Shopping for a used automotive has by no means been so fraught with hazard, so Metro Financial institution has provide you with some important recommendation.
September sees an inflow of secondhand automotive scams as roughly one million drivers take possession of their new 73-plate automobiles and commerce of their present automobiles, which suggests extra used automobiles than regular hit the market.
Scammers capitalise on this seasonal inflow in automotive gross sales by providing the perfect deal, when in actuality, the automobile is unlikely to even exist. These offers are sometimes marketed by way of on-line public sale websites akin to eBay and Gumtree or by way of social media, the place photos are taken from real sellers to persuade consumers that they’ve the automobile.
“Automobiles are usually folks’s second largest asset after their houses, so it’s very important to decelerate and take your time when researching and buying to make sure you aren’t being scammed,” advises Metro Financial institution’s Head of Fraud & Investigations, Baz Thompson.
“Scammers know that used automotive gross sales rocket when the brand new licence plate comes out, so be additional cautious presently of 12 months.”
Generally criminals could use cloned web sites with slight modifications to the URL to trick drivers into pondering they’re buying from a real web site. For any driver seeking to lease/finance a automobile, there may be additionally a threat with this methodology. Criminals can seem like a be a leasing or finance firm to encourage you to pay a deposit, which you’ll by no means obtain a automobile for.
Find out how to spot secondhand automotive scams
- Autos significantly cheaper than market common, costs are too good to be true – you’ll be able to examine the going market fee on www.webuyanycar.com or www.parkers.co.uk.
- Vendor requesting funds by way of financial institution switch.
- Web site you’re getting the automobile from has lately been launched.
- Social media posts/adverts.
- Anybody contacting you out of the blue or approaching you with a ‘deal’.
- Being instructed the automobile might be shipped to you, and you’ll return if dissatisfied.
- Being pressured in to creating a fast choice.
- When leasing/financing – there are not any credit score/affordability checks accomplished.
- Provided no or extraordinarily low deposit choices.
Find out how to shield your self towards automotive scammers
- Request to see the automobile in particular person if potential, if not potential prepare a video name and solely ship a deposit if you’re completely sure it’s real.
- Ask for particulars concerning the automotive such because the automobile identification quantity (VIN) and examine this data matches the V5 doc.
- All the time get a full automobile historical past examine for peace of thoughts (though this doesn’t all the time make sure the automobile is being bought genuinely).
- Examine sellers/firm’s impartial opinions.
- Our recommendation is to keep away from making any funds forward of seeing the automotive, however if you’re sure the vendor / seller is real solely make funds by way of safe on-line cost platforms and don’t come away from platform as there could also be no safety off platform.
- Supply to pay a small deposit after getting seen the automotive and the remaining steadiness on supply.
- Guarantee any emails/contact you obtain referring to the acquisition/lease of a automotive are from the real service provider.
- Look out for format and grammatical errors/modifications in touch.
