Have you ever heard the saying: “If something seems too good to be true, it probably is”? If so, you’ve already received some of life’s most practical advice. And today, we’d like to apply that advice to three potential scams you can run into when buying a used car by owner.
1. “Runs great”
When you’re buying a used vehicle, almost every ad you read will claim that the car runs great, and in many cases this will be true. Our advice here is not to take anyone’s word for it. Bring it into one of our dealerships and have a technician do a multi-point inspection. It may cost you a little extra, but you can’t put a price on peace of mind.
2. Rebuilt salvage titles
To receive a salvage title, a vehicle must be deemed a complete loss by the insurance company who paid a claim on it. If someone is selling a vehicle that has been rebuilt with a salvage title, we’d steer clear of it for obvious reasons. You can get more for your money.
3. Fake money order
Cash is king, but verified money orders are just as good. Just make sure any money order you receive, you verify. A common scam is for someone to send you a fake money order for a larger amount than you requested, and then request that you refund the difference back to them. The bank deposits the fake money order, puts the money into your account, and you refund the difference – then a few weeks later the money order bounces, and you’re out thousands of dollars. Don’t get caught up in this kind of scam.
Do you know of any more troubling scams? If so, we’d love to add them to our list. Our goal is to keep people from getting caught up in this kind of hassle, and spreading information is one of the best ways we know how. Let us know on our Facebook!
Leave a Reply