There are a bevy of rip-off artists operating everywhere, in every country and in every state, at every moment. Naturally, this reaches the buying and selling of vehicles, so customers should invariably be vigilant of used car cons.
Increasing amount of used car scams
There will always be crooks around attempting to scam you no matter what the particular business. There are a lot of crooks in Wall Street and Washington D.C.; however, there are typically not that many around.
Part of the Department of Justice is the Internet Crime Complaint Center. It noted that $8.3 million was lost in 2011 to 4,066 instances of used car scams on the internet. According to the Chicago Tribune, there were 14,000 similar instances complained of between 2008 and 2010 to the ICCC. USA Today points out that online car scams have been on the rise with the internet making it so easy. It is very common to see these frauds on Craigslist and eBay.
This year, the ICCC registered 1,685 grievances of used car frauds by the end of July, costing victims an estimated $4.9 million.
Where there is internet there is spam
Online car cons are very different from in person. In percent, car dealers in Everett, WA and all the way to Florida are fairly honest, though you will occasionally find ones that make an effort to sell you a wrecked car or use the "the auto approval fell through" scam.
It is much easier to scam online. The shady person puts a car up for sale, asks for the money to be sent upfront, and then the car never shows up.
Scam things to look for
Typically, the scam will post a bad story about why they are selling the car, such as divorce the majority of the time, according to USA Today. Then, the buyer will be emotionally manipulated into purchasing the car. Rushing a transaction is generally a scam of some sort.
There are a lot of late-model luxury car models used in scams right now, according to Daily Finance, and anything that is too good to be true is a scam, according to Bankrate.com. Keep in mind that occasionally costs are cheaper than normal but not abnormally low for scam artists too, according to USA Today.
Sometimes people will ask you to put the payment on a prepaid debit card or ask you to wire it with Western Union. These are both cons. Always avoid emails promising that you won a free car, and it is always a scam if you are never able to meet the seller or test-drive the car.
Increasing amount of used car scams
There will always be crooks around attempting to scam you no matter what the particular business. There are a lot of crooks in Wall Street and Washington D.C.; however, there are typically not that many around.
Part of the Department of Justice is the Internet Crime Complaint Center. It noted that $8.3 million was lost in 2011 to 4,066 instances of used car scams on the internet. According to the Chicago Tribune, there were 14,000 similar instances complained of between 2008 and 2010 to the ICCC. USA Today points out that online car scams have been on the rise with the internet making it so easy. It is very common to see these frauds on Craigslist and eBay.
This year, the ICCC registered 1,685 grievances of used car frauds by the end of July, costing victims an estimated $4.9 million.
Where there is internet there is spam
Online car cons are very different from in person. In percent, car dealers in Everett, WA and all the way to Florida are fairly honest, though you will occasionally find ones that make an effort to sell you a wrecked car or use the "the auto approval fell through" scam.
It is much easier to scam online. The shady person puts a car up for sale, asks for the money to be sent upfront, and then the car never shows up.
Scam things to look for
Typically, the scam will post a bad story about why they are selling the car, such as divorce the majority of the time, according to USA Today. Then, the buyer will be emotionally manipulated into purchasing the car. Rushing a transaction is generally a scam of some sort.
There are a lot of late-model luxury car models used in scams right now, according to Daily Finance, and anything that is too good to be true is a scam, according to Bankrate.com. Keep in mind that occasionally costs are cheaper than normal but not abnormally low for scam artists too, according to USA Today.
Sometimes people will ask you to put the payment on a prepaid debit card or ask you to wire it with Western Union. These are both cons. Always avoid emails promising that you won a free car, and it is always a scam if you are never able to meet the seller or test-drive the car.
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