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How to avoid online car buying scams Advertiser Disclosure Advertiser Disclosure We are an independent, advertising-supported comparison service. Our goal is to help you make better financial choices by providing you with interactive financial calculators and tools that provide objective and original content. This allows you to conduct research and compare information at no cost to help you make informed financial decisions. Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. How We Make money The products that are advertised on this site come from companies that compensate us. This compensation could affect how and when products are featured on this site, including for instance, the sequence in which they appear in the listing categories in the event that they are not permitted by law. Our mortgage, home equity and other home lending products. However, this compensation will have no impact on the information we provide, or the reviews that you see on this site. We do not cover the entire universe of businesses or financial deals that could be accessible to you.



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5 minutes read. Published October 13, 2022
Authored by Rebecca Betterton Written by Auto Loans Reporter

Rebecca Betterton is the auto loans reporter for Bankrate. She specializes in assisting readers with the ways and pitfalls of borrowing money to purchase an automobile.







Editor: Rhys Subitch Edited by Auto loans editor

Rhys has been writing and editing for Bankrate from late 2021. They are passionate about helping readers gain the confidence to control their finances through providing clear, well-researched information that breaks down otherwise complex subjects into digestible pieces.









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Making a purchase from the convenience of your home by just a few clicks is a great option, but it also brings some risk. As with most of the online world there are scams that have slipped into the online world. Be aware of common cons to avoid losing money in the process of getting a new vehicle. Common online car buying scams These are the scams FTC (Federal Trade Commission) has for online car sales --but there are several common scams to look out for when . Identity theft Scammers do not just want to con the victim out of their funds, but also to gather your personal information. They'll ask for details such as your Social Security number, birthdate or bank account numbers. Don't share your personal information with potential buyers, excluding your name and phone number. If you do apply for a position , ensure that it is licensed, legitimate and has a good reputation. In other cases, it might be better to apply for a outside of the dealershipor visit a place where you can confirm whether the vendor is above board. False advertisements When searching for an auction, you may see ads that do not include the VIN or vehicle identification number. If you are not able to confirm that the vehicle is actually present -- that is, see it in person and confirm that the VIN is accurate Don't pay. It's not uncommon for fraudsters to advertise vehicles in ads without actually having the vehicle. If the vehicle exists, confirm that it's not listed as stolen and that it has a clean history report. The Curbstoning scam occurs when a dealer pretends to be private sellers with the intention of selling a vehicle that doesn't comply with the normal regulations of dealers -- meaning it has salvaged titles or is damaged. A salvaged title will cause major headaches when it concerns insuring the vehicle. You can avoid this fraud by staying away from cars that are sold online on vacant lots, on the side of the road or at the seller's home. As with all private sales, make sure you check that the seller and VIN are authentic before you agree to buy. Buy sight unseen. Never sign a contract to buy a car without seeing it. It is not only advisable to take your potential car for a test drive purchase it sight unseen, but it could mean that the vehicle might not look like the pictures or worse -- not exist in any way. If the seller pressures you or entices you to complete a fast purchase before you inspect the vehicle in person, it's probably a fraud. Ask for wire transfers or credit card gift cards If the prospective seller requests wire transfer in exchange for car payment, do not accept it. This is a technique used by scammers to take your money , but with no guarantee of a vehicle. Wired money isn't trackable and is very difficult to retrieve. This means you could be left with no vehicle and no chance of a refund. Similar to scammers that want to make payments via wire transfer, some sellers may ask for gift cards for the payment. Don't be fooled. Gift cards are not traceable and means that the seller is probably trying to scam you. Title washing Title washing is a strategy to conceal damage caused by a wreck, or other problems in the vehicle's past. Even if you have to pay for it yourself Always get a vehicle history report for the VIN. This isn't guaranteed to provide you with all the details the car has experienced but it can assist you in avoiding falling victim to scammers seeking to sell a risky vehicle. Fake escrow account While this scam can take place in two ways, you should be conscious of the need for a fake escrow account when you purchase a vehicle online. Using an escrow account is an authentic method of keeping both parties safe from fraud. But, scammers could use an escrow account that is fake to trick you into depositing money directly into the seller's account. When the time comes to take the vehicle and to transfer the title the seller is no longer in contact with you -- and you are stuck with no option to recover your money. Do you think online car purchasing is an excellent idea? If you choose to use a legitimate service, then buying a car on the internet is just as safe as an auto dealership. Even if you use an individual seller, don't let the chance of a scam affecting your purchase deter you from buying. If you are a savvy buyer, you will have a lower chance of be fooled and will be more likely to leave happy with your vehicle purchase. Benefits of online car buying If you are aware of the are the most common scams and you are able to find a legitimate source, buying a car online is a good idea for many reasons. It is primarily about saving time. You don't have to visit several dealerships and have to deal with physically browsing inventory on many. Online shopping gives you unlimited options for shopping. As you're not limited to the options in a store, you may be able to find a more precise fit for your requirements. There's no pressure to sell because, in the end, you'll be browsing through websites via your computer or phone and not exposing yourself to professional salespeople. If you choose to go with a brand like Carvana or Vroom You'll have access to delivery across the country. There could be a modest cost, but if you locate the perfect car, it could be worth it. There are some disadvantages to buying cars online. Apart from the scams, there are a few reasons people still choose traditional dealers: Big online dealers do not allow for bargaining. You will be able to bargain with a private seller, though you will be at risk of being victimized by fraud. Some lenders will not provide financing for private sales when you are looking online. In the event that they offer it, you could find that the rates are higher than the purchase of a used or new vehicle loan. It is possible that you won't be able to do an inspection in person until you meet with the seller or arrange for the car to be delivered. Also, it could be more difficult 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've been a victim of an online fraud, there are a few steps you should take. Make a formal complaint directly to the center for fraud. Contact your state attorney general. File with the FBI's . The FBI will report the fraud to the . It could take a long time or be impossible obtain your refund if you transferred it through a wire transfer or handed over gift cards. However, keep track of the transactions you made with your bank when you have entered any data on a fake website. If you spot any suspicious transactions, inform your bank about the fraud and change any usernames or passwords associated with the account. The bottom line: If you think a deal on a car is too good to be true, it probably is. Buying a car online can be a perfectly safe way to purchase a second-hand car. However, you must keep an eye out for frauds that are common and trust your instincts. If something seems off, it probably is. At time's end, there are plenty of used vehicles on the market. You can always leave a deal and find another, more legitimate seller on reliable websites or just opt for a used car dealership. Learn more


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Authored by Auto Loans Reporter

Rebecca Betterton is the auto loans reporter for Bankrate. She is a specialist in helping readers to navigate the ways and pitfalls 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 from late 2021. They are passionate about helping readers gain the confidence to take control of their finances by providing concise, well-researched, and clear information that breaks down otherwise complicated topics into bite-sized pieces.






Auto loans editor




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