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No Payments Until...

No Payments Until Scam: How It Works

You come across an advertisement that says the car dealership down the street has a "No payments for 12 months" promo. Your income is a little unpredictable right now, but you have a few prospects so it would be perfect. You pick up the beautiful convertible you saw as you were driving by. 

After a few weeks, you receive a letter from the dealership saying the first payment is due. Calling immediately to dispute the letter, they say the promotion was only available for the week previous. You recheck the ad and there are no dates, so there is no way of holding them to it.

Watch the video below to see more scams pulled by dealers and things to check for when buying a car:

 

Buying A Car From A Dealership Scams Video

 

No Payments Until Scam: How To Avoid

Indeed, there are legitimate "specials" like this in several dealerships, but be aware of the shady ones. Always ask the dealership to add in the contract "No payments due until..." Verbal agreements are not enough.

 

No Payments Until Scam: How To Report

Make your family and friends aware of this scam by sharing it on social media. You can also officially report the questionable auto dealerships to the Federal Trade Commission using the link below:

Report To The FTC Here

 

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