While you are trying to sell car in Dubai, UAE, be on the lookout for con artists looking to practically steal your car! We have all been hearing about scam artists taking Dubai citizens for a ride. Don’t worry, there is hope yet if you are informed and careful. Want to learn more? Just read on.
1. Cheque Bouncer: One of the most common scams is paying with a personal cheque which bounces. That means you have literally given the car away for free! In the case of a cash deal, better not sign on the dotted line without a certified manager’s cheque or cold hard cash!
2. (Un)Easy Installments: If a buyer promises to pay “half now and half later”, beware! You are not a finance company, right? If the buyer stops payment you have no way to collect. So, leave financing to the banks. Learn more about car loans in the UAE.
3. International Shipping Con: Sometimes, the buyer will either write a larger cheque or promise to put in escrow more money than the value of the car. With the extra payment, the buyer asks the seller to ship the vehicle out of country. This is never a good way to go! What if you ship the vehicle and the cheque turns out to be fraudulent? If you are still hoping to get your car back, that ship has already sailed!
4. Bogus Escrow: Be wary of buyers using an unknown or illegitimate escrow service to complete the transaction. At first sight, the service may seem secure. Once the title is transferred, the money is suddenly no longer available. That’s when you’ll realize you have just been punked! If you are looking to sell your car quickly, here are some tips to help you out.
5. Identity Snooping: Is the buyer asking for too much personal information like bank account info and credit card numbers? It may be an attempt at identity theft. You have been warned!
There is a lot of work involved in selling your car. Most of us don’t have the time or the patience to learn it all, right? Let CarSwitch professionals help you sell your car in Dubai, UAE, and do the work so you don’t have to. Happy switchin’!