FBI Issues Warning to Online Car Buyers

August 17th, 2011
in econ_news

car sportsby The Political Commentator

Econintersect:  There is a 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:

Follow up:

  • 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 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 and The Political Commentator

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