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Thread: House of cars representing a buyer - is it legit?

  1. #1
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    Default House of cars representing a buyer - is it legit?

    Hey guys. My gut says it's sketch but love to get you guys' feedback on this.

    I'm currently selling a car on Kijiji/Autotrader. A guy from House of Cars sales they have a client interested in a car with my exact specs/color/condition and they are acting as the financing company to provide financing for this client to buy my car. They want me to drop by their place to have the car checked out, and then proceed with the transaction.

    Sounds sketch.. is this legit?

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    I had them do that to me too, wasn’t seeing much action on it so figured why not? Ended up having the buyer flake and was a waste of my time

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    House of Cars seems like such a sleezy place. Wouldn't surprise me one bit if they got shut down for illegal activities.
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    That's probably to get you in the doOr and then maybe sway you in another direction. I gotta becareful how I word this. I don't want raj to get a letter lol my name is Sam so add a c in there somewhere and you'll get my point.

    Are they charging a fee to sell your car?

    Funny how they have a buyer interested in your car, that's like someone reaching out to me online saying they have a girl interested in me but I have to pay the finders fee first

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    Typical Kijiji scam. They’ll want a fee, the non existent buyer “won’t be able to get financing” they keep the fee, and you’re still stuck with your car.
    ...

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    Just tell them to buy the car from you at full ask and deal with the rest themselves

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    Also: there was no hard sell... they were super nonchalant about it all... more focused on sinking free throws in their mini basketball hoop than selling me on anything... “yeah, just leave the keys there, thanks”

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    Quote Originally Posted by JfuckinC View Post
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    Just tell them to buy the car from you at full ask and deal with the rest themselves
    Yes.

    Dealer: I have a buyer for your $20k car but my fee is $500.
    Me: Sweet. Cut me a cheque for $19,500 and the car is yours.
    Dealer: It doesn't work like that. You have to pay $500.
    Me: But you have a guy? This saves a step.
    Dealer: ....
    Me: ....



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    is this e-z cars and trucks . com scam part 2? James? is that you?
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    Couldn't hurt as long as you determine price before going down and wasting your time.

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    Quote Originally Posted by Disoblige View Post
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    Couldn't hurt as long as you determine price before going down and wasting your time.
    OP mentioned in his post ' they are acting as the financing company to provide financing for this client to buy my car'

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    IIRC house of cars has extremely high financing rates correct? So I'd assume most of the clients are of lower education or made poor decisions. See house of car ads, salesman tells them they can get them in for the low payment of X/month (for 8years or so but thats Marth). Person with poor credit/concept sees the car they can get knowing they don't have the cash to purchase online and have been denied at other dealerships. HoC then approaches someone online looking to buy the car knowing they will get a huge financing fee plus mark up flip for doing so.

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    I used to get letters from Country Hills Hyundai about how a client is looking for the exact year and model of the car I owned

    Same shit, I suppose.

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    I'll play contrarian - HoC does serve a segment of the market that is ignored by most sources of vehicle finance, aka sub-prime and they're actually pretty good at it (good at it, as in they have a bunch of loan sharks on speed dial).

    It is entirely possible that they do have a buyer for your car. It would go something like this -

    Guy with a 500-something credit score is at one of their lots and they get him to fill out an app... *wow* suddenly he's approved. The crux of the deal is that he's only willing to bend so far over and if he's going to grab his ankles, he'll only do it for 'one of those' (insert RX_EVOLV's car here). The guy at HoC, not wanting to miss out on a deal at 20%+ interest, plus the $900 doc fee, plus the $500 "because we can fee", plus the $700 "why not one more" fee that they're going to heap on to this poor sap, scours private listings to find a car for this, er, client.

    If you're not getting the results you want from the ad, I'd give it a shot... Make sure they out line their offer before you make the effort to show them your car.

    It may not be conventional, and someone's likely getting fucked, but I don't think it's RX_EVOLV in this case...


    Edit - I should mention that the situation with their buyer doesn't necessarily have to be that questionable. I know people that have had very reputable dealers 'broker' private sales for reasons such as tax-credits or wanting a lease (rather than finance that most people would get from their bank or LOC)... It could just be that someone wants to trade their car, not lose out on the tax credit and doesn't know where else to turn...
    Last edited by you&me; 10-12-2018 at 12:33 PM.

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    Quote Originally Posted by max_boost View Post
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    That's probably to get you in the doOr and then maybe sway you in another direction. I gotta becareful how I word this. I don't want raj to get a letter lol my name is Sam so add a c in there somewhere and you'll get my point.
    Nah, the owner will just call me. We know each other haha.

    With that said, while I know the guy and have hung out, I know nothing about House of Cars.
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    hmm interesting guys. Thank you for all the comments. I told him I would think about it and let him know by end of day, but he's persistent and been calling.

    I figured if someone is looking for alternative financing, they would at least, in person, look at my car first.. and then have HoC step in to close the deal. I'll see where this goes but will be extra cautious with the process.

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    The manager at one of their shops bought my last car with a company cheque. It was straight forward with no complication. That's all the experience I have with them.


    Have them look at the car and take nothing other than cash or bank draft. It's a sale opportunity and it costs you nothing other than time, why not?

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    Quote Originally Posted by RX_EVOLV View Post
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    I figured if someone is looking for alternative financing, they would at least, in person, look at my car first.. and then have HoC step in to close the deal. I'll see where this goes but will be extra cautious with the process.
    You overestimate the folks that look for these financing deals.

    Looks good in pictures, makes me look cool, financing approved, SOLD! Seriously, we had someone like that in our extended family, $6000 car at best, can't qualify for shit, car had 2 claims including hail damage on it so $6k was generous. Sold for $14k, TCO including finance was as something like $35k.

    Was there a test drive? Nope. Was there a carfax pulled? Nope. We pulled the carfax when trying to sell the car for his wife to find 2 major claims on it. Seriously, these people's #1 criteria is "approved", second criteria are the payments more than my paycheck. Then get whatever the fuck you can get ASAP before the approval is reversed.
    Originally posted by SEANBANERJEE
    I have gone above and beyond what I should rightfully have to do to protect my good name

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    I've asked dealers before to keep an eye out for trades on specific things I was looking for. Maybe that's the case here too, where they actually do have someone looking for that exact car.

    Whether the dealers actually did put any effort in, I don't know. It never panned out. Maybe everyone thought it was a scam.
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    Well I gave him my final price. He replied saying his client has been approved for financing and will be going in tomorrow to sign the documents. Once it is signed, the manager will come pick up the car and hand me a certified cheque...

    Seems too easy.. we will see..

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