TOP 10 scams in buying and selling used cars
We all know that scams purge online, and much more if it is expensive items. Imagine that you have your car for sale and suddenly one day you contact a foreigner who is interested. What would you think? Would you have doubts as to whether it is really going to pay you or not?Today we are going to tell you the most common scams in the purchase / sale of used vehicles so that you do not “sell the bike” if some day you face a similar situation.
TOP 1. The English scam
It is the best known scam on the internet. It is a purchase or sale in which the buyer is outside of Spain. A person of foreign nationality, a priori, interested in your car, only contacts you via email , tells you that he cannot travel to your country and that he wants to close the deal as soon as possible. Send you a check with a higher amount of money than you agreed, and after a few days, write to tell you to send the difference by Western Union or by any means. You, as an honest person, you pay and this person disappears. Days later you discover that it was a bottomless check!
Top 2. The false bank transfer
You have your car for sale and one day you receive an email from the buyer with the confirmation of the bank transfer. But, beware, if it is Bank of Essex Bank, totally suspicious, it is false. The money will never reach you and what is worse, the scammer will enjoy the car you have given him! For more details about car accessories click on jeep wrangler car cover waterproof.
TOP 3. The figure of the intermediary
A person supplants the identity of several web pages and acts as an intermediary between buyer and seller, or contacts directly with you on behalf of a company telling you that he will mediate between them in order to make a secure transaction. All he wants is for you to pay him and then disappear with the money.
TOP 4. Stolen vehicle
If you find a car with a very attractive price (well below market) and you buy it, probably weeks later the police notify you that the vehicle has been stolen and they have to proceed to immobilize it until a judge indicates it. If this happens to you, you will be left without a car and without the money you paid for it.
TOP 5. The signal
We are all fed up of seeing on different websites advertisements for used cars. But these draw attention, have the perfect hook: very low prices and very requested models. The seller asks you for an advance on the reservation of the vehicle, once you have made the payment, you will never hear anything from him, the car or your money. Normally these scammers usually reside outside of Spain and it is very difficult to detect them.
TOP 6. Falsification of documentation
You put your car for sale, and a supposed buyer asks you to send a photocopy of the vehicle’s documentation by email to verify that all the data is correct. As you think it is normal, you agree and the fraudster begins his wrongdoing. Use all your data to appropriate other cars, to cover the theft of others and for all types of scams. Keep in mind that your data is in the network, and it is very difficult to prevent it from spreading.
TOP 7. The odometer scam
As we already tell you in the odometer manipulated , you should set your eyes on the wear and tear of the parts, the invoices that the seller has given you and in the maintenance book, which is where the actual kilometers of the car appear. It is very common to falsify the kms, since it is a way to sell it at a much higher price.
TOP 8. Credit default
The scammer buys a vehicle, finances it and sells it before 24 hours. When the new buyer tries to register it at the Traffic Headquarters, it is impossible, since that vehicle has a reservation of title with a pending debt. The scammer flees with the money and stops paying the credit.
TOP 9. Black money
If you sell your high-end car and the buyer offers you a good amount of money on hand and the other party enters it into the bank, pay special attention to those tickets, they could be fake! The scammers know that you, for fear of a fine, will not report them, and they will enjoy a luxury car for much less money than it really is worth.
TOP 10. Sale of a non-existent car
They are individuals or even professionals who put ads for the sale of cars on different web pages, and when you contact them the first thing they ask you is an amount of money in advance to reserve the car. Of course the car does not even exist, they just want your money.Now that you know some of the possible scams that are committed daily, we hope you do not fall into any.If something similar has happened to you or to any friend, we invite you to tell us. Leave us your comment and thus we will help other people ” walk with lead feet ” in situations like these.
Purchase sale of cars between individuals 100% safe
The buying and selling of cars between individuals is a difficult world. If you are looking for a car right now and you want to buy it from a private individual, I’m sure you understand me.Today I am going to tell you a real case of a person who has done it .This person exists and you will know them, her name is Marian .She bought her current car online , to an individual and being in another city different from his own .I know you do not believe me, but you can continue reading for yourself and check it out.
Private second-hand cars
The market for used cars in Spain is huge. Specifically, it is estimated from the beginning of the year data that 2 times more used cars are sold than new cars.If you are reading this article surely you have already decided to buy a second hand car, but you still have an important doubt. Did I buy it from a private person at a sale?This is a very recurring question in recent years, and even more in a time of crisis in which acquiring a new car (financed or not) is a real chimera.
But how exactly is the price difference?
VAT vs. ITP: As a general rule, a professional will have to pass on 21% VAT to the price of the vehicle. On the other hand, the purchase and sale between individuals is subject to the Patrimonial Transfer Tax (ITP), which goes to 8%. [ A difference of 13% ]
COMMISSION: A car sales professional has a business, is dedicated to that, and a business involves numerous expenses. C uota Social Security / self-employed, current supplies , personnel , advertising and marketing , tax and accounting obligations … The sale needs to pay your bills! And how do you pay for them? Obviously applying a commission to the final price (your expenses + benefits).