Do not hand income on a plate to second-hand auto scammers

It’s a busy time of year for the utilised automobile market. The new number plate came out on March 1, and that always supplies a increase for second-hand automobile sales as individuals trade up their old car for a new model.

It is also a busy time of year for second-hand automobile scammers – the sorts of folks who will attempt and flog you a dodgy used motor.

Roger Powell of MyCarCheck, a firm which supplies vehicle data to shoppers, says we need to be alert: “When acquiring a secondhand vehicle it is critical to be conscious of the risks. Numerous cars supplied for sale will have a far from ideal history. Others will be outright crooked.”

It doesn’t precisely inspire you with self-assurance, does it?

Verification approach

MyCarCheck is one of those firms you can ask to verify regardless of whether a second-hand auto has actually been scrapped, written-off or stolen.

It can also delve into a car’s finance history – and in February 32% of the firm’s finance checks flagged up a prospective difficulty – typically outstanding finance getting secured against the car.

This is serious simply because, in such a case, the auto does not in fact belong to the particular person selling it, but to the economic institution which has extended the original loan.

So you, as the buyer, could end up seriously out of pocket – and possibly with no a auto – if you shake on the deal, because the lender would be within its rights to claim the automobile to cover its position.

MyCarCheck has identified the 5 other common employed vehicle scams. (Bear in thoughts that most concern private sales. There is greater protection if you buy your automobile from a registered dealer.)

Sub hiring

Here’s how this scam works…

The seller admits there is outstanding finance on the vehicle but promises to keep up the payments.

It sounds reasonable, but the purchaser does not have a legal leg to stand on. If the seller stops the payments, the finance company could seize the car.

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Deposit safety

Some fraudsters con purchasers into handing more than a big deposit to secure the vehicle. They may possibly tell you of a “definite buyer” who’s coming in an hour, or warn that the vehicle is advertised cheaply for a fast sale.

Do not fall for such pressure tactics. The seller could simply disappear, along with your deposit.

Hire cars

Demands for a deposit also feature in the growing quantity of scams that offer hire automobiles for sale.

The fraudster will hire a automobile and then ‘sell’ it to as several buyers as possible within a short time period and pocket all the deposits. He’ll then return the auto to the employ firm and never be noticed again.

Escrow

Escrow fraud is one of the oldest scams in the book.

It can take many diverse guises, but it generally involves a UK automobile being provided for sale from abroad, or the promise to ship a automobile into the UK from abroad after the funds are paid into a holding account (from whence they disappear in thin air).

Escrow fraud is usually committed on-line, so watch out for suspicious emails.

Swaps

Swap scams are increasingly common, and once again are usually perpetrated on the internet.

Let’s say you place your car up for sale on the net. A fraudster will express an interest in the vehicle and recommend a tempting swap.

Sadly, the vehicle will typically come with outstanding finance or it may even be stolen, leaving you sorely out of pocket.

Data checks

Organizations such as MyCarCheck can confirm a car’s credentials making use of police information and details from the DVLA, insurers and finance firms. Such services are not cost-free, but they could avert a far more expensive mistake.

The most critical message is that you must maintain your wits about you, also. The secondhand vehicle market is a scammer’s paradise.

So trust your gut feeling – if a deal looks too excellent to be accurate, guess what?

Oh, and in no way spend money. That just producing life easy for the crooks.

Ever fallen victim to a second-hand vehicle scam? Let us know in the box beneath – you could help somebody else stay away from falling victim…

Do not hand income on a plate to second-hand auto scammers

Do not hand money on a plate to second-hand automobile scammers

It’s a busy time of year for the used auto market. The new quantity plate came out on March 1, and that constantly supplies a boost for second-hand vehicle sales as people trade up their old vehicle for a new model.

It’s also a busy time of year for second-hand auto scammers – the sorts of people who will try and flog you a dodgy employed motor.

Roger Powell of MyCarCheck, a firm which offers car information to consumers, says we need to be alert: “When getting a secondhand car it is important to be aware of the risks. Numerous autos provided for sale will have a far from ideal history. Other folks will be outright crooked.”

It does not precisely inspire you with self-confidence, does it?

Verification method

MyCarCheck is one particular of these firms you can ask to confirm regardless of whether a second-hand automobile has actually been scrapped, written-off or stolen.

It can also delve into a car’s finance history – and in February 32% of the firm’s finance checks flagged up a possible issue – typically outstanding finance becoming secured against the automobile.

This is significant since, in such a case, the car does not actually belong to the person promoting it, but to the monetary institution which has extended the original loan.

So you, as the purchaser, could end up seriously out of pocket – and possibly with out a auto – if you shake on the deal, since the lender would be within its rights to claim the vehicle to cover its position.

MyCarCheck has identified the 5 other widespread used auto scams. (Bear in mind that most concern private sales. There is greater protection if you buy your vehicle from a registered dealer.)

Sub hiring

Here’s how this scam works…

The seller admits there is outstanding finance on the vehicle but promises to preserve up the payments.

It sounds reasonable, but the purchaser does not have a legal leg to stand on. If the seller stops the payments, the finance organization could seize the automobile.

[embedded content]

Deposit safety

Some fraudsters con purchasers into handing over a large deposit to secure the vehicle. They might tell you of a “definite buyer” who’s coming in an hour, or warn that the auto is advertised cheaply for a rapid sale.

Do not fall for such pressure tactics. The seller could effortlessly disappear, along with your deposit.

Employ cars

Demands for a deposit also feature in the increasing number of scams that offer employ cars for sale.

The fraudster will hire a car and then ‘sell’ it to as a lot of buyers as feasible inside a brief time period and pocket all the deposits. He’ll then return the automobile to the employ firm and never ever be seen once again.

Escrow

Escrow fraud is 1 of the oldest scams in the book.

It can take a lot of various guises, but it frequently entails a UK automobile being provided for sale from abroad, or the promise to ship a automobile into the UK from abroad once the funds are paid into a holding account (from whence they disappear in thin air).

Escrow fraud is usually committed on the web, so watch out for suspicious emails.

Swaps

Swap scams are increasingly common, and again are typically perpetrated online.

Let’s say you place your automobile up for sale on the internet. A fraudster will express an interest in the vehicle and suggest a tempting swap.

Unfortunately, the auto will usually come with outstanding finance or it may possibly even be stolen, leaving you sorely out of pocket.

Data checks

Firms such as MyCarCheck can confirm a car’s credentials using police information and information from the DVLA, insurers and finance firms. Such services aren’t cost-free, but they could avoid a much more pricey mistake.

The most critical message is that you must keep your wits about you, too. The secondhand vehicle industry is a scammer’s paradise.

So trust your gut feeling – if a deal looks also great to be true, guess what?

Oh, and in no way pay money. That just creating life effortless for the crooks.

Ever fallen victim to a second-hand car scam? Let us know in the box below – you could support somebody else keep away from falling victim…

Do not hand money on a plate to second-hand automobile scammers

Are you in the market place for a new ‘15’ plate vehicle?

We’re fast approaching the release of new ‘15’ registration plates on March 1.

Will this be a trigger for you to purchase a brand-new car, or take benefit of the industry for ‘new’ secondhand models that swells each and every spring?

Bumper sales

If 2014 is anything to go by, Brits have lots of appetite for a new set of wheels.

New auto registrations hit a 10-year high of practically 2.5 million last year, the most in any calendar year given that 2004.

There have been a bumper 2,476,435 new auto registrations in 2014, 9.3% a lot more than the preceding year. In reality, only 2002, 2003 and 2004 recorded larger numbers.

Creating large ends meet

The figures have no doubt spread joy to car showrooms across the nation, and will have whetted salesmen’s appetites for the season to come.

But can we afford to splash the money on a new automobile? Certainly households are struggling to make ends meet?

Mike Hawes, chief executive of SMMT, the motor sector association, thinks the improve in sales was fuelled by a development in customer self-assurance.

He says: “UK new auto registrations returned to pre-recession levels in 2014, as pent-up demand from the recession years combined with self-assurance in the economy saw consumer demand for the latest models develop regularly and strongly.”

Ford ahead

Last year’s very best sellers won’t come as any surprise. The Ford Fiesta is top of the table with 131,254, some way ahead of the Ford Concentrate in second place with 85,140.

The Vauxhall Corsa is subsequent in line at 81,783, followed by the Volkswagen Golf at 73,880. In fifth place comes the Vauxhall Astra with 59,689.

Operating in

Buyers may possibly be a lot more confident, but the demand for little automobiles with decrease operating expenses suggests they still count the pennies when getting a automobile.

Minis and superminis now account for about 40% of the new car market place, with numerous buyers impressed by the security and comfort levels on offer in a modest automobile.

Alternator alternatives

Automobiles that run on alternative fuel are also gaining in reputation. Again, our interest is partly driven by the economics of ultra low emissions.

Registrations of plug-in automobiles, for instance, enhanced 4-fold from 3,586 in 2013 to 14,498 in 2014.

There is also now a wider variety and greater awareness of low emission automobiles, so they are seen as a credible and viable option to a regular car.

Model behaviour

Consumers have a decision of much more than 20 models, compared with just 6 in 2011. They come in all shapes and sizes, also, like hatchbacks, SUVs and coupés.

They are undoubtedly no longer niche autos, as every of the 10 very best-promoting brands in the UK has an ultra low emission car in its range.

A range of new plug-in models are due on the forecourts this year. The SMMT as a result expects the sector to continue to expand, though it nevertheless accounts for only a tiny percentage of total sales.

Sense of objective

Car purchases are not all about cost cutting and fuel economy. There is also a expanding trend for dual and multi goal autos, such as 4x4s. These large gas guzzlers now account for nearly 20% of the marketplace.

The UK kept its position as the second biggest industry in the EU, behind Germany.

It also came second in the EU development tables for 2014, pipped to the post by Spain, mainly thanks to a scrappage scheme.

Auction stations

It’s not just the new auto sector that’s powering ahead. The typical value of a employed automobile also went up in December 2014 to the second highest on record, according to information from British Automobile Auctions (BCA).

The average value across all varieties of used auto rose by 5.7% in December, or £434.

The shortage of very good high quality utilised vehicles helped to push up costs and Simon Henstock, BCA’s UK Operations Director, is optimistic about the future.

He says: “The early days of trading in 2015 have been exceptionally busy and with the new plate on March 1st only weeks away, we are getting into one of busiest periods for the motor trade.”

Are you in the market place for a new ‘15’ plate vehicle?

Are you in the marketplace for a new ‘15’ plate car?

We’re quickly approaching the release of new ‘15’ registration plates on March 1.

Will this be a trigger for you to purchase a brand-new car, or take advantage of the marketplace for ‘new’ secondhand models that swells each and every spring?

Bumper sales

If 2014 is anything to go by, Brits have lots of appetite for a new set of wheels.

New vehicle registrations hit a 10-year high of almost 2.5 million last year, the most in any calendar year considering that 2004.

There were a bumper 2,476,435 new automobile registrations in 2014, 9.3% far more than the previous year. In truth, only 2002, 2003 and 2004 recorded larger numbers.

Producing massive ends meet

The figures have no doubt spread joy to vehicle showrooms across the nation, and will have whetted salesmen’s appetites for the season to come.

But can we afford to splash the money on a new car? Surely households are struggling to make ends meet?

Mike Hawes, chief executive of SMMT, the motor business association, thinks the improve in sales was fuelled by a development in customer confidence.

He says: “UK new vehicle registrations returned to pre-recession levels in 2014, as pent-up demand from the recession years combined with self-confidence in the economy saw consumer demand for the newest models grow regularly and strongly.”

Ford ahead

Final year’s best sellers will not come as any surprise. The Ford Fiesta is prime of the table with 131,254, some way ahead of the Ford Concentrate in second place with 85,140.

The Vauxhall Corsa is next in line at 81,783, followed by the Volkswagen Golf at 73,880. In fifth spot comes the Vauxhall Astra with 59,689.

Running in

Shoppers may possibly be far more confident, but the demand for modest cars with reduce running fees suggests they still count the pennies when purchasing a car.

Minis and superminis now account for about 40% of the new automobile marketplace, with many purchasers impressed by the safety and comfort levels on provide in a little vehicle.

Alternator options

Cars that run on alternative fuel are also gaining in popularity. Again, our interest is partly driven by the economics of ultra low emissions.

Registrations of plug-in vehicles, for instance, improved 4-fold from 3,586 in 2013 to 14,498 in 2014.

There is also now a wider range and greater awareness of low emission vehicles, so they are seen as a credible and viable alternative to a regular vehicle.

Model behaviour

Buyers have a decision of far more than 20 models, compared with just 6 in 2011. They come in all shapes and sizes, also, which includes hatchbacks, SUVs and coupés.

They are undoubtedly no longer niche autos, as each and every of the 10 very best-selling brands in the UK has an ultra low emission car in its range.

A variety of new plug-in models are due on the forecourts this year. The SMMT consequently expects the sector to continue to expand, although it still accounts for only a tiny percentage of total sales.

Sense of objective

Automobile purchases are not all about expense cutting and fuel economy. There is also a expanding trend for dual and multi purpose automobiles, such as 4x4s. These large gas guzzlers now account for practically 20% of the market place.

The UK kept its position as the second largest marketplace in the EU, behind Germany.

It also came second in the EU development tables for 2014, pipped to the post by Spain, mainly thanks to a scrappage scheme.

Auction stations

It is not just the new auto sector that is powering ahead. The average price tag of a utilized car also went up in December 2014 to the second highest on record, according to information from British Vehicle Auctions (BCA).

The average value across all types of used vehicle rose by 5.7% in December, or £434.

The shortage of great top quality utilised cars helped to push up rates and Simon Henstock, BCA’s UK Operations Director, is optimistic about the future.

He says: “The early days of trading in 2015 have been exceptionally busy and with the new plate on March 1st only weeks away, we are entering 1 of busiest periods for the motor trade.”

Are you in the marketplace for a new ‘15’ plate car?