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

Used motors and bikes online: With the arrival of virtual marketplaces, buying and selling used goods have become 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 trying to buy a vehicle from a web portal.

The fraudster posed as a CRPF jawan and 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 was parked at the airport, and he wanted to promote it as he had been transferred to another region. The victim transferred Rs 1,25,000 to the said pockets, but the seller stopped picking 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 employee requested information that included the bank account quantity wherein the money may be returned. Soon after this, some other Rs 70,000 was withdrawn from his account. Realizing that he had 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 yourself—also, share the seller’s information with someone you could accept as true. Since a fraudster can pose as a customer, the dealers must also be careful while 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. Inspect the car first and know its condition before offering an amount on the vehicle. 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 is to know which cars are collectibles and 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 while having the buy, and you will feel that they got 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. The content of your ads, as well as videos and pictures, is important. 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 monthly to generate thousands in monthly profits. Then, if you want to explode your earnings 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, learn from your previous deal until you get the hang of it, and become 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.

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