foreign buyer update

[Willard M.]

In my recent post I asked about an Abel Jones in the UK who had trouble with English who was interested in buying an advertised car. After comments on this board I told him that either cash or secure transfer of funds would be necessary. That was the last I heard from him. Another Nigeria scam?

Bill #2659

[Mike L.]

Re: foreign buyer update

I have a buyer from out of the country, also interested in purchasing my car. The buyer is from Austria he gave me a phone number also, when I called information to verfy what country it was Austria. We spoke and he wanted pictures and more information, after I told him that I recieved many inquires from out of the US he said that this is not a scam and he wasn't waisting my time. So fellow NCRS members what do you think?????

[Roger Legge]

Re: foreign buyer update

I know very little about it, but I have read of people setting up escrow accounts as a way to help protect against having your car essentially stolen.

Roger

[Roy B.]

Re: foreign buyer update

Take the usual precautions and sell him your Corvette. I've sold three cars over seas and had no problem.

[Rob A.]

Re: foreign buyer update

Regarding "Nigerian Scam", I received three separate $4000 cashier's checks, from three separate parties in Nigeria for a used honda I was selling for $2000. The scam was that I would deposit the $4000 in my bank and western union the additional $2000 back to the buyer to cover the cost of shipping the car to Africa. Bottom line, of course, I would be out the $2000 when my bank came after me for the bogus cashier's check. Amazing, but true, you can actually read about it under "Nigerian Scam" on google.com.

[John M.]

Re: foreign buyer update

I agree with Rob. If you sell your car to one of these guys, make shure that the check is cleared by your bank before proceeding. The dead giveaway is the buyer sending too much money and asking you to return the excess to him! Your payment back to him is long gone before your bank bounces the original bogus cashier's check, and you are out the money you sent back. Any transaction that asks you to return a portion of the original payment to him, is a scam! If the buyer is willing to deal through an escrow agent of YOUR chosing, or is willing to wait for shipping until the funds are certified, then I would say to go ahead.

Regards, John McGraw

[Tony Merendino]

Re: foreign buyer update

Most US banks have offices worldwide and any transaction I do overseas must be drawn on a US bank. That way the monies clear much quicker and if you have to followup it is much easier to do here in the US. This goes for letters of credit, checks or drafts. With foreign banks it can take weeks to find out you have a problem.