1965 VW Bus.

[vdubber]

There's a guy from Portugal interested in my bus. He seems genuine enough. He wants to decide a price etc before he comes over to collect it. He says he wants to know the year of first registration and maybe the V.I.N for his insurance.

Should I be worried, or is this standard?

 

[Endfloat]

Just say cash on collection and don't give any unnecessary information and you should be safe enough.

 

[69bug]

Put yourself in his shoes. If you went to the UK to buy a car, you'd want the reg number etc if you were to drive it back ! We did it when we bought the oval.

As Ross says, cash on collection. If he's travelling over from Portugal, he must be somewhat interested.

 

[JustinOval]

I'd want the VIN too... Phone calls are the best way to close distance deals.

 

[Mikey]

Agree cash but also get one of those money pens, just to make sure its real.
Just to be sure.

 

[vdubber]

thanks guys, he's been on the phone.

 

[trev]

does he sound like this fella?

 

[vdubber]

that's him! is that bad?

 

[vdubber]

jesus. he's on about the 10,000 euro limit travelling through europe. he really does sound genuine on the phone, but wants my IBAN number to transfer some money into my account and then to give me the balance when he gets here. I assume that's bad isn't it? I said I'd have a think about it.

 

[JustinOval]

Sounds legit to me. If the deposit clears (ask your bank) and he lodges the balance when he gets here there shouldn't be a problem. You can be too cautious, and lose the sale. I know when I bought my westy I had to go a long way to show I wasn't a scammer, but there is a limit.

 

[philk]

If you give him a set of bank details i wouldn't have thought he could withdraw from your account or screw you over. A quick call to your bank would tell you ___ like Justin said
If a % of the value lands in your bank then youre laughing....if he dont turn up then you'll piss your self (well i would).
If he offers a value to be transfered to you just be clear that it aint refundable if you can

 

[Aidan]

jesus. he's on about the 10,000 euro limit travelling through europe. he really does sound genuine on the phone, but wants my IBAN number to transfer some money into my account and then to give me the balance when he gets here. I assume that's bad isn't it? I said I'd have a think about it.

Have a chat with your bank - should be fine as its standard to get an IBAN and even address details for a transfer.

If you're really worried, then ask the bank if you can cap the amount & frequency of withdrawal transactions temporarily - normally there shouldn't be anything bigger than your mortgage leaving your account in one go.

If it was me, I'd be very reluctant to transfer money into an unknown seller's account before I'd seen what I was buying so maybe its a good sign. But again, talk to your bank and see if the transfer in would need to be cleared and if so, how long it would it take. You don't want him turning up on your doorstep unexpectedly just after the transfer with 3 or 4 grand cash because he 'got a cheap flight at the last minute' so that he's off with your bus before the electronic transfer clears.

 

[69bug]

The IBAN number is required to transfer money in Europe, it's a series of numbers and letter than uniquely identifies your account. Using this prevents delays when he sends money to you. The SWIFT address/Bank Identifier Code (BIC) should also be used by him on his payment instruction again to ensure that the payment reaches you in most effective and cost efficient way.

When I bought my Split I went down this route of IBAN and BIC to send money to the owner.

 

[philk]

Is the 10K limit not for people entering the EU ????

 

[Coxy]

Why not open a seperate account if you don't want to give him your regular account details? Anytime I've bought from the US or UK I had to lodge money into the sellers account and wait for it to clear before I could take the car. Once I gave Val the price of the car in Sterling cash and he paid the seller when he went to collect the car in the UK. I know one guy who had the buyer send cash into an account and wait for it to clear then he asked him to collect the car on a week day so he could lodge the cash in the bank there and then - that meant the bank could also check that the notes were the real deal. Other people have gotten photocopies of passports but at the end of the day it's your Bus if he really wants to buy it he'll work with you.

 

[69bug]

If all come to all, get him to pay a deposit through paypal, if he has an account, let him take the % fee and refund it to him when he arrives !!

 

[JustinOval]

Is the 10K limit not for people entering the EU ????

Good point, you might be right...

 

[JustinOval]

IBAN deposit, balance in cash or draft. ....but in your bank, not your hand.

 

[philk]

IBAN deposit, balance in cash or draft. ....but in your bank, not your hand.

Yup....think so. Should be plain sailing there on. Hope it works out for you.

(wish i had the cash)

 

[Madaboutbugs]

Iban is made up of your sort code and bank account number the ie in it is obviously Ireland it's standard for cross border electronic funds transfer. There's no way anyone can empty your account with your account details it's save as houses. Just don't give personal details, credit card numbers etc. He will need your branch address. One point to note is once off large. Transactions especially cross border are flagged for money laundering purposes you could get a call from your bank, the flag amount is 15 k and over for domestic tranactions less for cross border. Another point to note is that cross border payments cost make sure he takes the charge on his side! Cross border payments will generally clear t+1 that's the day after he makes the transfer the bank can be asked to confirm the receipt. Once it's in your account there is no way for him to get it back without your consent. Safe as houses don't worrie good look with the sale!! Smashing van