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How to avoid online car buying scams Advertiser Disclosure Advertiser Disclosure We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by offering interactive tools and financial calculators, publishing original and objective content. This allows you to conduct research and compare information at no cost to help you make financial decisions with confidence. Bankrate has partnerships with issuers, including but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. How We Make Money The deals that are displayed on this website are provided by companies who pay us. This compensation can affect the way and where products appear on this site, including for instance, the sequence in which they be listed within the categories of listing, except where prohibited by law. This applies to our mortgage, home equity and other products for home loans. But this compensation does affect the content we publish or the reviews that you see on this site. We do not cover the universe of companies or financial offers that may be available to you.



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

Rebecca Betterton is the auto loans reporter for Bankrate. She has a specialization in helping readers to navigate the ins and outs of securely using loans to buy an automobile.







Edited by Rhys Subitch Edited by Auto loans editor

Rhys has been editing and writing for Bankrate since late 2021. They are dedicated to helping readers gain the confidence to control their finances through providing precise, well-studied information that breaks down otherwise complicated topics into bite-sized pieces.









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Buying a car online from the comfort of your living room by just a few clicks is a great option but also comes with some risks. As with most of the online world there are scams that have slipped into the online world. Beware of the common scams to ensure you don't make a loss in the process of getting a new vehicle. The most common online scams for buying cars There are a few scams that the FTC (Federal Trade Commission) provides guidelines for online vehicle sales. However, there are a few common scams to look out for when . Identity theft Some scammers aren't just looking to swindle you out of your money but also looking to gather your personal information. They will request information like you Social Security number, birthdate or bank account numbers. Don't share your personal information with prospective sellers, other than your name and phone number. If you do apply for a position , ensure that it is legal, legitimate, and has positive reviews. If not, it's preferential to make an application outside the dealershipor visit a place where you can verify you are honest and trustworthy. fake ads If you're looking for a private sale You may come across advertisements that don't list the VIN, or the number that identifies the vehicle. If you are not able to verify the authenticity of the vehicle exists -- as in you can see the vehicle in person, and be sure that the VIN is accurate Don't pay. It's not unusual for scammers to show vehicles in advertisements but not have it. And even if the vehicle exists, make sure it's not reported as stolen and it is clean on its history report. The scam of "curbstoning" occurs where a dealer claims to be a private seller in order to sell the vehicle in violation with the normal regulations of dealers -- meaning it has a salvaged title or has been damaged in any way. A salvaged title will be a major problem when it comes to insuring the vehicle. You can avoid this fraud by staying away from online auctions of vehicles that are located on vacant lot, on the side of the road or even at the seller's home. Like any private sale, make sure you confirm that the seller and VIN are authentic prior to signing a contract. Buy sight unseen. Never sign a contract to buy a car without seeing it. Not only is it best to take the car you are considering for a test drive , but buying sight unseen could mean that the car may not appear as the photos suggest or, even worse, may not exist in the first place. If the seller pressures you or asks you to make a speedy sale before you can see the car in person, it's probably a scam. Ask for wire transfers or gift cards If the prospective seller requests wire transfer in exchange for vehicle payment, walk away. This is a common method used by scammers to steal your money and offer no return vehicle. Wired money is not traceable and is very difficult to retrieve. This means you could be left with no car and no potential refund. Similar to scammers that want to make payments via wire transfer, some sellers may ask for gift cards to pay. Again, walk away. Gift cards are not traceable and indicate that the seller is probably trying to fraud you. Title washing washing is a method to hide damage from the wreck or other issues with the vehicle's history. If you do have to pay for it yourself Always get a vehicle history report for the VIN. It's not sure if it will show you everything the car has experienced, but it can assist you in avoiding falling victim to scammers looking to offload an unsafe car. Fake escrow account While this scam can go both ways, it is important to be conscious of the need for an escrow account that is fake when buying a car online. Utilizing an escrow account is a legitimate way to keep both parties secure from scams. However, fraudsters may make use of fraudulent escrow accounts to trick you into transferring money directly into the account of the seller. When it's time to take the vehicle and transfer the title the seller is no longer available to be contacted -- and you are stuck with no option to get your money back. Is online car buying an excellent idea? If you go through an authentic service, buying a car online is just as safe as an auto dealership. Even if you use a private seller, don't be a victim of a scam happening deter you. If you are a savvy buyer You'll be less likely to be scammed and more likely to drive away satisfied with the purchase of your car. Benefits of purchasing a car online If you know the types of frauds to avoid and you are able to find a legitimate source, purchasing a car online has its benefits. Primarily, it saves time. You don't have to go to numerous dealerships and spend time physically browsing through inventory on numerous occasions. Online shopping gives you unlimited options for shopping. As you're not limited to what you can find of a dealer it is possible to find a more precise match for your needs. No sales pressure because, at the end of the day, you'll be scrolling through websites on your phone or computer without having to deal with sales representatives from a professional. If you opt for something similar to Carvana or Vroom You'll have access to delivery across the country. There may be a small charge, but if locate the perfect car, it could be worth it. There are some disadvantages to buying cars online. Apart from the fraud, there are a few reasons people still choose traditional dealers: Big online dealers do not allow for negotiation. It is possible to bargain with a private seller but you'll be at risk of being caught in a scam. The lenders may not be able to offer financing for a private sale when you search online. In the event that they offer it, you might find that the rates are higher than those for an used or new vehicle loan. You might not be able perform an in-person inspection until you meet with the seller or arrange for the car to be delivered. It could be even more difficult to get a mechanic to inspect it when you are shopping on the internet. What should you do if you've been scammed If you think you have fallen victim to an online fraud, there are a few steps to take. You can file a complaint directly with the fraud center. Contact your state attorney general. Make a report to the FBI's . Inform the FBI of the . It could become difficult, or even impossible, to get your refund if you transferred it via wire transfer or handed over gift cards. Be aware of your bank activity if you entered any information on a fraudulent website. If you spot any suspicious transactions, inform your bank about the fraud and reset any usernames or passwords associated with the account. The bottom line If the price of a car seems too appealing to be true the likelihood is that it is. The purchase of a car online could be a very safe option to purchase a second-hand car. But you need to keep an eye out for frauds that are common and trust your gut. If you notice something that seems suspicious then it's probably. At the end of the day, there's a lot of used cars on the market. It is possible to leave a deal and locate a different, more legitimate seller on trustworthy websites, or go with a used car dealership. Learn 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 in navigating the details of borrowing money to purchase an automobile.



Editor: Rhys Subitch Edited by Auto loans editor

Rhys has been editing and writing for Bankrate since late 2021. They are dedicated to helping readers gain confidence to manage their finances by providing clear, well-researched facts that break down otherwise complicated topics into bite-sized pieces.






Auto loans editor




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