Selling A Car On Craigslist? Watch Out For This New Scam - The Car Connection
It's also very popular with people selling cars. If you're one of them, watch out for a new scam that could defraud you of your vehicle, leaving you with nothing but a sense of regret and perhaps a lingering auto loan. As scams go, it's not very complicated. The forgeries have been good enough to dupe nearly 100 sellers in recent months (and their title transfer agents). Those folks have signed over their vehicles to the duplicitous buyers, watched them drive away, then tried to cash the checks, only to discover that they're fakes. Someone takes a fake check for a car. CHECK OUT: Hyundai Tucson Vs. Nissan Rogue: Compare Cars. The forgeries are very, very good. They're likely the work of one sprawling, well-coordinated team of ne'er-do-wells. The scam is focused on specific states. In some states, lenders retain the title to a vehicle until the car loan is paid off. That means that fewer people have titles on hand -- a major problem for car thieves who want documentation for their booty. This scam, however, centers on states where drivers receive titles to their vehicles before they finish paying off their loans, making it much easier for. Source: www.thecarconnection.com
