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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 ...
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 ...
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...
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The FTC’s “Combating Auto Retail Scams” (CARS) rule was supposed to take effect in July of 2024, but due to a pending legal challenge, the Final Rule’s effective date is delayed until ...
Step No. 1, when buying a used car, is the same as the starting point for buying a new car — or buying anything, for that matter: Find out what you can afford. ... 4 Sneaky Car Dealership Scams ...
The so-called yo-yo scam, on the other hand, is illegal and is only used by the most unscrupulous of dealers. According to the Federal Trade Commission (FTC), this scam targets buyers who finance ...