- Buying & Selling New & Used Cars
New Car Scams
Scam sites are always doing the same pattern when they are trying to trick a person. So its easy to spot them instantly.
I am writing this hub to help inform people about the tricks of scam. And preventive measures on how to counter them.
Scam Magic Trick Exposed
You Start to Advertise Your Car - You own an old unconditioned car with high mileage. Scam artists are more likely to look for sellers who are who desperate to sell their car knowing that no one might be very interested on it. Someone then contacts you saying he is interested on purchasing the car(even though he didn't see the car) he states that he is from another continent such as Africa. He tells you that he has an agent who is residing on the US(some use a very poor accent and grammar) and explains that you can have the check right away.
Preventive Measure 101: Try to think of it, is someone still interested on that kind of car?. Be real man, why would someone buy an old unconditioned car and try to export it to another continent, hahaha!
Preventive Measure 102: Explaining by a poor grammar, how can he be a corporate rich guy with agents in the United States if he cannot groom his grammar nor his accent. If he is legit then he is very professional when it comes to business proposals. "He tells you that he has an agent who is residing on the US(some use a very poor accent and grammar) and explains that you can have the check or a US certified check or bank check right away."
You received the check (they most likely give the check right away to cover expenses such as transport, etch that is their trick), but there is an excess amount. You try to ask why is it in excess, but scam artists have reasons such as mistake or any unlimited reasons. But actually they issue excess money so that it would be a bigger amount when they try to ask the money back, ill explain it later on. You deposit your check,it will take like 10 business days to clear the check. In that period, you don't know if the check is fake or not, the so called "buyer" knows this and he will use all of his wit to do the bidding within this period.
Preventive Measure 103: Why would they give the check right away, if you are a corporate guy, you need to be sure on all the facts before trusting on buying someone else' stuff.
Preventive Measure 104: The amount is in excess, that is ok if the check is real. The scam artist knows that it will take a couple of business days for the bank to clear the check. In that period of time they will use whatever trickery to squeeze real money out of you. Ok guys here is the counter trick, why don't you wait for the bank to clear the check before you do any further transactions? If it will take a hundred days before the bank to clear the check then wait for a hundred days. This will determine if the check they've sent is real. If they try to complain then let them complain, stand ground and be sure before going any further, at least you already have your ace.
The "buyer" contacts you implying that he needs the excess money back. It will You then withdraw your own money from the bank. You cannot use the money from the buyer as you will still wait for few days before it is cleared.
The buyer calls again then decides not to purchase the car. He asks for the refund. As a man of your word, you then withdraw all of your personal money then sends it to his so called agent.
The bank calls you a few days later then informs that the check is counterfeit. Case closed bye bye money.
Preventive Measure 105: The scam artist asks for the money, ok that is fair, but why did you use your own money to replace his. Use his money to return his money that is the bottom line.Here is the trick, if he is a scam artist then be ahead of him, be wiser. Explain to him such as "I don't have the money that is why I'm selling the car wait for the bank to clear the check that I've deposited then ill send it back to you". If he complains then let him, don't think that they will suspect you as a scam for not giving their money back instantly, be wise or fall prey to unsuspecting fraud predators. Please remember that you are not doing anything wrong keep in mind that you are just playing safe, give back what he owns, don't use your resources to cover his.
Scam may vary but the process is still the same.
Be wise, don't be hasty and greedy when it comes to money. Most victims are always longing for a substantial amount of money rather than be satisfied with what they posses. "Haste makes waste" this is true and if you don't think ahead of possibilities of your actions then you are prey to these predators. Greed and Haste is an opportunity for scam artists.
"For the most part fraud in the end secures for its companions repentance and shame" a quote from Charles Simmons. It means that if you are living on taking advantage of others it will come to a point that you will regret what you have done. Ok, let us put the car salespersons out of this, they are just doing their job. I am referring to people who are good at doing fraud car transactions. They may be inexperienced on selling cars or they may be experienced car salesperson who were fired because of how they deal illegally, or they may be an actual car salesperson who has a background on dealing cars, and leveled up to a point where he combines his knowledge on selling cars as well as doing some Fraud magic tricks.
The purpose of this hub is to smell suspicious car dealers. This will help consumers to purchase cars wisely, determine the authentic salespersons, and giving them ideas for purchasing future online products other than cars. This hub will give you hints how to determine New Car Scams.
Car scams will always ask for a higher rate of payment.That is why they tr to trick you knto submitting to higher rates. Example of this are warnings like you don't qualify for the credit score or something like you don't qualify for the interest rate. If you are a compulsive buyer then you will probably resolve on paying a higher interest rate. There you go you are just another bate in a tank full of fraud sharks.
The best way to stay away from this scam, you must be guided with proper knowledge about your credit. One thing I will consider before doing business using credit cards is by checking the lists of business credit below:
- Dun and Bradstreet (D&B)
- Equifax Small Business Enterprise
- Experian SmartBusinessReportsTM
- 4. FDInsight™
- 5. Credit.net
Ask for your credit report and of course you have to pay for your nominal fee.
Trusted Links For Car Loans Car Buy and Sell
- Mazanda Auto Loan | Car Loans | Auto Sales | Used and New Automobile Loans
Mazanda.com is a price comparison service site that provides car loans and auto loan calculators to help with your buying decision.
- Price Comparison Services
A price Comparison Services Website That offers price quotes of different services.