Selling and buying vehicles from owner to owner has never been easier thanks to many websites such as Ebay and Craigslist. There are huge triumphs when people take the gamble and sell their vehicle on these popular sites. Both parties expect and believe to make or save more money than if they were to go to a dealership. This is why the auto section in Craigslist is one of the most active places on the internet. However with so many people exchanging so many cars for so much cash, it was only a matter of time before criminals and con artists took notice.
One of the most common scams is that the buyer accidently pays more by money order or cashier’s check than was asked for and asks you to refund them the overage. These money orders often turn out to be counterfeits and any money sent them is lost forever.
Here are some other warning signs that should raise your red flag.
- Cars are priced far below current market value.
- The seller claims to be in the military and is stationed overseas.
- The posting does not include a phone number.
- The seller will demand that you use an online escrow service of their choice.
- The person receiving the call is referred to as a “pickup agent.”
- Payment must be wired to or from another country.Western Union is often requested.
- The buyer or seller is very anxious to conclude the transaction.
A vehicle purchase is big ticket item and shouldn’t be a game of luck and chance. We highly encourage people buying and selling their vehicles the old fashion way or getting a second opinion at a dealership. Most people find out they can get great incentives for their vehicles when they trade it in at a dealer. So stop by Planet Ford in Humble today to see how much your trade-in is worth and avoid any scams.