The HEAT auto theft prevention program has some tips for used car buyers with approved auto loans
Our take
Credit-challenged customers should be aware of the chances of fraud when buying a used car through an online source such as Craigslist.com.
We know because we’ve been involved with bad credit auto sales since early in the last decade here at Auto Credit Express. We even built our web site so that applicants with bad credit can learn about issues such as tote the note dealers, poor credit car loans and credit scores as well as today’s topic, how to avoid online used car fraud.
Online used car fraud
With the holidays upon us, it’s time to take a look at some tips from H.E.A.T. (Help Eliminate Auto Thefts), an organization in Michigan that works with law enforcement agencies to follow-up on auto theft-related tips.
“Online used car shopping, particularly on unsupervised sites like Craigslist, is a prime breeding ground for criminal activity, especially the selling of stolen vehicles,” said Terri Miller, director of H.E.A.T.
“Despite the increase in fraudulent activities, there remain plenty of honest drivers looking to buy or sell a pre-owned vehicle online,” continued Miller. “H.E.A.T. wants to remind Michigan consumers to take extra precaution and due diligence to ensure that you’re dealing with one of the good guys.”
Some Tips
Meet at the S.O.S. – As either the buyer or seller, insist that you meet your other party to conduct the deal at a Secretary of State office during normal business hours. It is a safe, neutral location and allows for the completion of the deal (title transfer) to be conducted at the point-of-sale. Any reputable seller or buyer should take no issue with this request. If the other party in your deal has an excuse as to why he/she can’t oblige this request, that should set off a red flag immediately and you may want to cut your losses before it’s too late.
Triple-check the VIN – As a buyer, before handing over any money, be certain to closely inspect the Vehicle Identification Number on the seller’s paperwork and in two locations on the vehicle – both the dashboard and the inside panel of the driver’s door. If the three VIN numbers are not identical, it’s likely you are about to purchase a stolen vehicle that has been re-tagged. Report the seller immediately to local police and the H.E.A.T. confidential tip line.
Get Guaranteed Payment – As a seller, insist that the buyer provide a bank-issued certified check when purchasing your vehicle. Fake cashier’s checks and money orders are common, and there is no guarantee that a personal check actually comes with the necessary funds to back it up. Again, any well-intentioned buyer should have no issue with this request. If he or she does, take it as a warning and walk away from the deal before you’re left with no vehicle and no pay off.
The Bottom Line
Despite the fact that practically all lenders offering poor credit car loans work only through franchised new car dealers, even bad credit customers should be aware of the possibility of online fraud.
Here’s another tip: Auto Credit Express is in business to help people with bad car credit find a dealer for their best chance at an approval for terrible credit auto loans.
So if you’re serious about getting your auto credit back on track, you can begin by filling out our online auto loans application.
Our take
Credit-challenged customers should be aware of the chances of fraud when buying a used car through an online source such as Craigslist.com.
We know because we’ve been involved with bad credit auto sales since early in the last decade here at Auto Credit Express. We even built our web site so that applicants with bad credit can learn about issues such as tote the note dealers, poor credit car loans and credit scores as well as today’s topic, how to avoid online used car fraud.
Online used car fraud
With the holidays upon us, it’s time to take a look at some tips from H.E.A.T. (Help Eliminate Auto Thefts), an organization in Michigan that works with law enforcement agencies to follow-up on auto theft-related tips.
“Online used car shopping, particularly on unsupervised sites like Craigslist, is a prime breeding ground for criminal activity, especially the selling of stolen vehicles,” said Terri Miller, director of H.E.A.T.
“Despite the increase in fraudulent activities, there remain plenty of honest drivers looking to buy or sell a pre-owned vehicle online,” continued Miller. “H.E.A.T. wants to remind Michigan consumers to take extra precaution and due diligence to ensure that you’re dealing with one of the good guys.”
Some Tips
Meet at the S.O.S. – As either the buyer or seller, insist that you meet your other party to conduct the deal at a Secretary of State office during normal business hours. It is a safe, neutral location and allows for the completion of the deal (title transfer) to be conducted at the point-of-sale. Any reputable seller or buyer should take no issue with this request. If the other party in your deal has an excuse as to why he/she can’t oblige this request, that should set off a red flag immediately and you may want to cut your losses before it’s too late.
Triple-check the VIN – As a buyer, before handing over any money, be certain to closely inspect the Vehicle Identification Number on the seller’s paperwork and in two locations on the vehicle – both the dashboard and the inside panel of the driver’s door. If the three VIN numbers are not identical, it’s likely you are about to purchase a stolen vehicle that has been re-tagged. Report the seller immediately to local police and the H.E.A.T. confidential tip line.
Get Guaranteed Payment – As a seller, insist that the buyer provide a bank-issued certified check when purchasing your vehicle. Fake cashier’s checks and money orders are common, and there is no guarantee that a personal check actually comes with the necessary funds to back it up. Again, any well-intentioned buyer should have no issue with this request. If he or she does, take it as a warning and walk away from the deal before you’re left with no vehicle and no pay off.
The Bottom Line
Despite the fact that practically all lenders offering poor credit car loans work only through franchised new car dealers, even bad credit customers should be aware of the possibility of online fraud.
Here’s another tip: Auto Credit Express is in business to help people with bad car credit find a dealer for their best chance at an approval for terrible credit auto loans.
So if you’re serious about getting your auto credit back on track, you can begin by filling out our online auto loans application.
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