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.

I have someone calling me from "your auto realtor" saying they will sell my car for full asking price. but first I most pay a $499.00 fee. unknown if it is a scam, but skeptical. there web site is yourautorealtor

I am in the same boat and just got a call. Have been going back and forth with this person over phone and need confirmation if this is legit and not a scam. How did you make out?

I got a loan from them at 11% for a truck pretty steep

Hi Tony, Any important update from your side? My husband received a call from them today, I believe it is a scam!

totally unfair to "beleive" without even have using them? unbeleivable.

Who told you we haven't use them? We already did !! and then we have discovered that they are trying to playa dirty game with us

Big Al, how'd it go with that Co. was it a scam? Same company calling me.

I got the same call from yourautorealtor.com. It sounded fishy, especially that a buyer would call me and come out to my house with a cheque for $1000 more than what I was asking in my ad. They claimed they needed the $499 so that the buyers (they lined up) would be sure the truck would be here and I would sell it when they showed up. They also said the $499 would be refunded back to me after I sold my truck. I called Mastercard to find out if they had any complaints about this company. They said they hadn't but STRONGLY advised me not to give them my credit card number. Tony, how did it all work from your end? Did they issue you a cheque to take to the buyer? Did you have any say over the price?

Do not give your credit card numbers to yourautorealtor! My husband was a victim of fraud from this fake company.

Arich, can you confirm what you mean by fraud? Did they take money and never sell the car, or something else?

Hello, I'm curious too as to how this company scammed you? I've had a call from them also saying they'd sell my truck. I'd love to go with them as it sounds great, but I'm very skeptical. Any help?

Looking for info about YOURAUTOREALTOR. I have heard a mix of info so far from people getting ripped off and having great experiences. Its hard to figure out what is real and not with these people. They say they have a confirmed sale to buy my car but I'm cautious to give out my credit card #, but I would really like to sell this car sooner then later.

Let me know your experiences and thoughts on this company. States they have been around almost 4 years and its hard to run a legit scam for that long.

Help Please!

I'm currently in a loan with them for 19% the payments ballon to 24% for 3 years , I didn't read it properly those sharks . Watch out read your loan papers carefully SERIOUSLY!!!!

Got the same call from yourautorealtor just now. Decided to do some research and landed here. Will not be giving them the loot FOR SURE after reading this. First off, he talked way too fast over the info I deemed important to understand and was frustrated and upset the further I prodded into it. Second, there seem to be several different reasons they state as to why you need to pay them $500. I was told it's a membership fee. Why can't they bill this said "lined up purchaser" the $500 and take it off the top of the vehicle? Thanks for the help all.

I had a call from them yesterday as well. Wondering if anyone has actually successfully sold a vehicle with them? It sounds too good to be true that they are going to be selling my vehicle for above my asking price, at no cast to me, Im wondering what the catch is, if there is one. I have read people here saying they loaned them money at really high rates, but as I am not in market for a loan, just wanna sell my vehicle, that concerns me less than if they actually sell cars or not. The internet is strangely lacking in any info on these guys at all.

These guys keep calling they got me into this insane loan for 26 percent and now I told them don't withdraw my account cause it will bounce cause I don't have the money and they still did now I owe on the auto payment and bank NSF charges give a guy a break

I'm no expert but I think a company around for four years can't fraud you on credit cards I have been a victim of fraud it's your social security that gets you frauded

I got a truck from them for a crazy interest loan at 17% . I regret this deal I'll be paying for this for 8 years 8 long yearsssss!!!!!

Has anyone used yourautorealtor.com to successfully sell your vehicle?

Just got a loan from them on Friday for a truck I should've read this stuff before hand they do BALLOON the payment after 1 year mine is going from 9% to 16% for the 3 years in between and then it goes back to 9% on the fourth year and on. I was a happy camper on Friday and now I'm in awe of what they have done to me. Do your self a favour get somebody with a financial background to read your documents for you PLEASE...

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