Car Buyers alerted against selling fraud
Photo by: Dave_7
Car buyers in Ireland are being alerted against an online auction fraud out to get their money. A news report has revealed three victims of a scam who lost their initial deposits after responding to online ads offering to sell used cars. The report also exposed the modus operandi of the scam.
Fraudsters pick on a car being offered online for sale and post their own ad for the car at other auction sites by copying details from the original ad. Importantly, they disclose in the new ads that they are now prepared to sell off the same car at heavily discounted prices.
Understandably, these ads attract buyers eager to get the car at such a good bargain. When they contact the fraudsters, they are asked to send a deposit of €2000-3000 as earnest money.
The scam is revealed when weeks pass and there is no sign of either the car or the seller.
The website motorcheck.ie reported at least three people to have burnt their fingers in this scam. It wants car buyers to keep this scam at the back of their mind while checking out online deals.
It also has few words of advice for them:
- Go only with deals that present the opportunity of physically checking out the vehicle.
- Verify that all its papers are in order.
- Ensure that it is not loaded with hidden financial encumbrances.
- Arrange with sellers to make the payment by credit card. Be alerted if they insist on receiving the payment through hard-to-track wire transfer services.
- Lastly, never give out personal financial details until you are sure that the offer is genuine.
Following these steps would lower a customer’s risk of buying a vehicle laden with problems.
Source: Ireland.com
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