Having a horsebox presents you with many opportunities, not just for transporting your own horses for business or leisure, but for making a little bit of money by renting it out to other horse owners. But where there is opportunity there are often also pitfalls to be wary of, particularly when horseboxes are a hot target for thieves and con artists. To help you steer clear of these pitfalls, here we take a look at some common horsebox scams. It of course should go without saying that by having the right horsebox insurance you may also be able to protect yourself against the consequences of such scams.
Fake brokers and buyers
Horse & Hound recently reported on an incident in which a horsebox owner was duped by a fake broker. In the middle of last year, Claire Nightingale advertised her Leyland DAF horsebox for sale. Shortly after she was approached by a man who offered to act as an agent to rent her horsebox out to a third party for a year. After carrying out a number of credit and fraud checks, she then signed a contract to that effect, with the additional agreement that the renter would pay for the horsebox in full at the end of the year.
All seemed to be going well, with the broker making a number of monthly payments as agreed. But then the money stopped coming, and Ms. Nightingale’s attempts to contact the man went unanswered. She has as yet been unable to track the broker or her vehicle down.
Unfortunately, when signing the contract, Ms. Nightingale also handed over her V5C document, which proves ownership of the vehicle, when the man claimed he needed it for horsebox insurance purposes. For this reason, the police are currently unsure if they are able to prosecute it as a criminal offence, as she willingly handed over the vehicle and the document.
Scams like this can be avoided by ensuring that you have multiple official documents to prove the identity and address of a broker or buyer before signing contracts or handing over your keys. You should also never hand over your registration documents before payment has been received in full.
Scam adverts
You should be equally as cautious when looking to buy a horsebox, and remember that if something sounds too good to be true then it probably isn’t.
A common scam involves the buyer being persuaded to transfer money electronically without even seeing the vehicle. This is often justified by the seller having recently moved address or similar. In some instances the money will just be taken and the vehicle will never materialise, while in others the vehicle may not be as advertised and have serious issues.
As with selling, it is wise to tread carefully when buying a horsebox, and insist on seeing and test driving any vehicle before you buy. Often it is also prudent to have the vehicle looked over by a mechanic.
Top tips for avoiding horsebox scams
- Don’t hand over any documents until the sale has been completed
- Be wary of unknown buyers or sellers who suggest the use of online money transfer services, particularly if they are located overseas
- Don’t provide sensitive information no matter what the circumstance
- Don’t buy without seeing the vehicle
- Trust your gut instincts
If you need expert advice about the horsebox insurance side of buying or selling a vehicle, don’t hesitate to get in touch with Park Insurance