How can we avoid getting ripped off on the car of your dreams? Here are a few scams one should look out for when buying a car.
Choosing the right car to buy is more than just its exterior and interior looks, but considering what fits your needs and budget the most.
When making such a big investment, it is important to be cautious about the many scams and frauds in the industry, as there are some car dealers and scammers looking to take advantage of your money.
Here are some important things you should look out for when buying a car:
Be careful when clicking ads online that advertise selling vehicles on auction sites. Sometimes, people end up copying the ads from real sellers despite not having any actual relationship with them.
When transacting, they would usually ask for a down payment to be sent to the agent. Once you send the money, they often disappear and the money's gone for good.
On this note, it’s important to buy a car directly from the seller only.
This is often carried out by criminals who steal a car and transform it into a resemblance of another.
During this time, they usually change the car’s Vehicle Identification Number, and a V5 engine can be modified for the car to look more trustworthy.
When looking at high-spec cars, it’s important to check whether or not it is legitimate, especially if it is being pegged at a lower price than the standard market price.
You have to check on the car face-to-face and track the address printed on the car’s engine as well to see whether or not it’s a scam.
-Failed Finance Deals
You find a car that fits your needs and budgets and agree to buy it. Unfortunately, after a while, the “seller” would call saying the deal could not push through given bad debts. They then request for a higher amount for that same car.
For those who are unaware of their own transaction history and financial situation, this could most likely happen.
When it does, never agree at once to the new amount. Instead, take your time to assess the situation.
International scammers post car ads on websites, and once they are contacted, they send an e-mail saying that the car is in a certain place due to a credit issue.
They then ask you to pay through a site that they provide, which is often a scam website disguised as a reputable one.
Most of the time, these scammers do not provide phone numbers or detailed contact information other than an e-mail address to track your payments.
Always be aware of the people you transact with online, and it is definitely a lot better to meet in person to avoid getting scammed.
-Dealer Preparation Fee
When signing contracts, always be aware of all the information written on it, even the smaller prints. That way, you check whether you need to pay an additional fee to the seller for preparing the deal.
If not, it is possible that they can contact you and ask for a large amount of money that you were not aware you needed to pay.
These are only some of the many scams and tricks that one can fall for when purchasing a new car.
Before deciding on a car or signing anything, be sure to always double check who you are transacting with and if possible, buy directly from sellers or reputable car dealerships to avoid getting scammed. (MO/With report from PDI)
Tags: #helpfultips, #carbuying, #scams