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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 better financial choices by offering interactive tools and financial calculators as well as publishing unique and impartial content. This allows users to conduct research and compare information for free and help you make financial decisions with confidence. Bankrate has partnerships with issuers such as, but not limited to American Express, Bank of America, Capital One, Chase, Citi and Discover. How We Make Money The offers that appear on this site are from companies that compensate us. This compensation could affect how and where products appear on this site, including such things as the order in which they be listed within the categories of listing, except where prohibited by law. Our mortgage, home equity and other home lending products. But this compensation does have no impact on the information we publish, or the reviews appear on this website. We do not contain the universe of companies or financial offerings that could be accessible to you.

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5 min read published on October 13, 2022.

Authored by Rebecca Betterton Written by Auto Loans Reporter

Rebecca Betterton is the auto loans reporter for Bankrate. She specializes in assisting readers in navigating the details of using loans to buy a car.

Editor: 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 control their finances with concise, well-studied and well-researched content that dissects complex topics into manageable bites.

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The ability to purchase a car from the comfort of your living room with a few simple clicks is a great option but also comes with some risk. Similar to the rest of the internet frauds have made their way into the online world. Beware of common scams to ensure you don’t make a loss when you purchase an automobile. Common online car buying scams These are the scams FTC (Federal Trade Commission) offers guidelines for online car sales –but there are a few typical scams to watch out for when . Identity theft Scammers are not only looking to scam you out of your funds, but also to gather your personal information. They’ll ask for details such as your Social Security number, birthdate or banking number. Don’t share your personal information with potential sellers aside from your name and number. If you do apply for a position an opportunity, ensure that the seller is authentic, licensed and has positive reviews. In other cases, it might be better to apply for a outside of the dealership -or go to a location where to verify you are legitimate. fake ads If you’re seeking an auction, you may see advertisements that don’t list the VIN or vehicle identification number. If you’re not able to confirm that the vehicle exists — as in you can see it personally and verify it’s VIN is correct Don’t pay. It is not uncommon for scammers to present a vehicle in an advertisement without actually having the vehicle. If the vehicle is present, ensure that it is not classified as stolen and it has a clean vehicle history report. The scam of “curbstoning” occurs where a dealer claims to be a private seller in order to sell an unconformity-related vehicle with normal dealer regulations — meaning it has a salvaged title or is otherwise damaged. A salvaged title can be a major problem when it concerns insuring the vehicle. Avoid this fraud by staying away from online auctions of vehicles that are located on vacant lot in the middle of the road or at the residence of the seller. And as with every private auction, make sure you verify the seller’s identity and VIN are legitimate prior to signing a contract. If you are buying a car sight-unseen, never agree to buy a car without seeing it. Not only is it best to take the car you are considering to a test drive , but buying sight unseen could mean that the car may not appear as the photos suggest or worse — not exist in any way. If the seller pressures you or encourages you to complete a fast deal before you have a chance to inspect the vehicle in person, it’s likely to be a scam. Ask for wire transfers or gift card If the prospective seller demands a wire transfer for the car payment, do not accept it. This is a method used by scammers to steal your money and offer no guarantee of a vehicle. The money you wired isn’t traceable and very difficult to recover. This means you may end up with no car and no potential refund. Similar to scammers who want payment via wire transfer, a few sellers will 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 scam you. Title washing washing is a method to cover up damage caused by the wreck or other problems in the vehicle’s past. Even if you must pay for it Always get a vehicle history report for the VIN. It’s not sure if it will provide you with all the details the car has gone through, but it can assist you in avoiding falling victim to a scammer seeking to sell a risky car. Fake escrow accounts While this scam could go both ways, be aware of the use of a fake escrow account when you purchase a vehicle online. Using an escrow account is a legitimate way to keep both parties secure from fraud. However, scammers may use an escrow account that is fake to trick you into depositing funds directly into the seller’s account. When it comes time to collect the car and transfer the title the seller has stopped being in contact with you and you’re left with no way to recover your money. Is online car buying an excellent idea? If you choose to use a legitimate service, then buying a car on the internet is the same as purchasing a car from an auto dealership. Even if you use an individual seller, don’t allow the possibility of scams happening discourage you from buying. If you are a savvy buyer You’ll more likely not get fooled and will be more likely to drive away satisfied with the purchase of your car. Benefits of buying a car online If you are aware of the frauds to avoid and look up a reliable source, buying a car online has its benefits. It is primarily about saving time. It isn’t necessary to go to numerous dealerships and spend time physically browsing inventory on many. Online shopping gives you unlimited options for shopping. Since you aren’t limited to the selection in a store and you can be sure to find a better match for your needs. No sales pressure — in the end, you’ll be browsing websites on your phone or computer without having to deal with professional salespeople. If you choose to go with a brand similar to Carvana or Vroom, you’ll have access to nationwide delivery. There could be a modest charge, but if locate the perfect car, it might be worth the cost. The drawbacks of buying a car online In addition to scams, there are a few reasons people still choose traditional dealers. Large online sites do not allow for negotiations. You can negotiate with a private seller however, you be at risk of getting caught in a scam. Lenders may not offer financing for private sales when you are looking online. In the event that they offer it, you may find that the rates are higher than with a new or used vehicle loan. You might not be able to conduct an inspection in person until you meet with the seller or get the vehicle delivered. Also, it could be harder for a mechanic to check it when you are shopping online. What should you do if you’ve been scammed If you think you have fallen victim to an online fraud There are some actions you need to take. Make a formal complaint directly to the fraud center. Call your local attorney general. File with the FBI’s . Report the fraud to the . It could become difficult, or even impossible, to get your money back if you sent it through a wire transfer or transferred gift cards. Be aware of your bank activity when you have entered any data on a fake website. If you notice any activity, contact your bank about the fraud and change any usernames or passwords linked to the account. The bottom line: If a car deal sounds too good to be true the likelihood is that it is. A car purchase online can be a perfectly safe way to get a used vehicle. However, you must keep an eye out for frauds that are common and trust your instincts. If you notice something that seems suspicious, it probably is. In the end of the day, there’s a lot of used cars on the market. You can always leave a deal and find another, more legitimate seller on trusted websites — or simply go to a 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 in navigating the details of borrowing money to purchase a car.

Editor: Rhys Subitch Edited by Auto loans editor

Rhys has been writing and editing for Bankrate since late 2021. They are dedicated to helping readers gain confidence to control their finances by providing clear, well-researched facts that break down complex subjects into digestible pieces.

Auto loans editor

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