Being that a vehicle purchase is one of the second most expensive purchases that many Americans make. In order to avoid auto scams when purchasing a vehicle, here are tips on how to spot one.
According to an article at autos.yahoo.com, “Common Auto Scams”
“While it may seem like a no-brainer, never purchase a car or send money for a vehicle without seeing it first. “You’d be surprised at how many people do that,” he says.
The Cars.com fraud team put together this list of the most common scams in auto sales.
Keep in mind the schemes and tactics that follow are not mutually exclusive — some scammers take pages from numerous playbooks.
Scams involving checks (i.e. personal, cashier’s, third-party checks, money order) take many forms. In a typical example, a thief posing as a car buyer “accidentally” sends a check made out for an amount higher than the selling price of the vehicle and requests that the seller deposit the check and return the difference via a wiring service (Money Gram, Western Union, etc.). After the seller has wired the money, he or she learns the buyer’s check is worthless, and the thief disappears with the seller’s money.” To read the entire article click here.