Internet vehicle fraud alert
Transfer Guide independent escrow company based in NSW, ABN: 75 140 595 026.
We were born out of the ever increasing need for fast, reliable transactions which would also not exclude the one value that the Internet Community cherishes most: privacy.
More than 452,000 people are victimized by odometer fraud every year. The average cost per victim is $2,336, making odometer rollback one of the top crimes against property in the Australia.
Defective Vehicles: Salvage Titles, Rebuilt Cars, Wrecks, etc.
According to law enforcement estimates, as many as 60 percent of the cars advertised in the classifieds or sold on the internet may be defective vehicles sold by unlicensed dealers posing as private sellers.
Automotive experts estimate that between 1993 and 1999, 20% of the vehicles involved in fatal accidents and declared "totaled" were rebuilt. Of these, 30% ended up with titles that no longer display this information. Fraudulent sellers title and re-title the car in multiple states to try to “clean” the title.
Vehicle Condition Misrepresented on Internet
National companies are reporting that on average one out of every ten buyers reports that the vehicle they bought over the Internet was in significantly worse condition than what was represented to them. This could be avoided with a pre-purchase inspection.
Fraudulent sellers are posting vehicle on online car buying sites such as ebay that they don’t actually own. They steal pictures of cars and VIN numbers on the Internet and represent the car as their own. Unsuspecting buyers wire their money or send a cashiers check to the seller and never see the car because there never was a car… it was a ghost.
Fraudulent dealers are selling cars to prospective buyers on the Internet that they don’t actually own. These dealers facilitate this crime by first getting multiple vehicle owners to consign their vehicles to the dealer for the dealer to sell. The dealer then posts these cars on the Internet and sells them to unsuspecting buyers. The buyers pay the dealer for the cars and the dealer never pays the consignees. The dealer closes shop and leaves you wondering where your title is. Then the consignee tracks you down and expresses his right to the vehicle as they are still holding a valid title. This is where the nightmare begins.
Read the true story of the Transfer Guide Founder and CEO HERE.
How you are fully
protected against these common fraudulent sellers:
Transfer Guide has been protecting people from becoming the victims of Internet fraud for years, now we are extending our capabilities. We always get involved in our transactions and verify the identity of the car and provide full information and background check. With our escrow service you are FULLY COVERED!
Visit our Security Centre for safety tips on how you can protect yourself when buying and selling both online and offline.
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