Avoiding scams with vehicle auctions and buying a used car

When you’re buying a used car, there are so many scams to watch out for, from fake vehicle auctions to accident damage that’s been covered up to identity theft. Wendy Knowler, Consumer Journalist for Sunday Times, 702 and Cape Talk, and Dion Sagathevan, WesBank NaTIS Head, join our host, Lebo Gaoaketse, WesBank's Head of Marketing and Communication, to share some tips and red flags to look out for.

Please note that the information shared in this podcast is for educational purposes only. This information does not constitute financial advice and is not to be acted on as such.

Follow us on Instagram, Facebook & X

Chapters

• 2:18 Be wary if the price is too good to be true
• 4:45 Looking at vehicle auction scams
• 5:56 Guarding against auction scams
• 10:37 The proper process for vehicle auctions
• 11:26 Cloned websites
• 14:34 Realistic prices at an auction
• 15:40 Red flags at a used car dealership
• 20:08 Doing research on the car beforehand
• 22:39 Things to check on an auction car
• 28:14 Asking about accident damage at a dealership
• 29:42 Check the service book and other telling signs
• 31:07 Protecting personal information
• 35:20 Searching for a car online & online auctions
• 39:04 If you’ve been scammed, share your experience to warn others
• 40:40 Personalisation fraud and AI
• 41:58 Vehicle identity cloning
• 45:15 Changing technology and how it helps scammers