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    Headline:    

    Scams to Avoid When Selling a Car

    Reading time:    

    1 minute, 29 seconds

    Language:    

    en

    Main keyword:    

    car

    Sub keyword:    

    sell

    Topics of your individual article:    

    F8F8F8

    Summary:    

    • while it isn't always the case, a common scam is to pay the seller with a check or money order that's fake.
    • Another overpayment scam involves the promise to wire additional funds or send a larger check to pay for the cost to ship.
    • Since you aren't a finance company and have no way to collect if a buyer misses or stops payments, it's best to avoid these offers.

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    Paying with checks or money orders. while it isn't always the case, a common scam is to pay the seller with a check or money order that's fake. If you sign the title over before the money clears, the car isn't yours anymore, and you're left having basically given the car away for free. Overpayment. In this case, a buyer will tell you that someone else owes him or her money that is more than the cost of your car. He or she will ask for the car and promise payment from the other individual. Another overpayment scam involves the promise to wire additional funds or send a larger check to pay for the cost to ship. The buyer will send a fraudulent check and ask you to deposit it. If you ship the vehicle before it clears, you're in for a headache—locating and retrieving a vehicle that has already been shipped is both costly and time consuming, especially if it's out of the country. Payment plans. A promise to make monthly payments is usually not a good way to go. Since you aren't a finance company and have no way to collect if a buyer misses or stops payments, it's best to avoid these offers. Escrow services. In this situation, the buyer will use an unknown escrow service to complete the transaction. It will seem secure, but once you've given them the signed title, the money will no longer be available. AN escrow service is a third party that is used in high-value purchases to maintain accountability during the transaction. An illegitimate escrow can be used as a scam tactic. Asking for personal information. Some buyers may promise to wire money to obtain personal information, such as:Social Security numbers. Bank account information. Credit card numbers.
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    Scams to Avoid When Selling a Car
    Source: https://upload.wikimedia.org/wikipedia/commons/thumb/a/ac/Strati_overall.jpg/1200px-Strati_overall.jpg

    Article Text Video:    
    Article Word Cloud:    

    car, sell, word tag cloud, wort und tag wolke

    Thematically relevant search terms or keywords:    

    • Advertise
    • Deutschland
    • France
    • ItYourself
    • Kingdom
    • United

    Artikel Text in English:

    Paying with checks or money orders. While it isn't always the case, a common scam is to pay the seller with a check or money order that's fake. If you sign the title over before the money clears, the car isn't yours anymore, and you're left having basically given the car away for free. Overpayment. In this case, a buyer will tell you that someone else owes him or her money that is more than the cost of your car. He or she will ask for the car and promise payment from the other individual. Another overpayment scam involves the promise to wire additional funds or send a larger check to pay for the cost to ship. The buyer will send a fraudulent check and ask you to deposit it. If you ship the vehicle before it clears, you're in for a headache—locating and retrieving a vehicle that has already been shipped is both costly and time consuming, especially if it's out of the country. Payment plans. A promise to make monthly payments is usually not a good way to go. Since you aren't a finance company and have no way to collect if a buyer misses or stops payments, it's best to avoid these offers. Escrow services. In this situation, the buyer will use an unknown escrow service to complete the transaction. It will seem secure, but once you've given them the signed title, the money will no longer be available. An escrow service is a third party that is used in high-value purchases to maintain accountability during the transaction. An illegitimate escrow can be used as a scam tactic. Asking for personal information. Some buyers may promise to wire money to obtain personal information, such as: Social Security numbers. Bank account information. Credit card numbers.



    Source of Article:    

    https://www.dmv.org/buy-sell/selling-your-car/scams-to-avoid.php

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