Fraud Awareness Tips
Common-Sense Advice for Buyers
Buying a car you find online is a lot like buying a car through a classified
ad in the newspaper. When you purchase a car using AutoSeekandSell.com,
use the same good judgment as you would if you were looking in the newspaper
classifieds. Whether you’re communicating with the seller over
the phone or via the Internet, the following tips can help you protect
yourself against fraud so you can buy with confidence.
Inspect the car. You should verify the condition of the car
before you buy. Schedule an inspection with a professional mechanic.Though
an inspection isn't a warranty and there's no guarantee that all existing
defects will be found, a qualified mechanic can help you identify and
avoid problems.
Obtain a vehicle history report. Depending on the provider,
a vehicle history report can offer useful information about the vehicle's
history, such as title information, whether it has been salvaged, damaged
or reported stolen and if it is classified as a lemon.
Confirm contact information. Before you send payment, know how
to contact the seller if you need to. Verify the seller’s address
and phone number—an email address is not enough. If the seller’s
address doesn’t match the address on the title, be sure you know
why. And be particularly careful if the buyer is located overseas.
Get a detailed receipt. Ask the seller for a detailed receipt
that states whether the vehicle is being sold with a warranty or "as
is." Know what's required in your state to transfer the car’s
title from seller to buyer.
Consider escrow services. For additional comfort, you may prefer
using a reliable escrow service. An escrow service can hold your payment
until you receive the car. Shop carefully and choose an escrow service
that is fully licensed and accredited. Don’t turn your money over
until you’ve fully checked it out. Additionally, make sure you
understand all terms of the escrow arrangement.
As in all consumer transactions, there is no substitute for a healthy
skepticism and your own good judgment. Remember, if a deal seems "too
good to be true," it probably is.
View our tips for sellers
Additional Resources:
Recently Reported Online Classifeds Fraud Scam
http://www.ftc.gov/bcp/conline/edcams/automobiles/index.html
http://www.ftc.gov/bcp/conline/pubs/online/auctions.htm#Online%20Escrow%20Services
http://www.fdic.gov/consumers/consumer/news/cnspr03/index.html
http://www.fdic.gov/news/news/SpecialAlert
