Used car advert tool tackles online sales fraud

Used car advert tool tackles online sales fraud

Used car advert tool tackles online sales fraud

A new tool has been developed to combat the growing problem of online car sales scams by helping buyers identify suspiciously low-priced adverts. Brego Advert Check is a free online tool that allows users to compare the advertised price of a used vehicle with its estimated dealer price and auction value. If the price seems too good to be true, buyers are advised to exercise caution and visit the dealer in person before proceeding with the purchase. The tool was created in response to a rising number of scams where buyers are tricked into paying a deposit or full payment for a non-existent car that has been intentionally underpriced. These fraudulent sellers are typically unwilling to accept credit card payments, leaving buyers empty-handed.

The co-founder of Brego, Simon Hunt, was motivated to develop the tool after seeing numerous reports of people falling victim to these scams. Hunt noted that the sophistication of the fraudsters indicated that their tactics were proving successful, and he felt compelled to take action. The Advert Check tool was designed within a few days, allowing buyers to input the registration number, mileage, and price of the vehicle they are interested in. They can also provide the website address of the seller, although this is optional. By comparing the selling price to Brego’s dealer price and auction value data, the tool determines the extent of the price discrepancy and informs the buyer accordingly.