When is the next autotrader out

Shares in listed dealerships and marketplaces have surged over the past 12 months. We launched 10 months ago and already have an annualised sales run rate of 50, vehicles, reflecting huge demand for used vehicles.

Demand is continuing to grow month on month for our increasing wide range of vehicles available nationally on-line. Lookers boss Mark Raban added: "The used car market is incredibly buoyant at present, driven by an ongoing aversion to public transport, some shortages of new cars and a consumer with more money in their pockets.

Used car prices are increasing, a previously alien concept for the industry. But he cautioned that both the US Manheim index and the JD Power index "have begun to soften, so some caution is needed here". ES Money. Be suspicious; always ask the buyer to telephone you directly. Sometimes, even bank tellers get duped — by the time the bank discovers the cheque is fake, the car is long gone.

Lesson: If a buyer offers a certified cheque, go to the bank with the buyer and explain that you need to confirm the cheque is legitimate, or ensure the bank makes the full transfer of funds. Scammers are known to contact sellers of cars acting very interested, but instead of buying the car outright, they suggest a swap or trade — usually in return for a far more attractive or expensive car.

The car to be traded, however, will either be stolen, written off and repaired salvaged , be mechanically troubled or ready to die, or still have a large amount owing on it. A rarer example is the buyer who wants to test drive your car alone with a friend, is allowed to do so, then never returns with it. And ask for the keys to their own car before they go. Handing over your VIN number on the car is common and not like listing other personal information.

But should anyone ask for any financial information whatsoever, such as a bank account number, social insurance number, PayPal information, passwords, credit card details or anything else you feel uncomfortable about, do not reveal it.

And if you turn over the service records to your car, be sure to black out credit card payment details. Lesson: Keep your information private. If you think someone is acting suspiciously or fraudulently, they probably are. Genuine buyers will be more interested in the car, its condition, history and service than you.

Watch for bad grammar and spelling in replies, something that often indicates an offshore scammer phishing for personal information that could be used for identity fraud. Moral of the story? Price the car right, be patient, be suspicious and be cautious every step of the way.

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July 13,