Buying or selling a car is a serious job. You put a lot of hard earned money on the line, and the process takes time. And it’s true. Not every car owner is a car expert. The car market is huge and, thus, a feeding frenzy for Avoid car selling scams and shady businesses.
So, when getting rid of an unwanted car, how to avoid car selling scams and frauds in Sydney? The prospect that you could lose your car to a fraudulent buyer is terrible, understandably.
We have done some thorough research on common scams. Just follow our tips and be confident when selling a used car in Sydney.
How To Spot Car Selling Scams
Not only can car buyers fall victim to a scam, but car sellers can also face this situation. So, when you are looking to sell a car, watch out for these red flags:
Suspicious Car Buyers
How and why people can commit fraud when purchasing a car from you. The truth is that true scams in buying a used car are rare. Yes, it can be difficult to deal with buyers, which becomes a headache in doing business. But there is a difference.
A fraudulent or malicious car buyer means you will get quite a low amount for what your car is actually worth or, in the worst cases, not a penny for your car.
Troublesome car sales, however, just means that doing business with potential buyers is difficult. But you should always be on the lookout for any warning signs or red flags when dealing with car selling or buying. That way, you can avoid being legally or financially exposed.
Sight Unseen Buying Offer
After you list your unwanted car, you may get quick responses from buyers that will offer to buy the vehicle without asking to inspect the car. The reason they give for this can be that they are buying the car for someone from a different state or the buyer is living offshore.
It may seem like a comfortable deal from the face value, but this can be a red flag for falling prey to a bigger scam later. The car buyer will promise to wire your agreed money, send a bad cheque, or say that someone will pick up the car on their behalf.
A popular scam, you get a cheque with a shipping fee extra amount from the car buyer. You make the shipping payment and send them the car but don’t get the cheque they promised.
Another fraud that happens in the same way, is through Paypal. The scammer will show you a Paypal email account. The account will be disguised in a way that you will accept it as legitimate from a company such as Paypal.
You may not yet have sent the car, but you may already have paid the alleged shipping fee and get to know later that the transaction was fake. These are scam payment methods.
In rare cases, the scammer may say that someone owes them money, and that person will pay the debt to you instead of them. You find out later that it was all a scam.
The simplest rule to follow is never to agree to something too good to be true. If you want to sell your car safely, we offer cash for cars Sydney in a secure way.
Tips To Avoid Scams When Selling Your Car
When you sell or buy a car in the online market or otherwise, you should tread with caution. You can protect yourself by following the tips recommended by our experts:
Never rush a transaction
Scammers try to rush you to make a transaction and force you to make a decision quickly without a proper thought process. Do your due diligence and make sure it’s legitimate before making a decision.
Do a PPSR check
If you are buying a car, do a personal property securities register check to see if the car has been written off or stolen in the past. Checking the vehicle history report is important in car deals.
Accept bank transfer or cash only
It’s always the best idea to go for cash payment when selling a car. However, if the amount exceeds $2k, then accepting a cheque is better. You can meet with the buyer with your family member accompanying and ask them to cash their cheque and make it a cheque made out to you. Do not accept credit card payments unless you’re sure.
A buyer asking for a test drive is ok
If a buyer wants to take your car for a short test drive, you should go with them. Overall, you should be more concerned about the buyers not asking for test drives.
Choose a trusted company
Choose a reliable and legitimate used car buyer Sydney if you want to sell your car online without hassle. Read online reviews to make a decision.
Document everything properly
When selling or buying a car online or in a private sale, document every detail. Pen down the buyer or seller’s information and a written car sale receipt. Make sure that the title has been transferred to the new owner’s name. Car wreckers Sydney offers free paperwork so that you can relax.
Meet The Buyer In Person
Do not finalize any deal on phone calls or emails. Instead, first, meet the buyer in person to establish trust.
Sell Your Car for Cash Avoiding Any Scam
Even if you’re unsure how to avoid car selling scams in Sydney, our team can help. Any questions you may have after reading this blog, leave a comment, and we will get back to you.