Top 3 Common Scams You Should Check Before Buying a Used Car
What Are The Most Common Tricks To Avoid Before Buying a Used Car?
If you are planning to buy any used car in the future, many people will scam you. Based on your less-experienced or information about the industry, you can face a considerable loss. However, there are some significant scams that you must need to know about. It will enable you to buy any car without getting any stress of fraud and spend your money entirely on the preferable vehicle.
Without any further ado, let’s start talking about them in the below sections.
1. Non-Disclosure of Finance Owed
Before proceeding to purchase the car from the owner, you should need to know about the outstanding loan information of the vehicle. Majority of the times seller doesn’t disclose the history of their cars to you. Without getting the proper history, you may bear the conditions of losing the vehicle.
General car finances tend to provide security to any organization as proof for the repayment of any loan. If the owner would not give that loan, the car will be taken by the authority as a sense of refund. What you need to do is discuss the matter with the car owner and look for a service provider who provides the proper information about the loan.
2. Check Odometer
The worth of any car depends upon the number of kilometers it travels since the time it purchased. You should also need to check the clock of a kilometer to verify it’s performance. The fewer it will be, the more you should need to keep your mind to purchase it. However, some sellers tend to reduce the displayed kilometers to do scams with the car owners. The practice is also well known as an odometer wind-back.
To identify this scam, you can check the car fitting with the desired odometer area. You can also realize this scam by checking the steering wheel and pedal rubber’s smoothness. If you find it hard, it’s and indication for you that the meter reduced by the seller. Moreover, you can also go for a car history service provider to check about the odometer reading of the car. Not only odometer history, but you can also check any car to write off and finance liability check.
Odometer wind-backs may cause you a tremendous amount of living loss. The issue needs to be looked at by every buyer of used-cars. It will also create problems for you when you are planning to sell the same car in the future, and the third owners would be smarter than you by checking its odometer.
3. Keep an Eye on Car-rebirthing
Those of you who are unaware of car-rebirthing, it’s fraudulent activity related to stolen vehicles. In such practices, the sellers hide the stolen vehicle information by removing their identity information. They also install spare parts of the stolen vehicle to keep the car well driven. Moreover, the interference also involves in the identification number of the car.
If you are unable to find these issues, you will face financial and country law issues. It means you may also consider as a criminal for having a fake identity car. Scammers use this approach – repair the vehicle at cheap rates and sell it to others to earn a profit.
Car Buying Scams: How To Report
Let your family and friends know about this article 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 Prevent 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. Last but not least, use the Comments section below to expose other scammers.