KBB Warns of Fake Vehicle-Buying Websites

Kelley Blue Book has issued a warning regarding phony websites intending to steal money from innocent people looking to buy vehicles online. The FBI has gotten involved and has said that customers are losing, on average, $1,000 every hour to these scams. These websites claim to use an escrow-based financing company, but Kelley Blue Book does not offer that type of service - this is how they found out about the scam initially. Auto transport companies have learned the lessons of scam artists as well, even though there are still people out there looking to steal money. The real lesson here is: don’t spend your money unless you know for certain you’ll be getting what you paid for.

Saab Files Bankruptcy

In a not-so-surprising development, the Swedish automobile company Saab has filed for bankruptcy protection in lieu of lagging sales, work stoppages and increasing debt. The filing comes as a surprise to virtually no-one in the automotive industry, and even auto transporters have noticed a significant decrease in Saab vehicles being shipped. The company is currently waiting for Chinese investors to come through with some much needed money, but until it gets past the regulatory phase, the company will be in financial limbo.