What Can I Do to Avoid a Scam in Selling Vehicle Online?
Selling Vehicle Online: Selling your vehicle at a good price could be a difficult and time taking task. Thanks to the advancement and engagement in social media marketplaces, anyone can buy or sell their vehicle online. With the rise of usage of social media for selling things, the online scams that took place have also risen. Despite these scams, the online buying and selling of vehicles is too attractive and helpful to ignore. Here are some of the advantages of selling your vehicle online:
What Can I Do to Avoid a Scam in Selling Vehicle Online?
- Quick process:
Buying and selling a vehicle online can be a matter of days or even a day if you find the deal attractive. - You can get more money:
you can demand any money that you want for your vehicle from your buyer. You can contact him directly and tell him why your vehicle is worth this much. This lets you decide one to one with the buyer.
While selling or buying a vehicle online is risky, you can use some preventive measures to ensure that you are not being scammed. Here is an easy 4 step process that you can implement to reduce the probability of being scammed.
- Check and verify your buyer on the national records:
No person will want to buy your vehicle without having checked it thoroughly. If some person does not check your vehicle, you must decline him as there could be something fishy. The best way to see if the buyer is legitimate is to verify his personal documents such as his driver license or the insurance card. This will also give you their DL for emergency situations. - Accompany the buyer on test drive:
While it is highly unlikely once you have taken their information, you must go with the buyer on the test drive. This also lets you tell the advantages and benefits of buying your vehicle, as they are driving it. - The transaction for your vehicle must be made at bank:
You should request the buyer to make himself available at the bank to keep yourself safe from transactional scams. Most of the scams take place through fake cashiers and checks. You must verify the bank account of the buyer if he/she is willing to pay you through a personal check. This will let you ensure that they have funds available in account and that their check is not bad. - Bill of sale and release of liability:
The above mentioned two documents are very important. Filling out a bill of sale binds both you and the buyer to a contract. It also documents the transfer of title. While release of liability ensures that any violation that takes place afterwards is not your responsibility.
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