If you want to shop for a new or used vehicle via [edited by administrator], it would make sense to acquaint yourself with the top 10 methods to avoid online scams. Of course, not all online auction sites like Yahoo Auctions and Ebay will lead you into a financial quagmire if you try to buy a auto at auction. These retailers have security protocols in place to protect consumers from fraud, but no means of online fraud protection is impregnable. To best protect yourself, you should use common techniques like these. Then all you will have to concern yourself with is what auto loans for people with bad credit or other finance option you'll use.

These are top 10 methods to stay away from online scams at auction

Special thanks to those at Edmunds for bringing these top 10 ways to keep away from online scams to light. Here are the highlights you should know:There are no magic deals online. Online auto auctions certainly will present their share of good deals, but it's important not to let it go to your head. If a brand new BMW auction screams steal at $ 10,000, you should know it probably is a steal: the auctioneer wants to steal all of your money and either not deliver or perform a bait and switch.Call the seller. Ask if you can inspect the auto before finalizing the purchase. You also will need a clean title from them.If paying via escrow, is it licensed? Do what you have to do to feel comfortable including talking to a representative of the escrow business and checking the website. Don’t just settle for a link the seller gives you.Do not give any sensitive financial or personal data like Social security number, credit card number, account with your bank info, etc. until you are certain the escrow business is trustworthy.If the seller insists on one escrow business, beware. They may be trying to exploit you.Send your escrow question from e-mail. Don’t purchase if there is no response.Look very closely at the escrow website. You are able to take sloppy grammar as a red flag. Use a duplicate content sniffer like Article Checker to see whether their content is simply copied from a legitimate escrow site.You should be sending money to a business, not an individual. In case you are being asked to Western Union money right away or are feeling pressured to sign up for an escrow account, there is likely something wrong.Verify endorsements on the escrow. Whether it is the Better Business Bureau or something even something like the Internet Fraud Complaint Center, if the escrow's site makes any kind of endorsement claim, follow up.Don’t use escrow web sites listed as .biz, .cc, .info, .us, or .org.

Be safe whenever you buy at auto at online auction

When using sites such as eBay or Yahoo, use their resources for education and assistance if you’ve been scammed. Whether within the market for a BMW or auto loan, before doing online transactions, Car Deal Expert suggest doing research

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ulfwolf's picture
ulfwolf 9 years 40 weeks ago

Great post.

Perhaps I can just add to this that the best way to guard against being ripped off by online sales or auctions of any kind, Craigslist and eBay included—and whether seller or buyer—is to use a *bona fide* online escrow company. Especially for pricier items like antiques, jewelry and autos. Although it does add some cost, it takes the uncertainty out of the transaction, and that’s a small price to pay for peace of mind.

For my money, the best bona fide online escrow (and there seems to be ten fraudulent escrow sites for every bona fide one) is probably Escrow.com (http://escrow.com). In fact, it’s the only one that eBay recommends, and is the only online escrow company that is licensed to provide escrow services all across the United States.

Take care,

Ulf Wolf

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