A Florida couple lost their savings in an online car scam, wiring over $12,300 for a truck they never received. The FBI reported $16.6 billion in cybercrime losses in 2024, with non-payment/non-delivery scams accounting for over $785 million. Social media car purchases lack protection programs, leaving buyers vulnerable to scams.

Warning signs include rush tactics, too-good-to-be-true prices, payment requests via cryptocurrency or gift cards, and sellers asking for deposits just to view vehicles. Use caution when dealing with small sellers on social media and verify ownership and title status before buying. Inspect vehicles in person and avoid high-valued purchases without clear protections.

Read more at Yahoo Finance: Couple lost all their savings to a car scam on Facebook. Red flags to be aware of when buying through social media