Get Instantly Pre Approved Now. Only 5 Easy Questions!*

Beware Of Truck Sales Scams!

  • Home
  • Blog
  • Beware Of Truck Sales Scams!

We have heard some horror stories, so it is important to be vigilant and beware of truck sales scams.

We recently read an article titled “How to avoid used truck sales scams” and we had to share the key aspects, it provides tips and advice to potential buyers on how to avoid being scammed when purchasing a used truck. The article begins by highlighting the importance of doing research before making a purchase. It suggests that buyers should check the vehicle’s history report to identify any prior accidents, maintenance issues, or liens. These reports can be obtained online from companies such as Carfax, Auto Check, or the National Motor Vehicle Title Information System. It is also recommended to inspect the truck thoroughly and take it for a test drive to identify any potential mechanical problems.

The article also advises buyers to have a mechanic perform a pre-purchase inspection. This can help identify any hidden problems with the truck that may not be apparent during a test drive or visual inspection. It is important to find a reputable mechanic to perform the inspection, as a dishonest mechanic may overlook issues or exaggerate problems to increase the cost of repairs.

The article further cautions against sellers who pressure buyers to make a quick decision or refuse to allow an inspection. Such behaviour is often a sign of a potential scam, and buyers should be wary of dealing with such sellers. It is also important to be cautious when making payments. Cash transactions can be particularly risky, as it is difficult to trace the money and recover it if a scam occurs. It is recommended to use a secure payment method such as a cashier’s check or bank transfer, and to never give cash to a seller until the car has been received and inspected.

The article also highlights the risk of online scams. It warns buyers to be wary of fake listings, which may include photos of cars that do not match the description or are priced significantly lower than market value. It is recommended to research the seller and verify their identity before making a purchase. This can be done by checking their contact information, reviewing their online profile or website, or even conducting a background check. It is also important to avoid using phoney escrow services, which may be used to steal money from buyers.

Finally, the article advises buyers to be vigilant for signs of fraud. For example, a seller asking for payment before the truck is received or selling a car at an unrealistically low price may be attempting to scam the buyer. It is important to trust your instincts and not to rush into a purchase if something seems too good to be true.

In summary, the article provides several tips and advice to help buyers beware of truck sales when purchasing a used truck. These include conducting research, obtaining a vehicle history report, inspecting the truck thoroughly, having a mechanic perform a pre-purchase inspection, being cautious when making payments, avoiding online scams, and being vigilant for signs of fraud. By following these guidelines, buyers can reduce their risk of being scammed and ensure that they are making a wise investment when purchasing a used truck.

If you would like to know more about identifying scammers please contact either your Accountant or Equipment Finance Expert today!

Chevron Finance proudly supports those across Brisbane, Melbourne, Sydney, Perth and wider Australia with reliable machinery finance solutions, founded on flexibility and transparency. With over 20 years of experience in the field, we are backed by the expertise and insights that allow us to provide best-in-class, tailored solutions to our valuable clients. Chevron Equipment Finance was established to provide a more personalised service to meet the needs of growing small and medium businesses that have been under-serviced by their bankers for years. We pride ourselves in acting with a sense of urgency in everything we do and our can do culture ensures service and results we can be proud of.

Stay in the Know with Chevron Equipment Finance's Newsletter

Subscribe to our newsletter for the latest industry insights, financial tips, exclusive offers, and updates on our flexible financing solutions.