If you\u2019re going to buy a car from a company like Carmax, who has quite aggressively moved their business online, or Cars.com or AutoTrader, then you are making a reasonably safe bet (especially if you\u2019re in the market for a new car). As far as I know, these companies buy up used cars, too, fix what needs to be fixed, and sell them for a slightly marked-up price. On a site like Craigslist or eBay, you\u2019re taking more of a risk, but you\u2019re also likely to find a better deal.<\/p>\n
So, let\u2019s begin with the reputable business, because it\u2019s easier. If you\u2019re set on buying a car from, or even selling a car to, an online business, there isn\u2019t really a whole lot to worry about. You browse their website, find a car you like, and decide you want to buy it. From there, you go to wherever the car is (or wherever it has been shipped to) and you test drive it. All the transactions \u2013 whether you are buying or selling \u2013 are probably going to take place on that car lot.<\/p>\n
This is actually sort of important: conducting a transaction in real life (as opposed to online) doesn\u2019t necessarily mean the transaction is secure (think Target data breach and point-of-sale attacks<\/a>). Give the place the eye test. If it looks super sleazy, that\u2019s probably because it is super sleazy. And you never want to swipe your credit card at a business that is super sleazy.<\/p>\n Of course, most of us aren\u2019t going to be buying a car with cash, so we\u2019re probably going to have to take out a loan. This is the part where you really want to be smart. I can\u2019t keep you from buying a terrible car (though I hear a Carfax report could help), but I can try to keep you from taking out a terrible loan. I won\u2019t recommend anyone specifically, but whatever the source is of the loan you\u2019re about to sign on to, cross check them with the Better Business Bureau. In fact, you should probably go ahead and run that dealership by the Better Business Bureau, as well (this won\u2019t help you outside the U.S., but I am sure there is some consumer protection agency in whatever country you live in, too). Depending on your credit, you\u2019ll end up paying an interest-rate of somewhere between five and 15 percent (give or take a few points). If you\u2019re being asked to pay more than 20 percent, then you either have truly terrible credit or you are getting scammed.<\/p>\n The more interesting transactions are those that take place on sites like Craigslist or eBay. On the selling end, how do you know a buyer isn\u2019t planning on stealing your car? On the buying end, how do you know the seller isn\u2019t trying to steal your money? On both ends, how do you know this strange person you met on the Internet and are about to meet in real life isn\u2019t trying to murder you? You don\u2019t, although I admit that last piece is a bit hyperbolic.<\/p>\n Don\u2019t give away personal information to these people. Be careful when clicking links in the ads or in emails they send, because they could contain malware. In the past, we\u2019ve recommended setting up throwaway email accounts for one reason or another. This may be a good time for that. In fact, you may want to read through this article on taking a holistic approach to online security<\/a>, just to get your head in the right place.<\/p>\n Never give a seller money over the internet until you\u2019ve driven the car you\u2019re about to buy. And never give that person money until you actually have the car. I\u2019m not telling you to do a handshake trade \u2013 you hand this person the money while he or she hands you the keys \u2013 but at least be near the car when the transaction goes down.<\/p>\n Which brings me to my next point, you should never meet a buyer or seller at your home or their home. Meet in a nice public place, for reasons that probably go without saying. Might be a good idea to bring a friend along, too.<\/p>\n It also might be the case that you\u2019ll use a money transfer service like PayPal to conduct a transaction. This is nice because you can meet-up, discuss terms, and then wire the money on your mobile device. Of course, you\u2019ll want to make sure you are transferring money online securely<\/a>. You\u2019ll also want to make sure \u2013 particularly if you\u2019re selling \u2013 that the money ended up in your bank account before you let someone drive off with your car.<\/p>\n![\"Sleazy](\"https:\/\/media.kasperskydaily.com\/wp-content\/uploads\/sites\/36\/2014\/05\/05084046\/Sleazy-Salesman.jpg\")
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