1st Quarter, 2009
2nd Quarter, 2009
3rd Quarter, 2009
What about escrow accounts?
Experts usually recommend that buyers use an escrow service when making online purchases to protect themselves from fraud. The escrow service acts as a third party that holds the money until the buyer receives the product, then forwards the money to the seller. In principle, this protects both the buyer and the seller.
Unfortunately, con artists have found a way around this...they ask the buyer to use a particular escrow service that they have set up as a front. When the buyer sends money to the escrow service, there is no middle-man. The seller simply collects the money directly from the fake escrow service and disappears. Here are some links to stories on MSNBC that describe this scenario:
 | A $55,000 Net Scam |
| Fake escrow sites lure auction users |
| Fake escrow site scam widens |
| Fake escrow sites still a problem |
You can minimize your chances of getting scammed by using only established escrow services, dealing only with reputable companies with established track records or bringing payment to the seller at the time you pick up the product. We are not trying to discourage online auctions, we simply want you to bid safely.
When you win a Gill Motor Company auction, we only require a $200 deposit within 24 hours of the auction close. You may make this payment through ebay and place the charge on your credit card for more security. The balance is due within 5 business days. If you plan to drive your new car home within this time-frame, you may bring a certified check with you when you pick up your vehicle. At that time, if you feel the vehicle was misrepresented, we will cancel the transaction. You will only forfeit your deposit. If you wish to make an electronic funds transfer or have the vehicle shipped, we will send the title via Priority Mail as soon as we receive payment.
We have sold a number of vehicles all across the country and do everything we can to make the buyer comfortable. If you have any questions or concerns, please contact us.