Hello Samurai_deli
I sold my car online and had an excellent experience! I believe you
can too, with some caveats in mind.
Online Selling Benefits
========================
?Selling your car online provides many unique benefits. These benefits
can help you generate qualified leads, sell your car faster and
facilitate an easier sale closing.?
http://siy.cars.com/siy/qsg/sellingBenefits.jsp;jsessionid=CJQZDVHORJBR1LAZGK3A5IY?aff=national
?The report shows that despite growing fears about identity theft and
online fraud, these crimes are more frequently committed offline than
online. Internet-related fraud problems are actually less severe, less
costly and not as widespread as previously thought.
Further, the study concludes that those who access accounts online can
provide earlier detection of crime than those who rely only upon
mailed monthly paper statements. By managing their financial
activities online, consumers can reduce access to personal information
on paper bills and statements that may be used to commit identity
theft and fraud.
Victims of identity theft who detected the crime by monitoring
accounts online experienced financial losses that were less than
one-eighth of those who detected the crime via paper statements.
(Average $551 in losses when detected online vs. average $4,543 when
detected from paper statements).?
http://www.tucsoncitizen.com/index.php?page=business&story_id=020405d1_bbbcolumn
Help Selling Your Car:
======================
Find information on:
·Dealing With Fraudulent Leads
·Meeting a Prospective Buyer for a Test Drive
·Securing Safe Payment
·Transferring Ownership
·Turning Over Your Car to the Buyer
http://siy.cars.com/siy/qsg/tipsClose.jsp?aff=national
Fraud Prevention Tips
======================
?Common-Sense Advice for Sellers
Selling a car online is a lot like advertising through a classified ad
in the newspaper. Use the same good judgment on AutoTrader.com.
Whether you're communicating with a buyer over the phone or via the
Internet, the following tips can help you protect yourself against
fraud so you can sell with confidence.
Confirm contact information. Before you turn over the keys, verify the
buyer's address and phone number. An email address is not enough. Be
particularly wary if the buyer is located overseas.
Secure payment first. Do not transfer the title until you have the
equivalent of cash at the agreed upon purchase price. Use caution if
the buyer proposes a complicated payment arrangement, such as a
payment process that involves multiple steps; receiving payment
through a friend or agent of the actual buyer; or receiving a check
for more than the purchase price and writing the buyer a check for the
difference.
Beware of counterfeit cashiers and certified checks. Before you
deposit a check into your account, ask the issuing bank to verify that
the check is genuine and that the account contains sufficient funds to
cover the check amount. Wait until the check clears before
transferring the title.
Consider reliable escrow services. For additional security, you may
choose to use a dependable escrow service. Shop carefully?there are an
increasing number of fake escrow services. Don't turn your money over
until you've fully checked the service out. And be sure you understand
all terms of the escrow arrangement. As previously mentioned,
AutoTrader.com does not endorse any escrow services.?
http://www.autotrader.com/research/shared/article.jsp?article_id=12125&refpage=buyingtips&restype=used
CollectorCar has these tips:
?Do not agree to accept any overpayment requiring a refund. A known
scam has the "buyer" sending you a counterfeit cashiers check or money
orders for more than your asking price, then asking you to "refund"
the overage (usually by Wire Transfer) before your bank discovers the
forgery. Use only respected and reputable escrow and shipping
companies. Traderonline and Trader Publishing Company suggests you use
a reputable escrow service such as Escrow.com to provide a secure way
to buy or sell your vehicle. If the buyer suggests an escrow service,
verify that it is a legitimate company. Be cautious with international
sellers, if a dispute arises in the transaction, United States laws
may not apply to the international seller.?
http://www.collectorcartraderonline.com/fraudtips.html
http://www.carbuyingtips.com/sellused.htm
Beware of counterfeit cashier?s checks:
?We?ve been receiving reports from the Community about a buying scam.
Some sellers of high priced goods are getting requests from bidders in
foreign countries (often in Africa) to accept foreign cashier?s checks
as payment for their items. Some of the requests offer to ?overpay?
for an item, and ask the seller to wire the overpayment back to the
buyer through services such as Western Union or MoneyGram. We urge all
sellers to use extreme caution when accepting foreign cashier?s checks
for high priced goods, as such foreign checks may take weeks or months
to clear and may be counterfeit.
Note: Some checks may appear to be from a US bank but, upon closer
inspection, include foreign country or city names.?
http://forums.ebay.com/db2/thread.jspa?forumID=107&threadID=410406893
Edmunds.com is a reliable and trustworthy car advice site. If you go
to this page, and enter your zip code, you?ll be taken to a second
page. At the bottom of the second page, is a link, called ?Common
Sense Advice for sellers?. Clicking that link will take you to a pop
up window with extra advice on fraud.
http://www.edmunds.com/apps/vdpcontainers/edmunds/used/atsyclanding.jsp?usein=u&rd_contractid=125&rd_link=6&rd_app=uvl&tid=edmunds..directoryalpha.directory..1.*
Edmunds also offers these car selling tips (Please visit the link for
full information)
1.Know the Market.
2. Price Your Car Competitively.
3. Give Your Car Curb Appeal.
4. Create Ads that Sell.
5. Advertise Your Car.
6. Showing Your Car.
7. Negotiate Your Best Price.
8. Handling Complications.
9. Finalize the Deal.
http://www.edmunds.com/advice/selling/articles/45786/article.html?tid=edmunds.a.advicelanding.selling..1.*
?Disclose Vehicle History
Show potential buyers you are trustworthy and put their mind at ease
by giving them a » Carfax Vehicle History Report on your vehicle.
Prove to them that you and your vehicle have nothing to hide!
Lemon Check
Determine if your car has a lemon classification. If it has favorable
ratings, then prove it to potential buyers. This service has become
the defacto standard in doing a quick check on a used car » Carfax
Lemon Check!
Closing The Sale
Write a receipt for you and your buyer with signatures on both copies.
Include a statement that the car is being bought "as is". Include all
pertinent info on the receipt so the terms of the deal cannot be
misinterpreted. Keep the receipt for your records. It will establish
the date of sale and help protect you from any future liability. Ask
them to make the transaction through a reputable third party escrow
service, perhaps an escrow account with a law firm of your choice or
www.escrow.com. Some Fraud sites often claim they are recommended by
eBay, eBay Motors, or Yahoo! Auctions. You may see the list of sites
eBay actually recommends by clicking here. Otherwise, accept only a
certified check or money order and then sign the title over to the
buyer. Check with your state?s DMV to ensure you?ve complied with all
the laws.?
?Certified Check Scams - This scam is often perpetrated on sellers of
used cars over the Internet thorough classified ads and auctions. A
buyer indicates that he wants to buy the car and pay with a cashier's
check. At the last minute, the buyer creates a reason why he needs to
write the check for more money and have the seller wire him the
difference. The check turns out to be a fake, but it is often
discovered long after the seller has wired the money. In addition, the
seller is responsible for covering the money for the fake check. To
avoid check scams, call the issuing bank before you accept the check
and wait for the check to clear before you transfer the car into the
buyer's name.
Bogus Escrow Services - Online vehicle sellers often use escrow
services, which collect and verify payment from a buyer. The money is
held by the service until all parties are satisfied with the sale.
There have been some instances of phony escrow services operating on
the Internet. Make the transaction through a reputable third party
escrow service, perhaps an escrow account with a law firm of your
choice or www.escrow.com. Some Fraud sites often claim they are
recommended by eBay, eBay Motors, or Yahoo! Auctions. You may see the
list of sites eBay actually recommends by clicking here. Make sure you
check out an escrow service with SOS4Auctions.com or escrowfraud.com.
They catalog the good and bad services.
The best way to avoid most scams is to make sure you never transfer
ownership of your vehicle until you have the cash in your hand. That
means, you either get cash from the buyer or wait for the cashier's
check to clear. Avoid buyers who will never meet you or never wish to
see the vehicle in person (overseas). Avoid taking personal checks and
allowing buyers to pay the car off over time. If buying, always verify
the seller actually has/owns the item for sale and meet them
face-to-face to view the vehicle . If you follow these few
precautions, your buying and selling experience should go smoothly.
More on scams and safety...?
(Some links on this page are broken)
http://usa.motoseller.com/consumers.php
eBay Escrow Services
http://pages.ebay.com/help/community/escrow.html
?Escrow Services We suggest using an escrow service when paying for
the vehicle. An escrow service provides protection for both buyer and
seller so the seller shouldn?t have a problem using this service. An
escrow service can hold your payment until you receive the car. We
recommend escrow.com as they are fully licensed and accredited. More
info (http://www.escrow.com)
As in all consumer transactions, there is no substitute for a healthy
skepticism and your own good judgment. Remember, if a deal seems too
good to be true then it probably is.
If you need to report fraud on the Internet there is an online
partnership between the FBI and the National White Collar Crime
Center.?
http://www.automotive.com/Buy_Used/Car_Buying_Tips/fraud-awareness.aspx
eBay Motors
============
http://motors.listings.ebay.com/_W0QQsocmdZListingCategoryList
When I reluctantly had to sell my Toyota, I went to eBay. Everything
worked well for me, thanks to eBay?s safety net, which works both
ways, for sellers and buyers. One still has to be cautious of course,
but this site has lots of useful information for avoiding scams, etc.
My buyer contacted me through email, we faxed documents back and
forth, and met in a restaurant. The cost of using eBay is based on
which of several methods you select, and the selling price of the car.
http://pages.motors.ebay.com/howto/selling.html
You can see other BMWs for sale on eBay Motors here. This will give
you a feel for the market.
http://search.ebay.com/search/search.dll?sofocus=bs&sbrftog=1&from=R10&catref=C6&satitle=1993+BMW+525i+&sacat=6000%26catref%3DC6&bs=Search&sargn=-1%26saslc%3D2&sadis=200&fpos=ZIP%2FPostal&ftrt=1&ftrv=1&saprclo=&saprchi=&fsop=1%26fsoo%3D1&coaction=compare&copagenum=1&coentrypage=search&fgtp=
?Why is eBay Motors safe?
In addition to the existing features and services already in place on
eBay to protect you (learn why eBay is safe), eBay Motors offers an
additional eBay Assurance Program for Vehicles. The program offers a
Short Term Service Agreement, Vehicle Purchase Protection, Vehicle
Inspection, Vehicle History Reports, and Payment Protection services
to build protection into every step of the vehicle buying or selling
process.
As with any transaction, you should always use common sense and be
aware of Safe Trading Tips -- Learn more about how to make sensible
trading choices on eBay:
http://pages.ebay.com/help/confidence/hub.html?
Read over eBay?s Market Safety Tips:
http://pages.ebay.com/securitycenter/mrkt_safety.html
Tips on selling your car on eBay
http://pages.motors.ebay.com/howto/passvehicles-selling.html
eBay?s Purchase Protection Plan:
http://pages.motors.ebay.com/help/community/purchase-protection-coverage.html
My car buyer sent his deposit through Pay Pal, which was automatically
put into my bank account. The rest he paid in cash when he flew in to
pick up the car.
https://www.paypal.com/cgi-bin/webscr?cmd=_pbp-info-outside
In case you don?t get paid, eBay has an Unpaid Item policy:
http://pages.ebay.com/help/tp/unpaid-item-process.html
Escrow Fraud on eBay a few years ago:
?Information posted on eBay's site recommends members use escrow for
transactions over $500 (
http://pages.ebay.com/help/community/escrow.html ) and promotes a site
called Escrow.com. On eBay Motors, we found a link to a page called
"Safe Buying Guide" (
http://pages.ebay.com/help/buyerguide/bidding-tips.html ), where it
also advises buyers to consider using an escrow service.
A visit to Escrow.com's home page has a large warning, "Fraud Watch,
Please Read." Clicking on the warning brings up a box warning people,
in part, "If you are not using escrow services at this URL, please be
careful. We are not affiliated with ANY other escrow sites no matter
what they may tell you.?
Pursglove suggested that eBay members selling high-priced items
consider using a service like Transrow. The service helps sellers set
up a bid verification process, in which auction bidders are required
to submit a drivers license and credit references in order to bid on
an auction.?
http://www.auctionbytes.com/cab/abn/y02/m10/i25/s01
Selling your car on eBay
?I'm apparently not the only risk-taker out there. The eBay Motors
site is on pace to reach $3 billion in sales this year, continuing a
dramatic rise from $750 million in auto-related sales for eBay in 1998
before it spun those items into the auto-specific area. The eBay
Motors area launched in April 2000, and current sales activity ranks
the site among the largest U.S. marketplaces.
Meg Whitman, eBay chief executive officer, earlier this year told the
business press that a sports-utility vehicle sells on the site every
21 minutes. Auto sales started on eBay with collectible cars selling
side by side with Matchbox cars and other auto-related memorabilia.
Autos and accessories ? the majority of them daily drivers like the
Volvo I sought ? now represent 20 percent of eBay gross merchandise
sales. I'm like 70 percent of eBay Motors auto buyers who cross state
lines to buy. According to eBay stats, the most popular cars sold on
the site are Ford Taurus, BMW 3 Series and Honda Civic.?
?"You and me all of our lives go to a car lot and play this stupid
game," he explained. "What will you give? What will you take? We've
all been there. On eBay, finally, if somebody's got a no-reserve
auction, they don't have to give none of that bull. [The buyers] are
going to have the final say and nobody is arguing with them."
Unlike many eBay sellers who set a minimum opening bid or a reserve
price, Liggan sets no reserve for any of his auctions. The high bidder
gets the car. Period. Following eBay rules, he occasionally cancels an
auction before it's over because there's little bidding action, but he
usually follows through regardless of whether he turns a profit.?
http://www.edmunds.com/advice/selling/articles/74786/article.html?tid=edmunds.a.advicelanding.selling..2.*
Other Online Car Dealers
==========================
Cars.com
http://www.cars.com/go/index.jsp
AutoTrader
http://www.autotrader.com/research/shared/article.jsp?article_id=12125&refpage=buyingtips&restype=used
Car Trader
?Sell Your Car Fast for only $25!?
http://www.carsdirect.com/sell_cars/home
CarsDirect
http://www.carsdirect.com/home
CarMax
http://www.carmax.com/
Craigslist (Free)
http://www.usatoday.com/tech/webguide/internetlife/2004-09-28-craigslist_x.htm
Click on your city and sell your car for free here:
http://boston.craigslist.org/
Other tips and fraud alert sites
================================
Selling Online Tips:
http://www.pennzoil.com/fix/carcare/selling_your_car_online.html
http://www.samarins.com/sale/
http://www.msnbc.msn.com/id/3078739/
http://www.edmunds.com/advice/selling/articles/93820/page001.html
http://www.hotautodeal.com/schema/faq.asp
http://www.consumerwebwatch.org/dynamic/e-commerce-investigation-lets-not-make-a-deal.cfm
http://forums.ebay.ca/thread.jspa?threadID=100013448&tstart=0&mod=1112404549780
Report fraud:
http://www.fraud.org/
http://www.pacecu.org/pages/identity.html
I hope this has helped you out. Good luck selling your car. Please
request an Answer Clarification, before rating, if any part of my
answer is unclear.
Regards, Crabcakes
Search Terms
============
sell car online + theft + fraud
selling cars online + fraud
selling my car online + fraud
Craigslist
Online car dealers |
