Tips to Avoid Common Frauds
AFW brand name and logo used as a form of reassurance
AFW name and logo may be misused to create confusion
Anyone using the www.autofinanceworld.com name encouraging you to buy a car or asking you to send them money as a third party money service is coming from a fraudulent e-mail address. Please be cautious.
Usage of an online escrow service
An escrow is a secured online site used to complete transactions
Most online escrow sites are FRAUDULENT
If you must do business with a distant seller, insist on using a legitimate service, such as www.escrow.com
Seller says that they trust you with the partial payment and that you must send it before they ship the vehicle
They may also say they have already shipped the vehicle so you must send them the necessary money
Claims that only e-mail is available
Many fraudulent sellers only want to be contacted by e-mail
The buyer/seller says that a meeting is impossible, often explains extreme circumstances and elaborate stories as to why a meeting cannot be arranged
Many fraudulent sellers will post a phone number that does not even work
High-value cashier’s cheque from a distant buyer
Distant or out of province buyer sends you an email offering to buy your item for a price greatly exceeding its value in return
A cashier’s cheque is offered for your sale item, as a deposit on your vehicle parts
Banks will often cash these fake cheques and they hold you responsible once the cheque fails to clear
The scam often involves a third party (shipping agent, business associate owing buyer money, etc.)
How to Buy a Used Vehicle Safely
You’ve finally found the vehicle of your dreams on our site, now how do you go about buying it safely?
Contact the customer or company directly by the phone number listed on our site. If it does not work, do not go about solely through e-mail. Most cases of fraud are e-mail based.
Make sure to arrange a meeting with the seller so that you may see the listed vehicle. If the seller refuses to allow you to inspect the vehicle, stop the deal : it is probably a case of fraud.
Never share information such as (AHC bank account, passwords, SIN#, etc.) and do not transfer money via wire funds (Western Union, Money Gram, etc.).
Enjoy your new vehicle once everything has been completed!
How to Sell a Used Vehicle Safely
You have settled on a price and have designed and written an attractive ad for your vehicle. Now, who do you choose to sell to?
Be honest with your buyer if your vehicle has any issues, make sure to meet the customer and provide them with answers to any questions they may have. If a customer contacts you willing to buy your car without having seen it or asking any questions, it is highly likely that he\she is a fraudulent buyer.
Make sure the prospective buyer has a valid driver’s license, especially if he\she is going to be taking your car for a test drive.
Never share personal information (banking information, passwords, SIN#, etc.) and do not transfer money via wire funds (Western Union, Money Gram, etc.).
Once having selected a buyer, make sure you collect the payment by a certified cheque or cash, do not accept a personal cheque.
How to Report Fraudulent Ads
At AFW we hope to make buying or selling your vehicle a pleasant experience. Should you ever come across a suspicious advertisement that does not comply with the rules and standards of AFW contact us ASAP.
By bringing a fraudulent situation to our attention, AFW can conduct the appropriate verifications and can act consequently.