urgent advice/help re private sale of bike

[mustardbufc]

Hi people, I'm looking for some help/advice.

My son has his bike advertised on ebay, as a classified ad, and someone did a deal over the phone and arranged to buy it without seeing it. Not something I would do, but we've sold his last 2 bikes this way.

The fella was going to transfer a £200 deposit into my son's bank account and then pay cash on collection. Whole price not far off £3k.

My son spoke to him again to arrange the details and he said he was going to transfer the full amount and pick the bike up on Saturday.
He has since spoken to/texted my son and said it was going to cost too much to hire a van for the weekend so was going to arrange for a courier to collect it (he lives 250 miles away).

My son has checked his account and the full amount has been transferred. Obviously we are going to check with the bank that the funds are there and available and not able to be recalled by the buyer. In fact we'll even get the money out of that account into another before Saturday and won't let the bike go until funds are available.

Does this sound ok to people?? I've never done a deal this way before.

Thanks,
Shaun

[noggythenog]

Sounds dodgy..although theres a chance it could be legit......dont do it if it is paypal as theres some kind of dodge with paypal where they dispute & suck the funds back out.


If its a bank transfer then im not sure.


I dunno just doesnt seem right to me i say give him the money back & say cash only on collection.

[red98]

Bit unusual, strange hes paid deposit and then the full amount without seeing it.hes taking a massive risk on the bike being ok.not suggesting that its not  , if the funds are there I dont think you have anything to worry about, write a receipt in duplicate, one for buyer one for seller, timed and dated with full names and addresses on both,both parties to sign, put new keepers name on V5 and put it in the post.......buyer must be keen, is it a FAZER by any chance  ..........one last thing, dont forget to share some of the cash with anyone who replys to your post 


Oh, dont forget to inform your insurance company that you have sold the bike......

[richfzs]

Can't recall details, but sure there's a scam involving couriers? Be careful...

[fazersharp]

If it is a transer into your bank account with sort code and account number an all that then I would of thouht that is it - there is noway for them to get that back unless you give it to them, if paypal are involved then I wouldnt trust it, as that can be "charged back" under a dispute where they could say they never received the bike or whatever

[noggythenog]

Has your son actualy seen the money in his bank account...i do t mean paypal but his actual bank????


Or has he received an email supposedly from paypal etc saying that the transfer is complete???

[midden]

If he's put the money into your account he can't take it back.  So the dodgy bit would you not giving the bike up.
foccin phone keypads

[sinto]

I know a guy who buys lots of stuff without physically seeing the stuff, and transfers the money, he organises to get it collected or goes himself, he's never had any hassle, so what I'm really saying is not everyone is a crook, but you are right to be cautious, if the real money is in the account, transfer as you said your going to do, then sit back, relax and do the relevant paperwork and send it off once courier has collected it.
I wouldn't get harassed about it personally, if the actual money is there, deal is on, if it's not, deal is off, simples really.

[fazersharp]

with paypal if you get paid and withdraw it from your paypal account and then there is a dispute leading to a chargback then paypal will just take it from your card.
If this deal involves paypal in anyway then I would avoid

[dazza]

    What sinto said, money's in your account, non paypal, what's the problem. Give the man his bike.

[chaz]

sold my trike that way money into my bank and a courier came for it, as long as you have the money it's him taking the risk, as long it's as described then all's ok. don't think  paypal covers motor vehicles anyway.

[mustardbufc]

Thanks for the replies.
No paypal involved. He has checked his balance at the atm and money is showing in his account. Yes, payment was made by us giving him account no and sort code.
You cant pay direct into a bank account with paypal can you?

And sorry red98, it wasn't a fazer

[mustardbufc]

Chaz, what did you do with the part of the V5 the new owner gets and other paperwork?
Did you do as Sinto suggests?

[red98]

He wouldn't be selling it if it was a FAZER  ............you'll be fine, you've got the money.......just had another thought, hows the new keeper going to sign the V5 if hes using a courier ?

[fazersharp]

You cant pay direct into a bank account with paypal can you?

No they cant - you have to transfer from paypal to your bank account

No paypal involved. He has checked his balance at the atm and money is showing in his account. Yes, payment was made by us giving him account no and sort code.

In that case I dont see a problem as that is a one way trip for the money

I would wonder though is there anything someone could do having the account No and sort code and account holders name - it seems a lot of info for a stranger to have.
I dont trust anything me.

[Andy FZS]

I bought mine of Luke devil's yam in that way I transferred the money to his bank and sent a courier to collect it.

[Hedgetrimmer]

I would wonder though is there anything someone could do having the account No and sort code and account holders name - it seems a lot of info for a stranger to have.
I dont trust anything me.

They'd have all that if you wrote someone a cheque.

[mustardbufc]

Red98 -I was going to check that with dvla tmrw, and obviously if he was getting rid of a fazer for something else he would be disowned!

Fazersharp - Apparently no problem with giving someone that, I've checked with the bank previously. All that info used to be on cheques didn't it?

Andyfzs - but you knew him or at least of him

[midden]

You cant pay direct into a bank account with paypal can you?

I would wonder though is there anything someone could do having the account No and sort code and account holders name - it seems a lot of info for a stranger to have.
I dont trust anything me.

completely safe, it's the longer roll number required to make purchases, along with the 3 digit security number on back of card

[fazersharp]

completely safe, it's the longer roll number required to make purchases, along with the 3 digit security number on back of card

Ahh I see -- so whats yours then

[midden]

completely safe, it's the longer roll number required to make purchases, along with the 3 digit security number on back of card

Ahh I see -- so whats yours then

lol why how much you going to put in it?

[Explorer Mart]

I sold my DRZ 400 like this last November, I must admit I was also concerned at first thinking it might have been a scam, but he paid me a deposit and then transferred the full amount into my bank and arranged for a courier to collect the bike. I also transferred the money into another bank account.
Get the courier to sign, stating that he's taken the bike, with the reg No and frame No on the document.

[sinto]

Hi people, I'm looking for some help/advice.

My son has his bike advertised on ebay, as a classified ad, and someone did a deal over the phone and arranged to buy it without seeing it. Not something I would do, but we've sold his last 2 bikes this way.

The fella was going to transfer a £200 deposit into my son's bank account and then pay cash on collection. Whole price not far off £3k.

My son spoke to him again to arrange the details and he said he was going to transfer the full amount and pick the bike up on Saturday.
He has since spoken to/texted my son and said it was going to cost too much to hire a van for the weekend so was going to arrange for a courier to collect it (he lives 250 miles away).

My son has checked his account and the full amount has been transferred. Obviously we are going to check with the bank that the funds are there and available and not able to be recalled by the buyer. In fact we'll even get the money out of that account into another before Saturday and won't let the bike go until funds are available.

Does this sound ok to people?? I've never done a deal this way before.

Thanks,
Shaun

Shaun, as your now ok about the money it's in the bank so to speak....key into Google "dealing with v5 issues without buyer present"
Rather than me copy and pasting, it'll give you some good stuff about your thoughts, etc
Colin

[Rikki]

Does anyone know how much it would cost for a courier to collect a motorcycle & deliver it 250 miles away? How does this cost compare with van hire + fuel? Unless there is a significant saving then this would make me suspicious. Also, have you checked the buyer's ebay feedback?

[sinto]

Does anyone know how much it would cost for a courier to collect a motorcycle & deliver it 250 miles away? How does this cost compare with van hire + fuel? Unless there is a significant saving then this would make me suspicious. Also, have you checked the buyer's ebay feedback?

Motorcycle transport is relatively cheap, it's a lot less than hiring a van, fuel etc
I looked into it to get a bike from down south and by time I worked out costs to go and collect it, I was way more cheaper to get it collected, deal fell through but learned it was cheaper ☺