ONLINE VEHICLE SCAM

 

 

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HOW TO BUY AND SELL A VEHICLE ONLINE WITHOUT GETTING TAKEN FOR A FINANCIAL RIDE

Fraud and scams… they’ve been around for as long as anyone can remember. And, the reality about these scams and frauds is that they’re not going to go away anytime soon. The Internet has allowed the fraudsters to find victims near and far, which means you need to be vigilant and protect yourself.

Arm Yourself With Knowledge

You’ve probably heard the old saying, “if it sounds too good to be true, it most likely is”. And, what was true in the past is even more so today. Of course, this isn’t your only weapon at your disposal to keep from being cheated. Bear in mind that today’s scams and schemes can be found in all forms.

Internet fraud is often disguised as legitimate-looking emails, which means most folks won’t question it. There are many goals of these email scammers:

- Get recipient to send them money
- Get social security number
- Get credit card number
- Get bank account number

By knowing Internet scams occur, whatever their size or shape, the most important thing you can do is keep yourself out of trouble.

Protecting Yourself and Others From Online Scams

If you’re suspicious of any email that looks like it comes from a reputable source, it’s always best to question it. It’s the whole “better safe than sorry” stigma. And, if you have fallen victim to an online scam, you need to talk with the proper authorities to report it.

How To Buy and Sell A Vehicle Safely

Most online vehicle transactions are completely legitimate but that doesn’t mean you should trust everyone you meet. It’s in your best interest to wade through the entire process with caution, whether you’re buying or selling a vehicle… especially since you’re likely to be buying sight unseen and over the Internet.

7 Important Tips For Internet Vehicle Buyers

1 – Research the different escrow companies you can do your transaction through and use one that’s highly reputable.
2 – Be suspicious of vehicles that are marked far below the value in the Kelley Blue Book.
3 – Do not release any personal and/or financial information that does not to the sale.
4 – Be wary of vehicle transactions coming from a foreign country.
5 – Obtain a CARFAX history report on the vehicle you’re looking to purchase.
6 – Be sure to get the seller’s name, phone number and address.
7 – Have your own mechanic take a look at the vehicle.

5 Important Tips For Internet Vehicle Sellers

1 – Research the different escrow companies available to find a reputable service to do your transaction through.
2 – Be overly cautious of overseas transactions.
3 – Be mindful of the common scam where phony buyers send out bogus cashier’s checks that’s made out for much more than the vehicle’s advertised price and requests you send a cash refund.
4 – Only give out information needed for the transaction…nothing more!
5 – Verify the buyer’s name, phone number and address.’

Three Popular Internet Crime Resources

The organizations listed below can offer you additional information on scams and fraud, how to avoid fraud and how to report possible cases of fraud. You can also find this information from your local or state authorities.

- Better Business Bureau (BBB)
- Federal Trade Commission (FTC)
- Internet Crime Complaint Center (IC3)

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