Monday, March 23, 2009

Avoiding Scams When Dealing With Car Sellers And Buyers

If you are looking to buy a car online, it is important to make sure you avoid scams. While the internet, specifically online classifieds, are a great place to find cars for sale, there are people who try to take advantage of unsuspecting buyers, here’s how to make sure you do not get taken.
• Be wary of a very low price or a deal that’s “too good to be true.” Great deals can be had but an unusually low price can mean trouble.
• Be cautious if the seller claims to be from another country or is selling a car from another location. This is a common explanation for a very low price and can be a scam.
• Watch out for sellers who will not communicate over the phone or do not want to meet in person before the sale. This is a definite red flag that everything is not what it seems.
• Request for financial or personal information before you have seen the car and decided to buy it are another warning sign of a scam.
• Never pay with a wire transfer, especially if you are buying a vehicle unseen. If you are buying a vehicle over a long distance use a reputable escrow company.
If you are selling a car you must also be on the look out for potential scams. Scammers posing as buyers often try to take advantage of unwary sellers. Here are some tips to make sure you are not taken advantage of if you are selling a car online:
• Be careful if a buyer requests that you pay for an inspection from an unrecognizable company before the sale. Scammers request payment for an inspection and then take the money and run. Always arrange a car inspection yourself and with a reputable company.

• If a buyer claims to be from out of the country be very cautious because this is one of the most common set ups for a scam.

• Never accept extra funds from a buyer. If a buyer Sends Extra Funds, even claiming to have done so on accident, send the entire payment back and do not do business with them. They will request you cash the check and send them the difference, meanwhile the check will bounce and you will be out both amounts.

There are plenty of online classifieds such as InetGiant where you can buy and sell cars online.

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