How not to buy a loan car or a secured car

With the growing popularity of the service of buying cars on credit, the number of fraudulent scams has also increased, when gullible buyers purchase vehicles for which the loan has not been paid or which are in the bank as collateral. Unfortunately, at the moment there is no single database with which to check the credit history of a car, so if you decide to buy a used car, you need to be very careful.

What should make you suspicious?

Low cost

If you are offered a car that costs less than its counterparts, then you should think about it. This is the simplest trick - the fraudster reduces the price by 10-20% and the happy buyer, forgetting everything with joy, only after a while discovers that he has acquired not only a car, but also credit obligations for a huge amount.

Car is new and low mileage

There are different situations in life when people are forced to sell a car: a car was presented for a birthday, but there is no special need for it, or after buying a person realizes that he is not able to maintain a car, or his wife urgently needed money for an operation, and so on. Fraudsters can come up with any stories, just to get the car off their hands as soon as possible. Although it may turn out that you have an honest seller in front of you, extra vigilance and verification will never hurt.

Please read the PTS carefully.

If the car is taken on credit, the bank issues the title to the owner for a while so that he can register the car and go through all the other formalities. If the date of sale is indicated yesterday, the car is 100% credit. The date of sale should not be closed by any seals, some “deals” may specially put some notes or forward the date of sale.

It is especially worth noting such a case when the car is pledged in the bank, the seller will have a duplicate of the title in his hands. Never agree to such a deal, you are required to present the originals of all documents.

Only in the event that they honestly tell you that the car is on credit, you can go with the seller to the bank, find out the exact amount of the debt, deposit it into the bank account, and give the difference to the seller. After that, you will be given the original TCP in your hands.

Pay attention to the seller

A person should not be afraid to provide you with their contact details and address of residence. If you have an intermediary in front of you, he is obliged to provide a general power of attorney for the car.

If you are not sure about something, then it is best to seek the help of a notary or a lawyer who can find out the entire history of the car.

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