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How to avoid online car buying scams Advertiser Disclosure Advertiser Disclosure We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by offering you interactive tools and financial calculators that provide objective and original content, by enabling you to conduct your own research and compare data for free to help you make financial decisions with confidence. Bankrate has agreements with issuers such as, 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 who pay us. This compensation could affect how and when products are featured on this site, including such things as the sequence in which they appear within the listing categories, except where prohibited by law. Our mortgage, home equity and other home lending products. But this compensation does not influence the information we provide, or the reviews you read on this site. We do not contain the universe of companies or financial deals that could be accessible 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 is a specialist in helping readers in navigating the ways and pitfalls of using loans to buy an automobile.







Editor: Rhys Subitch Edited by Auto loans editor

Rhys has been editing and writing for Bankrate from late 2021. They are passionate about helping readers gain confidence to take control of their finances by providing concise, well-studied and well-researched content that breaks down otherwise complicated topics into bite-sized pieces.









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Buying a car online from the comfort of your living room by just a few clicks can be a good thing however, it comes with some risk. Similar to the rest of the online world there are scams that have slipped into the online world. Beware of the common scams so you don't lose 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 --but there are some commonly-spread scams to be on the lookout for when . Identity theft Scammers are not only looking to con the victim out of their money , but they also want to collect your personal data. They may ask for information such as your Social Security number, birthdate or bank account numbers. Do not share any personal details with potential buyers, excluding your name and number. If you do apply for a position , ensure that it is legal, legitimate, and has positive reviews. In other cases, it might be more beneficial to apply outside of the dealership -or visit a place where to verify you are above board. False advertisements When searching for private sales You may come across advertisements that don't list the VIN, or vehicle identification number. If you're unable to confirm that the vehicle exists -- as in you can see the vehicle in person, and be sure it's VIN is valid do not send any money. It's not uncommon for scammers to present vehicles in ads but not have the vehicle. And even if the vehicle exists, make sure it's not listed as stolen and that it has a clean vehicle history report. Curbstoning This scam is where a dealer claims to be private sellers in order to sell an unconformity-related vehicle with the normal regulations of dealers which means it has an unsalvaged title or is otherwise damaged. A salvaged title can be a major problem when it comes to insuring the vehicle. You can avoid this fraud by staying away from online auctions of vehicles that are located on empty lots in the middle of the road or at the home of the seller. And as with all private sales, make sure you check that the seller and VIN are genuine before you agree to buy. If you are buying a car sight-unseen, never agree to purchase a vehicle without having seen it. It's not just best to take the car you are considering for a test drive and purchasing it without seeing it could mean that the vehicle might not look like the pictures or worse -- not exist in the first place. If the seller pressures you or entices you to make a quick purchase before you see the car in person, it's likely a scam. Ask for wire transfers or gift card If the potential seller asks for an electronic transfer to make the car payment, do not accept it. This is a method used by scammers to take your money , but with no guarantee of a vehicle. The money you wired isn't traceable and extremely difficult to trace. It means that you could be left without a car and no potential reimbursement. Similar to scammers who want payment through wire transfer, some sellers may ask for gifts cards in exchange for payment. Don't be fooled. Gift cards are not traceable and mean the seller is likely attempting to fraud you. Title washing Title washing is an attempt 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. This isn't guaranteed to provide you with all the details the car has gone through however it will aid you in not falling victim to scammers trying to sell you a dangerous vehicle. Fake escrow account While this scam could go both ways, it is important to be aware of the possibility of using a fake escrow account when you purchase a vehicle online. Using an escrow account is legitimate method to keep both parties safe from scams. But, scammers could use fraudulent escrow accounts to convince you to deposit funds directly into the seller's account. When it's time to pick up the vehicle and transfer the title the seller has stopped being in contact with you and you're without a way to retrieve your money. Are online car purchases an ideal choice? If you use an authentic service, buying a car online is exactly as secure as buying from a dealership. Even if you go with a private seller, don't allow the possibility of a scam happening deter you from buying. Being a well-informed consumer you'll be less likely to be scammed and more likely to drive away content with your purchase. Benefits of purchasing a car online If you know the types of frauds to avoid and you are able to find a legitimate source, purchasing a car online can have its advantages. It is primarily about saving time. It isn't necessary to go to several dealerships and have to deal with physically searching inventory on many. Online shopping gives you unlimited possibilities for shopping. As you're not limited to the options in a store, you may be able to find a more exact suitable match to your needs. There's no pressure to sell since, in the end, you'll be browsing websites on your smartphone or laptop, not subjecting yourself to professional salespeople. If you decide to purchase something similar to Carvana or Vroom and you'll be able to access to delivery across the country. There may be a small cost, but if you find the right car, it could be worth the cost. The drawbacks of buying a car online Apart from the scams, there are couple of reasons why people prefer traditional dealers. Big online sites don't mean that there is no negotiation. You will be able to bargain with a private seller, though you will be at risk of being victimized by a scam. Lenders may not offer financing for private sales when you are looking online. Should they, then you could discover that the interest rates are higher than those for the purchase of a used or new vehicle loan. You may not be able to conduct an inspection in person until you meet with the seller , or have the car delivered. It could be even more difficult to have a mechanic inspect the car when you buy it online. What do you do if been scammed If you think you've been a victim of an online fraud There are some steps to do. You can file a complaint directly with the center for fraud. Call your local attorney general. Report the fraud to the FBI . Inform the FBI of the . It might take a long time or be impossible receive your money back if you sent it through a wire transfer or exchanged gift cards. But, be aware of the transactions you made with your bank in the event that you have entered information on a fake website. If you spot any suspicious activities, notify your bank to report the fraud and change any usernames or passwords connected to the account. The bottom line: If a car deal sounds too appealing to be true, it probably is. Buying a car online can be a very safe option to purchase a second-hand car. But you need to keep an eye out for frauds that are common and trust your gut. If you notice something that seems suspicious there's a good chance it's. At all times, there's a lot of used vehicles on the market. It is possible to leave a deal and find another, authentic seller via reliable websites or go with the used car dealership. Find out more


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Authored by Auto Loans Reporter

Rebecca Betterton is the auto loans reporter for Bankrate. She specializes in assisting readers with the details of borrowing money to purchase the car they want.



Edited by Rhys Subitch Edited by Auto loans editor

Rhys has been writing and editing for Bankrate since the end of 2021. They are dedicated to helping readers gain the confidence to take control of their finances with concise, well-researched, and clear facts that break down complicated topics into bite-sized pieces.






Auto loans editor




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