Sell your car – What are the risks?

Are you looking to sell your car? Maybe you’re thinking about doing it privately, but it could be riskier than you think. As a seller, you can come into potential threats from time wasters and scammers. ‘Buyers’ can even pose a threat to your personal safety. Selling your car privately can cost you unnecessary time and effort, and possibly result in no sale!

Non-serious buyers

Receiving inquiries from people who aren’t interested in buying your vehicle can lose you valuable time, and your last nerve. Especially when you could be meeting with serious buyers. Some people want to see how much you’ll drop the price. Others want to see if they’ll get a great deal at your expense. You may think that it won’t happen to you, but thousands of private sellers fall victim of time wasters.

Personal safety risk

Some people are more interested in your personal information than the details of the car. These people are likely to be scammers. Sadly, it’s now easier than ever to gather people’s personal information, especially if you’re selling through social media. If you’ve taken pictures of the car using your phone and uploaded to social media, you could be linking a ‘geotag’ directing someone to your home address. This could happen without you even realising, and pose potential danger.

Fake payments

It may seem that cash payments are the easiest and safest form of payment, but there is always the potential for notes to be fake. Receiving cash directly might seem simple, but it can pose more threat to theft than any other transaction. Although more rare now, cheque payments are still used, but they can often bounce after you’ve handed over the vehicle. Fake online payments are also on the rise with scammers getting increasingly sophisticated, resulting in failed payments.

Fraud claims against you

After enduring the hassle of selling your car, you can still be caught out. If a buyer is unsatisfied with your car for whatever reason, they can file a claim against you. Things such as missing information on transfer paperwork, and not adhering to selling regulations can leave you in hot water.

Don’t worry, there are other options out there for you. Many dealers offer Brokerage systems where the dealer will sell your car on your behalf, and get you the safest and best deal possible.

View the Brokerage service that Junction 17 can provide for you!