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Car Selling Tips >> Articles >> Vehicle Scam Protection


Vehicle Scam Protection

car selling tips

Here are a few hints as well as tips to help protect you:

  • Do not accept any payment which does not exactly equal your selling price. Not for any reason no matter how compelling or "gainful" for you.

  • Shipping and/or other payments toward third parties are NOT your responsibility. Further they are an enormously bad idea!

  • Use the internet to build up leads to sell your car, but sell it to somebody in your local area. Never try sell to someone who wants you to ship your car to them!

  • Keep in mind that under Federal Banking Regulations a bank has to make funds you deposit obtainable to you on a specified time schedule. i.e.: if you deposit a cashier's check in your account the bank must let you take out cash the same or next day! That is completely different from the funds actually clearing! It is entirely possible (and likely) that days or weeks later a fake cashiers check will "bounce" and the entire amount of the check (and possibly a service charge as well) will be deducted from your account (leaving you with a negative balance in most of the cases)!

  • While depositing a payment in your bank make sure you are extremely clear on differences between funds availability and possibilities of the transaction being reversed. Never believe that because your bank will give you cash that the payment is good!

  • When ever selling your car to anyone you doesn't personally know make sure someone you select (your bank, your attorney, etc) holds the title in escrow until there is absolutely no possibility of the payment transaction being reversed. That is likely to be many weeks if not longer.

  • Commit to memory that people in overseas countries have no problem purchasing most any car they want. There is no other reason for them to buy yours and pay thousands in shipping too. There is nothing THAT special regarding your car. No matter what they say.

  • Remember, someone actually fascinated in your car will want to look at it and have real queries about it.

  • Keep in mind, those perpetrating the car purchase scams have nothing else to do buy try and weasel money from you. They have slight risk (The Nigerian Embassy basically blames the victims). They have all day to make up excuses for each and every objection you might have.

  • Remember, from the sample letters one of them negotiated a $45,000 price I emailed them down to $40,000. The only crisis is I was just asking $16,000 on the web! They are simply emailing looking for a mark and the car is the least of their concern, who they are emailing or any of the details are entirely irrelevant.

  • Keep in mind, no one purchasing a car will desire that you keep the transaction secret!

  • Remember, the emails, schemes, etc evolve over time so you can look forward to new solicitations and the new ways to get your money (and possibly be your car) will come in your email.

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