Someone wants to come take a look at our van.

If he wants it, he’s going to leave a deposit of over 50% of the price, as the money to pay for it is currently invested, so he needs to sell shares to raise the rest, therefore will be back in the new year with the balance in exchange for the van.

My wife spoke to him, I assume he’s not expecting the logbook in exchange for the deposit!

Can you see anything fishy about this that I should be wary of?

(He said he rode MTB, so may even be on here! if you’re reading this and you’ve just called someone about a T4, hello!)

If he wants it, he’s going to leave a deposit of over 50% of the price, as the money to pay for it is currently invested, so he needs to sell shares to raise the rest…

Got this far and started shaking my head.

Might be legit….but…well…

Has there been any other interest in the van? I’d be inclined to say no to this guy if so… holding a deposit, shares, just too many ways for it to become hassle.

If he leaves the money and you maintain keys & log book then I can’t see what the problem is.

If it’s a large amount of cash, make sure it’s in the bank before nightfall and your windows and doors are locked 🙂

Depends on how much interest there is in the van. If loads then 100% cash is king and flog it on to the first buyer. If he is the only one interested then take the deposit and make sure you give him/her a receipt with a date condition. If he doesn’t come up with the full cash by the date then sell it to someone else.

If it was me, I wouldn’t be going along with this unless I knew the person or a mate.

There are two other people interested, but they’re both at other ends of the country (although this bloke isn’t nearby either).

If I was ever taking such a large amount of cash, I would always do the transaction at the bank, where the buyer pays the cash directly into your bank account. Once it’s in, it’s cleared and not coming out again…

Rachel

There are two other people interested, but they’re both at other ends of the country (although this bloke isn’t nearby either).

With these road thingies I keep hearing so much about, if they are serious they will come.*

*Flooding permitted.

hmm, I’m inclined to say that he should get back in touch when he has the money and he can have it if its still here.
The thing thats making me wonder is why would he be looking for a van before he has the funds available? Its a nice van, but its only a T4, not like its a rare find!

No, i would say that’s fair enough dependning on what he wants in return for his deposit. Why crystallise investments if you’re not going to use the money to buy something, particularly something like a T4 where price/quality etc may not appear that frequently. If its a go it won’t be long to get the cash, 2 days min to settle shares, 4 days max….provided they’re direct equity. Then the time taken to transfer the cash to bank which could be done same day or 3 working days. So all in it should take him 7 working days max to get his grubby hands on the cash.

Forged notes, get him to provide a bankers draft or pay directly into the account

If he cant afford to buy the van dont sell it to him. At present he cant afford to buy the van.

Sounds iffy to me.
I’d politely refuse as how long will it take him to realise his investments?

I actually did something similar when I bought our van (T4 Westy). Paid the owner a deposit to hold the van (he gave me a receipt, I had proof of address etc and we had an agreement he wouldn’t flog it to anyone else in the meantime) and then came back a week or so later once I’d raised the balance (I was taking it out of a savings account linked to our mortgage which took a little while).

As above, provided you’re not actually handing over the keys or V5, then I really don’t see what the problem is provided you agree when the balance is to be paid and what will happen if it isn’t paid by that date.

Sounds fine as long as you are careful
If he leaves cash as the deposit , no problem, pay it in the bank, no worries
I would not give any document,action or keys to him under any circumstances until full money is paid.

If he starts to go on about giving you shares, wanting the van, or keys, or log book, walk away, no, run away

Forged notes, get him to provide a bankers draft or pay directly into the account

Agree, I think it could be a type of money laundering scam.

Why would he give you a cash deposit there and then? If he comes to see the van and likes it then he could transfer the money over the minute he got home (or there and then even) rather than carry around a large amount of money. If you don’t receive his transfer then you don’t hold the motor for him. The alternative would be to pay the money into the bank with him present as mentioned above

Of course he could be legit, but I would worry about anyone who would be happy to give me a handful of money for nothing.

Right then, some good tips up there.

Wife has called him back and explained that we would like the full amount, no messing around with deposits (I can’t be faffed with him leaving a deposit, then not being able to pay balance quick enough so asking for it back or similar). He’s still coming to look at the van, then going to come back with full amount at the w/e if he wants it.

(That reminds me, should probably be sat AM so we can pay it in with him present).

Thanks STW!

irelanst – Member

Why would he give you a cash deposit there and then?

I’m not sure you’ve grasped the concept of a deposit…

If he comes to see the van and likes it then he could transfer the money over the minute he got home (or there and then even) rather than carry around a large amount of money.

How do you know this?
I couldn’t.

Get money paid straight into account, making clear on his receipt that the deposit is non-refundable in the event that he fails to make the balance by the agreed date.

Check what you can do on a Saturday in your bank!

When I sold my car I discovered that mine had no counter service whatsoever, so I ended up paying in a large amount of cash via the automated deposit machine. Took a long time as about 1 note in 10 was rejected and had to be smoothed out and tried again. Had 2 assistants helping me in the end!

What t4 is it and how much? I’m in the market for a van myself.

There must be a million people after a T4 at the moment.

I would leave it if it were me and either wait til he gets the full balance together or sell it to someone else. No point taking the risk when there are so many people after T4s these days.

He may be waiting for the funds from his Nigerian relatives to clear in his bank??

Non-refundable deposit, straight into your bank, with a statement (you both sign) saying he has until the 30th Jan 2013 to meet the balance.

big_n_daft – Member
Forged notes, get him to provide a bankers draft or pay directly into the account

Bankers drafts are no safer than a personal cheque.

Bit weird,but i had a similar thing twice,a few years ago about some railway books, a few quids worth, punters rang up a few times seemed dead intrested, said they would send cheque or call round, as he lived local,but didnt want me to deliver,aranged a time and day, they never turned up.

No one knew them at the addresses they gave and mobile numbers didnt ring in.

Got talking to some freinds, and they said it was a scam, build a guilable customer up, and then fail to turn up, some people working in workplaces with free phone calls,and no way of tracking them, find it a way of stopping boredom setting in.

See if he turns up, i doubt it.

There are a lot of REALLY suspicious people on here 😐

I’ve owned a lot of vehicles in the last 20 odd years and I reckon I must have paid deposits and sorted the rest out when I collect maybe a dozen times. That’s the way people tend to do these things

On none of those occasions was I laundering money from a drug cartel/ disposing of forged notes/ working an elaborate con etc etc.
I was just buying a vehicle in a completely standard way. Like people do every day.

It’s a good idea to be careful with these sorts of things, but seriously, some of the responses here are complete “tin foil hat” stuff 😯

If he wants to leave a deposit, fine. If he wants to leave a deposit and take the car, that’s totally different.

Also suspicious that he’s at the other end of the country or whatever.

I’ve owned a lot of vehicles in the last 20 odd years and I reckon I must have paid deposits and sorted the rest out when I collect maybe a dozen times. That’s the way people tend to do these things

They don’t normally leave 50% though

I can’t see what possible scam could be played here but that’s how a lot work, they’re unusual but you can’t figure out how you could be duped.
I dunno, I’d probably chance it

Like Jota the 50% deposit seems unusual I thought 10% would be the norm, I mean if he did not come back within the allocated time you could use his deposit to readvertise etc, I do not think you could justify keeping 50% (not suggesting you would try this, but why has he offered a 50% deposit)

I had a guy buy my 993 who was coming back into the country. Paid me the full asking amount and asked me to store it for him. Was all legit and he turned up as planned with a case of wine to say thanks !

report him to social services

Not entirely related to your post, more anecdotal, however. I sold my last pick-up in June and the guy wanted to pay cash. I had to go and buy my new truck that day (a Saturday). Our wonderful banking system, even though they are open on a Saturday, claimed that the cash deposited wouldn’t show in my account until some random time the following week.

So, a bundle of cash it was – all wrapped direct from the bank he’d withdrawn it from. Anyway, my taxi driver friend had lent me a UV light pen to check for the telling symbol – all seemed ok. I took it to the dealer I was buying from and they just took it without even checking it.

OK, update on vanny…

Bloke came round last night (I was having a PT session at the gym so wife dealt with him).
He wants the van, coming back today with the full amount, meeting wife at local branch.

So, either my wife has gone mental and he doesn’t exist (I haven’t personally spoken to him), she’s having an affair and this is all a rather extravagant cover-up (thats probably another thread) or it’ll all be ok and will be dealt with today!

😯

Come on then, lets have a few pics of the T4 before its gone 🙂