\Why You Don't Pay Cash For Cars From Strangers

[whitetop]

Couple went to buy an old Mustang, took cash and they have dissappeared

http://www.dailymail.co.uk/news/article-...Craigslist.html (http://www.dailymail.co.uk/news/article-2925514/Fears-retired-couple-missing-going-meet-car-seller-met-Craigslist.html)

[69LM1]

And bring your friends smith and Wesson.

True story, when I went to get the 70 L78 Camaro "33k cash only" in Ft. Lauderdale I had two friends nearby armed and a radio transmitter on where they could hear everything. The seller was also apprehensive and had a counterfeit money testing unit and pen on site with a few friends.

Rich

[whitetop]

A friend of mine drove to Alabama last year to buy an old Corvette..took 2 burly friends with him (and packing)drove 14 hours went to the address and the people said it was a scam..other had been sent there also.

[MosportGreen66]

When Dave and I bought our Z28, the seller made us go to his bank to ensure the cash wasn't fake...

[69L78]

Yes Dan, Kerry was different.

[MosportGreen66]

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: 69L78</div><div class="ubbcode-body">Yes Dan, Kerry was different. </div></div>

Lol, no joke right Jeff...

This is also the same guy who greeted us double fisting a couple beers <<GRAEMLIN_URL>>/haha.gif <<GRAEMLIN_URL>>/beers.gif

[Tracker1]

I hope they turn up ok, they look like nice folks...

[Day2_69Z]

I sold a ZL1 engine to a Canadian buyer...he sent 5 Wells Fargo Checks through customs via USPS. just to make sure the monies were OK.
Intercontinental transactions should all be this easy.

I have no clue why such a seasoned couple would risk there lives with cash on hand going to a strangers place.
I hope it ends well

[chevelleheart]

Just as another word of warning, ...I had a city of Calgary police officer who plays on our old guys hockey team , say that their commercial crime division has at least 20 &quot;FAKE BANK DRAFTS&quot; per week just in Calgary alone, and its the same all over North America , and this is Bank Drafts from real banks , that are so legitimate looking that people never suspect that they are fake. So I would saythat caution is definitely warranted, and even checking to see if cash is real,.....docent sound that bad to me...the best way I've found is to have the funds wired to your a count and wait 7-10 days to send the car.....

Makes it tougher for the buyer,...but if your the guy with the car.....

[earntaz]

Authorities in Georgia have issued an arrest warrant in connection with the case of a missing elderly couple who have not been seen since they responded to a Craigslist advertisement about a car.

Here's hoping the authorities find the couple safe!!

[ds1]

Sadly unidentified bodies and the suv the couple was driving have been found. Pray for the family. It is a sad day for all car lovers

[whitetop]

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: chevelleheart</div><div class="ubbcode-body">.the best way I've found is to have the funds wired to your a count and wait 7-10 days to send the car.....

</div></div>

Why do you have to wait 7-10 days? A friend of mine sold a motorcycle to a guy in Japan, funds were wire transferred..the bank put them in my friends name and next day two guys came and boxed up the bike and he gave them the title.

Can they take back the funds? The bank told my friend once they had the money and in his account it was gold.

[Bill Pritchard]

I have never heard of any potential pitfalls in regards to wiring money to an account. If I was to wire money to someone's account and they still wanted to wait 7 - 10 days, we wouldn't be doing business <<GRAEMLIN_URL>>/no.gif

[Billohio]

I asked my bank about wire transfers and they acted like the money could be with drawn back to the sending bank. They were not 100% sure. I thought i should get a separate account to have the deposit made then put in my account.
Anyone have any ideas?

[whitetop]

I just spoke to my friend about this earlier. He checked with his bank before the transfer from Japan..He said the bank sending the money honors the transaction and once transferred it cannot be pulled back.

Maybe different levels of wire transfers..i.e. if a guy gives a bank a check from another bank (A) to bank (B)and (B) transfer the money to (C) and then the check bounces B pull it back form (C)

..but my friend said his bank told him as soon as it was in his account it was as &quot;good as gold&quot; per his bankers terminology.

[markjohnson]

I know direct deposit payroll deposits aren't the one-way-street that most people think. I was overpaid on a paycheck and the employer was able to suck the difference right back out from my checking account without my consent. That's an uncomfortable feeling.

[Billohio]

I have had that also. I use direct deposits on my grain checks and they can take it out when there's a mistake.

[427TJ]

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Billohio</div><div class="ubbcode-body">I asked my bank about wire transfers and they acted like the money could be with drawn back to the sending bank. They were not 100% sure. I thought i should get a separate account to have the deposit made then put in my account.
Anyone have any ideas? </div></div>

I set up a separate account, tell the buyer the account number and any other routing info and wait for the money to move. Once it's all there the car is free to go. As soon as the money's in my account I move it out of that account into another account. My bank has never heard of someone &quot;taking the money back&quot; after it's been wired.

[Vern B]

We buy and sell construction equipment all over the world and exclusively use wire transfer for payment. Once it enters your account it cannot be retrieved. All foreign transactions are Central Bank transfers and are similarly protected.

[Kurt S]

&gt; Different wire transfer systems and operators provide a variety of options relative to the immediacy and finality of settlement and the cost, value, and volume of transactions. Central bank wire transfer systems, such as the Federal Reserve's FedWire system in the United States are more likely to be real time gross settlement (RTGS) systems. RTGS systems provide the quickest availability of funds because they provide immediate &quot;real-time&quot; and final &quot;irrevocable&quot; settlement by posting the gross (complete) entry against electronic accounts of the wire transfer system operator.

This has good info on wiring and ACH payments.
http://www.reba.net/news/wtransfer

[John]

.... Here is more info on the couple

.... I do not think I would be as forgiving as the daughtes of this couple are.

Follow up article on couple. (http://www.aol.com/article/2015/01/27/bodies-found-after-ga-couple-lured-by-craigslist-contact/21135333/)

<<GRAEMLIN_URL>>/frown.gif

[earntaz]

I set up a separate account, tell the buyer the account number and any other routing info and wait for the money to move. Once it's all there the car is free to go. As soon as the money's in my account I move it out of that account into another account. My bank has never heard of someone &quot;taking the money back&quot; after it's been wired.

Bill -- same here ... once the $$ are deposited, move it to another account ... done deal.

[SuperNovaSS]

Wow, what a horrible outcome.

Jason

[Dave Rifkin]

I hope there's a special place in hell for people who would do such a thing.

[WILMASBOYL78]

Terrible tragedy...hopefully justice will be served and the bad guy will get what he deserves.

wilma

[x77-69z28]

I would like to tie him to a 66Mustang, and drag him.

[WILMASBOYL78]

http://www.msn.com/en-us/news/crime/suspect-charged-with-murder-of-missing-georgia-couple/ar-AA8DTil


The article mentions that the husband was a Vietnam Vet...sad times we live in <<GRAEMLIN_URL>>/flag.gif

[mssl72]

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: x77-69z28</div><div class="ubbcode-body">I would like to tie him to a 66Mustang, and drag him. </div></div>

Tie one end to the Mustang, the other end to a telephone pole and hit the gas.

[miket1]

It was one the news police caught the guy, if we would get tough on criminals instead of dragging it through the courts with delays for 20 years,, give them what they give, this young guy should be shot.