4 New Car Buying Scams You Need To Avoid
Online Car Buying Scams Everyone Should Be Aware Of
As online commerce is evolving from day to day, people are starting to buy cars online. Unfortunately, scammers are getting into the game as well, to take advantage of the customers. There have been several incidents where consumers are falling on scammers’ radar and losing thousands of dollars.
The experienced buyers are smart enough to differentiate genuine and fake websites, while newcomers are the primary victim. So how do you avoid online car buying scams? Follow our lead through the article to know ways to detect online scams.
1. Non-reputed Websites
Shopping cars online is useful, but you need to be smart, not to get catfished. If you are going online, check the website’s reputation first, check the number of user reviews, and know their experience. Car shopping websites generally have their history on Archive, so go to the website and enter the URL of the website. Usually, scam websites have less information and records, whereas the official website records are satisfactory to trust.
Some of the websites’ payment gateway could not be secured than expected; it might victimize you into a financial scam. Thus be cautious to select a website while shopping for cars online.
2. False Car Auctions
We have seen mainstream online car business companies often putting cars on auction. Being popular does not mean these websites will not deceit their buyers. It’s reported that online shopping auctions are the major inconstant to scam consumers.
3. Sellers Asking for Money Before Meeting
Sellers always try to make a statement of online buying and selling being stress-free. It is somehow true, but sellers asking for wire transfer beforehand buying cars online is not good. Many people tend to ship over money with the expectation to get their dream car. The one who asks for money upfront is not one who you should consider trading. It’s better to meet in person and hand over cash after you get a vehicle.
4. Don’t Believe The Photos
To victimize potential buyers, suspicious websites often upload an image that looks too good to be accurate at a decent price range. That is, do not believe in every picture of cars you see online. There can be various alterations done to the vehicle to look good. Odometer fraud, clocking fraud, vehicles involved in title washing, VIN alteration are standard practices scammers use to sell cars at a high price.
You can do quick revs check onto the vehicle online and avoid falling for their service. This process assists you a lot and is unquestionably worthy if you do not want to face the predicaments due to faulty history and legal clearance. You can enter the VIN and easily check the detailed history of the vehicle.
Protect yourself from:
- Must pay now scams
- Middle-man scams
- Money transfer protection scams
- Vehicles gift card scams
- Deposit frauds
- Escrow account frauds
- Vehicle cloning scams
With the following tips, you should now be able to differentiate between online car scammers from a far distance. Experts believe the online car buying and selling a business could expand to a greater extent shortly, which directly leads to an increase in frauds and scammers. It’s good to be cautious beforehand of being sorry.
Buying Cars Online: How To Report a Scammer
Warn your family and friends about these car buying scams by sharing it on social media using the buttons provided. You can also officially report the scammers to the Federal Trade Commission using the link below:
How To Protect Yourself More
If you want to be the first to find out the most notorious scams every week, feel free to subscribe to the Scam Detector newsletter here. You’ll receive periodic emails – we promise not to spam. Meanwhile, educate yourself with some other car-related articles right under this paragraph, so that you can protect yourself in many other aspects and niches. Last but not least, use the Comments section below to expose other scammers.
Here are some must-reads for the end:
TOP 5 MUST-WATCH FRAUD PREVENTION VIDEOS
Educate yourself with the videos below:
1. Top 5 Facebook Scams in 2020
2. Top 5 Amazon Scams in 2020
3. Top 5 PayPal Scams in 2020
4. The Nigerian Scam [Docu-Drama]
This movie shows how a victim lost over $30,000 to an intricate scheme which is still around years later.