How the scam works:
(with video below) While you are showing off your new car to your friends, the dealer calls you with some “good news”, saying that they are now able to lower your monthly payments.
All you need to do is go back to re-sign the contract. Great, right? Of course it is! You can’t wait to go back, meet with the finance manager, and go over the new contract. In the new agreement the dealer confirms the car model, the year, your address, and the monthly payment which is now $100 less than before (as promised). Then they go to the last page for you to sign and will probably keep talking at this point about what a good car it is.
What you don’t want to miss is the part where the length of the contract is specified. Instead of, for example, an initial 5-year term, it will now be 6. The dealer has pulled the trick by extending the loan by an extra year, which doesn’t help you save money but actually costs you more, in turn making more money for the dealership.
Watch the video below to see in action many other car dealership deceptive practices.
Car Dealership Tricks and Scams Exposed Video
How to avoid:
If you pull one end of the blanket over your head to keep warm, chances are your feet will be cold soon. When a dealer calls you back for lower monthly payments, check very carefully the length of the contract.
How to report:
Make your family and friends aware of this scam by sharing it on social media using the buttons provided. You can also officially report deceptive practices to the Federal Trade Commission using the link below:
Report Scammers To The FTC Here
How to protect yourself more:
If you want to be the first to find out the most notorious scams every week, feel free to subscribe to the Scam Detector newsletter here. You’ll receive periodical emails and we promise not to spam. Last but not least, use the Comments section below to expose other scammers.
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2 thoughts on “Dealership Good News”
Hey I’m going through a very similar situation with mint auto sales. Is it legal for them to hold my very personal property in the car if I Dont pay them the $250 tow fee. I do t even want the car back.
Well, this is a similar "Call-back from dealership" scam:
Searched the internet for a vehicle and stumbled upon their website in Fort Wayne, IN. Found a car I liked so I applied (pre-approval app). To my surprise, they called me that very next morning and stated that I was approved, to come on in for a look at their inventory, find the vehicle I want & drive away today!. I was super happy and rushed on over there to get my new car! Test drove 2 vehicles and fell in love with my new car (2006 Dodge Charger). Filled out all the paperwork, gave them my old vehicle for a trade & down payment. Spent roughly 3 1/2 hours on their lot transferring all my personal property (sound system) from the old car to the new one. Made sure everything was squared away and left smiling and excited!
That very next day, got a call from them stating I had to go back in and sign (updated) paperwork since they messed up on prior papers? So, I cooperated and went back to the lot and signed new contract & made sure everything was fine with them and they said it was so I left once again.
That very next day, got a missed call from them, they didn’t even leave me a message so I was not worried about anything since they stated 2 days in a row that everything was fine and that we were done. On day 4, I wake up to find my car had been stolen! Come to find out, they "repossessed" the car!!?? I called them (after filing stolen car report) and asked them what the deal was. They stated that the lender wanted the car back because they could not verify my employment!!??
Mind you, this is now Saturday morning and no one is open on the weekends to verify if I even exist in USA, let alone prove who I am and where I work!? I ask, "what is it going to take to satisfy this problem so that I can get my car back and get everything cleared?" They said, "well, pay me the tow bill of $50 & prove your employment & you can get your car back and all your personal stuff" So, I spent 3 hours gathering up all documents to prove where I work and some money and went over to the lot to get my car and stuff. Lets just say I lost BIG TIME!!
I truly got bent over in this situation & I am in such disbelief that I just don’t know where to start with telling society about what kind of business this man is running! Best believe, Fort Wayne & the entire state of Indiana will know what kind of reputation this company has and the lending company they are blaming all their wrong doing on!! word of the wise; DO NOT BUY A CAR FROM MINT AUTO SALES IN FORT WAYNE! there is a couple of dealers with that name here in the city, if you want to know who it is exactly that I am talking about, feel free to contact me or respond to this!