Online Car Sale Scams
Posted on Aug 08, 2024Sadly, online car sale scams are on the rise. With fake ads and bogus photos, car sale scams have soared by 74% this year, so beware.
With the nation’s favourite brands, Ford, Audi and BMW, being the most targeted for online scams, it is important to know the telltale signs of fake ads, and how to protect yourself!
Seen a great car ad on social media? Or so you thought! Lloyds Bank has found the majority of online car sale scams begin on Facebook and have seen many innocent shoppers scammed out of thousands!
How to avoid an online car sale scam
Avoid pressure tactics
Pressure-selling tactics is when the seller creates fake interest around the car’s sale. By telling the potential buyer that they have several other offers creates a buzz around the car and pressures the buyer into making a deposit to reserve the car or even buy the car without viewing it first!
Never send payment before viewing and test driving the car
Fraudsters will often demand a deposit or even the full amount to “secure” the car. The scammer makes excuses to explain why the car cannot be physically viewed beforehand. Once the payment has been received by the scammer, the buyer will be blocked, and the seller’s profile will disappear, leaving you out of pocket!
Always complete a history check
You should always do a history check on the vehicle to ensure that it’s not stolen and that the car’s details match those on the ownership registration and roadworthy documents. History checks can often show some red flags which we aren’t able to see!
Sky News have even more ways to spot an online car sale scam and stories from real online car sale scam victims.
If you have fallen victim to an online car sales scam, you should report it to your local police force and Action Fraud immediately.
Need a helping hand?
Do you need a helping hand buying a new car?
With rates from just 2.9% APR and cheaper than most credit cards, our straightforward loans are easy to apply for, with options for everyone! To learn more and apply for a loan, click here.