Earlyface

Introduction:

Everyone who already has an old vehicle desires to do away with it for a new one. When it comes to buying a new or used car, there are lots of choices for you to decide when buying a car; be it a new car or a used one[https://www.naijasales.com/buying-new-used-car/]. A clean and shiny car looks appealing to you because you might have experienced its benefits or probably heard about its special features from a friend.

While some people argue that it is advisable to get a brand new car, some others have opined that it is wiser to get a used car. Choosing whether to buy a new car or stick with a used one could be a tough decision for one to make. However, in this article, we would explore both options of buying new and used vehicles and this will help you immensely in picking the car that is suitable for you.

New cars are naturally appealing to people; this is why it would take a resolved person to stay determined in picking a used car over a new one. Buying a new car comes with so many positive attributes. Most times, it gives you the recognition and respect which you expect to receive from your friends and neighbors. The interior of a new car is quite attractive and appealing for people to desire it.

On the other hand, used cars or ‘pre-owned vehicles’ lack the glamour which is attached to new cars. Regardless of this, used cars are difficult to beat when it comes to the economic and efficient aspect of buying cars. It is important to note that buying a car is not really an investment because vehicles will eventually depreciate in the course of time.

Financial Analyst Review On New Or Used Car

A lot of financial consultants advise prospective car owners never to buy a new car. A car sales website (Edmunds.com) stated that a brand new car loses about 10% of its value from the minute it is driven off to another location. Also, they opined that the new car will lose an additional 10% of its value after a year of driving. If you should buy a used car or a late-model car, you can get practically the same vehicle for 20% less.

This has raised some arguments and controversies as some people believe that a used car may not be cheaper at all times than a new car in the long run. But these assumptions depend on certain factors, such as the age of the car, the manner it is being driven, the rigidity of the car and the amount of time you intend to keep it if purchased.

There are so many factors involved in buying a car, whether new or used, but a common mistake made by car buyers is that they take cost as the sole factor to consider when buying a carThe truth is that you should never the length of your pocket as the only factor before buying a car. We would carefully look at some factors to help you make a concrete decision on whether to choose a used or a new car.


Factors To Consider When Buying A New Car Or Used Car

Reliability: New cars have a low maintenance cost because new cars do not necessarily need much money to maintain because all its parts and accessories are new and they do not require any routine maintenance for the first several miles covered by the vehicle. Such a vehicle can run smoothly on roads with an occasional oil change. Pricey items such as a battery, a new exhaust system, tires or brakes aren’t likely to be needed for the car for a period of three years, at least.

Warranty: However, new cars can develop some technical problems unexpectedly like a starter that fails without warning. If such an incident happens, the new car owner is protected because he/she is covered by a warranty. The car owner will not need to pay for anything except for inexpensive and routine care (such as oil changes) because the factory warranty covers the cost of some major repairs for a few years.

Insurance Costs: The upfront cost of buying a new car makes up the cost of owning the vehicle. You will still have to pay for auto maintenance, gas, and car insurance. About 10% of all the money spent on your car for a period of five years goes into the accounts of your insurance company. You might have heard that it is more expensive to insure new cares than older ones. This is quite true and it is one of the many factors involved when buying new or used cars.

Purchase Cost: This is the biggest argument in favor of buying a used car. Used cars are preferred over new cars for an obvious reason, which is its cheapness and affordability. Most new cars depreciate after two to four years on the roads, and the value of such vehicle decreases year after year. With that being said, let’s see the positive and negative sides of buying a new car.

Advantages Of Buying A New Car

1. Buying a new car comes with a warranty from the car manufacturer. This is the first advantage to be enjoyed if you should purchase a new car. Many new cars experience little repairs due to a few faults which may occur in the first few years.

2. Another advantage of buying a new car over a used one is that new cars are equipped with the best technology which would give you a good driving experience. You can buy new cars with better gas mileage and lower emissions. You may decide to buy a hybrid and reduce the finances to spend on transportation each month.

3. Also, new cars are most likely to offer the latest safety features and highest fuel efficiency standards such as side-curtain airbags and structural reinforcements.

4. The dealer or manufacturer may offer to lessen the amount of interest which you get to pay over the life of the loan. This makes it cheaper and less expensive to purchase a new car than a used car.

READ ALSO: What Should You Check When Buying A Used Or New Car?[https://www.naijasales.com/what-should-check-buying-new-used-car/]

Disadvantages Of Buying A New Car

1. The biggest disadvantage of buying a new car over a used one is that you get to lose your money as soon as you hit the road. A new car depreciates in the first 3 years of use. In essence, this means that you are embezzling thousands of dollars which you may never recover.

2. Another drawback is that if you buy a brand new car model, the car may become obsolete in a year or two when the manufacturer makes an upgrade or alters the design of the model which you bought.

3. New cars come with higher insurance costs which are exorbitant compared to the used models. Buying a brand new car shows that you’re both incurring higher debts upon yourself. The more you pile up debts in your name, the quicker you get to lose your value.

Advantages of Buying a Used Car

1. Buying a used car allows you to own a car of your own even if you are low on cash. Even when you do not have enough money to purchase a new car at a standard rate, you can still take some time to save up a few cash to get a used car.

2. The insurance rates may be lower on a used car than a new one (depending on the model of the car). However, most used cars can be insured with any auto insurance fee for a low rate as compared to the new ones.

3. Buying a used car gives you the opportunity to get an ideal car; especially if you are running on a low budget. You can get a used car or a late-model car which is priced below half the cost of a new car.

4. Another advantage is that you allow someone else to bear the loss of depreciation rather than taking it yourself. Also, you may be able to sell the same car for nearly the same amount you purchased it in the next few years.

Disadvantages Of Buying A Used Car

1. When shopping for a used vehicle, you’ll need to be more patient and more flexible as you hunt for a car. Most times, you may have to compromise on the exterior of the car so as to get a car with better history and mileage.

2. A used car may not be as reliable as a new car. Since you do not know how the car was managed and used by the previous owner, there is always that fear that you are purchasing the problems of someone else. When this is the case, you will become a frequent customer to mechanics, and auto repair service locations to fix the car faults. However, even if such car is perfectly sound, you are advised to perform some servicing, and car maintenance checkups on it such as getting new tires, new brakes, engine oil, radiator and transmission flushes, etc.

Conclusion On Buying A New Or Used

There is no perfect option because everyone will need to make a decision for themselves and pick the best option which will suit them. Just as we hinted in the introduction, buying a car (either a new or used) should be based on certain factors other than cash and car design.

No matter what you pick or decide, ensure that you can afford the maintenance. Also, make sure the vehicle is sound and reliable, so as not to cause additional problems for you in the long run.


MOST READ ARTICLE>>Dropshipping Business Guidance For Nigerians: https://www.naijasales.com/dropshipping-business-guidance-nigerians/

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Introduction

How to avoid scams on classified websites is one of the greatest challenges online buyers and seller face nowadays. It is almost impossible to believe that one could be scammed while doing business on a classified website. Classified websites serve as a hunting ground for internet scammers to get their victims. Unknown to many users of classified websites, there are scammers hiding in every section of the websites, appearing to look like a genuine and serious dealer.

In this post, you will get a detailed guide on how to avoid scams on classified websites.

Definition Of Scam On Classified Websites

The best and most appropriate definition of scam on classified websites is said to be the intention, an act or a proposed plan to trick online sellers and buyers with the belief that they are dealing with a legitimate contact but actually, victims are duped out of their money or products listed.

On every classified ads website, you will find advertisements placed at different sections of the website. However, not every advert on the site is a genuine one; some advertisements are being manipulated by scammers who are out to rob unsuspecting people of their money.

History Of Scam On Classified Websites

There is no traceable history or origin of scam on classified websites. However, the history of scams can be traced to the late 18th century when some businessmen in Spain were contacted by an individual who was trying to smuggle a prisoner, who hails from a wealthy family out of a Spanish prison. In exchange for the assistance, the scammer promised to share the money with the victim in exchange for a little amount of money which would be used to bribe the prison guards.

READ ALSO: Dropshipping Business Guidance For Nigerians https://www.naijasales.com/dropshipping-business-guidance-nigerians/

Types Of Scam On Classified Websites

Advance fee fraud

Lottery, sweepstakes and competition scams

Counterfeit Seller Email

Advanced-Fee Fraud (419 Letter)

Credit Card Scam

Renter Scam

Counterfeit Seller Email

Counterfeit Check Scam

Fake Vehicle Scam

Fake Puppy Scam


Most Common Types Of Scam On Classified Websites

Online shopping scams

Classified and auction scams

Banking cards fraud

Online account scams

Advance fee fraud

Small business scams

Why People Fall For Scam On Classified Websites

There are so many reasons why people fall for scams on classified websites. They are as follows;

1. Firstly, it should be noted that people fall for scams on classified websites are not dummies but they might have been brainwashed into thinking that they are in negotiations with a reliable dealer.

2. People fall for scams on classified websites when the deal is too hard to resist. Most deals on classified websites are too hard to turn down and when this happens, the seller or the buyer would not want to miss out on what looked to him like a big opportunity. For instance, a buyer who wants to get a laptop might find one in a classified website for (N10,000/$28), it is almost impossible to find a quality laptop for that price in Nigeria. This type of deal looks tempting and the buyer would be willing to pay because the price looks cheap and affordable.

3. People also fall for scams on classified websites when there is no escrow service provided by the classified website. Most classified websites are particularly interested in how they can get advertisers and merchants hooked on their website. They aren’t really worried about how they can mitigate the chances of a user getting scammed on the website. Scamming would be the order of the day when there is no machinery in place to checkmate the activities of buyers and sellers on a classified website.

4. One of the most common reasons why people easily fall for scams on classified websites is due to impatience. Many sellers are quick to sell their wares and they end up losing their goods to scammers who cloak themselves to look like buyers.

5. An insecure website creates an avenue for users to get scammed. A site without an SSL certificate can be hacked and this can expose users’ information. Most times, the credit/debit card information gets in the hands of these hackers who can have access to the funds in the account.

READ ALSO: BUYING AND SELLING ON CLASSIFIED WEBSITES IN NIGERIA https://www.naijasales.com/buying-and-selling-on-classified-websites-in-nigeria/

Identification Of Fraudulent Buyers On Classified Websites

There are various ways to identify fraudulent buyers on classified websites. Some of the tips you can use to know fraudulent buyers are;

1. One common way to identify a fraudulent buyer is to be conscious of any suspicious attitude of the buyer. If the buyer is not serious about purchasing the product, he could be labeled as a scammer. Most fraudulent buyers request prices of products which are different from the product listed by a particular seller and this may result from carry-over fraudulent activities from the seller of another listed product. When this happens, you should be more conscious of the buyer because his move is suspicious.

2. As a seller, you should be suspicious and aware of buyers who want you to deliver your product by courier service and get paid after delivery. Products should be delivered after the cash has been paid or when there is cash ready for the product.

3. Beware of buyers who request to have a product delivered to them at night only. Most buyers would give excuses that they are busy in the office or work and that they may not be available to inspect a product. You are to be cautious of these types of buyer because most of these types of transactions end in tragedy

4. The buyer sends you a cheque which is more than the agreed price, and then, he or she asks for a refund of the overpaid amount. When you do that, their cheque will eventually bounce and you will lose your money.

5. A potential buyer who claims to be based overseas or in another country is interested in buying your product despite the fact that such an item is a common item in their home country (e.g. a lawnmower, couch, bike or a car). Often times, the shipping cost of such an item outweighs the actual cost of the item itself.

6. The potential buyer is willing to purchase your product but he doesn’t want to view it in person. It is very suspicious when a buyer demands to see a product by proxy even if the product is an expensive one. Such a buyer could be trying to woo you into a trap that you may not overcome if you should fall for it.

Identification Of Fraudulent Sellers On Classified Websites

1. You receive a fake email slip of item shipment and seller advise you to make payment or shipment will be canceled

2. The seller gives excuses he/she has emergency issues to resolve and thereby request you to make payment through a fake escrow website for safety of item to be shipped over to you.

3. Seller request you to make commitment deposit fee so as to preserve item to avoid been bought/rented by other interested buyers, seller will request you to make deposit fee as low as 10% before item can be shipped over to you in agreement you make balance after receiving item (most greedy buyer or apartment seeker fall for this trick)

4. Price of the item listed is to low when compared to the actual market value of the item on the same website or on other websites with the same product.


What To Do Next If Suspicious Of Scamming Activites On A Classified Website

1. You are to avoid a seller or buyer if you are suspicious of the legitimacy of such a person. A merchant could produce documents that show that his business is registered with the law, he could as well produce a document of accreditation and endorsement, but you should not be carried away by the antics of scammers.

2. Scammers are naturally cunning and they are willing to do anything to make sure that they get their target. Alternatively, you can ditch a classified website for another classified website when you notice signs on fraudulent activities on their platform.

Safety Precaution To Avoid Scam On Classified Websites

1. Always request the buyer or seller to produce a means of identification. A drivers license, National I.D card, Permanent Voters Card (PVC) will enable you to inspect the dealer and know if he or she can be trusted.

2. Buyers should request an invoice or a receipt to show that they have paid for a good or product. If you should notice any fishy activity of the seller, you can politely ask the seller to produce a means of ownership to know if such a product is stolen or not.

3. Most businessmen do not accept returns, so you must ensure that you check the product well to know if it is in good condition or not.

4. Most buyers prefer to make cashless payments for business transactions. This is quite good, but traders should also know that scammers prefer this payment method to any other medium of payment. In some cases, buyers who use PayPal can charge-back the payment and the money which was previously sent gets back into their account.

5. As a seller who prefers cash as his only payment method, do not fail to inform the buyer that cash is your preferred payment method. If the buyer has no physical cash, you can request to follow him to the nearest ATM or a mobile money agent to get your funds. Also, endeavor to check the cash if it is original or counterfeit.

6. Avoid buyers who ask you for help to make payment to a third party or an agent for upfront costs such as transportation or insurance. These types of people may promise you reimbursement for these additional costs. If you should send the money, you may not receive it back because the buyer will make excuses to you before dashing away with your money.

What To Do Next If Scammed On Classified Websites

1. There’s nothing much to do when you discover that you have been scammed or duped on a classified website. If you have enough evidence to track the scammer, you could use it to bring the scammers to book.

2. Contact the classified website and let them know the scammer’s profile name or username along with any other details which may help in stopping other people on the platform from being scammed.

3. If you do not have concrete evidence and when you discover that the scammer has vanished with your money, you can also report the website to the legal authorities such as the police and give them the details of how you were scammed on the classified website. Remember to include details such as a screenshot, an email message, call recorder (if any).

4. Also, you are recommended to make an alarm on your social media handles (Facebook, Twitter, Instagram, WhatsApp, etc) and let people know that you were scammed. You can also publish a report on a newspaper, journal, magazine, and blog to make people aware of the scam activities on the classified website. This will prevent more people from being scammed on the classified website.
Conclusion On How To Avoid Scams On Classified Website


The initial purpose for the creation of classified websites was to help people to promote their goods and services at a free or cheap cost but this privilege had been abused by people who are not interested in buying or selling anything but are in for fraud.

Whether you are a buyer or seller, you should be conscious of your activities on a classified website platform. You will bear the consequences for whatever mistake or error that you make, the owner of the website will not claim responsibility for any loss.

Lastly, if you have been scammed before, do not attempt to repay others by scamming them.
(For more information and education on classified websites, READ ALSO: BUYING AND SELLING ON CLASSIFIED WEBSITES IN NIGERIA
https://www.naijasales.com/buying-and-selling-on-classified-websites-in-nigeria/

Do you have any questions or observations?
Kindly, hit the comment box below.

P.P.S. If you'd like to read more of our informative contents or to know a little more about us please click on the subscribe button HERE [http://eepurl.com/gxB2rH]

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