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Home >> Scams/Fraud
Buying a Car Long Distance
What is a safe way to purchase a car from across the country? I hate to just write a check prior to receiving the vehicle, and the price is too large for a credit card. How can I pay for it, but hold the funds until the vehicle arrives? Obviously, both parties need some assurance. I don't believe Paypal is an option.
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 There are many scams set up just like this that are intended to do nothing more than separate you from your money.
eBay, as an example, has escrow services available and some companies are acting independently doing this. They establish a set of conditions for payment. They receive and hold your money until you accept the merchandise. Then they pay the seller. The seller knows the money is there and you know the car has been received and is what was promised.
Be aware that there would be a fee for this, and in some cases, the seller recommends the escrow company and it turns out that company is part of the scam, so your assurance of getting the merchandise after the company receives your payment is gone. Another option is to go and make the purchase, inspect the merchandise, do the title work and pay with cash, a wire, cashier's check, etc.
Published on BankingQuestions.com 9/17/09
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