How to lose 20 000 selling your car on-line
Below is a MRR and PLR article in category Vehicles -> subcategory Cars.
How to Lose $20,000 Selling Your Car Online
Summary
Selling your car online presents great opportunities, but beware?"some so-called buyers are out to scam you and drain your finances.
Essential Tips to Avoid Scams
Selling your car online can seem straightforward with potential buyers emailing their interest. However, many of these buyers may have schemes to exploit you financially. Here’s how to protect yourself:
Key Rules to Follow
1. Accept Payment for the Exact Sale Amount: Do not agree to any payment exceeding the car's price.
2. Verify Every Check or Money Order: Assume all are invalid until proven otherwise.
3. Don’t Trust a Payment Just Because You Received Cash: Your bank might give you cash immediately, but forged checks can bounce later.
4. A Stranger's Problem Is Not Yours to Solve: Avoid dealing with others’ payment issues or shipping arrangements.
Scams to Watch Out For
Let’s examine two fraudulent emails I received while selling my car online. I listed the car at an above-market price, believing no one would take notice, but scammers were quick to respond.
Scam Example 1
In this email, the buyer listed a U.S. address and phone number, but the IP address was from outside the U.S.
Email from "James Thomas":
```
HELLO,
INQUIRY ON YOUR CAR, PLEASE GET BACK TO ME WITH YOUR ROCK BOTTOM ASKING PRICE AND THE PICTURES IF THE CAR IS STILL AVAILABLE.
HAVE A NICE DAY,
JAMES THOMAS
```
I replied with an exaggerated name and price. He didn't ask about the car's details, suggesting a mass email approach. Here’s his response:
```
HELLO,
THANKS FOR YOUR URGENT RESPONSE. I ACCEPT THE PRICE. HOWEVER, A FRIEND OWES ME, AND HE WILL SEND A CASHIER'S CHECK IN EXCESS OF THE AGREED AMOUNT. I NEED YOU TO SEND THE EXTRA TO THE PICK-UP AGENT FOR SHIPPING. PLEASE PROVIDE YOUR NAME, ADDRESS, AND PHONE NUMBER.
THANKS AND GOD BLESS,
JAMES THOMAS
```
Following through would break all safety rules and lead to financial loss. The cashier's check would later prove forged, leaving my bank account deeply negative.
Scam Example 2
Without interest in the car’s specifics, here’s another email, likely part of a shipping scam:
Email from "Mark":
```
Hello,
my client is interested in your car.. if it is still available please contact me. you will receive a payable check in U.S. Hope to read from you soon.
Regards,
mark
```
This approach avoids legal terms but promises shipment, adding unnecessary complexity and risk.
Recap of Safe Practices
1. Exact Payment Only: Genuine buyers won't overpay. Always transact in cash or through verified local bank checks.
2. Verify Payment Sources: The FDIC reports frequent forgeries. Directly confirm check validity at the issuing bank.
3. Don’t Trust Immediate Bank Clearances: U.S. laws require banks to clear cashier’s checks quickly, but they may bounce weeks later. Protect yourself by verifying payment sources meticulously.
4. Maintain Boundaries: Scammers invent stories requiring you to assist them. You’re selling a car, not solving financial dilemmas.
Avoid entangling yourself in shipping arrangements or accepting excess payments. Genuine buyers will understand straightforward business practices.
Conclusion
Remember, no legitimate buyer will pay extra unnecessarily. Keep transactions simple and local. If selling to a non-local buyer, use secure services like escrow. Your goal is a safe, straightforward sale.
You can find the original non-AI version of this article here: How to lose 20 000 selling your car on-line.
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