Various Scams Relating to Online Car Dealer Transactions and How to Avoid Them

With the technology that is available today, one can purchase almost anything online, even cars. However, although many online car dealers are reputable, there will always be the possibility that some sort of scam can occur. The following paragraphs will highlight a few of these scams relating to online car dealer transactions and detail how one can prevent themselves from becoming a victim of one of these scams.

Escrow Services That Are Fraudulent in Nature

When individuals purchase expensive items online, such as automobiles, they will frequently use escrow services. Escrow services hold a buyer’s money until the product is delivered from the seller and received by the buyer. Only then will the money be released from escrow. Scams in this arena occur when an individual sees a vehicle they want to purchase online on one of the many auto sales or auction websites and relay their interest to the seller. The seller will then email a generic type of letter to the interested buyer and state that a third party escrow service will hold the funds. When the buyer sends the money to the supposed escrow service, no vehicle is ever received and the money disappears along with all parties, i.e. the seller and fake escrow service.

There are a few different precautions which an individual can take to protect themselves from falling prey to one of these online scams. The first and most important thing one must do in order to help protect themselves from fraudulent escrow tactics is to thoroughly look into the legitimacy of an escrow service prior to using them. One can check out escrow companies by searching online or with corporation filings to ensure that the escrow company is legitimate.

Another key indicator that something may not be quite right with an escrow company is when the company sends the buyer a form letter that does not even address the buyer by name. This factor, when added with others, may help the buyer to be cautious about dealing with a certain company.

Buyers may also protect themselves against this type of fraud by using their own escrow company; one which they know is legitimate. By doing so, the buyer is helping to ensure that the escrow company is an independent entity and will do a good job. However, prior to choosing a particular escrow company, just make sure to follow up on their legitimacy as well so that one does not choose an illegitimate escrow company on their own.

Lastly, if individuals are really skeptical of using any escrow service to complete an auto purchase, consider purchasing elsewhere as opposed to online. By doing so, the buyer may feel more at ease by having a face-to-face transaction.

Although one can never be entirely free from worry when completing an online auto transaction of this nature, the aforementioned items will help to better ensure that the escrow company which one is using is legitimate.

Fraud via Cashier’s Check

Another online car dealer scam that has occurred to individuals in the past is the cashier’s check scam. This fraudulent act occurs when you, the seller, try to sell your used car via an online car dealer website or auction site and the buyer pays for the vehicle with a fake cashier’s check. The end result of this scenario is that the seller is minus one automobile and has no money to show for it. There are a few different ways in which sellers who wish to sell their vehicles online can protect against becoming a victim of this criminal act.

The first way to protect oneself against fraudulent cashier’s checks is to not accept cashier’s checks at all. There are a number of other options one can choose to receive payment through and eliminating the acceptance of cashier’s checks altogether will eliminate the possibility of receiving counterfeit ones.

Another way in which sellers of used automobiles online can eliminate scams relating to cashier’s checks is by completing the sale during bank hours. By doing so, the seller of the used vehicle is able to call the bank that issued the cashier’s check and make sure that the check is in fact genuine. For something that may just take a few minutes by way of a phone call, it is definitely worth it to ensure that the payment is good.

Conclusion

In summation, it is important to point out again that many online car dealer transactions will be free from fraud and scams. However, it is important to have the knowledge that these things happen from time to time and there are ways to help safeguard against them.

Is It Wise to Buy Used Automobiles Online?

The answer is definitely yes. If one has a limited budget and wishes to buy a used automobile like a car, a motorbike, truck, etc., it is indeed a very good idea to extend your search online. And there are two primary reasons behind it:

1. Your options become wider.

2. There is more scope of price negotiation for the choice range is vast.

For example, if you are looking for a repossessed car for sale, a search on an online buying and selling portal can lay before you a pretty wide variety of old cars that are in good condition and can be had from or near your area.

Let’s look at some of the wise things that you must do if you are buying old automobiles online:

• Find What You Want

This is very first step. You really need to figure out your areas of search. It would be the best if you have it chalked out as to what make or model you prefer. The portals are efficient enough to display filtered results. You must also consider a convenient area to buy the vehicle from. There are thousands of listings and you are likely to find some great options.

A really useful tip here is that you can opt for rental cars. The rental companies usually pull their vehicles out of service after 2-3 years of use. This leaves them in good condition internally and because they are particular about timely servicing of the automobile, you get a really good engine and fairly good tires. About minor dents and scratches, never mind them if the vehicle is doing a good job otherwise.

• Find Out the Vehicle’s History

Once you find a good match for your requirements and budget, get in touch with the seller and make some basic inquiries about the vital history, for example its mileage, how old it is, what tires it has. Once convinced with the basic information, fix up a meeting and take a look at the machine you is a must. Whether it is a motorbike or a car or a boat, physical inspections is a must. Look for things like bodywork, engine, tires, paint, mileage, suspension, etc. it is also important to check it for water damage. If the owner has engine reports, you may want to read them.

• Negotiate

You have to be a pro at this. Since there is no fixed price when it comes to repossessed cars and other vehicles for sale, the scope of negotiation becomes immense. The best way to do it is by keeping your research about the vehicle ready. It may be a daunting task but sound research will make it easy.

• Close the Deal

Decide the terms of payment before you close the deal. Paying cash should not be on your list since it is the most difficult to document. Later if anything goes wrong with the deal, it becomes a herculean task to get your money back. Also, check all the paperwork of the automobile before you pay anything. Use a credit card or a cheque to make any sort of payment so that you have a paper-trail proof for the transaction.

Automobile Insurance Quotes Online – The Easiest Way to Compare and Save

The reasons why people need to get a car or automobile insurance quote is to compare the rate they pay, find the best coverage and of course do it in an easy and convenient way. That’s why you should get your automobile insurance quotes online.

Online automobile quotes online can save a lot, not only your energy, your gas but your precious time. Shopping around getting quotes for automobile insurance is a waste of time and sometimes you are so busy with your work and no time to shop around to ask for an auto insurance quote.

Mostly online quote are free, without obligation and it’s not a waste of time and nothing to be in a hurry making your work since you own your time when you want to go online to get automobile insurance quote. The quote forms are available to fill it up and with easy, fastest process to do.

Knowing that automobile insurance is important to people with cars or vehicles and it protect you against financial loss if ever you meet an accident. Auto insurances provide property coverage to pay for damages, theft of your car or fire.

The liability coverage also provide by your car insurance in order to pay for your legal responsibility to others for bodily injury or property damages. Some also provide medical coverage to pay for the cost of treating injuries as well as rehabilitation and that depend on what coverage you want for your auto insurance.

Not only can you find or get quotes online but you can also purchase your automobile insurance online as well. Getting quotes online for automobile insurance is necessary before purchasing one. Not only can you save money but you will learn a lot also since one should have an idea regarding auto insurance.

Lots of automobile insurance companies online where you can choose to get auto insurance quotes and some insurance companies online provide their own question for you to fill it up before you can get quotes for your automobile insurance. You may answer their information sheets and be honest with your answer.

Actually the rate depends on what type of car you have, the model and age of the car you have. Usually low speed car has lower rates compare to new model or high speed cars or automobile.

Some people finding hard time to get insurance on their automobile due to the fact that there are many false advertisement especially online, so one must be careful getting automobile quotes online.

Remember that getting auto insurance quotes requires no money or any obligation. You are asking for an insurance quote of your car not purchasing auto insurance so money does not involve in getting an auto insurance quotes online. Car insurance companies online have to give good service to the people by giving free auto insurance quotes of their needs.

Knowing that there are many auto insurance companies and to gain customer, one should give a good service to the people. Some even give big discounts just to gain customers because this type of business is very competitive.