Cars On Fire In A Bad Economy

June 26, 2009 - PRLog -- This challenging economy has many resorting to extreme measures to cope. Unfortunately, some are turning to insurance fraud. Car owners who find themselves in a tight situation have literally set their cars on fire. Once the car is torched, they report the vehicle as stolen in the hopes of collecting money from the insurance company.

Incidents like these have been happening all over the country and seem to be on the rise. This is often the case with car owners who have spent beyond their means when purchasing their car or who want to get rid of a gas guzzler. When you consider high gas prices combined with a high payment lease, the situation seems hopeless. Here's one scenario.

A car owner will contact the finance manager in the hopes of trading their car for something cheaper. Following that the car buyer is being put in touch with an arsonist. A payment is made to the arsonist inconspicuously before the car is taken to another location and torched. Afterwards, the car owner contacts the insurance company and reports the car as stolen in order to collect insurance money. However, what often happens now is that they are being investigated for fraud.

Arson is extremely dangerous and those involved in this activity have suffered second and third degree burns going down this road. Car owners are urged to take the hit on their credit and not resort to arson and fraud. You can repair your credit eventually, but the legal consequences of getting caught and the physical danger involved will cost much more than that! Try prison. The primary motive is usually for economic means and, despite the huge risk and danger, a way to ease financial burden.

One point of note is that used cars are faring much better than brand new luxury vehicles so that car manufacturers are marketing pre-owned vehicles to keep themselves above water. A lot less people are leasing and buying new cars. This presents an alternative for many who find themselves in a desperate situation with passing thoughts of taking risky measures to solve their financial burden.

Since fewer people have been leasing and buying new vehicles, it has created a significant dip in the supply of cars at auto auctions. The only way for dealers to make money is to increase the value of the cars they have, which are few in number, by marking them up. It also creates a demand for more cars making it a seller's market for pre-owned or used vehicles.

If you're selling your high dollar amount cars now you can benefit since low car supply will boost the value of your vehicle. Quick Cash Auto {http://www.quickcashauto.com} is a cash for car business. Car buying companies like Quick Cash Auto have been doing well during this tough economy because they sell their cars directly to their network of closed auctions. Selling your car now would virtually guarantee you top dollar on your used vehicle and provides you the desired end result. Your credit stays in tact. You incur no risk and you can now get further along in meeting the challenges of these trying times.

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Quick Cash Auto is a cash for car business that is known for buying any year, make or model vehicle. We can even beat the trade in price given by dealers. We specialize in purchasing financed & leased vehicles right on the spot.