Cactus Village Community

For Sale By Owner Car Scam ..By Bill Chester Bank One-Carefree

Jul 08, 2003

A new way to separate you from your vehicle involves the sale of vehicles by their owner. You advertise it for sale and someone calls to see it, comes out and wants to purchase it. The price is agreed upon and the buyer goes and comes back with a Cashiers Check. You deposit the check and 4-5 days later it comes back as counterfeit.
By this time the vehicle has probably been re-registered and it may have been resold. Depending upon your insurance company, you may or may not be covered for the loss.

Following are some clues to watch out for:
1. They ask if you owe anything on it(they don?’t want to go to the Bank where they might be asked to show ID)
2. They don?’t want you to go with them to get the check.
3. They don?’t want their name on the back of the title where there is a place for the buyer?’s information. They will offer .a legitimate sounding reason.

Some suggestions to protect yourself:

1. Ask them for identification when they come over (drivers license)
2. Meet them at the Bank (have the title notarized there)
3. Write (in ink) the buyers information on the back of the title.
4. If they bring you a check, call the Bank to verify it.
5. Prepare a separate Bill-of-Sale on the purchase.
6. Get form from Motor Vehicle Dept. that tells them its been sold (in case they don?’t re-register it).
7. Don?’t allow anyone in your home (Police suggestion)?…☺