How did the scam work?
Carr’s experience is a textbook example of how online car scams prey on hopeful buyers. The scammer, posing as a legitimate broker, lures in victims with an unbeatable deal. To build credibility, they provide official-looking documents, use professional-sounding communication and a have seemingly legitimate websites.
But it was all fake. Once Carr transferred the money, the broker cut off all contact.
“I must have emailed and called them 100 times that day, and it was just total radio silence,” said Carr.
The fraudulent website was likely designed to disappear as soon as a victim wired payments, leaving no way to track down the scammer. By the time Carr realized what had happened to him, the money — and the seller — were gone. He ended up having to cash out his 401(k) to cover the loan, reports News 5.
Scams like this are becoming more sophisticated, warns Abe Hamed, owner of Inshi Automotive. He buys cars to fix up and sell — and says scammers are getting smarter.
“It’s a very critical thing to speak with or meet the seller directly. Try to deal with cash,” Hamed told New 5.
He also recommends looking carefully at the photos and focusing on small details.
“If you look at photo backgrounds, you’ll say… hey, why are there mountains in the background? We’re in Ohio — there’s no mountains in Ohio,” said Hamed.
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Find the best rate for youHow to protect yourself from scams involving high-value assets
Whether it's a classic car, a rare collectible or another type of appreciating asset, fraudsters often target buyers eager to make a deal or those with an emotional connection to the item. Here's how to protect yourself.
Research the seller thoroughly
Search online for reviews, complaints and business records. If they claim to be a broker, verify their license. Request a phone call or in-person meeting, if possible — just keep in mind some scammers may be willing to call or even meet. Be wary of sellers with little to no online presence or those who refuse to talk to you.
Verify the asset before paying
If you're buying a car, request the VIN number and run a report through Carfax or a similar service. While it will cost a small fee, it could save you thousands. Consider asking for a video of the item or a picture of a specific area of the item. For a car, you might ask to see the condition of the inside of the trunk or the passenger door panel. The goal here is to ask for a picture they might not have if they don't have access to the item.
Watch for red flags
Scammers tend to work from the same playbook, making them easier to spot if you know what to look for. If a deal seems too good to be true — there's a good chance it is. If they pressure you to make a decision or transfer money quickly, be cautious. Another red flag is requesting non-traditional (and often untraceable) payment types like crypto, wire transfers or gift cards.
Consult an expert
Before making a large purchase, consider consulting financial advisers, appraisers, a licensed mechanic, in the case of a car, or legal professionals. They can help verify whether the item you want to purchase is legitimate and, in turn, may help you avoid scams.
Carr still hasn’t found the scammer who stole his money, but he hopes sharing his story will prevent others from falling into the same trap.
“I guess, you know, in summation… if, the old saying, if it’s too good to be true, it probably is," said Carr.
When making high-value purchases, it’s better to be overly cautious. Scammers are getting smarter, but with the right precautions, buyers can stay one step ahead of them.
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