New car price: ₱978,000
New car price: ₱3,240,000
New car price: ₱1,308,000
Today, online shopping is very in demand. You can now purchase almost anything without going out of your house and you won't have to deal with the frustrating traffic. You can have anything you want to be delivered in your doorstep. Almost everything can be bought online, even cars.
But because online shopping is booming, scammers also take this opportunity to extract money from consumers in different ways. That's why consumers should be very careful when shopping online, most especially when it comes to second hand cars for sale.
In this article, we will tackle 3 most popular cases of online car scams, in which the scammers could be either the seller and the buyer, to help you spot one.
This scam is one of the easiest to spot. In this scam, the prospective car buyer will see an attractive-looking car, most of the time, an exotic or classic car, which have a price that is below the usual market value.
Once the buyer reaches out to the seller, he will be notified that the seller and the vehicle are not in the country. The seller will also tell the buyer that the arrangement of the shipment will be done once the car is paid.
Usually, payments are done via bank-to-bank transfer or wire transfer. When the payment is already transferred and collected, the scammer will break the contact leaving the buyer out of money.
There are lots of consumers and car buyers who are rightfully wary of transferring and sending money (especially large amounts) to sellers they have never met. That is why the escrow scammers will recommend utilizing fake "escrow" services which hold the payments involved during the transaction until both the seller and the buyer are satisfied with the completed transaction.
In a usual scam, the buyer will be approached by the scam seller that sells a car that is again an exotic or classic car having a priced that is usually below the market value. The scammer will then offer to arrange the shipment of the car assuring the buyer that there will be no risk of fraud since the payment will be via escrow services (commonly PayPal, eBay or other services).
When the money is completely transferred, the contact will be broken (and most of the time, there will be additional requested funds that are needed to cover the “unforeseen” events). In these cases, the buyer will never receive a vehicle and will lose their money.
That's why Philkotse.com always advice buyers never to make payment in advance even for the delivery. Scheduling meet-ups at a safe, public location and checking the vehicle and related documents before purchase are also of utmost importance.
In the overpayment scam, a legitimate car seller will post a vehicle for sale. Then he or she will be contacted by the “prospective” buyer, which is really a scammer who will offer to immediately send a cashier's check and an additional payment that will cover the shipment of the vehicle overseas.
Once the check finally arrives, the legitimate seller is directed to deposit the check and wire the excess money to the shipper. Once the transaction is complete and the wire transfer was picked up, the scam buyer will break the contact leaving the seller on the hook to their back because of the fraudulent check as well as the missing funds.
For each listing on our website, you can easily find the contact details of the seller. If you are interested in any deals from our list of Used Cars SUV / MPV less than PHP 500,000 for sale in Metro Manila, please kindly refer to the sellers for all of your questions regarding availability, payment installments, and financing options.
We hope you'd be able to find your car soon!