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How to avoid online car buying scams Advertiser Disclosure Advertiser Disclosure We are an independent, advertising-supported comparison service. Our mission is to help you make better financial decisions by providing you with interactive financial calculators and tools as well as publishing unique and impartial content, by enabling you to conduct your own research and compare data for free - so that you can make informed financial decisions. Bankrate has agreements with issuers such as, but not restricted to, American Express, Bank of America, Capital One, Chase, Citi and Discover. How We Make Money The offers that appear on this website are provided by companies who pay us. This compensation may impact how and when products are featured on the site, such as such things as the order in which they be listed within the categories of listing and other categories, unless prohibited by law. This applies to our mortgage or home equity products, as well as other home loan products. However, this compensation will have no impact on the content we publish or the reviews you see on this site. We do not include the vast array of companies or financial offerings that could be available to you.



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5 minutes read. 13 October 2022.
Writen by Rebecca Betterton Written by Auto Loans Reporter

Rebecca Betterton is the auto loans reporter for Bankrate. She has a specialization in helping readers to navigate the details of using loans to buy the car they want.







The edit was done by Rhys Subitch Edited by Auto loans editor

Rhys has been editing and writing for Bankrate since the end of 2021. They are passionate about helping readers gain confidence to manage their finances by providing concise, well-studied and well-researched content that break down complex topics into manageable bites.









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The ability to purchase a car from the at-home comforts of your sofa just a couple of clicks can be a good thing, but it also brings some risk. Similar to the rest of the online world frauds have made their way into the space. Beware of common scams so you don't lose money in the process of getting a new vehicle. Most common scams when buying a car online These are the scams FTC (Federal Trade Commission) provides guidelines for online vehicle sales. However, there are a few typical scams to watch out for when . Identity theft Scammers are not only looking to con the victim out of their money but also looking for your personal details. They'll ask for details such as you Social Security number, birthdate or bank account numbers. Do not share any personal details with prospective sellers, other than your name and number. If you do apply for a position , ensure that it is authentic, licensed and has positive reviews. Otherwise, it may be better to apply for a outside of the dealership -- or go somewhere you can confirm whether the vendor is above board. Fake ads When you are searching for a private sale You may come across ads that do not include the VIN or vehicle identification number. If you are not able to confirm that the vehicle exists -- in other words, you can see the vehicle in person, and be sure that the VIN is correct -- don't send money. It is not uncommon for scammers to show vehicles in advertisements but not have the vehicle. And even if the vehicle exists, confirm that it is not reported as stolen and it is clean on its history report. The scam of "curbstoning" occurs where a dealer claims to be private sellers with the intention of selling a vehicle that doesn't comply with the normal regulations of dealers -- meaning it has a salvaged title or is otherwise damaged. A salvaged title can be a major problem when it concerns insuring the vehicle. You can avoid this scam by staying away from online auctions of vehicles that are located on vacant lots or on the side of the road or even at the seller's home. And as with every private auction, make sure you check that the seller and VIN are legitimate before you agree to buy. Buy sight unseen. Never sign a contract to purchase a vehicle without seeing it. Not only is it best to take the car you are considering to a test drive purchasing it without seeing it could mean that the car may not be as pictured or, even worse, may not exist at all. If the seller rushes you or encourages you to make a speedy deal before you have a chance to view the car in person, it's likely to be a fraud. Demand a wire transfer or credit card gift cards If the potential seller asks for a wire transfer for the car payment, do not accept it. This is a typical technique used by scammers to steal your money and offer no vehicle in return. Wired money isn't trackable and extremely difficult to trace. This means you may be left without a car , and there is no possibility of reimbursement. Similar to scammers that want to make payments via wire transfer, some sellers may ask for gift cards to pay. Beware, and walk away. Gift cards cannot be traced and mean the seller is probably trying to make money off you. Title washing Title washing is an attempt to cover up damage caused by the wreck or other issues with the car's history. Even if you have to pay for it, always get a vehicle history report to the VIN. It's not sure if it will reveal everything the car has gone through but it can assist you in avoiding falling victim to a fraudster trying to sell you a dangerous vehicle. Fake escrow account While this scam can take place in two ways, you should be aware of the use of a fake escrow account when buying a car online. Escrow accounts are legitimate method to keep both parties protected from fraud. However, scammers may use a fake escrow account to convince you to deposit money directly into the seller's account. When it's time to collect the car and transfer the title, the seller has stopped being accessible to contact -- and you are left with no way to retrieve your money. Are online car purchases a good idea? If you use an authentic service, buying a car online is exactly as secure as buying from the dealership. If you choose to go with a private seller, don't let the chance of scams happening discourage you from buying. Being a well-informed consumer You'll more likely not be duped and more likely to drive away happy with your vehicle purchase. Benefits of purchasing a car online If you know what frauds to avoid and go through a legitimate source, buying a vehicle online has its benefits. It is primarily about saving time. You don't need to go to numerous dealerships and spend time physically browsing inventory on a lot. Online shopping gives you unlimited options for shopping. Since you aren't limited to the selection at a dealership it is possible to find a more precise suitable match to your needs. No sales pressure -- in the end, you'll be browsing websites on your smartphone or laptop, not subjecting yourself to professional salespeople. If you decide to purchase something like Carvana or Vroom and you'll be able to access to delivery across the country. There could be a modest fee, but if you get the right car it may be worth it. Drawbacks of online car buying Apart from the scams, there are number of reasons why people choose traditional dealers: Big online sources don't mean that there is no negotiation. You will be able to bargain with a private seller but you'll be at risk of being caught in a scam. The lenders may not be able to offer financing for a private sale while you're looking on the internet. If they do, you might discover that the interest rates are higher than with a new or used car loan. You may not be able to conduct an inspection in person until you talk to the seller or arrange for the car to be delivered. It could be even harder to get a mechanic to inspect it when you are shopping on the internet. What do you do if been victimized If you believe you have fallen victim to an online fraud, there are a few actions you need to follow. File a complaint directly with Fraud Center. Contact your state attorney general. Report the fraud to the FBI . Report the fraud to the . It may take a long time or be impossible receive your money back if you sent it through a wire transfer or exchanged gift cards. Be aware of the transactions you made with your bank when you have entered any data on an illegitimate website. If you notice any activity, contact your bank regarding the fraudulent activity and reset any usernames or passwords connected to the account. The bottom line: If a car deal sounds too appealing to be true the likelihood is that it is. A car purchase online can be a perfectly safe way to purchase a second-hand car. However, you must be aware of frauds that are common and trust your instincts. If something seems off, it probably is. In all times, there are plenty of used vehicles on the market. You are able to opt to walk away from a deal and look for a authentic seller via trusted websites -- or go with a used car dealership. Find out more


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Writen by Auto Loans Reporter

Rebecca Betterton is the auto loans reporter for Bankrate. She has a specialization in helping readers with the details of using loans to buy a car.



Editor: Rhys Subitch Edited by Auto loans editor

Rhys has been editing and writing for Bankrate from late 2021. They are enthusiastic about helping readers gain the confidence to control their finances by providing clear, well-researched data that cuts complicated topics into bite-sized pieces.






Auto loans editor




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