Are you in the process of buying or selling your vehicle? Then this blog is just for you.
There are a few concepts you should know about the auto industry to avoid being scammed or absorbed into fraudulent activities. Let’s get into a few tips and tricks to save you!
Are you purchasing a vehicle online, but the offer sounds too good to be true? Well, more than likely, it is! If a seller is marketing a vehicle with incredibly low mileage or cheap insurance, be very cautious about settling on this offer. Ensure that you get as much information as possible before moving forward with any agreements.
Stay updated with news on social media, television and other news sites about the industry. If any scams or fraud are occurring, you should be in-the-know.
Always check the car’s market value before engaging with the seller. This could prevent you from paying too much, and aid in identifying when a price might be “too good to be true” which might mean that you need to do further inquiries.
ALWAYS use a traceable payment method when you’re in the process of closing on a purchase! This serves as a proof of purchase, and protects you legally if there are any issues with the vehicle in the future.
Beware of the “dirty oil” trick. The process of selling a used car can be tiresome and stressful. Some buyers can add to this stress by attempting to con sellers into lowering their price via the “dirty oil” trick. One potential buyer may distract the owner while the other pours oil into the coolant reservoir. During the test drive, this will cause the engine to smoke, and create an illusion of a faulty engine on the seller’s side. The potential buyer may then request a further discount on the vehicle which may put the seller in an uncomfortable position.
Do not fall for any of these gimmicks. Use our tips and make smart choices when selling or buying a vehicle! All the best!