It is an exciting moment when you finally have the chance to purchase a car for personal use. It may not be a brand new model, but it definitely is something that you should be
It is an exciting moment when you finally have the chance to purchase a car for personal use. It may not be a brand new model, but it definitely is something that you should be proud of. You have already spent days and nights at work just save up just to be able to buy your first car. But before you get too excited, you need to know that car buying scams are everywhere and you should know more about them.
TOP 5 Used Car Buying Scams
Buying a used car can save you a lot of money, but as a potential car buyer, you need to know more about these car buying scams. Scams do not only happen to brand new car model buyers. This can also happen to those individuals purchasing a used car. Understand more about the most common used car buying scams and learn how to protect yourself from being one of their many victims.
- Title Washing. This is one of the most common scams where salvaged vehicles are being removed from the “salvage” status. Scammers do this to vehicles that were previously repaired and salvaged after a huge car wreck or damaged due to natural disasters. With title washing, the seller can hide this important information and make it look like the vehicle has never been through this damage.
- This involves a car dealer who poses as a private seller to avoid any national and state regulations associated with buying and selling cars. These scammers will post advertisements selling the vehicles and pretending that they are the owner. Always make sure that the seller’s drivers license matches the name on the car title.
- Odometer Fraud. This happens when someone tampers the odometer to make it look like the vehicle has lower mileage to sell the vehicle for a higher price. To avoid this, ask vehicle maintenance records and try to match the information to the actual odometer reading.
- Escrow Scams. This is when the seller directs you to deposit your payment to a fake “escrow account” and when the money arrives, the vehicle and the seller are both gone. To avoid this, do business face to face including the exchange of money.
- VIN Cloning. This refers to buying a stolen car. The thief took the VIN or the vehicle identification number from one vehicle and attached it to the stolen one. To prevent this from happening, look for matching registration and title information. Also be careful of sellers who do not have a fixed address.
Used Car Tampering – How To Make Sure That You Are Not A Victim?
One of the simplest and the easiest way to check for any used car tampering is to order a Vehicle History Report (VHR). Check VIN is one of the most trusted companies when it comes to VHR needs. Their PPSR and REVS check certificates are instantly available online. This document can provide you with the information about the past owner/owners of the vehicle, any accident or damage history, and also faulty odometer setting. Avoid these scams and make sure that your transaction is safe and scam-free.