Monday, August 15, 2011

PSA: FBI warning to online car buyers

Public service announcement from the FBI if you are going to buy a car on the Internet

Caveat Emptor!

Automotive shoppers should exercise due diligence before engaging in transactions to purchase vehicles advertised online. In particular, shoppers should be cautious of the following situations:

Sellers who want to move the transaction from one platform to another (for example, from Craigslist to eBay Motors).

Sellers who claim that a buyer protection program offered by a major Internet company covers an auto transaction conducted outside that company’s site.

Sellers who push for speedy completion of the transaction and request payments via quick wire transfer payment systems.

Sellers who refuse to meet in person, or refuse to allow the buyer to physically inspect the vehicle before the purchase.

Transactions in which the seller and vehicle are in different locations. Criminals often claim to have been transferred for work reasons, deployed by the military, or moved because of a family circumstance, and could not take the vehicle with them.

Vehicles advertised at well below their market value. Remember, if it looks too good to be true, it probably is.

Source: FBI

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