Fake car deals on the rise, warns SA banks

Some of South Africa’s biggest banks have warned consumers about a rise in fake car deals as criminals get more sophisticated in trying to con you out of your hard-earned cash.

Sameer Kumandan, managing director of SearchWorks, says criminals are targeting South Africans who turn to the internet to make their lives easier – especially for things like researching long-term financial commitments such as buying a car.

Fake vehicle adverts have become relatively sophisticated as of late, usually even including photos to match the vehicle description with contact details of the so-called seller.

If you’re not aware that you might be walking into a potential trap, it can be easy to become a victim of a fake car deal.

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Speaking to eNCA, Kumandan said most people fall victim to these scams because criminals often sell the vehicles way below market value, leading to potential buyers thinking they are getting a bargain. He warns that if a deal sounds too good to be true, it usually is.

How to avoid falling for fake car deals:

• If you notice the same seller names and vehicle models appearing on multiple platforms, this should raise a red flag.
• Never make an urrgent deposit or full payment to secure a vehicle you saw online, but not in person. If the deal makes you feel uncomfortable, walk away.
• Consider going through a trusted dealership as buying a car is a huge financial commitment. A reputable dealership offers peace of mind as companies are accountable in terms of the Consumer Protection Act and other regulations.
• If you suspect fraud, or if someone is attempting to gain unauthorised access to your personal banking information, contact your bank and nearest police station as soon as possible.
• Verify the details of the seller and the vehicle being sold. This can be done via platforms such as SearchShop who provides consumers with a vehicle report that includes information such as make and model details, motor plan and service intervals, estimated value, factory-fitted extras, optional extras on the car, VESA information, safety and security information, size and weight, fuel economy, finance information, mileage history, microdot info and theft details and alerts.