I recently had listed my customized 03 Mustang GT Convertible With Supercharger on sale on craigslist in NYC about 2 weeks ago. I got plenty of calls and plently of potential buyers willing to purchase my car. So one potential buyer calls me from Miami that had alot of intrest in my car. So we agreed on a price of 18K that was contingent upon wheter or not he liked my car. He also asked me if I could write the car as a gift by putting $0 on the Bill Of Sale and the Title so he could avoid paying sales taxes in Florida. He said that this is a general legal procedure which people follow when doing a private sale this would help him save money by not paying taxes since he is paying his travel expenses to see my car. I talked to my tax advisor and he said this was fine and I can also deduct this sale off my taxes. So last thursday the buyer flew into NYC to pick up my car. He gave me a Capital One Auto Loan Check for 18K in which I went to my bank to verify funds. My bank said the funds were good and its basically a Certified Cashiers Check. So I gave the buyer a Bill Of Sale and NY Title with $0 on it, and he drove back to Miami. So I go to my bank today and they tell me the 18K Capital One Auto Loan check had a stop payment issued on it. We called Capital One, and they said they issued a stop payment because the buyer told them he lost the check so they voided the check and issued him a new one. So I call the buyer today and no answer. Am I screwed ? I think I might have to go down to Miami and pay him a visit. It appears that I am out of my money and car since I dont have any funds. Is their anything I can do legally ? I think my car is stolen. Please help.
EMERGENCY MY MUSTANG GT CONVERTIBLE APPEARS TO BE STOLEN SOMEBODY HELP ME QUICKLY
- Thread starter superchargedGTc
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1991vert
10 Year Member
Do you have an address? Has the title changed hands already? If not, report the vehicle stolen. When he tries to register it, it should come up as stolen?
I would report it stolen as soon as possible, and don't ever let your car go until the cash is in your hands or definatly in the bank, do you have the title? Did you sign it over or what? As long as you have the check he gave you, even if it has been cancelled, that is still proof he was there to buy the car and tried to screw you, don't worry too much, I bet you get the car or the money.
mustangfan1990
New Member
dude get his address from the place that issued the check and tell them what happened. If it was me I would make a trip to Miami and whoop his ass and take my car back.OR you could hurry and file for a lost title. IF he hasnt sent the title off yet you can get another title quick
I read half of the first sentence and smelled a scam!! Not to be mean, but how did you fall for this? I would never release a car until the money cleared and was in my bank. NEVER go by what soembody tells you over the phone.
Dude your car is STOLEN. Report NOW!!!
Have Capital One look into it and give them your detective's number and vice versa. That SOB
Have Capital One look into it and give them your detective's number and vice versa. That SOB
1991vert
10 Year Member
BK_CAULEY
it's built for speed not longevity, woman
mustangfan1990
New Member
Yeah, you can't write $0 anymore. When you register it they go by the book value anyway.
He just technically legally got your car for free. Even if you find the car, he doesn't have to give it to you since the title and bill of sale state $0 and you signed it over to him.
If you track him down...get a lawyer.
He just technically legally got your car for free. Even if you find the car, he doesn't have to give it to you since the title and bill of sale state $0 and you signed it over to him.
If you track him down...get a lawyer.
90blacknight
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- Apr 11, 2006
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I don't understand how they could refuse to honour it if it's certified and your name is on it! It should be as good as cash! How the hell does your banking system work down there? When I certify a cheque, the money comes out of my bank account immediately. That cheque is the same thing as me giving a guy a wad of cash! They have to honour it now that it's been "found". I mean what did they do? Credit the guy and allow him to close the account? No investigation, nothing? If he lost the cheque, that becomes his problem! Idiots. Contact the police and a lawyer immediately. If it were that easy, everyone would be scamming banks.
90blacknight
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- Apr 11, 2006
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PS. You should always get a bill of sale with the real purchase price with his signature.
Unless they changed the laws in Florida, you can still do it. I did it two years ago when I sold/gave my Mother my 99 Cougar. I wrote a bill of sale up that said "gift" and she paid no taxes when she changed the title over to her name and registered the car.
Of course that was between my Mother and I, so maybe family is different.
Either way the bill of sale and the check for $18k should be enough to prove that money was supposed to change hands. He can't use the "he gave me the car' excuse because if that was the case then there would be no need for him to have handed you an 18K check.
5.0Droptop
...all those nights we shared, and you're a dude??
Special Agent Mukity-Muck Whats in Charge Round Here
REPORT THE CAR STOLEN> YOUR BANK CAN VERIFY THAT YOU WERE GIVEN A BAD CHECK> CONTACT YOUR INSURANCE COMPANY ASAP!!!! THEY CAN HELP!
A HAND WRITTEN BILL OF SALE IS USELESS IF IT ISNT NOTERIZED!
A HAND WRITTEN BILL OF SALE IS USELESS IF IT ISNT NOTERIZED!
I don't know how it works in the US, but here in Ontario, once a checque has been "certified" it's as good as cash. You can't cancel it, you can't put a stop payment on it. If you loose it, you're screwed. If anything, I'd be raising hell with your bank asking them why they told you the checque the cheque was good, when it wasn't!
Moved to Talk BTW.
Moved to Talk BTW.
25thmustang
Mustang Master
You better get a good lawyer on that now. The only thing you have to work off is the fact he wrote a check, meaning he intended to pay for the car. You writing zero on the bill of sale is a dumb thing to do. Never write a low number, just have the person suck it up and pay for the car.
5.0Droptop
...all those nights we shared, and you're a dude??
Special Agent Mukity-Muck Whats in Charge Round Here
The last time I read a thread about something like this. The car ( a corvette) made it to florida,was retitled and sold a couple of times before they ever found it. I dont know that it was ever resolved other than the insurance company paid out because the car was "stolen".
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