Common-Sense Advice for Buyers
Buying a car you find online is a lot like buying a car through a classified ad in the newspaper. When you purchase a car using ChevyClassifieds.com, use the same good judgment as you would if you were looking in the newspaper classifieds. Whether you’re communicating with the seller over the phone or via the Internet, the following tips can help you protect yourself against fraud so you can buy with confidence.
Inspect the car. You should verify the condition of the car before you buy. Schedule an inspection with a professional mechanic.Though an inspection isn't a warranty and there's no guarantee that all existing defects will be found, a qualified mechanic can help you identify and avoid problems.
Obtain a vehicle history report. Depending on the provider, a vehicle history report can offer useful information about the vehicle's history, such as title information, whether it has been salvaged, damaged or reported stolen and if it is classified as a lemon.
Confirm contact information. Before you send payment, know how to contact the seller if you need to. Verify the seller’s address and phone number—an email address is not enough. If the seller’s address doesn’t match the address on the title, be sure you know why. And be particularly careful if the buyer is located overseas.
Get a detailed receipt. Ask the seller for a detailed receipt that states whether the vehicle is being sold with a warranty or "as is." Know what's required in your state to transfer the car’s title from seller to buyer.
Consider escrow services. For additional comfort, you may prefer using a reliable escrow service. An escrow service can hold your payment until you receive the car. Shop carefully and choose an escrow service that is fully licensed and accredited. Don’t turn your money over until you’ve fully checked it out. Additionally, make sure you understand all terms of the escrow arrangement.
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," it probably is.
Additional Resources:
http://www.ftc.gov/bcp/conline/edcams/automobiles/index.html
http://www.ftc.gov/bcp/conline/pubs/online/auctions.htm#Online%20Escrow%20Services
http://www.fdic.gov/consumers/consumer/news/cnspr03/index.html