Here are some things to watch out for:
- Very Low Price - if the seller's asking price seems to good to be true, it probably is.
- Out of Country - be very cautious if the seller claims to be in another country. Scammers often use this, combined with other fictitious personal circumstances, as an explanation for the low price on their ad.
- Wrong Phone Number - scammers prefer to communicate by email only, and often provide an incorrect phone number or no phone number at all on their ad. If the wrong phone number is posted and the seller won't provide a working number, avoid the deal.
- Request For Your Personal Information - inappropriate requests for your personal or financial information are definitely a warning sign, especially when requested early in the process.
- Phony Escrow Companies - take extreme caution here. Scammers can easily create websites that look like legitimate escrow companies but are really just a front to try and get a deposit from you. Using a third party facilitator for long distance transactions is a good practice, but only use those that you already know and trust.
- SpecialtyCarSource as a Third Party - SpecialtyCarSource.com does NOT provide escrow, take deposits, issue refunds or warehouse seller's items. SpecialtyCarSource.com provides ad listings only, and is never involved in the actual sale of an item.
- Wire Transfer - scammers will often request a deposit by wire transfer because it's fast and once they have the money, it's gone. Do not send a deposit by wire or money transfer. The only truly safe way to pay online for a vehicle you've never physically seen is to use a service like an escrow service or an alternate payment service.
- Email Address in Ad Description - some sellers post their email address in their ad description. While this does not necessarily indicate a scam, we strongly recommend clicking on the red "Email Seller" button in the ad and sending your email message through our system as an extra precaution.
Common-Sense Advice for Buyers:
Buying a car you find online is a lot like buying a car through a classified ad in the newspaper. In either case, use your best judgment.
Know the car's market value
Be suspicious of a vehicle priced significantly below market value. If it sounds too good to be true, it probably is.
Obtain a vehicle history report
A vehicle history report can provide useful information, such as who holds the title to the car and whether the car has been in an accident reported to authorities. You'll also find out whether the car was ever reported stolen, salvaged or damaged.
Inspect the car
Schedule an inspection with a professional mechanic or an inspection service if the car is not in your area. An early inspection can help you identify problems. However, keep in mind that an inspection isn't a warranty and won't guarantee a car is free from defects or that inspectors have identified all existing problems.
Confirm contact information
Before you send payment, verify the seller's street address and phone number - an email address is not enough. ZIP codes, area codes and addresses should match up. Be wary if the seller is located overseas.
Use email wisely
Avoid sending sensitive personal or financial information (such as your social security number, credit card number or checking account number) to a seller via email. Remember that email communications are not secure and can be easily forwarded to others.
Get a detailed receipt
Ask the seller for a receipt that states whether the vehicle is being sold with a warranty or "as is."
Get title to the vehicle
Make sure you know what's required in your state to transfer title to the vehicle you're buying.
Common-Sense Advice for Sellers:
Selling a car you find online is a lot like selling a car through a classified ad in the newspaper. In either case, use your best judgment.
Confirm contact information
Be particularly wary of buyers willing to purchase your car sight-unseen, especially buyers located overseas. Always verify the buyer's street address and phone number.
Secure payment first
Do not transfer the title until you have payment in hand at the agreed upon price.
Verify that a certified check is genuine
Before you deposit a certified check, verify authenticity with the issuing bank-not just your bank. Make sure the account contains sufficient funds and the issuing bank guarantees payment on the check. It may take up to 30 days for the check to clear. It hasn't cleared just because your bank has accepted it and credited your account.
Beware of overpayment or other complicated payment schemes
Don't agree to any plan where the buyer asks to send a check for more than the sale price and requests that the seller refund the difference. And be suspicious of any buyer who proposes making payment through a friend or agent of the buyer.
Whether you are selling or buying a specialty car, take your time, be aware and ask questions. All of us here at SpecialtyCarSource.com want you to enjoy your search for that special car. As always, should you have any questions or comments please contact us.
