Warning! Possible scammer
05-06-2013, 04:15 PM
#1
Racer
Thread Starter
Warning! Possible scammer
I got an e-mail last week about a car I have for sale. Someone named Monique said a friend of hers was looking for a car but didn't belong to the Forum. I gave her my info and she passed it on to him. He seemed agreeable to the price and talked about flying in and driving the car home. I then got an email back with the following message:
"I spoke with my bank and they shared with me that a clear title was needed and you and the car needed to be here physically to complete the deal. You would have to sign a Power of Attorney document."
He told me he was a minister in Texas. I am thinking it was all BS. Thank goodness I wasn't born yesterday.
FYI
"I spoke with my bank and they shared with me that a clear title was needed and you and the car needed to be here physically to complete the deal. You would have to sign a Power of Attorney document."
He told me he was a minister in Texas. I am thinking it was all BS. Thank goodness I wasn't born yesterday.
FYI
I like your comment, my favorite is, "I was born at night but it wasn't last night".
05-06-2013, 04:22 PM
#3
Drifting
I have received some responses similar to that.
My one and only response back to them is "Cash is King-Cash and carry".
I normally don't hear anything back after that.
My one and only response back to them is "Cash is King-Cash and carry".
I normally don't hear anything back after that.
05-06-2013, 04:36 PM
#8
Le Mans Master
Member Since: Sep 2007
Location: Mechanicsburg Pennsylvania
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I have had that one or very similar used on me primarily when I advertise on eBay. Sadly some must fall for it or I would think they would have stopped wasting time.
I always conclude with - 'these are the selling terms, applicable to all, including: NO brokers, agents, powers of attorneys, letters of credit, escrow or trades considered or accepted.
I always conclude with - 'these are the selling terms, applicable to all, including: NO brokers, agents, powers of attorneys, letters of credit, escrow or trades considered or accepted.
05-06-2013, 04:49 PM
#10
Racer
[QUOTE]
"I spoke with my bank and they shared with me that a clear title was needed and you and the car needed to be here physically to complete the deal. You would have to sign a Power of Attorney document."
He told me he was a minister in Texas. I am thinking it was all BS. Thank goodness I wasn't born yesterday.
yea, just like "the check's in the mail" and so forth, I won't say the rest
I got an e-mail last week about a car I have for sale. Someone named Monique said a friend of hers was looking for a car but didn't belong to the Forum. I gave her my info and she passed it on to him. He seemed agreeable to the price and talked about flying in and driving the car home. I then got an email back with the following message:
"I spoke with my bank and they shared with me that a clear title was needed and you and the car needed to be here physically to complete the deal. You would have to sign a Power of Attorney document."
He told me he was a minister in Texas. I am thinking it was all BS. Thank goodness I wasn't born yesterday.
yea, just like "the check's in the mail" and so forth, I won't say the rest
05-06-2013, 05:09 PM
#12
Melting Slicks
05-06-2013, 05:16 PM
#13
Team Owner
05-06-2013, 05:30 PM
#14
Pro
I have sold and purchased cars with liens. The power of Attorney is so that his bank can obtain the title direct form your lien holder. They then no longer need you in the process to sign it over or anything of the sort. The buyer does need a better bank though if they want you to drive all the way there. That's crazy.
Some people are ok with the process some are not and have every right to be cautious. I have only recently dealt with Bank Of America on the selling side since that is my bank of choice when it comes to auto finance. If you have a lien on your car the only way the buyer or his bank are going to get ownership with that Power Of Attorney is to pay off your loan for you so they can get the title. You do not give up the car until you get the difference in cash, check ect.
I recently sold my S4 this way. I had no problem signing a power of Attorney considering he dealt with a Major Credit Union who I spoke to directly and was familiar with. They cut my bank a check for my payoff and myself a check for the difference. When my bank received the check they notified me my loan was paid in full. I took his check and his bank took the title directly from Bank Of America. I never even saw it. He then took possession of the car once remaining funds were clear the next day.
All in all this is not uncommon. Only issue I see is you driving the car there. He needs to get with a major bank. If he can't do that find another buyer.
If you do not have a lien his bank should be made aware of that. POA would not be needed on your end.
Some people are ok with the process some are not and have every right to be cautious. I have only recently dealt with Bank Of America on the selling side since that is my bank of choice when it comes to auto finance. If you have a lien on your car the only way the buyer or his bank are going to get ownership with that Power Of Attorney is to pay off your loan for you so they can get the title. You do not give up the car until you get the difference in cash, check ect.
I recently sold my S4 this way. I had no problem signing a power of Attorney considering he dealt with a Major Credit Union who I spoke to directly and was familiar with. They cut my bank a check for my payoff and myself a check for the difference. When my bank received the check they notified me my loan was paid in full. I took his check and his bank took the title directly from Bank Of America. I never even saw it. He then took possession of the car once remaining funds were clear the next day.
All in all this is not uncommon. Only issue I see is you driving the car there. He needs to get with a major bank. If he can't do that find another buyer.
If you do not have a lien his bank should be made aware of that. POA would not be needed on your end.
Last edited by Svre46; 05-06-2013 at 05:34 PM.
05-06-2013, 08:06 PM
#19
Drifting
Member Since: Jun 2010
Location: Litchfield Minnesota
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My absolute vote for number one funniest all time best genius comedian of the world, ever! Saw him in person at a comedy club in Palm Springs and did not stop laughing for weeks. Sad that he left life early.
