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Is this person trying to rip me off?

Kroze

Kroze

Diamond Member
I'm trying to buy a car and stumbled across his ad on autotrader. after a couple email from last night. i just got this:





Hi,
We can use an escrow service to make the deal. I request the escrow service because I can come and meet only after we make the transaction. I will come personaly with the car and everything. You will be able to inspect the car for 3 days before I receive payment on it , you can reject it if you don't like it. I am sure this is not our case.
We have a deal for $14800 but only if we close the deal this week.
Please read the agreement and email me back if yo are ok with it.
Thanks








which department/agency i can call to hand this over?
 
shouldn't be an issue as long as YOU pick the escrow service and make sure it's legit. Don't let him, as it could be a shill service he's fronting for
 
buying a car online is not good, escrow or not.

Ask your attorney to look over the agreement real quick before you sign it.
 
Originally posted by: MikeyIs4Dcats
shouldn't be an issue as long as YOU pick the escrow service and make sure it's legit. Don't let him, as it could be a shill service he's fronting for
Click to expand...
Yeah, Lagos National Bank's escrow service is right out.

 
Originally posted by: MikeyIs4Dcats
shouldn't be an issue as long as YOU pick the escrow service and make sure it's legit. Don't let him, as it could be a shill service he's fronting for
Click to expand...


what is an escrow service anyway and why does he need it?

i've bought several cars before and you take your cash/check to the seller and go from there. what is an escrow? what is shill service?
 
what does the escrow service do? if all they do is hold my money until i said okay to release..how can i get crap out of my money if i disapprove after inspecting it
 
Originally posted by: Kroze
what does the escrow service do? if all they do is hold my money until i said okay to release..how can i get crap out of my money if i disapprove after inspecting it
Click to expand...


yes, they will hold the money for a set period of time. If you do not file a complaint about the transaction during that period, they will send the money to him. He is guaranteed you have the money in 3rd party hands and you are sure he's not scamming you.
 
http://www.autotrader.com/research/shar...4&refpage=buyingtips&restype=used#tip3

We don't endorse any particular escrow service.
For a fee, an escrow service holds the buyer's payment until the seller has delivered the item purchased. Such a third-party service can protect both parties from fraud. However, scammers often set up fake escrow services. They claim an affiliation with well-known companies like AutoTrader.com to create a sense of security.

Remember these tips before you agree to use an escrow service:

* Avoid any service that implies an affiliation or partnership with AutoTrader.com.
* Verify an escrow service's legitimacy by checking with state regulators.
* Decline the transaction if the other party insists on using an escrow service that you're not sure about.

And once you find an escrow service you're comfortable with, be sure you understand:

* What conditions must be met before the payment is released to the seller.
* What the escrow service charges.
* Which party is expected to pay the fee.

If any escrow-related email or website implies an affiliation with us by displaying our logo or by other means, report it to us and law enforcement. Check our Internet fraud resources section for more advice on escrow services.
Click to expand...
 
Originally posted by: MikeyIs4Dcats
oh, and since he brought up the idea of using escrow, he should pay.
Click to expand...


i think he already implied that he's payin for the escrow since the car is $15k and on the email he said $14800
 
Originally posted by: Kroze
what does the escrow service do? if all they do is hold my money until i said okay to release..how can i get crap out of my money if i disapprove after inspecting it
Click to expand...

dude is the confusion worth payin 14k? why don't you just save some hassle and buy one from a dealership or check your local ads?
 
Originally posted by: Kroze
Originally posted by: MikeyIs4Dcats
oh, and since he brought up the idea of using escrow, he should pay.
Click to expand...


i think he already implied that he's payin for the escrow since the car is $15k and on the email he said $14800
Click to expand...


I assumed you had talked him down in price.
 
well i will keep this thread updated. i just emailed him for his phone # and told him that i will have my bank pick an escrow service after i get back from work today
 
okay so i emailed him back saying that i'll get my bank to get me an escrow service and ask for his phone#....this is what i got:





Hi,
Here is my phone #609-925-9046 . For transaction we will use www.escrow.com because I use it before and is safe. Please read the attached file and email me back if you are ok with it.
Thanks



what should i do next?
 
My question is this (and maybe I'm just not thinking outside-the-box):

Why did HE request the use of escrow? Really, escrow protects the buyer more then the seller, yet, he requested it. Is he just looking out for your best interest? I highly doubt it.

The typical seller is going to want to get paid as quickly as possible. Yet, an escrow service will delay the process. It's great for you. You get to inspect the vehicle before being committed, but, really, it makes no sense for him to suggest using escrow without your prompting and him willing to pay the fee.

I smell SCAM!
 
Sounds like a scam to me. Escrow is OK ... but it is much better if you set the terms with a legitimate service, rather than following his. Remember, it is your $$$ ... be as safe as possible. Good Luck.
 
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