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Another scammer??

Discussion in 'Ferrari Discussion (not model specific)' started by FasterIsBetter, Jan 26, 2006.

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  1. Ken

    Ken F1 World Champ

    Oct 19, 2001
    16,078
    Arlington Heights IL
    Full Name:
    Kenneth
    #51 Ken, Jan 27, 2006
    That's fraud. Did he ever get a title? If not, he never owned the car; you can't claim a loss on a car you don't own. If he HAD a title then it's a different story.

    I'll buy an Enzo for $50, insure it for $500,000 (cheap compared to the value), and when the seller never delivers my car collect a half mil.

    My next post will come from Sing Sing I'm sure!

    Ken
     
  2. sjmst

    sjmst F1 Veteran
    Lifetime Rossa

    Jul 31, 2003
    9,854
    Long Island, NY
    Full Name:
    Sam
    #52 sjmst, Jan 27, 2006
    Good point. As seller, I would ask that the money be wired to my account and ask the bank to confirm that it is secure and there is no reversal. I could meet the buyer or his/her agent at the bank and transfer the car upon receipt of funds.

    Also, I know traveler checks are seldom used anymore, but may be good for this purpose.
     
  3. FasterIsBetter

    FasterIsBetter F1 Veteran

    Jul 22, 2004
    5,856
    NoNJ/Jupiter FL
    Full Name:
    Steve W.
    #53 FasterIsBetter, Jan 27, 2006
    Basically correct. Usually, they send a check that's drawn on a foreign bank. Those can take up to 30 days or more to clear through international banking channels. But your local bank will release the funds to your account in anywhere from 3 to 14 days, depending on bank policy. You call your bank, they tell you the funds are available, you write the check to the scammer's "transporter", he cashes your check at your bank, disappears with the money and maybe your car, and a couple of weeks later the bank tells you the check was no good and asks for the money back, including the part you paid out. You lose.

    The same thing can happen with fraudulent checks supposedly drawn on a U.S. bank where people are misled into believing that "certified check" is the same as cash. It's not. These thieves forge the certified checks, which you don't find out for a week or two. If you accept the check and pay money out believing it's good as cash, and it later bounces, you lose again.

    BTW, guess what? It's been 24 hours and surprise of surprises -- I HAVEN'T HEARD BACK FROM MR. SCAMMER. So much for that. Anyone want to buy a Mondial???
     
  4. jungathart

    jungathart Guest

    Jun 11, 2004
    3,376
    NoVA, AmeriKa
    Full Name:
    Komrade Jung
    #54 jungathart, Jan 27, 2006
    NO, it isn't fraud. I have bought 7 vehicles in the last 2 years, and telling the insurance agent you are adding a vehicle (with VIN) as soon as you have made the purchase assures you that anything that happens to it in transit (car transport or driving it back yourself), you are covered.

    Naturally, insurance protocols can vary from state to state. But get that very interesting book. The writing is most witty and sharp-edged!
     
  5. Ken

    Ken F1 World Champ

    Oct 19, 2001
    16,078
    Arlington Heights IL
    Full Name:
    Kenneth
    #55 Ken, Jan 27, 2006
    I'm no lawyer; when I bought my Lotus I did just that. But if I'm going to then make a claim, I would think the insurance company would want more than just a vin # and my phone call to prove I own it. Maybe I'm wrong?

    ken
     
  6. jungathart

    jungathart Guest

    Jun 11, 2004
    3,376
    NoVA, AmeriKa
    Full Name:
    Komrade Jung
    #56 jungathart, Jan 27, 2006
    Hi Ken,
    As above. The insurance agent naturally knows his side of the business, and would advise a customer accordingly.
     
  7. PJH

    PJH Karting

    Dec 18, 2004
    161
    NJ
    Full Name:
    Paulie
    #57 PJH, Jan 27, 2006
    I understand your point, but most cars bought on Ebay for example are bought "sight unseen'. I'm always amazed at folks who bid hundreds of thousands of dollars for an item with a seller with zero or limited history...I've also seen Ebay scams where guys get a decent rating by selling $5 items, then look for a bigger kill with the likes of a Ferrari or other high end car or item.
     
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