Selling a Car? Watch For A New Telemarketing Scam

The scenario: You want to sell your car without any hassles for a fair price. So you place an ad on a community website hoping for a quick sale. Shortly thereafter, you get a call from what sounds like an auto company. For a fee, the company promises to put you in touch with a buyer. If your car isn’t sold, they promise to refund your money. So you go ahead and pay the fee, and wait for the company to present a buyer for your car.

The catch? According to a recent case settled by the FTC, the auto company’s claims are false. There are no buyers, and there is no refund. It’s just another scam designed to bilk consumers.  

Steer clear of telemarketing scams related to selling a car by following these tips:

  • Resist making an immediate decision when someone cold calls you in response to an ad you placed. Scam telemarketers are likely to use high-pressure tactics to get you give them money.
  • Research a company before paying a fee for their service. Go online and use a search engine to find out what the company track record is. Look for any complaints that might signal a red flag.
  • Get the specifics of the service you’re paying for in writing. Ask for a copy of the company policy and terms of the service on paper, and make sure you read and understand the fine print before agreeing to it or signing anything.
  • Register your home and mobile phone numbers with the National Do Not Call Registry. Although it won’t stop all unsolicited telemarketing calls, it will stop most. If your number is on the registry and you still get calls, they’re likely to be from scammers ignoring the law.
  • Report fraud. If you suspect a company is scamming you after having promised a service and not delivering, file a complaint with the FTC.

For more information, check out Buying and Owning a Car and Telemarketing Scams.

Tagged with: car, scam, telemarketing
Blog Topics: 
Money & Credit

Comments

Besides feeling dumb is there anything I can do about companies that say they have lists of people who want to buy if they can get a good price. Then all they di is put you on a list with hundreds of other sellers. Is there anything I can do since the company is out of stare, many people have been cheated by this ongoing criminal activity by a group of people (RICO)

Another key is how specific are they being. We received a call and texts for our truck but they were vague and not specific. They say vehicle not truck, car, etc. and bring up no details other then we have this service for a fee. Also pay attention to the # that comes up on your phone. If it’s a non-local number or no number at all, I would be suspicious.

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