Greg's Corner

Dream Car Scam: A Costly Online Trap

By Greg Collier

The excitement of finally finding a dream car can quickly turn into heartbreak when scammers are involved. A man from Virginia learned this lesson the hard way after losing thousands of dollars in what he believed was a legitimate online purchase from a Cleveland, Ohio, area car dealer.

For years, he had saved up for a classic car, a lifelong goal inspired by his father’s passion for collecting them. When he found a listing for the perfect vehicle, one that even matched the model of his father’s first car, he thought fate had finally brought him to the right deal. The price was significantly lower than expected, making it feel like a once-in-a-lifetime opportunity.

The seller, who claimed to be a reputable broker, provided everything needed to make the deal seem authentic, contracts through an electronic signing service, a bill of sale, company documents, and a series of detailed photographs. Feeling secure, the buyer took out a loan and transferred the money, expecting his dream car to arrive shortly after.

But the car never showed up. The seller became unreachable, and the website that had hosted the listing vanished. The realization set in, he had been scammed. The financial hit was devastating, forcing him to cash out his retirement savings just to recover from the loss.

This case is far from unique. Experts in the auto industry warn that online car scams are becoming more sophisticated. Fraudulent sellers go to great lengths to create the illusion of legitimacy, making it crucial for buyers to remain vigilant.

Those familiar with the industry advise that one of the most important steps a buyer can take is to directly communicate with or meet the seller whenever possible. Researching a seller’s history, reading reviews, and searching for any signs of suspicious activity can prevent a financial disaster. It’s also wise to approach any unusually low price with skepticism, questioning why a vehicle is being sold for much less than market value.

Visual clues in photos can sometimes reveal red flags. If a listing claims to be from one region, but the background in the pictures doesn’t match that location, it’s worth investigating further. Another important step is verifying vehicle documents before any money changes hands. Requesting the VIN and checking a car’s history through services like CARFAX can help confirm whether a listing is legitimate. While running such reports may come with a small fee, it’s a minor expense compared to what scammers can steal.

For those navigating the world of online car buying, caution is key. If a deal seems too good to be true, it probably is. The best defense against falling victim to fraud is thorough research, skepticism, and taking extra steps to verify a seller’s credibility. While this Virginia buyer’s dream car never arrived, he hopes that sharing his experience will prevent others from making the same costly mistake.