 17/01/2023 - 19:05
Last edited 17/01/2023 - 20:19 by 1 other user

We are selling a vehicle and have heard many stories online of how sellers are being scammed. From accepting forged cash, fake bank cheques or disputed EFTs. Wanting to inspect the vehicle or 'test drive' and with new cars being able to be driven without keys once started.

Meeting locations not wanting to be at a residential home or meeting at their preferred mechanic to be inspected.

I haven't been keeping up with how all these scams work so what is everyone's suggestion?

I've kept this post vague for my own safety but if there's information you require please let me know.

Automotive

Comments

  • Muzeeb on 17/01/2023 - 19:06
    +6

    Don't sell it. Too difficult by the sounds of it.

  • Jimothy Wongingtons on 17/01/2023 - 19:12

    Haven’t heard of forged notes before…

    If you’re suss on them then maybe go bank cheque and hand over keys and transfer papers once cleared?

  • CurlCurl on 17/01/2023 - 19:14
    +1

    Fake notes are easy to pick.

  • Wiadro on 17/01/2023 - 19:18
    +8

    just go trade it then.
    seems like you're making it an issue to sell

  • elgrande on 17/01/2023 - 19:30
    +2

    Accept cash only, meet in bank branch and have them deposit it into your account.

    Avoids issues with cancelled cheques and fake notes.

    • bmerigan on 17/01/2023 - 23:25
      +1

      Bit of an annoyance to get $30,000 cash though. I personally wouldn't really want to count or carry it either.
      I know I completely made up the amount.

    • bargaino on 18/01/2023 - 15:56

      If you are meeting in the bank (good idea), a bank cheque deposited works just as well.

      Even for a cheaper car, some people are not comfortable handling large amounts of cash.
      And banks don't even keep much cash on hand these days. The last time bought a car, the teller had to scrounge around to find it, said I should order ahead. I assume the vault had a time delay.

  • ozwog05 on 17/01/2023 - 19:43
    +4

    Business Idea: Open up walk-in centres with booths where money, keys & rego change hands. Transaction is supervised to ensure everything is above board with both parties. Charge per 15 min block.

  • randomusername2017 on 17/01/2023 - 20:01

    Ive kept this post vague for my own safety

    Is it one of these

  • TheMindsetTraveller on 17/01/2023 - 20:45

    Average car - take it to the dealer, sell if for cash or a trade in.

    Premium, exotic, collectable - take it to an auction house, they will sell your car for you.

    If you can't accept either method, just drive it because it is scary as hell selling a car, ooooooh, the ghosts are coming.

  • brendanm on 17/01/2023 - 21:22

    I've sold a tonne of cars and have never had any of these problems. Just use common sense.

  • Euphemistic on 17/01/2023 - 21:36

    Lots of scams, not that many scammers. Most buyers are legit, but it pays to be careful.

    Take some precautions:
    Only deal in person with the buyer. Talk to them, don’t let them talk you into anything you aren’t comfortable with. Maybe meet in a public place that isn’t your home, I don’t think this is necessary. I prefer to get a few messages in text/email for a record, then phone call and meet in person. .

    Go with them in a test drive if you aren’t sure - be aware that your insurance may not cover your vehicle if someone is test driving.

    Make sure you sight a licence before letting them drive. Take down their name and address and licence no if they won’t let you photo their licence.

    Online bank transfer can be instant on your phone if you don’t want to deal in a large wad of cash. Either that or go to a bank branch and transfer to your account.

    Only hand over keys after cash is received.

    Fill out the notice of disposal online the minute they drive away.

    If they get back in contact and complain about something wrong with the vehicle ‘no backsies’. Stand your ground and block if necessary.

    If you use Facebook marketplace the person will be linked to their profile you can check out. Yes these can be faked, but again, unlikely. Carsale, Gumtree etc give the buyer a bit more anonymity which isn’t great.

    • bargaino on 18/01/2023 - 15:59

      A bank transfer can sometimes be reversed if fraudulent. Cash or bank cheque is safest.

      • Euphemistic on 18/01/2023 - 16:31

        If youve got records showing that an instant transfer relates to sale of a vehicle the bank might reverse the transaction, but they’d be in the wrong for doing so.

        Bank cheques can be cancelled too, so you need to ensure that it is deposited immediately to reduce the chance it can be cancelled.

        I have cancelled a bank cheque previously as a real estate agent ‘lost’ one. Was an easy process.

        Cash is OK, but if someone comes at you with a knife it’s reversible too.

        • bargaino on 18/01/2023 - 18:27

          "Coming at you with a knife" is vanishingly rare compared to scams.

          Whether it is cash or bank cheque, for large amounts you meet in the bank and deposit it before handing over the keys.

          • Euphemistic on 18/01/2023 - 19:19

            @bargaino:

            "Coming at you with a knife" is vanishingly rare compared to scams.

            I reckon attempted scams are pretty frequent, especially the attempted oil worker one, but actual scams like false cheques and reversing bank transactions are just as likely as getting robbed of your cash.

            It’s not always possible to meet during bank hours. instant transfer is available 24/7. I’ve successfully used instant transfer to purchase and sell a 5 figure caravan. While standing in a driveway on a Saturday. Maybe I took a big risk, but IMO was worth it. Travelledg 8hrs to purchase caravan on a Saturday, would have had to wait for Monday morning for the bank, but was able to drive it home that afternoon (and stop overnight on the way home) ready for work on Monday.

            Everyone’s got their own risk profile. Read the room to determine your actions.

  • Barca123 on 17/01/2023 - 21:36
    +1

    Don't try to sell it to someone who claims to be working on an oil rig!

  • Ghost47 on 17/01/2023 - 22:09

    When I bought my car ~8 years ago, it was on a novated lease and the guy wanted the lease paid off before giving the vehicle away for no extra cost.

    I transferred the cash to him and he paid off the lease right there and then. He could have easily started randomly shouting things like "get away from me! This guy is trying to touch my penis!" or "get away from me! I will not sleep with you creep!" and then ran away with the cash.

    Amazing how times have changed.

    • Cleartripe on 17/01/2023 - 22:52
      +1

      Australia is still safe, and there still are such people. Its just the bad elements get the publicity

  • Cleartripe on 17/01/2023 - 22:48
    +1

    Try CARS24. Ofcourse, the rates are lower compared to private sales

  • Brick Tamland on 18/01/2023 - 07:42

    I've sold several cars and bikes. Dont panic or worry about it. Just use common sense! Go into any potential transaction with a set of rules, such as accompanying the test drive, not delivering car until cash is cleared and so on. Be prepared with the paper work. And just use your people skills to assess whether to buyer is genuine. One of my strategies is if I know a buyer is legit and reasonable I am happy to accept a lower offer to enable a hassle free transaction but you still need to get enough money over any wholesale trade to make the hassle of a private transaction worthwhile. If the wholesale price is only a few thousand less then I'd go wholesale to a dealer. it's just up to your tolerance of risk and potential hassle. good luck.

    Edit: in relation to scams. Red flags are:
    +buyer(scammer) insisting on using email or online messaging platforms and bad English. Do it the old fashioned way on the telephone call
    +buyer not inspecting the car in person. Honestly, I will not sell a car to someone who hasn't looked at in person.
    +buyer insisting on a particular payment method. You make the rules on what payment form is acceptable. Of course its a bit different if they are going through a finance company but if they are its probably legit.
    +buyer not negotiating price. I'd prefer an offer under my price as most scammers dont bother with the price.

    • kerfuffle on 19/01/2023 - 07:25

      Scammer also using the words ‘internet messaging facility’

  • Sinnerator on 18/01/2023 - 08:06
    +1

    Do handover/sale <after all inspections> at a bank. Deposit CASH CASH CASH via teller as part of handover/sale. Teller is trained to detect counterfeit notes. Smile at cameras.

    OR

    KFC use counterfeit note detectors, do transaction there and just buy $20,000 worth of chicken buckets.

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