Tips to Prevent Used Car Fraud
Buyer (or Seller) Beware
Consumers become vulnerable to fraud every time they sell a used
vehicle on their own, or buy one from an individual. Here are some safety
tips to protect both the buyer and sell from fraudulent behavior.
Tips to avoid becoming a victim:
- Avoid selling a vehicle on Friday evening. Because banks are
closed on the weekend, Friday transactions give the thief time to make a getaway
before you get a chance to go to the bank and attempt to cash his or her check.
- Get two forms of identification. Just because the buyer has a
certified check, it doesn’t mean it’s valid. Call the issuing bank to verify.
- Obtain contact information. Ask for a home or work phone number,
along with the address of the purchaser, before handing over the title. Be wary
if they only use a cell phone.
- Be skeptical of bargain prices. If you find a vehicle listed
under what it’s worth, approach with healthy skepticism and research the history
of the vehicle.
- Beware of out-of-state transactions. Never walk away without a
title. Completing the transaction at a Secretary of State during office hours
can help reduce the possibility of fraud because they can immediately verify
license and title information for legitimacy.
REMEMBER, IF YOU HAVE INFORMATION ABOUT AUTO THIEVES,
By protecting your vehicle and being alert,
you can be part of the solution,
and you can save money on your insurance