When you are in the market for a car, there is nothing more appealing than the idea of getting cash for your old one. With the generally increasing cost of cars, it’s no wonder that people are jumping at the opportunity to sell their cars for cash, in exchange for a slightly better upgrade. However, there is also an increased risk in this transaction because you don’t know who you’re dealing with or if they’ll even pay what was agreed upon once your old vehicle has been sold. When looking into a cash for cars transaction, there are several things to consider to avoid being scammed.
The typical cash for cars scam begins when a seller finds an online ad for a buyer willing to purchase their car. The seller gets in touch with the buyer, who then requests pictures of the vehicle. Often, they’ll request to meet in person to take a look at the car and test drive it. At this point, they’ll usually ask to see the car’s title, which is when they’ll begin to concoct their plan. They might say something like, “I can only pay you $X for your car because I’m getting a great deal on a new one,” or “I’ll give you a check, but I need the title first.”
They may even try to get you to sign over the car before receiving any payment. In any case, if you’re not careful, you could end up without your car and without any money.
Avoid Cash for Cars Scams
To avoid cash for cars scams, remember these things:
- Only deal with reputable buyers. Do your research ahead of time to make sure you’re dealing with someone credible.
- Never give away your car title until you’ve received payment in full.
- If the buyer requests a test drive, always accompany them.
- Get an estimate for your car’s worth before agreeing to sell it for cash.
- If the buyer asks you to sign over your vehicle, call off the deal immediately.
- Be wary of any transactions that involve money wiring services or third-party payment websites.
- Take your time in making a decision. If the buyer seems too eager or if the deal sounds too good to be true, it probably is.
Among the tips mentioned above, doing business with reputable buyers is probably the most important. A reputable buyer won’t do anything shady, like try to take your car before paying for it or ask you to sign over the title. They’ll also give you an estimation of what they’d be willing to pay, as well as any other relevant information you need to make a decision.
AKR Towing Inc. is reputable cash for cars company offering free same-day pickup and fair prices. The process is straightforward: you request a quote, schedule the pickup, and get money for your junk car! If you accept the quote, they’ll come and pick up your vehicle for free. If not, there is no obligation to go through with it! You can always ask them about other options if selling isn’t right for you.