Social media car sales becoming more popular
MEMPHIS, Tenn. — It’s known as a place for friends, but now some people are logging on to update their statuses and buy cars.
“Personally I’ve been around social media for a good bit of time, from the days of Myspace to Facebook,” Facebook entrepreneur Fish Sharizi said.
Sharizi considers himself an online entrepreneur, that’s why when Facebook made it easy to sell cars on marketplace he jumped into action.
“With the right clientele, you can make good money on Facebook. Because of the exotics you can sell on there,” he said.
Right now he’s selling a model of the infinity that is pretty hard to find. Sharizi has spent more than a decade buying and selling cars and says
although Facebook welcomes any user to post their car for sale, first time buyers and sellers should beware.
Facebook Marketplace for this particular market is cut throat amateurs shouldn’t be in there doing big transactions because you can get burned.
He’s says it’s not like buying a sofa–a living room set–or a lamp. Buying a car from a stranger can be risky.
“Selling a vehicle is different, you are going to get quite a few scammers. Especially since it’s monitored by Facebook but not quite regulated yet,” Sharizi said. “They pretend to be military and say ‘Hey, I’m about to get shipped off to such and such place, is there any way I can purchase this with electronic money and you ship it to me?”
“What will happen is the funds will not go through, and you’ve sent out a car and just lost the vehicle by sending it to a port that you agreed to send it to,” he said.
WREG reached out to Facebook to find out what they are doing to keep the con artists away. We were told there’s a report item option on every product profile and they are constantly monitoring interactions.
They tell WREG their role is only to provide a place for car sellers and buyers to find and communicate with one another–but it’s on those parties to take action with police if a crime is committed.
Those who have bought into the digital car lot say they’ll take their chances and have their own guidelines in place.
“I was a regular mailman working a regular job,” online entrepreneur Joshua Moore said.
Moore says selling car on Facebook is his full time job now, so much so that he’s purchased a secure meeting place to make safe exchanges with customers.
“If they see I’ve sold 15 cars this week or 15 cars this month, they kind of know I’m a good car dealer. I’m not someone whose a con artist or someone who is trying to set someone up to get robbed,” he said.
Moore says Facebook marketplace sets itself apart from the trade sites of the past like Craigslist by giving people the option of clicking people’s profiles and allowing them to get a sense of who is really trying to make a deal.
“If they’ve got crazy stuff on their page, you can kind of get an idea of who you are dealing with.”
Veo Rayford is into buying, fixing up cars and selling them on Facebook. He says marketplace is a genius place to do business because it has more
than 1 billion users and many of them log on every single day.
For him it’s free advertisement, and all three men say if done right using Facebook Marketplace to sell a car can round up a lot of money. It’s just best to be careful.
“Social media is the new wave. You have to get with the times. Everyone is on their phones,” Rayford said.
They say there should be no pressure during the buying and selling process. And if there is, that’s a red flag.
It’s best to meet in an public place and always handle business in person.
“Everything needs to be done the good old fashioned style, with paper and in person,” Rayford said.
That means exchanging documents as the title and payment.