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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 decisions by providing you with interactive financial calculators and tools that provide objective and original content. We also allow you to conduct your own research and compare information for free - so that you can 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 compensate us. This compensation can affect the way and where products appear on the site, such as, for example, the sequence in which they appear within the listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. This compensation, however, does affect the information we provide, or the reviews you see on this site. We do not cover the vast array of companies or financial offerings that could be available to you.



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5 minutes read. Published October 13, 2022
Writen by Rebecca Betterton Written by Auto Loans Reporter

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







Edited by Rhys Subitch Edited by Auto loans editor

Rhys has been editing and writing for Bankrate since the end of 2021. They are passionate about helping readers gain confidence to take control of their finances through providing precise, well-studied information that dissects complex subjects into digestible pieces.









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Buying a car online from the at-home comforts of your sofa by just a few clicks can be a good thing but also comes with some risk. Like the majority of the internet there are scams that have slipped into the space. Be aware of common cons to avoid losing money in the process of getting the latest car. Most common scams when buying a car online There are a few scams that the FTC (Federal Trade Commission) provides guidelines for online vehicle sales. However, there are some common scams to look out for when . Identity theft Scammers are not only looking to scam you out of money , but they also want for your personal details. They'll ask for details such as the details of your Social Security number, birthdate or bank account numbers. Never share any personal information with potential buyers, excluding your name and number. If you are applying for a job , ensure that it is licensed, legitimate and has a good reputation. Otherwise, it may be more beneficial to apply outside of the dealershipor visit a place where you can verify that the seller is above board. False advertisements When searching for a private sale, you may see ads that do not include the VIN, or the number that identifies the vehicle. If you're not able to confirm that the vehicle is actually present -- that is, you can see it personally and be sure you are sure that the VIN is correct -- don't send money. It's not unusual for fraudsters to advertise vehicles in ads but not have the vehicle. And even if the vehicle exists, make sure it is not classified as stolen and it has a clean history report. The Curbstoning scam occurs when a dealer pretends to be private sellers with the intention of selling the vehicle in violation with normal dealer rules that is, it may have an unsalvaged title or is damaged. A salvaged title could be a major problem when it concerns insuring the vehicle. You can avoid this fraud by staying away from vehicles sold online from vacant lots, on the side of the road or even at the home of the seller. As with all private sales, ensure you confirm whether the seller and VIN are legitimate prior to signing a contract. Buy sight unseen. Never sign a contract to buy a car without having seen it. It is not only advisable to take the car you are considering for a test drive and purchasing it without seeing it could mean that the car may not be as pictured or worse -- not exists at all. If the seller is quick to sell you the car or entices you to make a speedy purchase before you inspect the vehicle in person, it's probably a fraud. Request for wire transfer or credit card gift cards If the prospective seller demands an electronic transfer to make the car payment, do not accept it. This is a typical technique used by scammers to take your money with no guarantee of a vehicle. Wired money isn't trackable and extremely difficult to trace. This means you may end up with no car , and there is no possibility of reimbursement. Similar to scammers that want to make payments through wire transfer, some sellers may ask for gift cards for the payment. Again, walk away. Gift cards are not traceable and means that the seller may be trying to fraud you. Title washing washing is a method to hide damage from a wreck, or other problems with the car's history. Even if you have to pay for it yourself Always get a vehicle history report on the VIN. It's not guaranteed to provide you with all the details the car has experienced, but it can assist you in avoiding falling victim to a scammer seeking to sell a risky car. Fake escrow account Although this scam can take place in two ways, you should be aware of the possibility of using fraudulent escrow accounts when you purchase a vehicle online. Escrow accounts are legitimate method to keep both parties secure from scams. However, fraudsters may make use of fraudulent escrow accounts to convince you to deposit money directly into the account of the seller. When the time comes to collect the car and to transfer the title the seller isn't accessible to contact -- and you are left with no way to recover your money. Are online car purchases an excellent idea? If you go through an authorized service, buying a car online can be just as safe as a dealership. Even if you go with a private seller, do not allow the possibility of a scam happening deter you from buying. By being an informed consumer you'll have a lower chance of get scammed and more likely to drive away happy with your vehicle purchase. Benefits of buying a car online If you know what frauds to avoid and look up a reliable source, purchasing a car online has its benefits. It is primarily about saving time. You don't need to go to numerous dealerships and spend time physically browsing inventory on numerous occasions. Online shopping gives you unlimited possibilities for shopping. Since you aren't limited to what you can find at a dealership and you can be sure to find a more exact fit for your requirements. There's no pressure to sell -- after all, you'll likely be browsing through websites via your smartphone or laptop without having to deal with professional salespeople. If you opt for something like Carvana or Vroom You'll have access to delivery across the country. There may be a small charge, but if find the right car, it may be worth it. Drawbacks of online car buying Apart from the scams, there are a few reasons people still choose traditional dealers. Big online sites don't mean that there is no negotiations. It is possible to negotiate with a private seller but you'll be at risk of being involved in fraud. Some lenders will not provide financing for a private sale while you're looking on the internet. In the event that they offer it, you might discover that the interest rates are higher than a new or used vehicle loan. You may not be able perform an inspection in person until you talk to the seller or have the car 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 think that you've fallen victim to an online scam There are some steps you should take. You can file a complaint directly with the center for fraud. Get in touch with your attorney general of the state. File with the FBI's . Inform the FBI of the . It may become difficult, or even impossible, to receive your refund if you transferred it through a wire transfer or exchanged gift cards. Be aware of the transactions you made with your bank if you entered any information on an illegitimate website. If you see any activities, notify your bank to report the fraud and reset any usernames and passwords connected to the account. The bottom line: If the price of a car seems too appealing to be true, it probably is. The purchase of a car online could be a perfectly safe way to get a used vehicle. But you need to keep an eye on common scams and trust your gut. If something appears to be off, it probably is. In all times, there's a lot of used cars available on the market. You are able to leave a deal and locate a different, authentic seller via 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 specializes in assisting readers with the ins and outs of securely taking out loans to purchase the car they want.



Editor: Rhys Subitch Edited by Auto loans editor

Rhys has been editing and writing for Bankrate since late 2021. They are enthusiastic about helping readers gain the confidence to manage their finances by providing concise, well-researched, and clear data that cuts complex topics into manageable bites.






Auto loans editor




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