by 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:
- 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 and The Political Commentator
