I have some questions about 'Escrow'? and about the loan.

khsysh · 02-25-2012, 11:18 AM

Hello guys

.

I have some questions.

I'm in the market and trying to buy a Z right now.

And the seller wants to have a transaction through Escrow.

Is it Escrow reliable company to proceed this transaction?

Also the seller said, I have to deposit the full amount of the price to Escrow but this is not the problem. I have to get a loan to do this, but what If I deposit the full price and don't like the car after I see it. Can I return that check to a bank again?

Is anyone had any transaction through Escrow?

I need advice! Thank you for your time!

khsysh · 02-25-2012, 11:23 AM

Also the price of that Z is cheaper than what I thought so I am really cautious right now

.

frost · 02-25-2012, 11:28 AM

You serious? Absolutely not.

m4a1mustang · 02-25-2012, 11:29 AM

S
C
A
M

What does that spell?

SCAM!

shadoquad · 02-25-2012, 11:30 AM

Escrow isn't a company.

It's a method of payment.

Escrow - Wikipedia, the free encyclopedia

And it's not something I would ever do to buy a car.

frost · 02-25-2012, 11:31 AM

I have someone from Nigeria on the phone, he says I won a million dollars, I just need to put $10k into escrow to cover the taxes

But seriously ... no.

khsysh · 02-25-2012, 11:33 AM

So, even Escrow.com is not a secure site?

theDreamer · 02-25-2012, 11:35 AM

Quote:

Originally Posted by khsysh

So, even Escrow.com is not a secure site?

It might be a secure site, but what we are saying is this is a scam by the seller.
Do not buy a car this way.
Get a loan from your back, ayy the guy with that check and then pay back your bank.

frost · 02-25-2012, 11:37 AM

Quote:

Originally Posted by khsysh

So, even Escrow.com is not a secure site?

It's not about whether the site is secure, you're giving your money to a third party you don't know, and you will never see it again, nor the car.

m4a1mustang · 02-25-2012, 11:38 AM

Yup. It's a total scam dude.

khsysh · 02-25-2012, 11:40 AM

Hmm, that makes sense. Thank you

I think I was too excited cause the price was cheap

m4a1mustang · 02-25-2012, 11:41 AM

If it sounds too good to be true it usually is.

theDreamer · 02-25-2012, 11:41 AM

Quote:

Originally Posted by khsysh

Hmm, that makes sense. Thank you

I think I was too excited cause the price was cheap

If you are buying from a private seller, make sure to get the VIN and have someone run a carfax or similar report.
This will help you determine if the car has had any problems, especially if the deal seems to good to be true.

khsysh · 02-25-2012, 11:44 AM

Thanks

This is why I'm posting threads whenever I have questions. Problem solved.

PapoZalsa · 02-25-2012, 09:59 PM

Quote:

Originally Posted by khsysh

Thanks

This is why I'm posting threads whenever I have questions. Problem solved.

02-25-2012, 11:18 AM	#1 (permalink)
khsysh Base Member Join Date: Feb 2009 Location: GA Posts: 104 Drives: 12 PW Z mt Rep Power: 16	I have some questions about 'Escrow'? and about the loan. Hello guys . I have some questions. I'm in the market and trying to buy a Z right now. And the seller wants to have a transaction through Escrow. Is it Escrow reliable company to proceed this transaction? Also the seller said, I have to deposit the full amount of the price to Escrow but this is not the problem. I have to get a loan to do this, but what If I deposit the full price and don't like the car after I see it. Can I return that check to a bank again? Is anyone had any transaction through Escrow? I need advice! Thank you for your time!

02-25-2012, 11:29 AM	#4 (permalink)
m4a1mustang A True Z Fanatic Join Date: Feb 2009 Location: Northern VA Posts: 55,385 Drives: on two wheels Rep Power: 6962	S C A M What does that spell? SCAM! __________________ - Steve Zs & Coffee - Saturdays at 10AM in Fairfax, VA and Columbia, MD (Click the banner!) LIKE us on Facebook!

02-25-2012, 11:38 AM	#10 (permalink)
m4a1mustang A True Z Fanatic Join Date: Feb 2009 Location: Northern VA Posts: 55,385 Drives: on two wheels Rep Power: 6962	Yup. It's a total scam dude. __________________ - Steve Zs & Coffee - Saturdays at 10AM in Fairfax, VA and Columbia, MD (Click the banner!) LIKE us on Facebook!

02-25-2012, 11:41 AM	#12 (permalink)
m4a1mustang A True Z Fanatic Join Date: Feb 2009 Location: Northern VA Posts: 55,385 Drives: on two wheels Rep Power: 6962	If it sounds too good to be true it usually is. __________________ - Steve Zs & Coffee - Saturdays at 10AM in Fairfax, VA and Columbia, MD (Click the banner!) LIKE us on Facebook!

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02-25-2012, 11:23 AM	#2 (permalink)
khsysh Base Member Join Date: Feb 2009 Location: GA Posts: 104 Drives: 12 PW Z mt Rep Power: 16	Also the price of that Z is cheaper than what I thought so I am really cautious right now .

02-25-2012, 11:30 AM	#5 (permalink)
shadoquad A True Z Fanatic Join Date: Apr 2010 Location: . Posts: 42,608 Drives: . Rep Power: 3886	Escrow isn't a company. It's a method of payment. Escrow - Wikipedia, the free encyclopedia And it's not something I would ever do to buy a car.

02-25-2012, 11:33 AM	#7 (permalink)
khsysh Base Member Join Date: Feb 2009 Location: GA Posts: 104 Drives: 12 PW Z mt Rep Power: 16	So, even Escrow.com is not a secure site?

02-25-2012, 11:40 AM	#11 (permalink)
khsysh Base Member Join Date: Feb 2009 Location: GA Posts: 104 Drives: 12 PW Z mt Rep Power: 16	Hmm, that makes sense. Thank you I think I was too excited cause the price was cheap

02-25-2012, 11:44 AM	#14 (permalink)
khsysh Base Member Join Date: Feb 2009 Location: GA Posts: 104 Drives: 12 PW Z mt Rep Power: 16	Thanks This is why I'm posting threads whenever I have questions. Problem solved.