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1. The Must Sell Now Scam. The FBI recently updated a longstanding warning to be on the lookout for a scam that cost car buyers more than $54 million between 2014-2017.
When you sell a car online, you are often still meeting with strangers if you choose to sell to a local private party. You might even be in the car with a stranger for a test drive.
The latest Facebook Marketplace scam to watch out for: a scheme that sold rented cars for cash on the online secondhand shopping platform.
Between 2021-2023, consumers reported a $12,600 median loss in fraudulent vehicle sale and escrow scams and a $45 median loss in fake vehicle report scams. When shopping for a car online, take a ...
A recovery room scam is a form of advance-fee fraud where the scammer (sometimes posing as a law enforcement officer or attorney) calls investors who have been sold worthless shares (for example in a boiler-room scam), and offers to buy them, to allow the investors to recover their investments. [92]
There is usually a fee associated with selling a vehicle on eBay. [14] Some buyers prefer to look for local car sellers on eBay, within a certain radius so that they can go and do a manual inspection of the vehicle. [15] There are several cases of scams associated with popular online auctions. [16]
It's been a while since I last bought a car. I caught a shyster trying to sell a car that likely didn't exist and in the process learned a few things about how to protect yourself when buying a ...
When it comes to this scam, a seller will offer an amazing deal on a car with a relatively believable reason for needing a quick sale (i.e. the cause for the amazing discount).