Many people could have avoided the pain of losing their money if they had just followed the simple advice of dealing with only reputable car dealerships.
Cars are valuable assets and tempting fare for any fraudster. But you can easily avoid being caught out if you follow best practice, such as transferring ownership only after payment is confirmed, and not a minute before.lost more than $2 million in total because they handed over their vehicles before the cheques given to them were cleared.by giving them cash deposits of $10,000 to $25,000. But it transferred the vehicles to other parties without paying the outstanding sums.
There is also no need to immediately transfer the ownership of your car the moment you sign a sales agreement. Owners have up to seven days to transfer vehicles to the new owners from the day they give up possession.
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Source: The Straits Times - 🏆 8. / 63 Read more »