Bank Repossessed cars - Fraud alert!

bkishore_77 · 21st June 2009, 09:09

Quote:

Originally Posted by pranabgohain

Though all matters have ended, it just keeps me wondering, how far did the 'Conman' intend to take this? Was he under the impression that the buyer will get fed-up some day and just let go the deal / money when he comes to know he isn't getting the car for that price after all? (Since there was no such car nor price in the first place).

Well, for one of the victim he refused pointblank that he is not going to return the money. The reason given was, the bank's agent is absconding with the money he gave.

discoverwild · 21st June 2009, 09:15

This looks more like one of those email prize-winning scams if you ask me, Kishore. No hard feelings. I sold my 1997 Carb Gypsy King Hard Top to a very close friend for 1.7 lakhs. And that was only because it was to a friend.

Anyway real glad that you got your money back.

blackbeast · 24th June 2009, 01:39

Beware of this Dealer my dear Bangaloreans. Im one the victims fallen for his trap. Interestingly, a colleague of mine who is a member of Team-bhp has also been cheated by this guy. This Dealer is smart in handling his customers. His office is in posh Kormangala layout. It is well furnished and has a tv lounge like in car showrooms. He advertises regulary in times of india. He not only tries to cheat on cars but also on real estate deals. I had been to Tumkur road when he insisted to take a look at a car in ICICI yard. But i discoverd from one of my friends who works in ICICI carloans that there is no yard in Tumkur road. I spent two hours getting there and two more hours in searching the parking yard. He is not even giving me the registration number of the vehicle. I read this thread after paying him the money. Too little Too late. nevertheless, it saved me from paying him a little more which i had promised him. He has said he will return my money by this weekend. I am just hoping he does.

Guys, If you or any of your friends have been cheated by this guy Imran, Citi Carz , behind BDA comples koramangala, please contact Kishore or me. We can surely help you in getting back the money.

007 · 24th June 2009, 10:03

This all is Horrible.!

But Team-BHP community has helped Kishore a lot.

Salute to Team-BHPians.

Latheesh · 24th June 2009, 11:33

Good to hear that you got your money back. Team-BHP rockz....

amtak · 24th June 2009, 12:32

Congratulations on getting your money back.

MODS: Can I request you to change the title to the thread to something appropiate like - Tricks used by a used car dealer by using bank's name or something. I am suggesting this as there is not even an inch of ICICI's involvement in this case expect the "car buyer" having transferred the money from his account to the car dealers.

blackbeast · 24th June 2009, 22:35

I agree with Amtak. " Dealers and Seized vehicles" would be appropriate i guess.

Red Circle · 25th June 2009, 10:22

I think the best way to teach this crook a lesson is to report it to the media channel TV9, They will make such a story out of this that no other dealer will dare to do this on customers. if we have 3 victims on our very own Team BHP where there are so many guys to help imagine how many he would have cheated who does not know how to deal in such situations. if bkishore is ready then definitely this can reach the media and lot of other customers will be saved from such crooks.

bkishore_77 · 25th June 2009, 11:58

Quote:

Originally Posted by Red Circle

I think the best way to teach this crook a lesson is to report it to the media channel TV9, They will make such a story out of this that no other dealer will dare to do this on customers. if we have 3 victims on our very own Team BHP where there are so many guys to help imagine how many he would have cheated who does not know how to deal in such situations. if bkishore is ready then definitely this can reach the media and lot of other customers will be saved from such crooks.

I'm game for it. But I don't have any proof of this malpractice now since I returned the cheque and the agreement when he returned my cash. One of the victim does not have the cheque nor the agreement. but another victim have both. I will speak to my friends here and find out if they are willing to proceed. Any members who have conatcts in TV9. ?

Max · 25th June 2009, 13:10

can someone post guidelines / article / post about "how to buy bank repossessed car"

freewheelburnin · 25th June 2009, 13:22

Please do not buy any vehicle through Mr Imran city carz. This does not mean that there are no seized vehicles available in the market.But it is better to locate a bank manager in charge of seizing vehicles.Initially i was behind buying seized car.But for many people cars are a valuable thing which was materialization of a dream and painfully purchased by the owner only to be seized by goondas appointed by the so called bank.If u can see the pain in the owner's eyes you will never ever go for a seized vehicle.But a reliance money manager who seizes vehicles stays in my apartment.If anyone is interested i can connect you to him.With him atleast you will not be dealing with some thug.But i do not endorse the idea at all.You can pm me if necessary.He had a Mercedes C class for sale for under 10 lakhs probably a year or 2 old.A superb for 15 lakhs or so(almost new old shape) etc....But just think about it if it is really worth going that route...

Red Circle · 25th June 2009, 13:51

Quote:

Originally Posted by bkishore_77

I'm game for it. But I don't have any proof of this malpractice now since I returned the cheque and the agreement when he returned my cash. One of the victim does not have the cheque nor the agreement. but another victim have both. I will speak to my friends here and find out if they are willing to proceed. Any members who have conatcts in TV9. ?

This thread itself is enough proof, You dont have to provide them any documents as such. Contact someone from TV9 and explain everything that has happened and they will plan out how to trap him. You dont even have to disclose your identity. If someone on Team bhp has contact with TV9 then it would be more easy to carry out the job.

n.devdath · 25th June 2009, 13:56

It is possible to buy a good siezed car from any bank if, like a few other people have mentioned, you know the staff members of the bank's collection unit. I know a few people from HDFC bank and am trying to get a good Octavia if possible through them.
The proccess is pretty simple though time consuming and irritating.
1. Go to the collection center of any bank and get a list of the cars currently lying with them.
2. Decide on a car/s of your choice based on the price, kms run, make etc.
3. Get the location of that car ( banks have multiple yards) from the concerned official.
4. The bank will issue a letter or a "gate pass" to show to the guard at the godown for the inspection of the locked vehicle.
5. There is usually a landline phone with the guard of the yard. Call up and fix a time. A few banks may also send a representative of the bank or a driver to open the vehicle for you. This depends on your level of contact with the bank.
6. If you like the vehicle, then come back to the bank and enquire about the remaining loan balance on the vehicle including the transfer charges with the RTO from the previous onwer to your name.
7. A few banks do not refinance cars which have defaulted so the payment arrangements need to be made accordingly.
8. Make the payment and collect the receipt which mentions a few details about the car to be purchased like the registration number, the model, make etc.
9. Fix up an appointment with the bank's RTO agent ( most of them have connections with multiple agents) and meet up at the relavant RTO office, sign the required forms, get the ownership transferrred to your name.
10 Collect the vehicle from the godown after a Delivery Letter/Order is issued from the bank.

blackbeast · 29th June 2009, 01:07

Hey Guys, I got my money back. My special thanks to bkishore_77 & freewheelburnin. Team-bhp has really saved me from what could have been a disaster. I'm very happy and decided to go for a new Safari.

ashishy · 29th June 2009, 14:46

the question still remains in my mind: what is done with the cars seized by the banks for defaulted car loans?

21st June 2009, 09:15	#47
discoverwild Senior - BHPian Join Date: May 2009 Location: BLR/CBE Posts: 1,296 Thanked: 3,650 Times	This looks more like one of those email prize-winning scams if you ask me, Kishore. No hard feelings. I sold my 1997 Carb Gypsy King Hard Top to a very close friend for 1.7 lakhs. And that was only because it was to a friend. Anyway real glad that you got your money back. Last edited by discoverwild : 21st June 2009 at 09:18. Reason: forgot to congratulate Kishore :)
	() Thanks

24th June 2009, 01:39	#48
blackbeast BHPian Join Date: Jun 2009 Location: Bangalore Posts: 349 Thanked: 161 Times	Beware of this Dealer my dear Bangaloreans. Im one the victims fallen for his trap. Interestingly, a colleague of mine who is a member of Team-bhp has also been cheated by this guy. This Dealer is smart in handling his customers. His office is in posh Kormangala layout. It is well furnished and has a tv lounge like in car showrooms. He advertises regulary in times of india. He not only tries to cheat on cars but also on real estate deals. I had been to Tumkur road when he insisted to take a look at a car in ICICI yard. But i discoverd from one of my friends who works in ICICI carloans that there is no yard in Tumkur road. I spent two hours getting there and two more hours in searching the parking yard. He is not even giving me the registration number of the vehicle. I read this thread after paying him the money. Too little Too late. nevertheless, it saved me from paying him a little more which i had promised him. He has said he will return my money by this weekend. I am just hoping he does. Guys, If you or any of your friends have been cheated by this guy Imran, Citi Carz , behind BDA comples koramangala, please contact Kishore or me. We can surely help you in getting back the money.
	() Thanks

24th June 2009, 10:03	#49
007 BHPian Join Date: Apr 2009 Location: Nasik Posts: 98 Thanked: 37 Times	Salute to Team-BHPians. This all is Horrible.! But Team-BHP community has helped Kishore a lot. Salute to Team-BHPians.
	() Thanks

24th June 2009, 11:33	#50
Latheesh Senior - BHPian Join Date: Dec 2007 Location: CNN/BLR Posts: 4,242 Thanked: 10,080 Times	Good to hear that you got your money back. Team-BHP rockz....
	() Thanks

24th June 2009, 12:32	#51
amtak Senior - BHPian Join Date: Oct 2006 Location: Mumbai - The city of Sea Link!!! Posts: 2,914 Thanked: 899 Times View My Garage	Congratulations on getting your money back. MODS: Can I request you to change the title to the thread to something appropiate like - Tricks used by a used car dealer by using bank's name or something. I am suggesting this as there is not even an inch of ICICI's involvement in this case expect the "car buyer" having transferred the money from his account to the car dealers.
	() Thanks

24th June 2009, 22:35	#52
blackbeast BHPian Join Date: Jun 2009 Location: Bangalore Posts: 349 Thanked: 161 Times	I agree with Amtak. " Dealers and Seized vehicles" would be appropriate i guess.
	() Thanks

25th June 2009, 10:22	#53
Red Circle BHPian Join Date: Jan 2009 Location: Bangalore Posts: 74 Thanked: 16 Times	I think the best way to teach this crook a lesson is to report it to the media channel TV9, They will make such a story out of this that no other dealer will dare to do this on customers. if we have 3 victims on our very own Team BHP where there are so many guys to help imagine how many he would have cheated who does not know how to deal in such situations. if bkishore is ready then definitely this can reach the media and lot of other customers will be saved from such crooks. Last edited by Red Circle : 25th June 2009 at 10:24.
	() Thanks

25th June 2009, 13:10	#55
Max BHPian Join Date: Jun 2004 Location: Thane Posts: 538 Thanked: 98 Times View My Garage	can someone post guidelines / article / post about "how to buy bank repossessed car"
	() Thanks

25th June 2009, 13:22	#56
freewheelburnin BHPian Join Date: Oct 2007 Location: bangalore Posts: 277 Thanked: 33 Times View My Garage	A call to all Team-bhpians Please do not buy any vehicle through Mr Imran city carz. This does not mean that there are no seized vehicles available in the market.But it is better to locate a bank manager in charge of seizing vehicles.Initially i was behind buying seized car.But for many people cars are a valuable thing which was materialization of a dream and painfully purchased by the owner only to be seized by goondas appointed by the so called bank.If u can see the pain in the owner's eyes you will never ever go for a seized vehicle.But a reliance money manager who seizes vehicles stays in my apartment.If anyone is interested i can connect you to him.With him atleast you will not be dealing with some thug.But i do not endorse the idea at all.You can pm me if necessary.He had a Mercedes C class for sale for under 10 lakhs probably a year or 2 old.A superb for 15 lakhs or so(almost new old shape) etc....But just think about it if it is really worth going that route...
	() Thanks

25th June 2009, 13:56	#58
n.devdath BANNED Join Date: Jun 2009 Location: Bangalore Posts: 4,287 Thanked: 2,811 Times	Possible to buy a good Siezed Car. It is possible to buy a good siezed car from any bank if, like a few other people have mentioned, you know the staff members of the bank's collection unit. I know a few people from HDFC bank and am trying to get a good Octavia if possible through them. The proccess is pretty simple though time consuming and irritating. 1. Go to the collection center of any bank and get a list of the cars currently lying with them. 2. Decide on a car/s of your choice based on the price, kms run, make etc. 3. Get the location of that car ( banks have multiple yards) from the concerned official. 4. The bank will issue a letter or a "gate pass" to show to the guard at the godown for the inspection of the locked vehicle. 5. There is usually a landline phone with the guard of the yard. Call up and fix a time. A few banks may also send a representative of the bank or a driver to open the vehicle for you. This depends on your level of contact with the bank. 6. If you like the vehicle, then come back to the bank and enquire about the remaining loan balance on the vehicle including the transfer charges with the RTO from the previous onwer to your name. 7. A few banks do not refinance cars which have defaulted so the payment arrangements need to be made accordingly. 8. Make the payment and collect the receipt which mentions a few details about the car to be purchased like the registration number, the model, make etc. 9. Fix up an appointment with the bank's RTO agent ( most of them have connections with multiple agents) and meet up at the relavant RTO office, sign the required forms, get the ownership transferrred to your name. 10 Collect the vehicle from the godown after a Delivery Letter/Order is issued from the bank.
	() Thanks

29th June 2009, 01:07	#59
blackbeast BHPian Join Date: Jun 2009 Location: Bangalore Posts: 349 Thanked: 161 Times	Hey Guys, I got my money back. My special thanks to bkishore_77 & freewheelburnin. Team-bhp has really saved me from what could have been a disaster. I'm very happy and decided to go for a new Safari.
	() Thanks

29th June 2009, 14:46	#60
ashishy BHPian Join Date: Apr 2009 Location: MH01 Posts: 227 Thanked: 134 Times View My Garage	the question still remains in my mind: what is done with the cars seized by the banks for defaulted car loans?
	() Thanks