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Selling car buyer wants to pay by bankers draft

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    #62
    mgbgt1978
    Registered Users Posts: 4,230 ✭✭✭mgbgt1978


    Domestic maybe, foreign ones could take up to 30 days to clear properly.


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    #63
    Anan1
    Registered Users Posts: 22,818 ✭✭✭✭Anan1


    mgbgt1978 wrote: »
    Domestic maybe, foreign ones could take up to 30 days to clear properly.
    The buyer is coming from Dublin.


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    #64
    Henry Ford III
    Moderators, Business & Finance Moderators Posts: 17,634 Mod ✭✭✭✭Henry Ford III


    Bigus wrote: »
    Bank teller confirmed on the phone to confirm all was in order with funds cleared

    so vendor delivered car from south midlands to dub to custody of my son,

    recovery/delivery guys picked it up out of business hours after purchaser came up with numerous changes of collection time that all seemed plausible, and then needed car in a panic for the weekend.

    Vendor rang two days later to say bank were on and funds hadn't in fact cleared, garda took it up from there, car gone. Book sent to shannon, Audi A3 diesel 05 in case you think I'm spoofing. I don't know final outcome.

    I buy and have sold cars no prob with bank drafts but lately I'd be a lot more circumspect, a lot has to do with who you are dealing with.

    Story on boards recently where vendor got purchaser arrested with false bank draft, lady and two lads lifted if memory serves me correct.

    I don't think you are spoofing at all Bigus, but I still don't understand how a validated draft can fail to pay. They cannot be cancelled at a whim (only in the event of loss). They are a cashable instrument.

    Also who signed the VLC and what name address was given? For the car to have been worth anything more than parts a new VLC (title) would have been required.


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    #65
    Henry Ford III
    Moderators, Business & Finance Moderators Posts: 17,634 Mod ✭✭✭✭Henry Ford III


    Bigus wrote: »
    ...Story on boards recently where vendor got purchaser arrested with false bank draft, lady and two lads lifted if memory serves me correct.

    Calling the issuing bank would have identified this in a hurry.

    "I'd like to verify a draft drawn on your branch please. Draft number is 123456789, made payable to HFIII, in the amount of €20,000."

    "There's a problem with that draft Mr. Ford, the Gardai have an interest in it. Could I pass them on your number please?"

    "Sure".


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    #66
    Sunshine87
    Registered Users Posts: 84 ✭✭Sunshine87


    I sold my car yesterday and was paid by cheque - usually i'd be wary of having a stranger give me a cheque, but i just think if you have a feeling something is dodgy, then don't go through with the deal.

    All the cars i've bought were through bank drafts, as the banks wouldn't hand me over 9000 in cash in one transaction.


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    #67
    Fred Swanson
    Closed Accounts Posts: 21,730 ✭✭✭✭Fred Swanson


    This post has been deleted.


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    #68
    Sunshine87
    Registered Users Posts: 84 ✭✭Sunshine87


    Fred Swanson wrote: »
    This post has been deleted.

    It was a car loan though, and there was never an issue for me or the seller.


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    #69
    mgbgt1978
    Registered Users Posts: 4,230 ✭✭✭mgbgt1978


    Anan1 wrote: »
    The buyer is coming from Dublin.

    The OP hasn't stated which bank issued the draft.
    The buyer has told the OP that they are coming from Dublin, this may be true....or not.
    The buyer may well be a foreign national with a draft from a different country.....or not.
    The draft could easily be part of a stolen batch.

    The seller could ring up the issuing bank (if the buyer is prepared to give him the details), but that bank will not tell him anything until they have verified that this is OK with the buyer.


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    #70
    howardmarks
    Registered Users Posts: 641 ✭✭✭howardmarks


    If I was a buyer and I really wanted said car which based on facts presented
    A. Willing to drive across country
    B. happy to pay asking

    Then surely I'd have no bother complying with any wishes seller has. Namely bringing cash or Half and half or sending copy of draft. If there's nothing to hide there's no problem. But why do they already have a draft made out? If I was going to the other end of the country and happy to do so I'd get a draft last minute with the correct payee details.
    This is a case of thread carefully. If it smells funny from
    The start then a little caution will save a lot of headaches later on


    Op can u link to the car please?


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    #71
    MurdyWurdy
    Closed Accounts Posts: 3,043 ✭✭✭MurdyWurdy


    We bought our car with a bank draft and the seller was a dealership, they said it was one if the methods of payment they would accept. As far as I remember, we didn't have to put a name on the draft.

    In saying that, if you are uncomfortable at all then go with your gut. No point taking a risk.


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    #72
    Anan1
    Registered Users Posts: 22,818 ✭✭✭✭Anan1


    howardmarks wrote: »
    But why do they already have a draft made out? If I was going to the other end of the country and happy to do so I'd get a draft last minute with the correct payee details.
    What makes you think that they already have the draft?


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    #73
    Henry Ford III
    Moderators, Business & Finance Moderators Posts: 17,634 Mod ✭✭✭✭Henry Ford III


    A draft (according to my brief reserach) can only be cancelled if reported stolen or lost, and the issuing bank will need an indemnity from the customer in case it's found and presented for payment.


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    #74
    skinny90
    Registered Users Posts: 2,466 ✭✭✭skinny90


    update on this...well as many of ye said thread carefully.the draft turned out to be fake so iv no car or no money:(


    naaaaaaaaaaaawt!!everything went perfect he couldnt have been more of a pleasure to deal with.Thanks to all for the imput im sure someone in my position in the future will find the thread useful


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    #75
    NobodyImportant
    Registered Users Posts: 585 ✭✭✭NobodyImportant


    Heart dropped when i read the first line!


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    #76
    Mycroft H
    Registered Users Posts: 9,316 ✭✭✭Mycroft H


    skinny90 wrote: »
    update on this...well as many of ye said thread carefully.the draft turned out to be fake so iv no car or no money:(


    naaaaaaaaaaaawt!!everything went perfect he couldnt have been more of a pleasure to deal with.Thanks to all for the imput im sure someone in my position in the future will find the thread useful

    Well that's a bit crap. Presume you went to the Guards?


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    #77
    Cheensbo
    Registered Users Posts: 2,701 ✭✭✭Cheensbo


    BX 19 wrote: »
    Well that's a bit crap. Presume you went to the Guards?

    Presume you didn't go to specsavers? :pac:


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    #78
    Mycroft H
    Registered Users Posts: 9,316 ✭✭✭Mycroft H


    Cheensbo wrote: »
    Presume you didn't go to specsavers? :pac:

    No, I didn't. Nothing mentioned in the update there today.


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    #79
    Cheensbo
    Registered Users Posts: 2,701 ✭✭✭Cheensbo


    skinny90 wrote: »
    everything went perfect he couldnt have been more of a pleasure to deal with.Thanks to all for the imput im sure someone in my position in the future will find the thread useful
    BX 19 wrote: »
    Well that's a bit crap. Presume you went to the Guards?

    Ahm... For what..
    BX 19 wrote: »
    No, I didn't. Nothing mentioned in the update there today.

    Was just slagging, as perhaps you didnt see the bolded part :)


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    #80
    Mycroft H
    Registered Users Posts: 9,316 ✭✭✭Mycroft H


    Cheensbo wrote: »
    Ahm... For what..



    Was just slagging, as perhaps you didnt see the bolded part :)

    Shouldn't read threads when I'm only awake. Glad it went well


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    #81
    Kraziai
    Registered Users Posts: 11 ✭Kraziai


    Hi lads.if the bank draft bounces and bank recovers that is stolen or false .will the bank notify Garda straight away?or I have to tell them myself?


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    #82
    discodavie
    Registered Users Posts: 341 ✭✭discodavie


    Kraziai wrote: »
    Hi lads.if the bank draft bounces and bank recovers that is stolen or false .will the bank notify Garda straight away?or I have to tell them myself?

    You'll have to do it yourself lad. It's theft and fraud and you can go and recover the car yourself if you know where it is.


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    #83
    Kraziai
    Registered Users Posts: 11 ✭Kraziai


    Is the best way to call in to local Garda station or call fraud team?


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    #84
    Fred Swanson
    Closed Accounts Posts: 21,730 ✭✭✭✭Fred Swanson


    This post has been deleted.


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    #85
    Special Circumstances
    Closed Accounts Posts: 7,569 ✭✭✭Special Circumstances


    Good luck finding them after 2 years.


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    #86
    Tigger
    Closed Accounts Posts: 16,707 ✭✭✭✭Tigger


    Special Circumstances wrote: »
    Good luck finding them after 2 years.

    pretty sure an SC ship could


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    #87
    Special Circumstances
    Closed Accounts Posts: 7,569 ✭✭✭Special Circumstances


    Tigger wrote: »
    pretty sure an SC ship could

    Boom... right over most people's heads hahaha
    second poster so far to hint at the origin of the name.


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