Alert over car scam

Burwood Det-Acting Insp Jim Deeley said fraudsters were buying luxury European cars with dodgy cheques and selling the vehicles at discounted prices.

“The fraudsters transfer ownership of the vehicle to a new name immediately after they hand over a phony cheque to the seller,” Deeley said.

Police say fraudsters have been using bogus personal cheques to buy mainly European and luxury cars and offloading them for 'quick sale' at heavily-discounted prices.

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"If a deal appears too good to be true, it usually is too good to be true," Deeley said.

He said police believe the syndicate is targeting private buyers and sellers, as well as commercial dealers.

“The fraudsters transfer ownership of the vehicle to a new name immediately after they hand over a phony cheque to the seller. That cheque eventually bounces," he said.

They then offload the car for cash, usually telling prospective buyers they need a quick sale to cover gambling debts or are heading overseas.