Preventing Fraud When Selling Classic Cars Online

Posted by Steve White on Jul 24, 2009

Those who are selling classic cars online should be aware that there are scammers on the internet who will pose as buyers to cheat people of their cars or money. Therefore, it is important to exercise extra caution when you are dealing with online buyers. Here are a few tell-tale signs that you may be dealing with a fraudulent buyer.

Buyer requests that you pay for an inspection: The buyer will ask for the car to be inspected, and then, he will recommend an inspection company of his own. When the inspection company receives payment from you, you will not hear from the company or the buyer again. It is usually the buyer’s responsibility to pay for an inspection.

Buyer can only be contacted via emails: Scammers will try not to give you their real phone numbers, and they will suggest that you contact them through email.

Buyer claims that he is in a foreign country: Many fraudulent buyers will tell you that they are in another country.

Buyer sends payment by cashier’s check: A cashier’s check can take up to a month to clear. By the time you realize that the check is no good, the buyer would have disappeared with your prized classic car.

Buyer is an agent or has an agent: This is one of the common tricks that are used by scammers. The buyer may send you more money than the actual price of your classic car by cashier’s check, and then, he will ask you to send the extra money to his agent, who is of course the scammer himself.

Buyer uses a phony escrow company: Make sure that the buyer sends payment through a legitimate escrow company.

Leave a Reply


required


required (will not be published)

Categories
Archives