While new-car sales are improving, many consumers opt for buying used vehicles.  The internet allows consumers to research options and buy used vehicles through online classifieds.  Unfortunately, scammers also are finding internet classifieds a ripe hunting ground.

 

These tactics can help you avoid scams if you use the internet to buy a car:

 

►  Background check.  Learn more about your seller.  Many online classifieds offer feedback tools.  Review the comments and ratings from other users and insist on speaking with the seller on the phone to get a better understanding of the person on the other end of the deal.

 

►  Vehicle visit.  Avoid buying a vehicle sight unseen.  Visit the seller and the vehicle, or ask a friend or relative to check out the vehicle if it's located in another area.  Inspect the car's condition and obtain the vehicle identification number so you may review the title and investigate the car's history.  (Coosa Pines FCU provides Carfax history reports to members at a discounted rate of $15, over half-off the regular price.  Call your local branch for details.)

 

►  Mechanic's inspection.  If the visit shows the car to be promising, insist on a professional mechanic's inspection.  And if the seller balks, you walk.

 

►  Pay in person.  NEVER send money through a wire service to pay for your vehicle, and be careful paying with cash.  Your best bet is to visit your credit union to obtain a cashier's check or to use a personal check to make your purchase.  Pay for your vehicle in person and be sure to get a receipt and transfer of title.

 

File a complaint with the Federal Bureau of Investigation via the Internet Crime Complaint Center if you suspect you've been the victim of a scam when buying a car online.  And for more used-car buying guidance, visit the BALANCE Car Buying Decisions Financial Toolkit or "Drive Away Happy" on BalanceTrack.

 

 

Mapco Express, Inc. retail fuel and convenience stores have alerted customers of a payment card (credit or debit) information breach that may have exposed customers to card fraud. Mapco stores located in Tennessee, northern and central Alabama, Arkansas, northern Georgia, Kentucky, northern Mississippi, and Virginia include:

Third party hackers used malware to access payment card processing systems in Mapco stores between March 19 - 25, April 14 - 15, and April 20 - 21, 2013. The systems transmit card information used in processing approval of transactions. The hackers may have stolen information that could be used to make fraudulent credit and debit card transactions.

 

For only the fourth time in history, the $100 bill has been redesigned, and will be entered into circulation in October 2013.  The changes definitely are in your best interest.  But, rest assured, Benjamin Franklin’s face will still grace the front of the bill.

Q: What's the main reason behind the redesign of the $100 bill?
A: To foil counterfeiting, and protect your hard-earned money.  The new bills are harder for counterfeiters to reproduce, and easier for you to check.

Q: What security features should I check for?
A. The new version will feature two new security features aimed at combating counterfeiters, including a blue, 3-D security ribbon on the front of the bill where you’ll see images of bells change to 100s in the ribbon when the note is tilted back and forth and side to side.  The blue security ribbon is woven into the note’s fabric, not printed on.  The inkwell and Liberty Bell on the front of the bill and the number 100 in the right-hand corner also change from copper to green when the note is tilted.

Q: What other changes were made?
A: You'll find two portrait watermarks, one on the front and one on the back.  There are embedded security threads on both sides of the bill that you can see if you hold the note up to a light.  In addition, if you move your finger up and down Benjamin Franklin’s shoulder, it should feel rough to the touch.

Q: What will the color of the $100 bill be?
A: The bill will have a pale blue background color.

Q: Are there changes that will help those with visual impairments?
A: Yes.  There's a large, easy-to-read number 100 located on the right side on the back of the bill printed in high-contrast gold ink.  And, as previously mentioned, if you move your finger up and down Benjamin Franklin’s shoulder, it should feel rough to the touch.

Q: Do we have to exchange the old $100 bills for the new ones?
A: No.  Old money is always good, so there will be no recall or devaluation.  The old notes will be destroyed and replaced as they pass through the Fed system.

 

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