OldRide.com attempts to review all new classified ad listings, however some scammers succeed in posting their listing online. We have created this page full of warnings and tips for catching fraudulent ads.
Very Important: "Be cautious and do not wire or transfer money to a foreign bank or foreign account! Be sure to make personal or phone-to-phone contact before progressing with any transaction, and ask for references and/or some type of proof that the person or business and vehicle or item being sold is legitimate."
Classified Ad Fraud: A Classified scam usually consists of a scammer placing an ad for merchandise he/she does not own in an attempt to receive a down deposit to hold the vehicle or property. Once the payment, either by cash, money order or direct wire is received the scammer ceases all communication. Ads can sometimes be easy to spot such as a rare "Hemi Convertible" for a cheap price but in some cleaver cases the ad may appear legit. Most scammers usually only want to communicate via email due to email being difficult to trace, however there have been reports of scammers using un-traceable phone cards and cell phones to conduct business. Following are some steps you can use in an attempt to identify a Classified Scam.
Potential Buyer Scam: This scam typically involves an individual expressing interest in your vehicle or merchandise posted for sale. While the majority of inquires come from over-seas, OldRide.com has identified countless local (US & Canada) scammers as well. Again, cautious investigation is the rule when identifying a truly interested buyer.
Most Buyer Scam emails contain broken language and an attempt to buy your merchandise on their "Clients Behalf". Typically the scammer will want to pay for the item via a cashiers check which will be made out for a higher price than you are selling the vehicle for and involves you sending a portion of the proceeds back to them via a wire transfer.
It can take the local banks up to 4 weeks to spot a bogus Cashiers Check, thus you will be charged by your bank for the proceeds which were sent back to the scammer.
Another relatively new scam which has surfaced is a collusion or partnership between the scammer and the shipping company which may be hired by the scammer to pickup your merchandise. As the seller you should investigate the shipping company which may be picking up your vehicle for transport. Following are some general guidelines on Email Scams.
Report It: If you feel you have been a victim of a scam or would like to report a potential fraudulent classified listing or email contact the following resources: