Author: Monique Danao

A Rosemead, California, woman says she’s had strangers arrive at her front door after a scammer falsely listed her home as a short-term rental online.

“We found out our house was listed on Booking.com,” Alexis Cavish told KTLA 5 News in a story published May 16. “We are not renting out our house.”

Cavish says she doesn’t even have an account with the website. The address on the listing was hers, however, it included photos of another property, and was priced at nearly $400 per night. She’s had to turn away visitors looking to check in with booking confirmation emails in hand.

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“Luckily, so far, the people have been really nice,” Cavish said. “But they’re strangers coming to the house where I have kids.”

She criticized Booking.com for publishing listings without any verification.

“I’m frustrated because the company is not doing its due diligence,” she said. “Why doesn’t the owner have to prove some ownership before charging people money to stay?”

A growing trend in online rental scams

According to KTLA 5 News consumer reporter David Lazarus, this type of fraud is becoming more frequent.

“It’s a common enough scam that there’s a name for it — short-term rental scams — and it’s most common on Airbnb and Booking.com,” Lazarus said in the report.

These scams can involve criminals creating fake listings using either stolen or generic photos and attaching them to real addresses. Some booking platforms rely on automated systems, which can allow fraudulent listings to go live without being flagged or verified.

The rise of digital platforms and third-party payment apps has made it easier for scammers to exploit homeowners and renters. In cases like Cavish’s, the fraud is a financial and safety concern.

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How to protect yourself

Lazarus warned travelers to proceed cautiously when booking short-term stays online.

“In terms of any payment, communication, don’t leave the platform,” Lazarus said. “So, if the listing says they want you to pay with Zelle or Venmo or some other digital payment plan, and especially if they ask for crypto, walk away.”

Another simple precaution is to cross-reference the property’s address with Google Maps. If there are exterior photos of the building in the listing and they look different, that’s a major red flag.

One more tip is to verify hosts and read reviews carefully. When a listing lacks reviews or seems too good to be true, it just might be.

For homeowners, checking periodically to ensure their property isn’t being misused online and setting up Google alerts for their home’s address may help catch scams early.

Meanwhile, if you find a suspicious listing, consider reporting it to the platform. Some platforms have dedicated channels for reporting fraud, and flagging a suspicious listing can prevent others from falling victim.

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• How much cash do you plan to keep on hand after you retire? Here are 3 of the biggest reasons you’ll need a substantial stash of savings in retirement

Money doesn’t have to be complicated — sign up for the free Moneywise newsletter for actionable finance tips and news you can use. Join now.

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

Severe thunderstorms rolled into west central Florida, unleashing heavy rain and hail on the evening of June 25. A tornado then carved a narrow but destructive path through Pinellas and Hillsborough counties.

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The National Weather Service (NWS) had issued a severe thunderstorm warning. Residents between Ulmerton and Belcher roads were warned of life-threatening danger and potential damage to their homes, according to a report by FOX 13 Tampa Bay.

A community in shock

A spinning column of debris ripped through the Ranchero Village and Bay Ranch communities, leaving homes damaged or destroyed. In Ranchero Village, video shows a mobile home lifted off its foundations and flipped on its side before crashing back to earth.

“The whole house came up in the air, and she says she rolled around a few times and that she had debris on top of her when the house finally landed,” Martha Hicks told WFLA News Channel 8 about the footage her security camera captured of her neighbor’s home. “But she managed to get herself out.”

The Largo Fire Rescue and Pinellas County emergency crews had confirmed damage to an estimated 50 homes in Ranchero Village and 15 in Bay Ranch.

“I was out and I couldn’t get in,” Ranchero resident Joan Ramsey told the Tampa Bay Times, describing how she struggled against the wind to close her front door. “How am I going to get into my house?”

Miraculously, no serious injuries were reported, though many families spent the night in temporary shelters or with neighbours.

Crews worked through the night clearing debris and restoring power, while utility providers offered help to critical areas.

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The hidden cost

Even with homeowners’ insurance, victims often face substantial out-of-pocket expenses. Many policies impose wind- or hail-specific deductibles.

For instance, if a homeowner’s policy carries a $12,500 deductible, they can add a supplemental plan with a lower deductible of, say, $2,500 to account for wind damage. They are paying extra so that if a storm causes damage between $2,500 and $12,500, their put-of-pocket costs are covered without triggering their primary policy.

Beyond structural repairs, tornado survivors may also need shingle replacement, repair of broken windows, wall damage, foundation cracks and even total home loss.

Windstorm damage is often subject to its deductible, typically calculated as a percentage of your home’s replacement cost rather than a flat fee.

For example, a 2% deductible on a $500,000 insured dwelling means you’d owe an $10,000 out-of-pocket charge in the event of a wind or tornado loss. Some carriers let you opt for a lower wind deductible, but you’ll usually pay higher premiums in return.

Supplemental aid and long-term recovery

For residents whose insurance falls short, federal disaster assistance can provide a vital lifeline. Under the Federal Emergency Management Agency’s Individuals and Households Program, eligible homeowners may receive funds for home repair, temporary housing and uninsured or underinsured disaster-related expenses.

Renters displaced by uninhabitable conditions can apply for Displacement Assistance, which covers up to 14 days of lodging costs. Meanwhile, the U.S. Small Business Administration offers low-interest disaster loans — up to $200,000 for property repair and $40,000 for personal property — to bridge funding gaps not met by insurance.

At the state and local level, relief often comes through community grants and nonprofit aid. The American Red Cross has provided a $1 million grant to build disaster recovery centers for the community.

As cleanup crews continue their work and insurance adjusters arrive on site, affected families face a long haul toward full recovery.

For many, the tornado marked only the start of a costly recovery. It highlighted the importance of comprehensive insurance, sufficient emergency savings and familiarity with disaster-relief programs.

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Money doesn’t have to be complicated — sign up for the free Moneywise newsletter for actionable finance tips and news you can use. Join now.

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

Is lending money to family always the right thing to do?

Consider the case of Eric, a 33-year-old who is debt-free, owns his own business and lives comfortably after years of hard work and risk-taking. When his 29-year-old sister recently asked him to cover a few months of her rent, he said no.

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It wasn’t because he couldn’t afford it. It was because he’d done it before.

Still, Eric insists the decision isn’t about greed. It’s about boundaries.

Lending money to family: What could go wrong?

According to Lending Tree, 35% of Americans who lent money to family or friends reported negative consequences. These include hurt feelings (14%), decreased contact (11%) and resentment (10%).

Lending to family can also blur emotional lines. It’s one thing to help someone in a crisis. But if there’s no plan for repayment or accountability, it can easily lead to resentment.

A short-term favour can quickly shift the family dynamic and turn one sibling into a provider and the other into a dependent.

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Financial help doesn’t equal financial handouts

Saying no to lending money doesn’t mean saying no to helping. Some forms of support can be more beneficial in the long run. Here are a few alternatives that might empower your sibling more than a temporary bailout:

• Offer to review their budget: Sometimes, all it takes is a fresh set of eyes to spot where money is going. Instead of offering cash, propose working together toward a goal like building an emergency fund.

• Help them apply for jobs or update their resume: A part-time job might not cover everything. Offer to help update their resume, practice for interviews, search for better opportunities or tap into your network on their behalf.

• Help them explore debt consolidation: If they’re overwhelmed by bills, consolidating the debt into a single, lower-interest payment might help them catch up.

• Set boundaries with conditions: If you choose to help in the future, consider setting clear expectations, like one-time assistance, partial repayment, or proof of an action plan.

• Connect them with a financial advisor or credit counsellor: If the situation is complex, a professional can offer tailored advice and help them build a sustainable plan to get back on track.

There’s another often-overlooked cost: your peace of mind. Financial boundaries are just as important as emotional ones, especially when you’re working hard to maintain your own stability.

Prioritize your financial stability

Eric’s situation is a reminder that being financially stable doesn’t mean being responsible for fixing other people’s problems. Saying no to a loved one can be hard.

But it can also be the first step toward healthier boundaries and long-term solutions.

Whether his sister agrees is uncertain. But Eric’s stance is firm — not out of coldness, but out of care. He wants her to thrive on her own terms, not just get by on someone else’s dime.

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Money doesn’t have to be complicated — sign up for the free Moneywise newsletter for actionable finance tips and news you can use. Join now.

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

In February 2024, Burlington resident Mark, 54, accepted a Facebook friend request from an impersonator claiming to be NASCAR driver Denny Hamlin.

Over several weeks, the impersonator claimed that a “briefcase full of prize money” was stuck in customs and that his documentation for entering the United States had expired.

Trusting his new “friend,” Mark bought six $500 gift cards. When that didn’t free the briefcase, the scammer urged him to tap his savings.

Mark withdrew from his IBM 401(k) and took additional loans against a second 401(k) with GlobalFoundries. He sent funds by cashier’s check.

By the time doubts crept in, he had lost more than $100,000 in savings. It was only later that Mark realized he’d been duped.

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From devastation to a rebuilding roadmap

Once he recognized the scam, Mark contacted the U.S. Secret Service, filed a complaint with the FBI and alerted multiple state and local agencies. Despite his efforts and the help of an attorney, law enforcement determined the funds were irretrievable.

“The chances of getting that money back are very, very, very slim.” John Deloney lamented.

Today, Mark’s 401(k) balance is $146,321 — down from an estimated $200,000 before the fraud. Earning $60,000 annually, he maintains a lean budget: $1,000 monthly rent (including utilities), $60 for phone service, $50 for internet and no credit-card debt and $22,000 in 401(k) loans.

“Somebody weaponized what I think is the most sacred thing, and that’s a relationship. And inside that relationship somebody asked you for help, and you’re the kind of guy that helps. And that hurts, man.”

Hosts George Kamel and John Delony laid out a disciplined recovery plan:

• Build an emergency fund of three to six months’ expenses: Set aside a portion of each paycheck into a separate savings account until you’ve covered three to six months of living expenses to serve as a financial buffer against unexpected setbacks.

• Eliminate loans: Mark can make small lifestyle sacrifices and redirect extra cash toward paying off his $22,000 in 401(k) loans more quickly. Deloney advised him to treat it as a “sweat tax” that would remind him to avoid risky online relationships in the future.

• Invest 15 percent of your income back into retirement: Kamel advised Mark to contribute 15 percent of his $60,000 salary to his 401(k) over time. Done right, disciplined investing could help him build a $1 million nest egg for a dignified retirement.

While it may mean working into his late 60s, this structured approach promises a path back to financial stability and renewed confidence.

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Breaking the cycle

In 2024, scammers stole $16.6 billion from U.S. consumers — a 33% increase over the previous year, according to the FBI’s IC3 report.

Victims aged 60 and older are a highly-targeted group and filed over 147,127 complaints. This age group collectively lost $4.8 billion — nearly double of the next age group with the second biggest loss total. This group itself was the next oldest demo at 50 to 59, highlighting the disproportionate impact on older adults.

Worse still, once someone falls prey, their information often ends up on dark-web “sucker lists,” where fraudsters mark them as easy targets for future scams and even contain details such as “the personal, behavioral, and emotional profiles of scam victims.” Individuals already victimized may counterintuitively make for easier second round targets because they may be eager to recoup money lost in a prior scam.

To halt this cycle, experts urge victims to act swiftly by reporting the fraud to the FBI’s Internet Crime Complaint Center (IC3) and the Federal Trade Commission (FTC). They also recommend placing credit freezes or fraud alerts with the major bureaus to block any new accounts opened in the victimized person’s name.

Victims should seek emotional support, whether through trusted friends, professional counsellors, or specialized victim‐assistance programs, to counteract the isolation and stigma that can follow a financial (and undoubtedly emotional) betrayal.

Scams today combine sophisticated deception with a thriving secondary market in victim data.

By acting quickly, survivors like Mark can not only rebuild their finances but also insulate themselves against the risk of being scammed again and help break the wider stigma of falling victim to targeted scams.

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Money doesn’t have to be complicated — sign up for the free Moneywise newsletter for actionable finance tips and news you can use. Join now.

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

Blue Diamond Growers will permanently close its flagship Sacramento processing plant, which will result in the loss of approximately 600 jobs in the region. The 115-year-old company blamed maintenance costs and persistent inefficiencies for the shutdown.

The company will consolidate manufacturing work into its existing facilities in Turlock and Salida, which are located in California’s Central Valley.

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“Our Sacramento team’s work ethic and incredible drive have enabled us to build Blue Diamond into what it is today,” CEO and president Kai Bockmann told ABC News.

“However, the challenges of running a plant from these historical buildings has become too costly and inefficient. Streamlining our manufacturing plants is the right business move.”

End of an era

Founded in 1910, Blue Diamond has long been a fixture in California’s agricultural sector. In the meantime, the cooperative is offering severance packages, relocation support and incentives to 600 employees to help with the transition.

Despite the company’s assurances, the closure has sparked concerns about Sacramento’s ability to support major businesses.

“Proof is in the pudding,” Sanjay Varshney, a finance professor at Sacramento State University., told ABC News.

“Blue Diamond walking away is just another sign that there’s something wrong with how we are doing business here.”

Varshney cited Sacramento’s high cost of living, burdensome regulatory environment and business-unfriendly conditions as key deterrents. He dismissed the idea that international trade or tariffs were the main reasons for the closure.

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What to do when facing layoffs

A layoff can make a big impact in your financial situation, not to mention your emotional well-being. The good news is you can help navigate the fallout with a clear game plan.

Know your benefits and severance: Insist on everything in writing and review every aspect of your exit package including your severance pay, company-sponsored health coverage and any outplacement services.

If your employer-provided health insurance ends, consider COBRA coverage or explore plans through Covered California or Healthcare.gov. Losing a job qualifies you for a special enrollment period.

Apply for unemployment insurance immediately: File a claim through your state’s unemployment office. Unemployment benefits become available only after your claim is processed, so don’t delay.

In California, most workers qualify for 50% of their regular wages, up to $450 per week for as long as 26 weeks, though exact amounts depend on prior earnings and state rules.

Reassess your finances: Review your monthly expenses and cut nonessentials. Use emergency savings wisely and contact lenders or utility companies to discuss bill assistance programs or payment deferrals if needed.

Update your resume and tap your network: Network with former colleagues, industry contacts and career counsellors. Inform your LinkedIn network, for example, that you’re open to work and consider attending local job fairs or virtual networking events.

Consider retraining or upskilling: Free or low-cost training programs are available through local workforce development centers and platforms like Coursera or LinkedIn Learning. Focus on in-demand fields like health care, logistics and technology.

Blue Diamond’s shutdown echoes a nationwide surge in layoffs. The U.S. Bureau of Labor Statistics reports that 1.8 million workers have lost their jobs in 2025.

In Sacramento, the loss of a century-old employer underscores that even the most established businesses can falter amid shifting economic currents — and highlights the urgency of diversifying the region’s economic base.

What to read next

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• Here are the 6 levels of wealth for retirement-age Americans — are you near the top or bottom of the pyramid?
• Here are 5 ‘must have’ items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you?
• How much cash do you plan to keep on hand after you retire? Here are 3 of the biggest reasons you’ll need a substantial stash of savings in retirement

Money doesn’t have to be complicated — sign up for the free Moneywise newsletter for actionable finance tips and news you can use. Join now.

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

She’s debt-free, has some savings and no major expenses. But at 60, Andrea still isn’t sure she can buy a home or retire — and she called into The Ramsey Show to ask if it’s even possible.

“I want to own a home and retire one day,” the Phoenix, Arizona resident told co-hosts George Kamel and Dr. John Delony.

But with a modest monthly income of US$2,864 and no retirement strategy in place, she’s unsure how — or if — she can make that dream a reality. Here’s the skinny on her retirement plan and how it can help you.

Breaking down her income

Andrea lives with her son and his family and only pays for car insurance, gas and the occasional incidental. That leaves her with approximately US$2,154 each month to save.

She has US$69,000 in a 401(k) — which is the American equivalent of an RRSP — and US$45,000 in a savings account. She’s also considering relocating to Ohio, where her aging siblings live, to be closer to family and cut living costs.

Andrea works in medical records and hopes to move to a remote role at her company that pays about US$40,000 annually. She’s also certified in medical coding but hasn’t worked in that role.

The hosts quickly identified her biggest hurdle: boosting her income.

“What you’re facing here, Andrea, is an income problem,” Kamel said. “We’ve gotta get your income up because that’s going to create more margin for you to save for that home.”

Saving for retirement at 60

Starting late doesn’t mean it’s too late. At 60, Andrea still has solid options to grow her retirement savings.

1. Put money away for a down payment

The hosts recommended using her US$45,000 as both an emergency fund and a down payment reserve. They advised setting aside three to six months’ worth of living expenses as a safety net, with the rest going toward a future home purchase.

2. Invest 15% of her income into retirement

Andrea said she’s currently investing only about 1%. The hosts stressed that saving alone isn’t enough. They encouraged her to invest in mutual funds through her retirement account. If done consistently, she could see 10-12% average returns over time.

3. Pursue higher-paying roles

With her experience and certification in medical coding, Andrea could land a better-paying remote job. While her starting salary is US$40,000, the field offers room to grow.

“ Even if it’s not the exact role you want, I would just try to get on a ladder,” Kamel said.

4. Continue living with family or find a roommate

To keep saving aggressively, the hosts suggested Andrea stay with her son or consider moving in with her siblings once she’s in Ohio.

“It might not be ideal,” Delony said, “ but I love the idea of you saving money over the next five or 10 or 15 years until somebody can help you."

5. Adjust expectations around retirement

Andrea may need to work into her 70s to reach her goals. That’s not uncommon — in 2022, one in five Canadian seniors aged 65 to 74 were working, almost half by necessity, according to Statistics Canada.

“ You know you got US$69,000 in that retirement account,” Kamel said. “(If) you keep investing, let’s say, a thousand bucks a month. If you can do that to 72, you’ll have over half a million in that nest egg. ”

He added that she could also get a reasonable mortgage to avoid paying rent forever.

Andrea’s situation underscores a growing concern for older North Americans: how to make a smooth and comfortable transition to retirement. The co-hosts stressed that with focus and a solid long-term plan, Andrea still has a real shot at a meaningful future.

Sources

1. The Ramsey Show Highlights: Is It Too Late For Me To Invest For My Future? (May 15, 2025)

2. Statistics Canada: Employment by choice and necessity among Canadian-born and immigrant seniors (April 24, 2024)

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

Christy spent the last 14 years as a stay-at-home mom in Sioux Falls, South Dakota, raising six children, ages four to 18.

Her husband of nearly 20 years recently dropped a bombshell that he plans to file for a divorce this summer, and she’s worried she’s unprepared for the financial fallout.

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“I’ve had a little bit of part-time income, which works with our kids’ schedules, but essentially everything’s valued under him so to speak,” she told personal finance expert Dave Ramsey when she called into his show recently and explained her situation.

“Holy moly,” responded Ramsey.

Hidden debts and a looming legal battle

The couple once tackled debt together — in 2010 they paid off every loan.

However, in 2020, when the couple refinanced their house, Christy’s husband confessed that he had been using credit cards and was carrying debt. They rolled those balances into their mortgage, and he promised he would get rid of the credit cards.

Earlier this year, she discovered he had driven up nearly $60,000 in credit card debt. Again, they tapped home equity, taking a second mortgage to cover sky-high interest charges.

“Things went downhill really quickly after that,” she said. “I’m a preschool teacher to try to make money because I can have my son with me … I just found out that he hasn’t been paying my life insurance.”

She said her husband, who earns about $117,000 a year, is still living in the family home but avoids her and doesn’t communicate with her about the kids. He remains under their roof even as he pulls back from every other obligation.

Ramsey’s response was blunt but reassuring: the law would make sure her family is secure.

“ Your legal rights in most states with six children and a 20-year marriage are, he’s not gonna have much of that one $117,000 left by the time he finishes with alimony and child support. It is almost all gonna go to you and the kids,” he said. “So you’re not going to have to take care of the kids and feed them and pay the house payment on a part-time daycare salary.”

He urged Christy to meet with an attorney — and to insist her husband move out immediately. She said she has scheduled that meeting to clarify her legal rights under South Dakota law.

“You need to start taking a position of strength on this,” said Ramsey.

As for her husband’s credit card debt, the good news is most states, including South Dakota, follow common-law property rules. According to Experian, this means courts in these states usually hold the spouse who incurred the debts solely responsible for repayment. You usually would only be responsible for credit card debt solely in your name, joint credit card debt in both your name and your spouse’s or credit card debt from an account that you cosigned for your spouse, even if not owned jointly.

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Preparing financially for a divorce

Even stay-at-home parents can shore up their finances at the first hint of divorce. Here are some ways to prepare yourself for this shift:

• Document every dollar: Gather tax returns, bank statements, investment account statements, pay stubs, mortgage statements, insurance policies, credit card bills and all other financial documents. Keep copies in a secure physical or cloud-based location to build a clear record of income, assets and liabilities.

• Separate your accounts: Open a personal checking and savings account, plus at least one low-limit credit card in your name. Even small balances build a credit history, which may be critical if you need to rent or buy independently.

• Build a budget: Use a zero-based budgeting tool to track all expenses and identify where to stretch every dollar. Factor in immediate needs (housing, utilities, groceries) and plan for one-income realities.

• Establish an income plan: Leverage skills you can monetize quickly: childcare, tutoring, virtual assistance, freelance writing or bookkeeping. For example, Christy found work as a preschool teacher, which allows her to bring her four-year-old to class.

• Secure new insurance: Shop for individual insurance policies to protect your children and yourself. Obtain quotes now and compare costs before coverage gaps occur.

• Build an emergency fund: Even $500 set aside can cushion against immediate crises — car repairs, medical bills or gaps between paychecks.

• Seek professional guidance: A family-law attorney will explain alimony and child-support rules in your state. A financial planner or credit counsellor can help you manage debts and rebuild your credit.

Christy’s road ahead will not be easy, but a proactive approach can transform chaos into control. By documenting finances, securing her accounts and crafting a realistic budget with a path to income, she can navigate from uncertainty to stability — and ensure her six children come through this transition with their needs met.

What to read next

• Financial aid only funds about 27% of US college expenses — but savvy parents are using this 3-minute move to cover 100% of those costs
• Here are the 6 levels of wealth for retirement-age Americans — are you near the top or bottom of the pyramid?
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Mike Abatecola, an exotic car owner, recently bought a Lamborghini from Vladimir “Val” Ranguelov, Dealer Principal of Bul Automotive in Albany, New York.

A short while after, Abatecola says, Ranguelov persuaded him to sell the car back to him for an upgrade — so he did. But the dealership failed to pay off the remaining loan balance.

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By the time Abatecola realized what had happened, Ranguelov had already taken the car, leaving him $200,000 in debt.

Thanks to the FBI, Abatecola was reunited with his luxury vehicle in June.

But he’s still in shock.

“I’m still numb,” he told WNYT NewsChannel 13. “I don’t make that kind of money to be robbed.”

From dream car to financial nightmare

After Abatecola approached the FBI and shared his story online, more than a dozen other buyers responded with similar complaints. Ranguelov had two dealerships, Bul Automotive in New York and Karma Automotive in Jacksonville, Florida, which abruptly ceased operations in June.

After the FBI got involved, Abatecola’s Lamborghini was recovered. However, the tangled web of unpaid loans and potential second-buyer claims remains under investigation. Affected customers are now exploring a class-action lawsuit.

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How many auto thefts occur in the U.S.?

Abatecola’s ordeal comes amid a nationwide slowdown in vehicle theft and related fraud. The National Insurance Crime Bureau (NICB) found U.S. auto thefts totalled 850,708 in 2024 — down 17% from 2023.

The District of Columbia led with the highest rate of 842.40 reported thefts per 100,000 residents, followed by California, with 463.21 thefts per 100,000 residents.

Though theft rates have decreased recently, auto criminals have grown more sophisticated in recent years. From title washing, which involves wiping anything perceived as negative — like salvage status or flood damage — from a used vehicle’s record to VIN cloning, which masks stolen or damaged vehicles with legitimate identification numbers, it’s difficult to know what you’re really buying.

“Criminals are employing increasingly sophisticated methods to steal vehicles, including advanced technology to bypass security systems,” warned NICB CEO David J. Glawe in a 2023 report. “From keyless entry hacks to relay attacks on key fobs, perpetrators exploit vulnerabilities in modern vehicle security measures with alarming success rates.”

How to avoid an auto scam

To protect yourself from fraudulent schemes, prospective buyers and sellers should follow these essential precautions:

• Obtain lender payoff statements: Before handing over your vehicle, try to secure a bank-issued document confirming that any previous loans are fully satisfied.

• Ensure an immediate title transfer: Make sure the seller initiates a legal title transfer in your name at closing; unexplained delays are a major red flag.

• Run a comprehensive history check: A good tip is to use the National Motor Vehicle Title Information System before buying a vehicle you’re interested in.

• Scrutinize online offers: Be wary of below-market prices, vague listings or sellers who resist in-person inspections.

Abatecola’s saga underscores the fact that anyone can fall victim to an auto scam — despite the decline in reported thefts. How you buy a vehicle — and who you buy it from — deserves just as much thought as how you protect and insure your vehicle after you buy it.

By demanding complete documentation and staying vigilant against fraudulent deals, car buyers can keep their dream machines — and their savings — out of the hands of fraudsters.

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Money doesn’t have to be complicated — sign up for the free Moneywise newsletter for actionable finance tips and news you can use. Join now.

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.