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Classic Car Sale scam: protecting Yourself When Selling Out โof State
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Selling a beloved classic carโฃ can be bittersweet, especially when finding a โbuyer from a distance. Though, a recent surge in scams targeting sellers has โฃprompted warningsโ about fraudulent transactions, especially those involving checks. โคThe core issue: scammers exploit the trust associated with seemingly legitimate โขpayment โmethods to steal vehicles.
The Rising Threat of Car Sale Scams
Many individuals are now listing โvehicles online, expanding their โฃpotential buyer pool nationally. This increased reach, while beneficial, also opens the door to sophisticated scams. Scammers often pose as eager buyers willing to โpay a premium, but their methods are designed to โฃultimately leave you without yourโ car and your money.
did โคYou Know? Vehicle fraud is consistently ranked among theโ top scams reported โขto the Federal Trade Commission (FTC).
How the โคscam Works
The typicalโ scenario involves โan out-of-state buyer offering to purchase a classic car. they send a check – often for more than the agreed-upon price – and request that the โคseller cash it immediately.โ The buyer then explains theโข overpayment is to cover shipping costs. Once the check โขclears (or appears to), the buyer arranges for a third-party transport company to pick up the โคvehicle. however, the check is ultimately fraudulent, and the seller is responsible for the full โฃamount, including the “shipping” funds they sent to the โคscammer.
Once the check clears, the buyer will send a trailer โto pick up the car.
โค – Quentin Fottrell, 2025-11-10 11:30:00
Key Red Flags toโ Watch For
Identifying potential scams requiresโ vigilance. Be wary โof these common indicators:
| Red Flag | Action |
|---|---|
| Overpayment | Reject immediately |
| Urgency | Slow down the process |
| Third-Party Transport | Verify independently |
| out-of-State Buyer | increased caution needed |
| Unusual Payment Method | Demand secure options |
Protecting Yourself During a Car Sale
Several steps can substantially reduce your โrisk of falling victim to a car saleโค scam:
- Verify the โคCheck: Do not rely solely on your bank’s initial clearance.โ Contact the issuing bank directly to confirm the funds are available and legitimate.
- Secure Payment Methods: Insist on a secure payment method like a cashier’s check verified by the bank, a wire transfer (though theseโข can also be reversedโข by scammers, soโฃ proceedโ with caution), or cash in person.
- Independent Transport: If shipping is necessary,โ arrange the transport yourself thru a โreputable company you’ve researched.โ Do not use aโ transport company recommended by theโข buyer.
- Delay Release of Vehicle: โฃ โ Do not release the vehicle until you are absolutely certain the funds are secure and verified.
Pro Tip: Alwaysโฃ meet the buyer in a safe, public location – preferably at your bank – for the transaction.
Timeline of a Typical Scam
Understanding the scam’s progression can help you identify and avoid it:
- Buyerโค contacts seller with an offer.
- Buyer sends a check for more โขthan the agreed โขprice.
- Seller cashes the check and sends back the โoverpayment for “shipping.”
- Buyer arranges for a third-party transport company.
- The โขcheck bounces, leaving the seller liable for the funds.
- The vehicle is transported, and the seller is left with a financial loss.
federal Trade Commission: “Beโฃ wary of buyers who offer to pay with a cashier’s check or official check, โคand thenโค ask you to send them back the difference.”
The FTC provides