The Internet has provided the public with a useful and convenient tool that makes it easier to do all manner of things than it used to be. One of these things, oddly enough, is the sale of motor vehicles. It seems strange that cars would sell well on the Web, as one would think that buyers would want to "kick the tires" before making a purchase. The success of eBay Motors, AutoTrader and other online sites devoted to the sale of motor vehicles would suggest otherwise, as business at those sites is thriving.
Consumers who wish to purchase a vehicle online should be aware of a popular scam perpetrated by crooks who wish to steal your money - the wire transfer scam. The seller offers a vehicle for sale that he or she doesn't really have; they often just post a stock photo or one they found somewhere. The sellers often indicate that they are located in Europe, and they insist on a wire transfer, such as Western Union, for payment. Once the buyer sends the money, the seller vanishes, never to be heard from again.
This scam has been going on for some time, and most of the online auto auction sites encourage their customers never to pay for a vehicle using a wire transfer, even if the seller promises to use escrow to ensure the safety of the transaction.
Here are a few tips for those people who are shopping for a vehicle online:
# Ask the seller if you can stop by and see the vehicle in person. Someone who doesn't actually have the vehicle in his or her possession will almost certainly refuse. Even if you have no intention of paying a visit, just asking to see it could be useful.
# Watch out for auctions that feature stock photos or photos from brochures. Anyone with a real car to sell should be able to take a picture of it.
# Beware of any seller who will only accept a wire transfer for payment.
# Beware of a seller who says the vehicle is in another country but offers to pay the shipping to the United States. This is a common ruse used by scammers in other countries.
# Watch out for a vehicle that is offered for sale at a price that seems too inexpensive for the model. A $25,000 car offered for $10,000 should set off bells in your head.
# If on eBay, check the seller's transaction history to see if they have a record of actually selling vehicles. Scammers sometimes hack into eBay user accounts and sell using the name of another, established user. If the seller is selling a Harley but has a history of only buying compact discs, watch out.
While buying a vehicle through online auction sites is a good way to purchase one, buyers should exercise the same cautions as when they buy anything else on the Internet. If you are buying an expensive item and you are not familiar with the seller, be careful.
Source : Arcog.com, Retro Marketing, Charles Essmeier
Wednesday, October 22, 2008
Sunday, October 5, 2008
How To Find Great Automobile Deals - A Short Car Auction Guide
Attending automobile auctions is a great way to find good deals on automobiles that have been seized by government entities if they were used in the commission of a crime or by private financial institutions if the original owner was not able to make all of the payments required.
Contrary to popular belief, attending car auctions is not a sure fire way to find a vast array of automobiles being sold at below value. On the contrary, most vehicles sold at car auctions tend to go for their approximate value. Nevertheless, with careful research and planning, it is possible to find cars at auction that sell below their blue book value.
Car auction attendees tend to fall into two categories. The first, and most common, is the interested novice who read about the auction in a newspaper or heard about it in a radio advertisement. Lured by the promise of below market automobile purchases, they head to the auction site unprepared and bid on any automobile that strikes their fancy. They typically either leave the auction empty handed or in an automobile that they paid far too much for.
The other type of auction attendee is the one who does his homework and takes advantage of opportunities to inspect the vehicles in the days leading up to the auction. This latter individual is much more likely to walk away from the auction either with a bargain or with nothing at all.
The most important thing to remember about car auctions is the following simple and often disappointing fact - the vast majority of cars sold at auction are sold at or above blue book value. This is surprising to hear since most television and radio advertisements for car auctions trumpet the vast savings that can be had.
Most people who attend car auctions are either used car vendors or savvy civilians. Most of them know exactly how much a car is worth, and many have deep pockets that can bid on all of the best deals. A few such individual can drive bids on all of the automobiles up to or beyond their actual value.
The only way to come out ahead in a car auction is to be smarter than the other bidders. Remember that many of the automobiles on the auction block have been flooded, wrecked, stolen, or may have been mistreated in a number of other ways.
Any reputable car auction will make all cars on the block available for inspection a few days before the auction. It is a good idea to run a title check on any automobile that you are interested in purchasing. While the auction is supposed to run title checks as well, they are not always entirely trust worthy.
The smart buyer will record then vehicle identification (VIN) number themselves and run a title check later, or phone the VIN to someone and have them run the check for them. They can get faster information this way and know quickly whether to pursue the car further or look elsewhere.
By the time the auction commences, it is important to know which cars the buyer is interested in and how much they are willing to pay. The worst mistake that can be made at this point is to get caught up in the emotional frenzy of bidding. If the price goes beyond what the buyer wishes to pay, then no more bids should be made.
Source : Arcog.com
Contrary to popular belief, attending car auctions is not a sure fire way to find a vast array of automobiles being sold at below value. On the contrary, most vehicles sold at car auctions tend to go for their approximate value. Nevertheless, with careful research and planning, it is possible to find cars at auction that sell below their blue book value.
Car auction attendees tend to fall into two categories. The first, and most common, is the interested novice who read about the auction in a newspaper or heard about it in a radio advertisement. Lured by the promise of below market automobile purchases, they head to the auction site unprepared and bid on any automobile that strikes their fancy. They typically either leave the auction empty handed or in an automobile that they paid far too much for.
The other type of auction attendee is the one who does his homework and takes advantage of opportunities to inspect the vehicles in the days leading up to the auction. This latter individual is much more likely to walk away from the auction either with a bargain or with nothing at all.
The most important thing to remember about car auctions is the following simple and often disappointing fact - the vast majority of cars sold at auction are sold at or above blue book value. This is surprising to hear since most television and radio advertisements for car auctions trumpet the vast savings that can be had.
Most people who attend car auctions are either used car vendors or savvy civilians. Most of them know exactly how much a car is worth, and many have deep pockets that can bid on all of the best deals. A few such individual can drive bids on all of the automobiles up to or beyond their actual value.
The only way to come out ahead in a car auction is to be smarter than the other bidders. Remember that many of the automobiles on the auction block have been flooded, wrecked, stolen, or may have been mistreated in a number of other ways.
Any reputable car auction will make all cars on the block available for inspection a few days before the auction. It is a good idea to run a title check on any automobile that you are interested in purchasing. While the auction is supposed to run title checks as well, they are not always entirely trust worthy.
The smart buyer will record then vehicle identification (VIN) number themselves and run a title check later, or phone the VIN to someone and have them run the check for them. They can get faster information this way and know quickly whether to pursue the car further or look elsewhere.
By the time the auction commences, it is important to know which cars the buyer is interested in and how much they are willing to pay. The worst mistake that can be made at this point is to get caught up in the emotional frenzy of bidding. If the price goes beyond what the buyer wishes to pay, then no more bids should be made.
Source : Arcog.com
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