The internet is a great tool to use for people searching for anything. Sites like E-bay and Craigslist have opened up new avenues for advertising for goods the world over. That doesn’t mean it’s been a completely good thing for the consumer. World-wide access has lead scam artists a new way of trying to con people in ways they never knew existed. There’s plenty of scams to be on the look-out for and this is just another to keep in mind if you’re having credit issues and are looking for an auto loan.
The Internet Crimes Complaint Center, which is the partnership between the FBI and the National White Collar Crime Center, has a report on what is a common occurrence should you try to go online for an auto purchase. Here’s the breakdown of what happens:
You find a nice car in your price range online and message the buyer that you’re ready to buy. What you don’t know is that the person on the other end has made up this vehicle out of thin air. The fraudster has constructed an elaborate lie with details and pictures lifted from legitimate websites. When they hook in a buyer, they will then proceed to let them know that the vehicle is overseas. The next step is to ask the victim to send a deposit via wire transfer to initiate the shipping process.
It doesn’t end there. The fraudster will message the victim back and inform them of an issue with the transfer. A cashier check is sent to the victim with the instruction to cash the check and resend a second wire transfer to a different account. The victim, unaware that the check is counterfeit, has now been double duped by this scam tactic.
It’s scary how resourceful perpetrators are of US banking laws and know how to perfectly manipulate the average consumer. That’s why it’s so important for buyers to know what they are getting into. Education and being cautious is the only deterrent to scam-artist on the internet. If you’re in the situation where you’ve been denied an auto loan and the internet seems like the only way you’re going to get a car, still be careful. When dealing with faceless people, you can’t ever be careful enough.
Avoid the scam artist by dealing with credible dealerships. At Bayside Chrysler Jeep Dodge, we hate to turn people away. We love to say yes. Stop on by and see how we can help you purchase the vehicle you need. Like us on Facebook and follow us on Twitter for more tips and news.