First Time Selling a Very Expensive Car

LPoopyTrain on 01/10/2022 - 10:16
Last edited 01/10/2022 - 10:32 by 1 other user

Hi Everyone,

So a year ago I bought an expensive 4wd becuase I let me OzBargain principles down and let hedonistic adaption take over after a promotion/payrise.

Due to this terribad car market and supply chain issues I now find myself with reaffiremed OzBargain tight-arsed-living in the hope of retiring one day - but I can now sell the dumb car for more than I paid for it.

I've got a pretty good offer from a company that has paid a deposit and advises that they will deposit the full amount for the car once I have sent them some paperwork and confirmed receipt of the payment to my bank account. Then they will pick someone up to pick up the car. I have all their business details and they are NOT telling me that they are working on an oil rig or that their cousin will come and pick it up or I will need to paypal some money to the tow truck rah rah rah rah.

I'm kind of confused and scared… if they do a bank deposit is there ANY chance this could be a scam or they lodge a dispute with my bank and I lose my car and my cash. The lose of this cash will pretty much be the end of me.

Automotive

Comments

  • Baysew on 01/10/2022 - 10:25
    +3

    Sounds like you have some doubts.

    Are they a reputable company? Are they a LMCT?

    Seems very suss that a company would pay a deposit without documentation to a person and car unseen.

    I'm sure you wouldn't buy a car in that manner.

  • Keplaffintech on 01/10/2022 - 10:27
    +11

    As long as the car is picked up after and only after the full payment has been received into your bank account (you confirm by logging in etc), you should be good to go. Don't let the car go before this.

    • [Deactivated] on 01/10/2022 - 17:38

      If the 'buyer', has for example, hacked someone else's bank account and the account owner didn't authorize the transfer, such things can be reversed. You can get the same thing happen if you get a deposit and then they ask for it 'back' you transfer the money 'back' to them (actually a third person) and the original transaction is reversed due to fraud and you're out the deposit money and the 'refund'. If this is a scam OP might be half way into it already, and the scam might have nothing to do with actually picking up the car.

  • pegaxs on 01/10/2022 - 10:34
    +9

    No money in the account, no letty havey the car! simples!

  • Millikano on 01/10/2022 - 10:51
    +1

    Like all transactions, don't release the vehicle until it has been paid for in full. It's no different to a cheap car, just a higher dollar figure.

    It would also help to have someone sign a letter at the time of handing it over that says something like this:

    I, PoopyTrain, of Home Address, sell this vehicle registration ABC 123 to Business XYZ, of address, for Expensive Dollar Figure. The seller accepts that the vehicle is sold unencumbered and in as-is condition.

    Signed : You
    Date:

    Signed Them:
    Date:

    • Keplaffintech on 01/10/2022 - 19:31
      +1

      the notice of disposal is pretty much that contract, it states the sale price

  • [Deactivated] on 01/10/2022 - 10:53
    +2

    I'm kind of confused and scared…

    The lose of this cash will pretty much be the end of me.

    Whoa there, OP - red flag wording that suggests you may not be cut out for ANY risks with selling your 'very expensive car' to a company using electronic transfer of funds. Maybe try seeking out a buyer in person and using cash only or trading it in for an OzB approved Toyota or two.

  • Ocker on 01/10/2022 - 11:08
    -5

    How can an inanimate object such as a car be "dumb"? More like a person is the dumb one for buying it in the first place.

    • Euphemistic on 01/10/2022 - 14:00
      +6

      It can’t speak. It’s dumb.

  • elgrande on 01/10/2022 - 11:35
    +1

    What sort of paperwork?

  • Andy22 on 01/10/2022 - 11:54

    don't do it

  • thatonethere on 01/10/2022 - 12:04
    +2

    If they haven't seen the car and inspected it - seems very odd.

    Also they need to be there legally somehow to transfer ownership of the car - otherwise you still have liability for speeding fines etc.

    4WDs are still selling very well so keep it on the market and sell to someone who arrives in the flesh to inspect it. You can meet at your bank (or open an account at their bank) to do the final transaction.

  • Boioioioi on 01/10/2022 - 13:00
    +4

    Get them to bring a bank cheque and hand it to you at the bank, cash it at the bank with a teller. Then give them the car. Nothing to lose

  • dwillia on 01/10/2022 - 14:39
    +5

    I sold a car to a dealer without them inspecting it last year, they just sent a truck to pick it up

  • Euphemistic on 01/10/2022 - 14:53
    +1

    Get a receipt. Make sure you transfer the ownership to the company that pays you. Keep a record of who picks it up, including rego of the tow truck. Make sure the tow truck co is approved by the buyer.

    Can they reverse it? Possibly, but you’ll have a paper trail as to who took the car.

  • The Value on 01/10/2022 - 18:48

    Are they in the business of buying and selling cars? Or is it just someone looking to buy a car through their own business?

    Suss AF.

  • Ryanek on 01/10/2022 - 20:53
    +1

    Bank cheque my friend

  • solidussnake on 01/10/2022 - 23:02
    +2

    Sold my Evo sigh unseen to Dutton Auto they paid into my Account same day after I dropped it off man alot of you guys are paranoid….

    • Zeddiculus on 02/10/2022 - 08:12
      +4

      Same same, Duttton Auto (aka "Sell you Car Fast") called me as soon as I poseted the add. I called them scammers, but the guy was patient and encouraged me to try and sell it over the weekend. He would call on the Monday and if unsold, he would organise a guy to come to my home and do a thorough inspection, once done he would call back and make an offer on the strength of that inspection. We agreed to a price and he sent the money to my account. Once that was done and I transferred the money to another account (so it wouldnt be snatched back),
      Money in my hand, he then sent a truck to take it away after all vehicle disposal and tranfer papers were signed by the truck driver.

      All went according to plan and I now have solar panels instead of a second car woohoo.

  • HelpMeiCantSee on 02/10/2022 - 08:49

    For the love of god, it’s not a 300 is it?

    I’m so tired of scalpers listing for above rrp- the only comfort is someone is going to get smashed with LCT on the excess!

    • lew380 on 02/10/2022 - 11:46
      +1

      You would be a scalper too if you were smart enough to buy a 300 series at the right time. Get off your moral high horse ghandi.

      • HelpMeiCantSee on 02/10/2022 - 14:42

        Nope, I’m not interested in being a (profanity) inflating the market- exactly why I’m NOT selling my 300.

        Same as selling masks above rrp- it’s a dikhead thing to do, and I genuinely hope those doing it (especially dealerships) eat a massive pile of sloppy shite.

        FWIW, I ordered before the madness of $160k 200s started.

        Scalpers are scum, whatever it is they’re scalping.

        • lew380 on 03/10/2022 - 00:51
          +1

          Its the market, supply and demand, you cant hate the individual. Ive made money off scalping and been scalped myself, if you want something, pay market price.

          • HelpMeiCantSee on 03/10/2022 - 09:03

            @lew380: To a degree. Scalping = artificially eroding the market in order to make profit. In my ethical books, it’s just the same as the arseholes who hoarded masks and were flogging them off at $5+ each.

            Sure, supply and demand, but immoral and quite a duck move.

            I stand by my comments. Scalpers belong in the same slimy rotten heap as rent and bill dodgers.

  • wordplay on 02/10/2022 - 18:47

    Hi Poopytrain,
    did you manage to get a G wagon? quite few have been waiting for a while.

    • mini2 on 02/10/2022 - 19:24

      They were open to new orders a couple of weeks ago, but all the cars offered were $406k and above. All allocations are gone within 20 minutes.

      Meanwhile, there were 2 2021 cars for under $350k sold within a week, which is a far better buy IMHO if you don't care they've done 10-20k km. I think the days of flipping them are over if the US is any indication.

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