|CAR BUYERS BEWARE:
Scammers advertise very rare or
expensive classic cars for sale on a web site with a price that seems to good to be true.
1. Come from overseas.
2. Have an asking price that seems to good to be true.
3. Request a deposit be sent immediately.
4. Express a sense of urgency in making the transaction.
5. The use of free web-based email accounts, especially Yahoo, MSN,
The SCAMMER advertises a really nice car, usually for a really cheap price, but not necessarily When you contact the
Seller, they insist that you place a "Deposit" with them to hold the car for you, and that the deposit is refundable if you don't like the car when you
inspect it. They usually request a western union money transfer (for the "Deposit"), to a location outside the USA.
If you see any of the above symptoms in a transaction you are about to make, BEWARE, because it's probably a scam!
CAR SELLERS BEWARE:
Scammers offer to pay you by arranging to send you a check and asking you to wire some of the money back.
1. Want to pay with a "cashier's check" or money order that is written for more than the car(s) they "want
2. Asks few (or no) questions about the vehicle of interest.
3. Buyer is usually from
4. A sense of urgency is conveyed in making the transaction as soon as possible.
Arrangements for delivery somewhere other than the inquirer's location - to "client" etc.
The SCAMMER offers to send a cashier's check for the full asking price of one or more vehicles, plus an additional
amount intended as a loan payment, or shipping fee, etc. The person responding to the ad later asks to have any excess funds, refunded to him or a third party.
The original cashier's check turns out to be non-negotiable or bogus.
Most financial institutions require at least 10-15 business days before even a cashier's check will fully clear, so if
in doubt..... wait it out. If it's a real buyer, they will understand.
Read the CBS News Report on this story
BUYING FROM A CLASSIC CAR DEALERSHIP, AN AUCTION WEB SITE OR INDIVIDUAL:
Keep in mind that there are
people (Dealers and private sellers) who will intentionally misrepresent the condition of a car, or attempt to pass a clone off as an original, just to
get a sale. My suggestions:
1. Always inspect a car before putting a deposit on it (and know how to identify: a clone from an original, engine size, etc.).
2. Always get
a bill of sale or receipt.
3. Ask to see the title: To make sure they actually have the title and they know where it is, and to verify the VIN numbers
match the model, specifications, options, etc. as expected.
I STRONGLY discourage anyone giving me a deposit on any of my cars, unless they have personally stopped by my car lot
and closely inspected the car they are interested in.