You may have recently received a warning about vehicle scams from your bank. These scams try to lure you in by offering up a vehicle at hugely discounted prices.
As you might imagine there is no vehicle for sale but scammers will try to get you to pay a deposit or even the full price of the advertised vehicle in order to secure your purchase.
“It is important that consumers exercise extreme caution when engaging with unknown individuals online and use whatever means at their disposal to verify the details of the seller and the vehicle being sold. Buying a car is a serious financial commitment and is a process that shouldn’t be rushed,” explains managing director of SearchWorks, Sameer Kumandan.
SearchWorks operates a vehicle search website called SearchShop. This digital storefront includes vehicle reports which includes the make and model of the vehicle, the motor plan, service history, fitted extras and more. This allows you to sidestep fraudsters and scammers as they need a vehicle and the corresponding information associated with that vehicle in order to list it.
“The best defence against a scam is an informed consumer. By obtaining an up-to-date vehicle report, potential buyers can fact-check all information provided by the seller. The information can also assist the buyer in spotting a suspicious deal and avoid falling victim to criminals,” the MD explains.
However, you may not always be using SearchShop because a good deal can be found in a variety of storefronts or digital showrooms.
With that in mind, Kumandan shared a few ways you can protect yourself from scammers.
Profile a seller as much as possible before engaging with them. If the same names and photos appear on multiple platforms, it’s best to stay away.
Be wary of vehicles being sold for way below market value for similar makes and models. If it sounds too good to be true, it usually is.
Being pushed into making an immediate payment is a red flag you shouldn’t ignore. Remember that you have the right to walk away should you feel pressured or uncertain about a vehicle.
If you suspect fraud, or if someone is attempting to gain unauthorised access to your personal banking information, contact your bank and nearest police station as soon as possible.
Where possible it’s recommended that you make use of trusted dealerships as they are accountable in terms of legislation and may even offer you a refreshed service plan or other optional extras
Be safe out their folks, scammers are smart and will stop at nothing to take your money from you.
[Image – CC 0 Pixabay]
