How the scam works:
You want to sell your car and post an ad online. Soon afterwards, a representative from a financing company calls you saying that they have a few prospective customers for your car.
The representative justifies that their company is financing customers who can’t qualify anywhere else as long as the clients buy the cars from their listings and at the asking price. This makes you happy because you know you can sell your car through this company in the next few days – and for the full asking price!
The only thing the rep says you need to do now is pay $500 up front for advanced advertising. The car’s price will be $500 higher on their listing, so you’ll get your money back. Everybody will be happy this way. The buyer has a new car, the financing company got a deal, and you sold your car for the initial asking price which is guaranteed.
Well, it’s not gonna happen. You’ll never see your money back, as the car will never sell through their website, due to unforseen situations – it’s a common scam.
Watch the video below to see a different variation of the Sell Your Car scam, exposed:
How to avoid Sell Your Car Here scam:
Don’t do it, unless the deal works the other way and they pay you and initial deposit of $500!
How to report the Sell Your Car Here scam:
Make your family and friends aware of this scam 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 periodical emails and we promise not to spam. Last but not least, use the Comments section below to expose other scammers.
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