How To Sell a Car Ontario: Scams
How To Sell a Car Ontario: Scams: You are trying to sell a car and first email you receive, someone is willing to pay above your asking price. Is your car special? Nope, just someone trying to scam you.
Scams are rampant stealing from people who want to sell a car privately in Ontario. They find new ways to rip off unsuspecting sellers of their money. There are several types of scams, from very simple to over complicated ones.
How To Sell a Car Ontario: Scams
One of most common scam is “Shipping method”, targeting people trying to sell a car privately. People advertising online to sell a car will receive an email and a fair offer (usually equal or above asking price), with one small problem. Person interested in buying your car lives in another country, is a soldier stationed somewhere, or a businessmen overseas…
They will ask you to ship your car to them and will send a check which includes car value plus extra funds for shipping fees. Say, asking price is $10,000. They will send a check for $12,000 and ask for remaining $2,000 sent to a shipping company. Checks will look legit and are well falsified.
Unfortunately this “shipping company” accepts only Western union or Money gram cash transfers and will ask for a cash transfer. People will deposit their $12,000 check and send $2,000 to “shipping company”. Usually, people have a good relationship with their bank and check will clear right away on trust basis.
Days or even weeks later after bank verification, check will bounce. Meanwhile, 2,000 of real dollars was already sent to a “shipping company”.
Scams When Selling A Car Ontario
You will get a call from a company “which helps people sell their car”, for a fee of course. They will tell you sale is guaranteed and they have a buyer ready for your full asking price but you need to pay their fee first.
It usually hovers anywhere between $500 to $1,000. Sellers which falls for it, will send the money using credit cards, checks or cash transfers via Western union or Money Gram. They will lose that money.
Sell a Car Ontario: Scams—Fake Bank Drafts. Receiving a fake bank draft which will look as good as original. By the time your bank figures out is fake, money and car will be long gone.
Only way to ensure you don’t fall prey to these scammers when selling a car is asking to meet in person and even better, meet at their bank for payment and verify payment is real.
Curbsiding can be considered another type of scam and is dangerous to private sellers not familiar with it. Details on Curbsiding and Curbsiders.
(If you are looking for a fast and safe solution to sell your car, more here on “How to Sell Your Car Fast” in Ontario)
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