Buying used vehicle or bike online? This guy lost nearly Rs 2 lakh – Tips to keep away from such frauds

Used motors, bikes online: With the arrival of virtual marketplaces, the buying and selling used goods have come to be simpler than ever. There may be many capability buyers in addition to dealers on those systems. However, that will still increase the hazard as one may also get conned by using the fraudsters posing as sellers. As consistent with a Times of India file, a man became duped at around Rs 2,00,000 while he was trying to buy a vehicle from a web portal.

vehicle
The fraudster posed as a CRPF jawan took the person into self-assurance to send him a picture and picture of the ID card. The criminal asked the person, a non-public agency worker, to switch half of the quantity through a smartphone wallet. The alleged CRPF jawan claimed that his WagonR car is parked at the airport, and he wanted to promote it as he has been transferred to any other region. The victim has transferred Rs 1,25,000 to the said pockets, but after that, the seller stopped selecting up his calls. The buyer tried to retrieve the cash from his wallet by contacting the pockets organization’s purchaser care. A guy who claimed to be a government of employer request information that includes bank account quantity wherein the money may be back. Soon after this, some other Rs 70,000 was withdrawn from his account. Realizing that he has been duped twice, the consumer registered an FIR inside the case.

* Never switch money without honestly meeting in character with someone.
* Try to shop for used motors from licensed companies best
* Never percentage your personal information like bank account information, PIN, and passwords with all and sundry
* If you’re going for a meeting with a seller, do not move by myself—also, percentage the seller’s information with a person you could accept as true with. Since a fraudster also can pose as a customer, the dealers must also be careful whilst going for an assembly.1. Learn How To Negotiate. When buying and selling cars, you need to negotiate on every deal. Therefore, you must master the art of negotiating. Never pay full price for a car, truck, or bike. Make sure to inspect the car first, know its condition before offering an amount on the car. It’s normal to knock off $1000 off a deal but make sure you have a reason to do so, which is why you must know a lot about cars (or have someone with you who does).

1. Know What To Buy

When buying and selling cars for profit, you need to know what is popular in your local city, country, and town because if you are trying to sell something nobody wants, what’s the purpose? You need to know what vehicles you need to buy to get the most out of your investment. The bottom line, know which cars are collectibles and are hot items in the market. Again, you must know cars.

2. Know How To Sell by Creating a Win-Win Situation

Create a simple win-win situation for you and your buyer. Make a nice profit and at the same time have the buyer feel that they got a heck of a deal. Know how to advertise to get hungry buyers calling you and get the profit you want out of that deal. The formatting of your ad is significant. Content of your ads is important as well as videos and pictures. Who wants to look at dull ads anyway?

3. Rinse and Repeat

Never run out of deals. The goal is to buy and sell a few cars a month to generate thousands in profits per month. Then, if you want to explode your profits and feel that you understand how to buy and sell cars, move on to acquiring a dealer’s license. Once you make your first profit, start again and learn from your previous deal until you get the hang of it and be an expert in buying and selling cars. But this industry is not for everyone. So, make sure that you have a love for cars and car flipping before you start. You will never succeed in this business if you don’t have a passion for cars.

Randolph Palmer

Travel fanatic. Award-winning alcohol buff. Internet nerd. Typical student. Developed several new methods for implementing childrens books in Gainesville, FL. Enthusiastic about training weebles in Pensacola, FL. Managed a small team supervising the production of rubik's cubes in Hanford, CA. At the moment I'm training cannibalism on Wall Street. Spent 2001-2008 researching foreign currency in Washington, DC. Spent several years creating marketing channels for tinker toys in Ohio.

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