With the ever increasing popularity of eBay, it is now common practice for people to include eBay in their used car search. Unlike shopping for a used car in your local market, their are several issues to consider when turning to eBay for your used car purchase.
Deals can be found via the internet but the potential buyer should use extreme caution when pursuing such a large transaction online. Not only is the car purchase expensive, but the potential risk is also something that should be considered. When searching for the type of vehicle that you are interested in on eBay, one of the first things to consider is the sellers feedback. Don’t just look at the feedback numbers, take the time to actually read the feedback. If the seller lists a phone number, call and ask questions but be sure to complete the transaction on the eBay platform. If the seller wants to complete the transaction outside of eBay, ignore the request and look for another vehicle.
The risks can be reduced in such a transaction by using an escrow service. eBay has escrow services established and this is the easiest way to protect your funds until you are able to inspect the vehicle and take delivery. The escrow service acts as a non interested third party in the process. The purchaser sends the amount of the purchase to the escrow company while the seller sends the car to the purchaser. If all goes well, and the car is as described in the auction, the escrow company releases the funds to the seller of the car. The escrow company does charge a fee for this service, but it is minimal when considering the amount of the transaction. Consider the escrow company as a bit of an insurance policy. They protect your funds until you are certain that you are getting what you paid for.
If the purchaser does not consider the car to be as described in the auction, they are usually responsible for the expense of returning the vehicle to the seller unless other contract agreements have been made. The car must be returned in the same condition as when the seller shipped it. Once the vehicle is returned to the seller, the seller must contact the escrow company in order to have them release the funds to the purchaser. The purchaser is typically responsible for the fees associated with escrowing the funds for the purchase.
eBay also offers an inspection service from their “Vehicle Services Division. The potential purchaser has the option of requesting an inspection of the vehicle for a nominal fee. This is a great way to further reduce the risk of buying a used vehicle sight unseen. eBay has taken steps to protect the purchasers and the sellers in these high dollar transactions. It is ultimately up to those involved in the transaction to utilize the services that are available. If both parties agree to use the services that eBay has available, the transaction can be as as easy as visiting a local used car lot with a lot more vehicles to choose from.
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