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Car selling scam

Jasmine Birtles 26th May 2009 No Comments

Reading Time: < 1 minute

Want to sell your car? Beware the car selling scam!

The Office of Fair Trading (OFT) has sent out a warning about ‘vehicle matching’ scams that are hitting the pockets of people wanting to sell their cars to the tune of £3 million a year.

The way it works is that scammers approach people selling their cars (probably on websites or in newspaper classified ads) and promise that they will match them with definite buyers. They usually cold-call you by phone and get you to pay a ‘matcher’s fee’ using very persuasive tactics (as ever!).

Of course, they don’t have a matching buyer but the contract with this ‘vehicle matcher’ can’t be cancelled (they’ve written it cleverly) and any money you’ve paid out gets lost.

Apparently last year over 1,600 private car sellers complained to Consumer Direct about this practice, losing between £80-99 each.

So if you’re looking to sell your banger, beware! In fact, if you get cold-called and you’re asked to part money for anything at all….just say ‘no’. If they’re genuine they can write to you and you can think about it in your own time, peacefully and clearly.

Rest assured, you can check the price of your car below

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Jasmine Birtles

Your money-making expert. Financial journalist, TV and radio personality.

Jasmine Birtles

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