Does Yahoo Autos hold money for a used car buyer till he gets the car from the seller?
I was looking through used car sale and found this individual dealer on Cars.com. The price seems cheaper than other cars, so I sent him an e-mail saying I am interested in. In the e-mail, I, however, showed my worry about the credibility of the transaction, and then he said,
"The sale will be managed through yahoo autos company under their vehicle purchase protection program since they offer the highest rate of safety and reliability during online transactions. They act as a neutral third party. Here is how the process works:
- you have to give me your full name and shipping address,
- I will start a transaction on yahoo autos company,
- they will send you the invoice with the payment instructions and transaction terms,
- you will send the first payment to yahoo autos trust account - half of the price,
- they will confirm me that they received and secured the funds,
- I will ship the car immediately after the first payment is received by yahoo autos company ( I will pay the shipping ),
- in two days after I will ship the car you must send the balance to yahoo autos,
- you will receive the car between 5 and 7 days from the shipping date, inspect it and if you decide to keep it they will release the funds to me ( they will send me the money ).
They will hold the money until the car is delivered to you. You will have 10 days for inspection. If the car is not like described you will have to ship it back in 30 business days on my expense, but I am sure that you will love it.
If you agree please send me your full name and shipping address. Yahoo autos company will get in touch with you for further details and instructions after I will start the transaction."
Is this a fraud? or is he telling the truth? I'm not so sure, because I haven't bought a car online.
I have answered 5,423 questions in YA
I have 3095 "Best Answer" across the entire site
2459 of thos answers were in this section - makin me the TC for this group.
and probably 1000 of those were on this same scam.