Used cars may be cheaper than ordering a brand new vehicle but prospective buyers are urged to keep their eye out for car scammers who could rip off unsuspecting motorists. Sellers may deceive buyers by trying to hide issues or faults with a car or by setting costs higher than what the car is worth. Common scams include altering vehicle mileage to improve the value of a car or selling a vehicle with an existing finance agreement in place.
- How to get the best deal when selling a used car
Car clocking is when a vehicle’s overall mileage has been modified to increase the overall price.
Cars with lower mileage can sell for higher prices because buyers believe the car is in a better condition than it is.
An average car could see its price rise by up to £4,000 through car clocking alone in a major financial incentive for scammers.
Concerned motorists can check a car’s total mileage by searching for its MOT test history online before purchasing.
This can be found on the official DVSA website and simply accessed by searching for a car’s registration number. This mileage figure should then be compared to what the seller is offering to work out if they are broadly similar.
Motorists should also research how the average price of similar models under a certain mileage compares with the model to ensure overall charges are competitive.
Prospective buyers may accidentally purchase a car which has been cloned by criminals to avoid detection by police officers.
A cloned car is when a stolen vehicle has adopted the identity of a similar but has not been registered with the DVLA.
Cars sold while under finance
Used car sellers may sometimes sell their vehicles while they are still under finance agreements.
Cars cannot be sold while under a finance agreement as the vehicle is still technically owned by the insurance company and not the seller.
The leasing company has every right to claim their vehicle if they suspect this has happened which could leave the buyer out of pocket.
According to confused.com those who have a car under finance can get give the car back to the insurer and not make any additional payments under a voluntary termination clause as long as 50 percent has been paid back.
- Cars for sale will soon be purchased through online shopping websites
WhatCar? says motorists who accidentally purchase a car which is under finance should cooperate with the insurance company if they get in touch.
Innocent buyers should include details about when they purchased a car and include information such as your receipt and a link to the original advertisement.
Many used cars are sold through online marketplaces due to the simplicity for sellers and prospective buyers.
However, selling through online platforms does come with potentially dangerous risks and motorists are urged to take simple precautions to avoid being caught out.
Motorists should never pay for a car online without seeing the car first in real life to avoid being ripped off by scammers.
If money is transferred beforehand, sellers could deny they have been in contact with you or that they are even selling a car online.
This means prospective buyers could completely lose their money and not receive a vehicle.
Motorists should always make sure they see a vehicle in real life to guarantee the car is in an identical condition as it was originally advertised.
Road users should insist on seeing a car’s V5C registration document which contains information on the registered owner of the vehicle. /
Online car marketplace Cazoo says prospective buyers should always make sure they find out how many previous owners have had the car and whether it has been involved in any car crashes.
Source: Read Full Article