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buyer protection escrow online classifieds Uncategorized used cars

How To Safely Buy A Used Car

Every day, hundreds of people are losing their hard-earned money trying to buy used cars. The pre-owned car market is very popular because if one looks hard enough, there are some really good deals to be found in that market. However, as with most markets, the used car market is attractive to scammers who are always on the hunt for their next victim. These scammers use Facebook and other online classifieds platforms like Gumtree and OLX to advertise nonexistent cars. Sometimes it’s not easy to differentiate between what is a scam and what is a legitimate sale.

The following are common signs of a scam:

  1. The price of the car is well below the market value. If it seems too good to be true, it usually is.
  2. Scammers will refuse to provide sufficient contact details. The phone number provided is either faulty, remains unanswered or goes directly to voice mail
  3. Scammers turn off commenting on their posts so people can’t tell other people that the sale is a scam
  4. Scammers will usually make an excuse for not being available via telephone
  5. Scammers may demand the full price of the car, or a deposit, to be transferred immediately. Once they have received money they fail to release the vehicle and become difficult to contact

Scammers often claim to live overseas or have some kind of hidden agenda

Tips to avoid scams:

Never transfer or hand over cash to a seller if you have not seen and verified the vehicle

Always meet with the seller in person, preferably in a public place

Always do a history check on the vehicle to ensure that it’s not stolen and that the car’s details match those on the ownership registration and roadworthy documents

Check that the Vehicle Identification Number (VIN) matches the number on the owner registration and roadworthy documents and that the VIN number on the car has not been tampered with.

Check that the seller’s address matches the address on the registration and roadworthy documents.

Research the car’s value by searching for similar models online. If the value of the car is far below what it should be, it could be a scam

Check the service history of the car

If you suspect fraud or are a victim of a scam, contact your nearest Police station immediately.

One way to ensure that you never fall victim to scams is to use an escrow service like Paysho when buying a used vehicle. With Paysho, you are guaranteed to either get what you pay for or, at the very worst, your money back. Click here to learn more about how Paysho works and how it can protect you from getting scammed.

Categories
buyer protection online scams

A Sad Reality

Imagine this scenario:

After years of sitting at home looking for a job and not getting one, you finally decide that enough is enough and decide to start your own small business. You start looking on Facebook and other places for things to sell.

Eventually, you find something. A lady in Johannesburg is selling 10 pairs of shoes at R250 each. The shoes are so beautiful that you could easily sell them for double that price. The problem is that you don’t have the R2500 you need to buy the stock. But you believe so much in the product and your ability to sell it. So you decide to borrow the money from a friend or a relative.

You then contact the seller, exchange phone numbers, address details and bank account numbers. You send the money off to the seller and patiently wait for your stock to arrive. In the meantime, people are starting to place orders with you in anticipation of the the stock that is on its way.

One week passes. Then two. Then three. And the stock has not arrived. You contact the seller and get no response. You send messages. Still no response. Another few weeks go buy and as hard as it is, you are forced to accept that you have been the victim of a scam. Now, not only have you lost R2500 but you now owe that amount to the friend or relative you borrowed it from.

Stories like this one happen everyday. Every single day. The good news is that it does not have to be that way. Not with Paysho around.

Whether it is physical or digital goods, Paysho ensures that all buyers and sellers are protected equally and can transact with each other in complete peace of mind. Click here for more information on how Paysho works.

#BeSureWithPaysho

Categories
buyer protection Uncategorized

Beware of COVID-19 Scams

One silver lining that the COVID-19 pandemic has brought about is the large number of South Africans who have been able to generate an income for themselves by selling different kinds of personal protective equipment including masks, face shields, sanitizer dispensers etc…

Although no formal studies have been done with regards to the revenue that has so far been generated through the buying and selling of this equipment, the surge in the number of related social media posts, websites and classifieds adverts suggests that it is likely to run into hundreds of millions of Rands.

Many of these websites, social media posts and classifieds adverts will be from honest sellers. However, there will also be people that seek to take advantage of unwary buyers and scamming them out of their hard-earned money. Without proper precautions, the goods that a buyer receives may not match what they paid for. Or, worse yet, they may not receive the goods at all.

One way to guarantee that as a buyer you 1) receive the goods you’ve paid for and 2) that they are of the correct standard and quality is to use a reputable escrow service like Paysho to facilitate your payments.

How Paysho works:

  1. The buyer and the seller agree to the terms of the transaction.
  2. Paysho collects the funds from the buyer and the seller is notified that the funds have been secured.
  3. The seller ships the agreed goods to the buyer
  4. The buyer receives and inspects the goods
  5. If the buyer accepts the goods, Paysho releases the funds to the seller.

#BeSureWithPaysho