Do you think this is a scam?

[PaxtonShelby]

Hi folks,

I got a PM on corral.net regarding the ad I have posted for my '94 Cobra.

Sounds a little fishy to me - the guy says his bank ( NFCU ) needs the VIN and exact mileage in order for the guy to apply for a loan. Seems like he could try to apply for a lost title or something... I don't know the rules for different states - this guy is from Rhode Island ( at least his screen name says so ).

It is also odd to me that the guy has zero posts on the forum. I smell more fish...

Here's the message he sent - so you can see exactly how he worded this.

Please let me know your thoughts. Thanks!

[Terminated]

My credit union asked for VIN and approx mileage before loaning me money on mine. Banks want to know if the product they're loaning you money on is worth the collateral in case you default. Doesn't sound too uncommon to me.

Best way to find out is work out the details over the phone. He comes to you with a certified check and leaves with a title, that's how I did it. Sight unseen is a hell of a risky deal though for the buyer, ask me how I know.

[Martin0660]

I googled NFCU and came up with Navy Federal Credit Union ....

On the site, there is a link to click for "what you need to apply" for an auto loan ...

What You'll Need to Apply for a Purchase Auto Loan


Contact information for applicant and co-applicant, if applicable (phone number and email)*
Current housing, employment, and income information for applicant and co-applicant,
if applicable
If you've already picked out a car from a dealer or private seller, you'll need to provide:

The 17-character Vehicle Identification Number (VIN) for the vehicle
The exact mileage on the vehicle
The state where you will register the vehicle
Dealer or seller's name
Trade-in information, if applicable
Amount to be financed (including vehicle purchase price, taxes, tags, title, and warranty, less any down payment)
Term of the loan
If you're still car shopping but want to get pre-approved for a loan to buy from a dealership, you'll need to provide:

Trade-in information, if applicable
Amount you expect to finance (including vehicle purchase price, taxes, tags, title, and warranty, less any down payment)
Term of the loan
If you'd like your loan documents sent to an address other than your address of record or to a
Navy Federal branch, please call 1-888-842-6328.
*Final amount will include taxes, tags, title, and warranty.

[Martin0660]

Don't take validation of the request for information as credible ... the zero post thing is always fishey, but hey if your on a car search you might need to join a forum to get info on a car of interest

[yeahloh95]

get his phone number

[PaxtonShelby]

Thanks fellas - those were some quick answers! I really appreciate the help. I definitely don't want to turn away any potential buyers, as the order banks are now open for the 2014 GTs... Production won't start until mid Q#1 of 2013...but it sure would be nice to get my order in so I'm guaranteed delivery before cruising season is upon us!!

[gpfarrell]

I like the phone number idea. People on the Internet are fake. People on the phone are real. People in front of you are buyers!

[PaxtonShelby]

I hear ya Greg. I got a response back from the guy with his name and phone numbers at work and home, as well as an email address. So that is encouraging. I'd rather sell the car locally, but we'll see where this goes.

I REALLY want to drive up to Dan's dealership and place my order!!!

[cwh19]

I also needed the exact mileage and vin for my credit union. They also needed a picture of the car.

[95riosnake]

I would be cautious about the zero post count thing, but at the same time that doesn't mean it's fishy. I've been google-searching for parts in the past, then ended up registering on a forum with the sole purpose to PM a seller and buy something from them.

Also, anyone with eyes can get that information from most cars sitting in a parking lot (if the car has a non-digital odometer), so I would guess that you need a bit more information to try and apply for a lost title.

[gpfarrell]

I REALLY want to drive up to Dan's dealership and place my order!!!

I remember him saying you could do that anyhow. :twothumbsup:

[PaxtonShelby]

Yeah - more than you can imagine buddy!!

[1320goat]

....

[gpfarrell]

...but if he shows up with a certified check you're good to go.

Granted, this may be the edge of paranoia... but you're only okay as long as what appears to be a certified check isn't an excellent forgery of one.

[95V6]

I would rather sell in person. Meet them face to face. I know you want to move the car quick though.

[1320goat]

....

[TooFast98Cobra]

Just have him wire the money, it can't be reversed. Did that last month when I sold my Modena.

[gpfarrell]

That's why you do the transaction at the bank, I didn't mean to just take his check and wave goodbye as he drives your car away.

That's my favorite way! Even $100 bills can be faked, so I'd much prefer the teller hand me a check. Maybe there's a way this could be coordinated if there is a NFCU branch around here.

[u1arunit]

Bank wire transaction trumps all. ANY check no matter, whether cashiers, bank draft, or certified can have a stop payment applied. ANY ONE...!!

[1320goat]

....

[PaxtonShelby]

I have heard of bogus bank checks - not uncommon at all anymore unfortunately.

I like the idea of the wire transfer. Test drive the car - go to the bank - confirm the wire - bingo - all done. I have a good friend at my bank - I'll ask her about going that route if this all works out.

Thanks again folks - ALL your comments have been helpful!

[u1arunit]

I have never heard of a certified check being stopped. Once the check is stamped certified by the bank, they assume responsibility for the funds. But hey, I could be wrong. A quick google would confirm.

I asked my bank manager when I sold my GN. If you pay the fee ANY check can have stop payment applied. :goodidea:

[Terminated]

I asked my bank manager when I sold my GN. If you pay the fee ANY check can have stop payment applied. :goodidea:

I wish I would've known this when I got stranded in Forrest City, AR with a blown out spark plug in my hand...

[earleymp]

I can vouch for Navy Fed. That's what i have, he's either military or retired i'm sure. They are a great credit union and yes they do need that info. Of course, i would talk to him on the phone and everything first