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“A little known and weird tip for avoiding eBay scams is to look at how much the retailer’s total inventory adds up to. If it is $500 or less, they are likely scammers,” warns John Cho ...
3. Gift Card Scam. Another hallmark of many scams targeting used car buyers is a request for gift cards as payment. When the buyer calls the fake toll-free number, they’re told to purchase gift ...
Scams and confidence tricks are difficult to classify, because they change often and often contain elements of more than one type. Throughout this list, the perpetrator of the confidence trick is called the "con artist" or simply "artist", and the intended victim is the "mark".
In the National Highway Traffic Safety Administration's (NHTSA) 2002 odometer fraud study, the NHTSA determined that 450,000 vehicles were sold each year with false odometer readings, resulting in a cost of over $1 billion annually to car buyers in the US. [3] In the UK, the Office of Fair Trading estimates the annual cost at £500m. [4]
In the United Kingdom, vehicle matching scams are listed by the AA as one of the most common used car buying scams. [1] According to Peter Stratton of the Trading Standards Institute, high pressure selling alongside cold calling made this a very successful scam that often leaves consumers with little chance of obtaining redress. [2]
Purchasing a new car is a pretty straightforward affair. Buying used, however, requires you to do much more legwork to make sure you're getting a good car and a good deal — and that you're not...
BBB just released an update to a 2020 study about online car buying scams. Starting in 2020, consumers reported that scammers were taking advantage of the COVID-19 pandemic to list fake vehicles ...
The miracle cars scam was an advance-fee scam run from 1997 to 2002 by Californians James R. Nichols and Robert Gomez. In its run of just over four years, over 4,000 people bought 7,000 cars that did not exist, netting over US$ 21 million from the victims.