Folks Of Interest scam or not

Nope but a 100K postal money order would be acceptable.

 

Wow, you'd think someone from the great state of Iowa would be slightly less pessimistic. Possibility of a scam-sure. But, maybe the guy works 3 jobs to be able to afford his family and hobby and can't get off from work when you want him to come. I'd probably make the 2 hours drive-but maybe not sight unseen-my time is valuable as a buyer, too. As stated elsewhere, a bank's not likely to just hand you cash- unless your collateral on the loan is not the car in question. If the loan's on the car, the bank will want to know there's a clear title with no liens on the car.

I'd go with the guys who recommend checking with the buyer's bank-is he legit, does his loan officer really exist,etc. Then, I'd give them the information on the registration without maybe a copy of the registration itself. You could then ask for cash-or a wire transfer into an escrow account (not your real, primary bank account).

I'd certainly be cautious, but a lot of the responses here would paranoid you right out of a potentially good buyer. Follow your heart. Keep us posted.

 

It's been estimated that the average person attending the Hershey Fall AACA meet (best in the world) carries $5000 in cash on them. Given that that's about $4500 more than my buddy and I carry, there's at least one dude out there with a $15000 bankroll. I think you'd be okay-unlss it was all in 5's and 10's or sequentially numbered 100's.

 

5window just for clarification and not to be a total ass here, OK? Your time is valuable I understand that, so you wouldn't travel 2 hours to look at 27K car but you would buy it site unseen?

A bank in the US is not going to be as interested in the registration as they are the title and if they have the vin they have all the information that they need to find out anything they want about the car.

maybe it isn't a scam maybe it is certainly after finding out the vin and the sellers name and address it is really too late to ask.

 

I financed a car once through a bank years ago and all they wanted was my signature and some collateral,it surely wasn't the vin number on a old car. HRP

 

We are living in the scam age, you have to be careful. A 2 hr. drive is nothing for him to come look at it, he should do that as a matter of fact anyhow. Tell him to bring a good deposit with him and then you will let him have a copy of the registration and he can take that to the bank. When he brings the check go to a branch of that bank and have them verify it is good.

 

Get the bank name and location Then google the phone #,
Call and confirm.

Nick

 

For what it's worth, I've driven more than 2 hours just to wander around a junkyard looking for parts that I didn't find. I would probably even take time off work to inspect a car before spending $27,000 on it.

 

The answer is here:
http://j-walk.com/other/conf/

 

LMFAO I am going to have to keep this link. My other hobby is screwing with west Africans.

 

A 2 hour drive in Texas is a trip to the grocery store. I'd be suspicious.

 

LOL I took a two hour drive in west Texas once it took me all day.

There is one helluva lot of Texas, maybe that's why it was a country before it was a state.

 

Not a 27,000 sale but I just sold a 21 Model TT last night sight unseen for $5200. The guy threw in an extra 50 for me to deliver it. I told him the price is set, don't try to get a better deal when I get there. He said no problem a deal is a deal. I arrived he handed me an envelope with 5200 in it and I unloaded. Done deal.

 

Well you know what they say, just because you're paranoid doesn't mean they aren't out to get ya.

I am not the absolute best person to ask because I have a basic mistrust for anything that walks on two legs, gorillas, bears, humans, most birds, did I mention humans?.

 

I sold an O/T Jeep a few months ago on Craig's List. The guy came and test drove and a few days later texted me saying he was borrowing money and the bank wanted to see a copy of the title... He also wanted me to list the selling price as a few hundred more than we agreed on so he could "finance" sale tax. I was suspicious, didn't go for the inflated price but did email a title copy....He did buy the Jeep within a few days....

 

What makes you think it's illegal to carry a large sum of cash? I understand that a cop might think you're into something not legal if he found it,.but why would he be searching you if he didn't already have you for something?

 

Seems a little strange, I've financed a dozen (at least!) collector cars over the years, and never been asked for the registration by the bank. Vin #yes, and for the last two, certified appraisals as well, but never the registration. It's gonna change as soon as you buy it. I agree about contacting the loan officer directly, but even that "could" be a scam. I wouldn't kill the transaction just yet, but I would talk to the loan officer myself and I'd also make sure the person you talk to actually works at that bank. When you call them, ask his name and the name and branch of the bank. Then look up that branch on the internet and call their general number and ask for that person. If this is a scam, it would be easy enough for them to give you a number and have you call one of their buddies posing as a loan officer. As far as what the danger might be, my first thought is a similar stolen car someone's trying to create papers for. Your cars not hot, so if they got all your info, and sold the hot car with it all on it, bingo! It's only got to hold water long enough for them to get the cash, then their gone! It's amazing what a basic PC and a laser printer can do these days! Vin tags can be ordered (but not as easily as they used to be) or faked.

Posted using the Full Custom H.A.M.B. App!

 

That's a sweet looking Bird

 

I waited 2 hours in traffic to get into the swap meet at Lake Compounds last fall, no way would I buy
a car for that kind of money without checking it over, and maybe even having a pro check it over.

 

wow, four pages already.

lots of logical responses, lots of BS and lots of paranoia

I would ask a few more questions, but his request is very logical. He may have total trust in the seller, feels the price is fair and wants to move forward without delay.

JJBest and Hagerty offer financing for classic vehicles. One of the first steps they take is to require proof of ownership. They will eventually send a representative to verify the serial number matches the title VIN.

If this buyer is using either of these lenders, his request makes total sense to me.

I am rather concerned with many of the responses to the OP's question. I truly don't think they are experience based and many are simply ridiculous.

unfortunately, this is becoming a trend on HAMB. Why is that?

 

paranoia will destroy ya.......

 

Had a buddy in Springfield, Ohio who listed, on-line, his nicely built 32- 5 window coupe (glass) for $34,000, delivered it to the guy in Pa. he paid Tom in cash, $100 bills, Tom said, do you want to drive it, he said no, just put it in the garage. Tom got a letter the next week saying how much he liked it, guess it takes all kinds.

 

What you are stating is your opinion.
I am stating a FACT when I tell you it has been done just like that. I have watched as a guy mailed in a request for a duplicate title, saying he had moved to a certain address. The title came to that address and was signed by 'someone' and at that point the paper was good and the car was sold. No one was injured by this. If the car had been wrecked, the previous owner would have been liable so every thing was good this way..

 

I've never been to Hershey, down here we go to the Pate swap meet and lots of people have $15000 and more

 

How could you go to a decent size swap expecting to buy much with only $500? That's not even daily walking around money for some.

 

Don't forget, you gotta make $73,000.00 change for him!

 

Opinion, perhaps. What I am saying is, I cannot believe and will not believe that someone can take a registration, with some strangers name on it, take it, or more unbelievably, mail it in, and get a new title in his name. Maybe in some third world country or backwater hillbilly DMV but certainly not here in CA or any other state where some degree of common sense still prevails. I have had to apply for several dupes, over the years, and a documented paper trail is required, one being that I am the vehicle owner.
Actually, the original post, that led to this, was that someone could do this with a photocopy of the registration. Absurd

 

I agree, wholeheartedly. Would not happen in Nebraska, either. I would also like to know what states do not title old cars and just issue registration slips on them.