The Tennessee Department of Commerce and Insurance (TDCI) warns consumers about an increase in auto scams on Facebook Marketplace. Scammers pose as buyers, agree on a price, and provide fake payment (like phony wire transfers or cashier’s checks).
Sellers hand over their vehicles only to find out later that the payment was fraudulent, and they cannot claim insurance for fraud-related thefts.
TDCI recommends that sellers review their insurance policies to understand coverage and limitations.