Beware of the classic car scam: A cautionary tale about selling online and the dangers of trusting too easily. A listeners brother is selling their grandmothers classic vehicle, and a buyer from across the country wants to purchase it sight unseen with a check. This is a classic example of a fake check scam, where the buyer might send a check for the agreed-upon amount, or even more, and then arrange to pick up the car quickly. The brother would deposit the check, and because banks are legally required to make funds available quickly, the money might appear in his account within a day or two. However, the Federal Trade Commission warns that even if funds appear in an account, it doesnt mean the check is legitimate. It can take weeks for a bank to discover a fake check. By then, the scammer would have the car, and the brother would be responsible for the bounced check, losing both the vehicle and the money. The best way to avoid this scam is to insist on a wire transfer directly into a bank account. Always wait for funds to fully clear and be verified by the bank before releasing any valuable item.

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