Fraud Alert: Vehicle "Purchase Protection" Plans


Question

Fraud Alert: Vehicle "Purchase Protection" Plans

I inquired about a vehicle for sale online, and the seller is telling me that Edmunds will oversee the transaction. Is this a scam?

Answer

Edmunds does NOT provide "purchase protection" plans or other escrow-type services for private party vehicle sales -- i.e. holding the buyer's payment until the vehicle is delivered. If you see anyone asking you to send money to "Edmunds Protection Vault" or "Edmunds Autos," for example, it is a fraudulent use of our name.

Please report any such activity directly to the FBI for investigation; you can do this through their Internet Crime Complaint Center at http://www.ic3.gov/complaint/default.aspx.

It is also helpful to make a report to the site that hosted the vehicle listing so that they can have it removed:

Finally, we encourage you to read our article Online Car-Buying Fraud for additional tips and suggestions.


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