Classic car collecting is a hobby practiced by people all over the world. PaySAFE is noticing more of a global inclusiveness and a less predictable market for top selling cars. No one region of collectors is dominating the market these days. Internet technology has brought great change in the classic car industry creating an exciting global market place. Gone are the days of needing a matchmaker such as a dealer or broker. Buyers and sellers as individuals have access to vintage vehicles from all over the country and abroad. Sellers can now market themselves and buyers can find an extensive inventory. Rare and vintage cars from around the world are available right now on our laptops via online classifieds.
As exciting as these new developments are, this global marketplace generates new problems and concerns; namely, fraud. Private sellers stand to make more on the sale price however now stand alone to handle all risk involved in the transaction. Private buyers risk financial fraud and misrepresentation. Other concerns include the burden of producing a purchase agreement, safe and secure transfer of funds, and the buyers’ risk of vehicle misrepresentation. One company created specifically to meet the needs of the modern classic car market is PaySAFEescrow.com
PaySAFE was founded with a vision to change how business was transacted and level the playing field for both sides of a financial exchange. By leveraging technology and traditional banking solutions, PaySAFE provides trust to both buyer and seller.
- As a Buyer, confidence that you will get exactly what you ordered before the seller receives your money.
- As a Seller, eliminate the financial risk of scams and fraud.
The pros and cons of this changing market continues to be discussed and forward looking companies like PaySAFEescrow.com aim to solve and simplify a portion of these concerns.