WARNING TO SELLERS
It has come to our attention that bogus buyers are contacting members via email, perporting to be interested in buying their cars.
These emails, mostly in broken English, offer to pay for the car without even seeing it. I understand that they often offer to send a cheque for a higher value than the car - say £30,000 for a £25,000 car. Thinking that they have sold their car, unsuspecting sellers are asked to send the bogus buyer a cheque for the difference which they can then cash within 3 or 4 days.
Unaware of what is going on, the seller will then find that the bogus buyer's cheque has bounced and this can often take up to three weeks or so one becomes aware. So the sellers are left without the car AND minus any monies forwarded to the buyer. There is also always the risk of a fake Banker's Draft which bounce.
Members may not be aware of this possible scam. It would be good to remind members that they should always insist on an electronic transfer of funds by BACS or CHAPS before parting with their beloved motors.