Here are a few things to think about before you start your selling or buying on Craigslist!
Buying and selling cars on Craigslist can be a huge money-saver for both parties. Both can expect to make or save more than if they had gone to a dealership. This makes the Auto category in Craigslist’s For Sale section very active, especially in urban areas. With so many people exchanging so many cars for so much cash, it was only a matter of time before the criminal element took notice.
Fraudulent postings are now more common than you think.
The crudest attempts are easily ignored, but some schemes can be more complex. Some scams are operated by clever, experienced con men that have an answer for everything. Stolen checks, counterfeit checks and bounced checks are costing people their money, cars or both. In one common scam, the buyer accidentally pays more by money order or cashier’s check than was asked for and asks you to refund them the overage.
Think it through before sending your money!
If you send them the money before the money order clears the bank, you are braver than you are smart. These money orders often turn out to be counterfeits and any money sent them is lost forever. Buying and selling cars can be done safely if you take your time and pay attention. To help you identify internet scammers, we would like to share 7 most common warning signs.
1-Cars are priced far below current market value.
2-The seller claims to be in the military and is stationed overseas.
3-The posting does not include a phone number.
4-The seller will demand that you use an online escrow service or vin# validation site of their choice.
5-The person receiving the call is referred to as a “pickup agent.”
6-Payment must be wired to or from another country. Western Union is often requested.
7-The buyer or seller is very anxious to conclude the transaction.
KNOWLEDGE IS POWER ~ BE AWESOME AND EMPOWER YOURSELF!