Rip-off artists and burglars are like the mythological Hydra; for every one that's sent to prison, another springs up in its place. Unfortunately, that's only a fantasy and we cannot go around lopping people's heads off for ripping somebody else off. Regardless of action taken, a bevy of used car cons are working at any second online, so customers need to be careful while car shopping on the web.
Increasing amount of used car frauds
There are not a whole lot of crooks normally, except in Washington D.C. and Wall Street where there are a lot more crooks than not. No matter what the business is, there will always be crooks trying to scam everyone who is susceptible.
One common scam is used car frauds, according to USA Today, especially online car scams. The internet is the most common place where these swindles are turning up, as a prodigious number of Craigslist car frauds and eBay car cons have been reported. The Internet Crime Complaint Center, part of the Department of Justice, reported 4,066 instances of a used car scam on the web in 2011, and victims lost an estimated $8.3 million. There were 14,000 similar grievances to the ICCC between 2008 and 2010, according to the Chicago Tribune.
By the end of July of this year, there were already 1,685 complaints to the ICCC. Victims lost $4.9 million in those instances.
Problems with internet
Sometimes, used car dealers will use shady tricks such as the "the auto approval fell through" scam or attempting to sell you a vehicle that is entirely wrecked. Most car dealers in Everett, WA to Florida are honest though, so you do not have to be too worried. Online frauds are not likely that though.
It is much easier to scam online. The shady person puts a vehicle up for sale, asks for the money to be sent upfront, and then the car never shows up.
Watch out
Generally, the scam will post a bad story about why they are selling the car, including divorce much of the time, according to USA Today. Then, the buyer will be emotionally manipulated into purchasing the car. Rushing a transaction is typically a scam of some sort.
There are a ton of late-model luxury car models used in frauds 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 sometimes prices are cheaper than normal but not abnormally low for scam artists too, according to USA Today.
If you are not able to get a test drive or meet the buyer, it is a scam. Keep away from emails saying you won a vehicle for free. It is never good when someone asks you wire the money to them or to put it on a prepaid debit card.
Increasing amount of used car frauds
There are not a whole lot of crooks normally, except in Washington D.C. and Wall Street where there are a lot more crooks than not. No matter what the business is, there will always be crooks trying to scam everyone who is susceptible.
One common scam is used car frauds, according to USA Today, especially online car scams. The internet is the most common place where these swindles are turning up, as a prodigious number of Craigslist car frauds and eBay car cons have been reported. The Internet Crime Complaint Center, part of the Department of Justice, reported 4,066 instances of a used car scam on the web in 2011, and victims lost an estimated $8.3 million. There were 14,000 similar grievances to the ICCC between 2008 and 2010, according to the Chicago Tribune.
By the end of July of this year, there were already 1,685 complaints to the ICCC. Victims lost $4.9 million in those instances.
Problems with internet
Sometimes, used car dealers will use shady tricks such as the "the auto approval fell through" scam or attempting to sell you a vehicle that is entirely wrecked. Most car dealers in Everett, WA to Florida are honest though, so you do not have to be too worried. Online frauds are not likely that though.
It is much easier to scam online. The shady person puts a vehicle up for sale, asks for the money to be sent upfront, and then the car never shows up.
Watch out
Generally, the scam will post a bad story about why they are selling the car, including divorce much of the time, according to USA Today. Then, the buyer will be emotionally manipulated into purchasing the car. Rushing a transaction is typically a scam of some sort.
There are a ton of late-model luxury car models used in frauds 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 sometimes prices are cheaper than normal but not abnormally low for scam artists too, according to USA Today.
If you are not able to get a test drive or meet the buyer, it is a scam. Keep away from emails saying you won a vehicle for free. It is never good when someone asks you wire the money to them or to put it on a prepaid debit card.
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