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How to avoid online car buying scams Advertiser Disclosure Advertiser Disclosure We are an independent, advertising-supported comparison service. Our mission is to help you make better financial choices by offering you interactive financial calculators and tools that provide objective and original content. This allows you to conduct research and compare information at no cost and help you make informed financial decisions. Bankrate has agreements with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. How We Make money The products that are advertised on this site come from companies that pay us. This compensation can affect the way and where products appear on this website, for example, for example, the sequence in which they be listed within the categories of listing, except where prohibited by law for our mortgage or home equity products, as well as other home lending products. However, this compensation will not influence the information we publish, or the reviews appear on this website. We do not include the entire universe of businesses or financial offerings that could be open to you.



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5 min read published on October 13, 2022.
Written by Rebecca Betterton Written by Auto Loans Reporter

Rebecca Betterton is the auto loans reporter for Bankrate. She is a specialist in helping readers in navigating the details of borrowing money to purchase an automobile.







Editor: Rhys Subitch Edited by Auto loans editor

Rhys has been writing and editing for Bankrate since late 2021. They are enthusiastic about helping readers gain the confidence to control their finances by providing concise, well-studied and well-researched content that breaks down otherwise complex subjects into digestible pieces.









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Making a purchase from the convenience of your home by just a few clicks is a great option however, it comes with some risks. As with most of the internet frauds have made their way into the online world. Be aware of common cons so you don't lose money when you purchase an automobile. The most common online scams for buying cars The FTC (Federal Trade Commission) offers guidelines for online car sales, but there are a few commonly-spread scams to be on the lookout for when . Identity theft Some scammers aren't just looking to scam the victim out of their money but also looking to collect your personal data. They'll ask for details such as you Social Security number, birthdate or banking number. Don't share your personal information with prospective sellers, other than your name and telephone number. If you do apply for a position the position, make sure it's licensed, legitimate and has positive reviews. Otherwise, it may be preferential to make an application outside of the dealershipor go to a location where to verify you are legitimate. False advertisements When searching for private sales there are advertisements that don't include the VIN, or vehicle identification number. If you are not able to verify the authenticity of the vehicle is actually present -- that is, see it in person and verify you are sure that the VIN is accurate -- don't send money. It's not unusual for fraudsters to advertise vehicles in advertisements without actually having it. Even if the car exists, confirm that it's not listed as stolen and that it has a clean vehicle history report. Curbstoning This scam is when a dealer pretends to be private sellers with the intent to sell an unconformity-related vehicle with normal dealer rules that is, it may have an unsalvaged title or is damaged. A salvaged title will create major problems when it concerns insuring the vehicle. It is possible to avoid this fraud by staying away from vehicles sold online from vacant lots in the middle of the road or even at the home of the seller. Like every private auction, ensure you verify whether the seller and VIN are genuine prior to signing a contract. If you are buying a car sight-unseen, never agree to buy a car without having seen it. It's not just best to take your potential car for a test drive purchase it sight unseen, but it can mean the car might not look like the pictures or even exists at all. If the seller is quick to sell you the car or entices you to make a quick deal before you have a chance to inspect the vehicle in person, it is likely a scam. Ask for wire transfers or gift cards If the prospective seller asks for an electronic transfer to make the car payment, do not accept it. This is a common method used by scammers to steal your money and offer no guarantee of a vehicle. Wired money isn't trackable and very difficult to recover. It means that you could be left without a car , and there is no possibility of reimbursement. Similar to scammers wanting payment through wire transfer, some sellers will request gifts cards in exchange for payment. Again, walk away. Gift cards cannot be traced and mean the seller may be trying to scam you. Title washing washing is an attempt to cover up damage caused by a wreck, or other problems in the car's history. Even if you have to pay for it yourself make sure you get a car history report on the VIN. It's not sure if it will show you everything the car has gone through but it can assist you in avoiding falling victim to scammers seeking to sell a risky vehicle. Fake escrow accounts While this scam can go both ways, you should be aware of the possibility of using an escrow account that is fake when buying a car online. Escrow accounts are an authentic method of keeping both parties secure from scams. But, scammers could use a fake escrow account to convince you to deposit funds directly into the seller's bank account. When it's time to pick up the vehicle and to transfer the title the seller isn't available to be contacted -- and you are stuck with no option to retrieve your money. Are online car purchases a good idea? If you use an authorized service, buying a car online is exactly as secure as buying from an auto dealership. Even if you use a private seller, don't let the chance of scams happening discourage you. If you are a savvy buyer You'll more likely not be fooled and will be more likely to leave happy with your vehicle purchase. Benefits of online car buying If you know what are the most common scams and go through a legitimate source, buying a car online can have its advantages. Primarily, it saves time. You don't need to visit multiple dealerships and deal with physically searching inventory on numerous occasions. Online shopping gives you unlimited options for shopping. Because you don't have to limit yourself to what you can find at a dealership, you may be able to find a more exact suitable match to your needs. There's no sales pressure since, in the end, you'll be browsing through websites via your smartphone or laptop without having to deal with professional salespeople. If you decide to purchase something like Carvana or Vroom, you'll have access to nationwide delivery. There could be a modest cost, but if you get the right car it could be worth the cost. Drawbacks of online car buying In addition to fraud, there are a couple of reasons why people prefer traditional dealers: Big online dealers mean no negotiations. You will be able to negotiate with a private seller but you'll run the risk of being victimized by a scam. Some lenders will not provide financing for private sales when you are looking online. Should they, then you may be surprised to find the costs are higher than an used or new car loan. It is possible that you won't be able perform an inspection in person until you meet with the seller or get the vehicle delivered. It could be even harder for a mechanic to check the car when you buy it on the internet. What do you do if been scammed If you suspect you've been a victim of an online scam, there are a few steps you should do. File a complaint directly with the center for fraud. Call your local attorney general. File with the FBI's . Report the fraud to the . It may be difficult or impossible to receive your refund if you transferred it through a wire transfer or transferred gift cards. However, keep track of the transactions you made with your bank if you entered any information on a fake website. If you see any transactions, inform your bank to report the fraud and reset any usernames or passwords connected to the account. The bottom line If the price of a car seems too good to be true the likelihood is that it is. Buying a car online can be a safe method to purchase a second-hand car. But , be aware of common scams and trust your instincts. If something seems off there's a good chance it's. At the end of the day, there's a lot of used vehicles on the market. You can always opt to walk away from a deal and look for a more trustworthy seller through reliable websites or just opt for an used car dealer. Find out more


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Writen by Auto Loans Reporter

Rebecca Betterton is the auto loans reporter for Bankrate. She has a specialization in helping readers with the ins and outs of securely taking out loans to purchase an automobile.



Edited by Rhys Subitch Edited by Auto loans editor

Rhys has been editing and writing for Bankrate from late 2021. They are enthusiastic about helping readers gain the confidence to control their finances by providing concise, well-researched, and clear facts that break down complicated topics into bite-sized pieces.






Auto loans editor




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