ALT-1 How to Find a Buyer for your used Car
One of the easiest ways to sell a used car is through one or more of the many Internet-based services. Some of the best, such as Craigslist.org, are free.
However, online used-car listing services are hangouts for perpetrators of a common scam that many sellers don't know about, even though it's been happening for years.
Here's how the used-car buyer scam works.
Let's assume you've listed a used car online and have posted a $6500 asking price.
You soon receive an email from what appears to be a potential buyer stating that he is an associate of a person in another country, his "client," who is interested in your car.
The "buyer" may ask a few questions about your car but soon indicates that his "client" is willing to buy the car for your full asking price, even though he's never seen your car and never driven it.
Furthermore, the "buyer" says that he'll send you a bank cashier's check for $10,000, which is $3500 more than your asking price.
He explains that the $3500 is for shipping (or some other semi-plausible reason) and that when you get the check and deposit it in your bank account, you should then send a personal check for $3500 to a "shipping agent" at another address.
You soon receive a very real-looking $10,000 cashier's check, as promised, which you promptly deposit in your bank account. Your bank accepts it and the $10,000 appears in your account a couple of days later, apparently having been cleared and accepted.
You write a check from your account, as instructed, for $3500 and send it to the address you were given earlier.
About a week later, your bank calls you with bad news. The cashier's check was counterfeit and worthless.
Your bank account is debited for $10,000. If you didn't have enough of your own money to cover the $3500 check you wrote, which has now been cashed, the bank will demand you repay them the money.
In any event, you are short $3500 that you will not be able to recover. The bank will be of no help to you and will take no responsibility.
Your attempts to find and punish the scammers by contacting the police, FTC, state Attorney General's office, Better Business Bureau, or other authorities will only lead to further frustration. The scammers know how to stay out of reach.
This is a common scam. It's been around for years. The details of how the scam works can vary, but its essential element is the counterfeit check for more than the amount of the purchase. That should raise suspicions but, more many sellers who are anxious to sell their old car, easily get caught.
