Buying Used Cars: Protect Yourself from Online Fraud
The good folks at CraigsList have send me some reminders about online shopping safety tips. CraigsList has become favorite place to buy and sell used cars. It offers one huge advantage over AutoTrader (also a great resource): it's free!
Still, in our experience, there are Craigs List type cars (on the lower end of the spectrum) and then there are good AutoTrader cars (usually a little newer or luxurious). Craigs List doesn't offer the reach of AutoTrader but it is fast and very easy to post an ad...
Usually, it is quickly pushed down by newer ads so it has to be reposted every few days.
If you are shopping online here are a few things that Craigs List would like you to remember:
For more information about personal safety online, check out these resources:
DEAL LOCALLY WITH FOLKS YOU CAN MEET IN PERSON - follow this one simple rule and you will avoid 99% of the scam attempts on craigslist.
NEVER WIRE FUNDS VIA WESTERN UNION, MONEYGRAM or any other wire service - anyone who asks you to do so is a scammer.
FAKE CASHIER CHECKS & MONEY ORDERS ARE COMMON, and BANKS WILL CASH THEM AND THEN HOLD YOU RESPONSIBLE when the fake is discovered weeks later.
CRAIGSLIST IS NOT INVOLVED IN ANY TRANSACTION, and does not handle payments, guarantee transactions, provide escrow services, or offer "buyer protection" or "seller certification"
NEVER GIVE OUT FINANCIAL INFORMATION (bank account number, social security number, eBay/PayPal info, etc.)
AVOID DEALS INVOLVING SHIPPING OR ESCROW SERVICES and know that ONLY A SCAMMER WILL "GUARANTEE" YOUR TRANSACTION.
The above tips all agree with those I listed when I wrote a story some time ago about Online Fraud. Sadly, that story was initiated after a co-worker's family was taken to the cleaner's on a bad car dealer.
Protecting yourself against is largely common sense. But in a changing world, with buyers and sellers only connected by the internet, caution is the key word.
- Posted by
- Philip Reed November 26, 2007, 10:24 AM
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I'm tire-kicking a craigslist listed car right now for grins. It's local, it'd be a cash deal, the guy has title in hand, etc.
The big problem is that craigslist didn't tell the guy to check Edmunds - he's $3,000 high on his asking price so I almost didn't bother emailing him at all, and I haven't been motivated to follow up on the "let's meet and you can drive it" reply.
If you want to sell your car, you'll get more inquiries if you aren't a pig on price. Cars are mostly appliances these days - it's not like there won't be another one similar to yours on AutoTrader or craigslist tomorrow.
I'm a little amazed at the way that some people priced their used cars for sale. They just seem to make up price they feel is about right. It's usually way too high for what the market will bear.
In Los Angeles I've found you have to be very close to the right price to get any calls -- there's just too much competition, too many cars for sale.