In
general, avoid a bike, buyer or seller when you see the following warning signs:
1. You receive a poorly worded email from a potential buyer stating they are
an international buyer wishing to purchase the vehicle and can arrange shipping.
2. A seller will not supply you with a UK landline number or will not
communicate via the phone
3. A bike that seems extremely cheap for the year/model/condition.
4. A buyer or seller seems keen to push a certain escrow service.
IF A SELLER OR BUYER STARTS TO TALK ABOUT SHIPPING
COMPANIES AND/OR WESTERN UNION MONEYGRAMS - WALK AWAY.
Unfortunately, it seems anything that involves money these days attracts
scammers. The used motorcycle market is no different. A number of scams are
currently doing the rounds and we'll show a few tips below on how to identify
the common ones.
Note that the vast majority of buyers and sellers are honest, but occasionally
you may encounter one of the scams listed below so it pays to err on the side of
caution when buying or selling a motorcycle.
Scams affecting sellers:
Vehicle Matching Scam
This is where a seller is cold called by a company stating that they have a
buyer or client wanting a vehicle exactly the same as yours. They will use the
hard sell and persuade you that the buyer has cash waiting and, for a 'small' fee
,they will put you in touch with the buyer. This 'small fee' is normally around
£60-£100 and if you pay up, you will never hear from the company again. The
buyer does not exist.
If contacted by one of these companies, end the conversation politely but firmly.
If the caller says they represent Ride Trader, it is untrue.
Ride Trader will NEVER contact you by phone about your ad.
If you receive a call or email from anyone posing as a member of Ride Trader
staff, please contact us immediately.
The
Export Scam (or 419 Fraud)
This is normally received via email in the form of a poorly worded message from
a foreign country (normally Africa, Netherlands, USA). The sender states they
are a dealer who has a client overseas wishing to purchase your vehicle. They
will offer to send a bank draft to cover the vehicle price + shipping cost to
you and ask you to wire the shipping amount to their contact in the UK once you
have paid the draft into your bank. Only after you have wired the shipping cost
to their contact will you realise that the original bankers draft was a fake.
Ride Trader recommends that you do not sell any vehicles overseas or deal with
any overseas buyers. Only deal with UK resident buyers who are willing to talk
to you on the phone and only release a vehicle after your bank has confirmed
funds have cleared.
A bankers draft is not cash and can be forged, stolen or cancelled. It is a
common misconception that a bankers draft is as good as cash, IT IS NOT.
If you receive these emails, simply delete them and do not reply or acknowledge
them.
False
Escrow Service
An Escrow service is a way of transferring money or property via a neutral 3rd
party company. This fraud can affect both buyers and sellers and involves the
scammer using a fake escrow company which may appear legitimate and have a
convincing website.
If a buyer or seller insists on using escrow and the escrow company is not a
legitimate well known service then avoid. You will not see your money again.
Fraudulent/Dishonest Buyers
If selling your motorcycle, chances are that the buyer will visit your property
to view the bike. Take a few precautions such as:
- Make sure someone else is at home with you when the buyer visits.
- Do not allow the buyer to view any more of your property than they need to (don't lead
them past your collection of priceless Ming vases on the way to the bike!).
- Try not to leave the buyer alone with the bike and ignition keys. Thefts have occurred
when the buyer has asked the seller to fetch something like the log book and
seller has returned to find both bike and 'buyer' gone.
- Obviously, with a motorcycle, it is not always possible to accompany a buyer on a test
ride. Make sure you obtain the cash price as a deposit prior to permitting a
test.
Text
Message/Premium Rate Number Scams
If you put your mobile phone number in the advertisment do not respond to any
text messages from buyers asking you to ring them back on a certain number. This
may turn out to be a premium rate number and you will be charged a high rate, a
portion of which goes to the fraudulent buyer
Scams affecting buyers:
Fraudulent Sellers
Be cautious if a seller refuses to communicate via telephone and will only
communicate via email. They may state that they are currently out of
the country so can use email only. Be even more cautious if the mails you
receive are poorly worded.
A seller may ask for a cash deposit in advance to secure the vehicle. Never
provide a deposit without first meeting the seller and viewing the vehicle.
Clocking
Clocking is a well known fraud and involves the seller tampering with the
motorcycles odometer to reduce the displayed mileage. Check that:
- The general condition and appearance of the motorcycle fits with the displayed mileage.
Why has the apparently low mile bike got very worn footpegs and tank paint?
- Check the instrument cluster has not obviously been opened and tampered with, any
screwdriver marks where the case has been opened?
- The mileage on previous MOT and service documentation matches the displayed mileage.
If you view a motorcycle that you believe to be clocked then contact Trading
Standards.
False
Escrow Service
As explained above, avoid any sellers pushing to use an escrow service.
Stolen
Bikes
Do your homework before visiting a bike to familiarise yourself with the
location of the VIN (Vehicle Identification Number). Check how it should look
beforehand and, if it appears to have been tampered with, walk away. Also check
the VIN tallies up with the number stated in the bikes documentation.
Avoid any bike that are advertised for sale at well below list price without a
good reason, it could be a stolen bike that the seller wants off his hands
quickly.
It also also a good idea to run a check of the bike using one of the many
vehicle history checking service available via companies such as the RAC. |