is this a scam?

[Soldiers33]

Im selling a motorbike after realizing bikes are just not me. This guy contacts me and says that he can pay half of the price upfront and then the next half in monthly instalments. I say not this is too dodgy I dot even know you. He replies to me saying we can go bank together and set up a direct debit with the bank so every month you will recieve a certain amount until the full payment has been recieved or i can get a loan from the bank pay you in full then ill pay back to the bank.

Does anyone else think it sounds a bit fishy? He lives close to but I dont know. Is that even possible to setup direct debit to another person? (not that I will accept this).

[carmatic]

i have set up direct debits to go to my landlords' accounts before, but im not sure if they are special "business" accounts which are able to receive direct debit money...

[Shock Doc]

If he can get a loan from the bank to pay it with, sure, why not?

[Soldiers33]

i have set up direct debits to go to my landlords' accounts before, but im not sure if they are special "business" accounts which are able to receive direct debit money...

thats exactly what I was thinking. fair enough if I was a business then maybe yes, but i just got a normal account, and plus he could cancel the direct debit any time even if it was possible.

[Reverse Engineer]

You also have to bear in mind that a direct debit can be cancelled at any time. i could set one up today, come home, and cancel it through my online banking, just by clicking one button.

edit: typed this before i read the above post.

[ajua]

If he can get a loan from the bank to pay it with, sure, why not?

This. Why not? The problem, if it ever becomes one, will be with him and the bank, not you.

[Olemus]

Definitely tell him to get the loan, the direct debit thing is far too risky.

[kinetix63 Veteran]

I think the guy is implying that the OP is the one who should take out the loan.

I'll be totally honest, don't go near this with a barge pole. If he wants the bike, he pays the full value without getting you involved in any way with direct debits/standing orders/loans/whatever.

[Andrew Lyle Global Moderator]

Stay away tbh. It's not worth the risk.. considering you'll probably sell it for what you want in a week or two.

[carmatic]

I think the guy is implying that the OP is the one who should take out the loan.

good point, didnt catch this the first time round i read it...

so yeah, dont go ahead with this guy cuz it sounds like he's just gonna cancel the direct debit ... then again if both of you are talking to someone who works at the bank, it would become obvious straight away what is going on

[Soldiers33]

good point, didnt catch this the first time round i read it...

so yeah, dont go ahead with this guy cuz it sounds like he's just gonna cancel the direct debit ... then again if both of you are talking to someone who works at the bank, it would become obvious straight away what is going on

Yh he seems dodgy. He suggest taking a loan, then when I accept that offer he tries avoiding it.

[Rob Veteran]

What the buyer can create is a standing order (not a direct debit, that's something that comes from your side) to you. But why bother with the hassle and insecurity when he can cancel this at any time and leave you without half the price of your bike? Stay clear. :)

[Nick H. Supervisor]

You can set up a direct debit with anyone. However, there is nothing to stop either party cancelling the direct debit at any time. You just head to the bank and say that you want to stop it.

However, setting up a direct debit with a bank means that both parties will have the bank details of the other person, and with that you would be able to have the address of the person in particular. I would say that you get some form of contract set up, or even just a video of the person saying that they are agreeing to the plan. That way if it went wrong you would be able to use the evidence against the other party in order to get them to make the rest of the payment. After all, they would be committing fraud, which is a crime.

My final thoughts would be that if you have any reason to doubt the deal, then why continue with it? As others have said, you'll be bound to find a seller willing to pay the whole amount.