Author: Vladislav MoisejevUpdated Short answer: The main rule when selling a car: don’t hand over the car, keys or documents until the money is in your bank account. Check the payment in your own online bank, not on a screenshot from the buyer. Complete the ownership change in the Transport Administration e-service and sign a written sales contract. Never give anyone your Smart-ID or Mobile-ID PIN codes.
This article tells how scammers under the guise of car buyers deceive sellers. We analyze popular fraud schemes for sellers and help you learn how to protect yourself from fraud when selling a car.
The Internet is replete with announcements of urgent redemption: “We will buy a car in any condition at an expensive price”, and “Our prices are higher than those of competitors.” But who can be trusted and who is engaged in honest car buying in Tallinn? Here are a few examples of how scammers deceive gullible sellers.
During the sale of a car, every car enthusiast may encounter fraud. Quite often, endless calls about the fact that they are supposedly ready to buy a vehicle from you at a bargain price, or vice versa, imposing offers to sell a car cheaper often end in deception. There are several tips that you can follow to avoid this unpleasant situation.
Hidden commissions, profitable offers
Deception of a motorist takes place according to a carefully worked-out plan:
- A car owner places an advertisement for the sale of a car.
- He gets a call with a “good” sale offer.
- In addition, he is offered an additional condition – if the deal fails to complete, then they will be required to buy a car from the owner of the vehicle.
- Then there is a signing of an agreement on the transfer of the car.
It is from this moment that all the most interesting begins. Clients are not allowed to read the contract to the end, they are deliberately distracted and the documents are replaced. There is an imperceptible commission for services rendered. In case of refusal, the client will have to pay a fine. The amount that was originally announced becomes imaginary, and the client does not receive any benefit.
The car first, then the money
During the purchase and sale of a car, a frequent problem is precisely fraud, and most often it follows the same pattern:
- an advertisement for the sale is posted on the site;
- next, the owner of the car is called and offered to drive to the company’s office where they can discuss the conditions and agree on a good deal;
- the company buys the vehicle as a legal entity so that it can be resold further;
- funds are offered to be transferred by bank transfer, and for this, the details are taken from the seller;
- against receipt, the owner of the car gives them the car technical passport (and in the original), the keys;
- after that, he signs an agreement, which, as it were, gives a guarantee that until the funds are transferred, all responsibility for it lies with them;
- the contract for the sale of the car itself is proposed to be drawn up only after the vehicle has been sold;
after receiving the payment document, he is offered to check its authenticity in the bank. There, they will most likely tell him that nothing was issued and advise him to contact the police.
If you want to find an honest car-buying company in Estonia, contact the company Allcars, and here will help you and guarantee the safety and profitability of the transaction.
Frequently asked questions
How can I make sure the buyer really transferred the money?
Check the incoming payment in your own online bank. A screenshot, payment order or text message from the buyer doesn’t prove the money is in your account.
Is a cash deal safer?
Cash carries the risk of counterfeit notes. For a large amount, a bank transfer or checking the cash at a bank together with the buyer is safer.
What if the buyer asks for PIN codes or to log in through a bank link?
Stop the conversation. A real buyer doesn’t need your PIN codes or bank login, your account number is enough to send the money.
How do I complete the ownership change safely?
In the Transport Administration e-service, where both the seller and the buyer confirm the deal with their ID tools. That way the change is in the register right away and further obligations pass to the buyer.